NIT Finances Explained

EDIT NUSS: Bumped because it's interesting. Money is always at the forefront of conversations with WSU. At least, it is when pot busts aren't.

Hi all,

Someone (hollyweirdcoug?) asked about the financial breakdown for teams participating in the NIT tournament, and I was able to find some information. There's enough of it to make a fanpost rather than a separate comment. All my information comes from reckless speculation, hearsay, and a close personal relationship with someone whose brother had a class from Glenn Johnson.

No, that was a lie. All the information is in the NIT Team Manual, found here (pdf).

Essentially, the NIT collects all the revenue and then disburses it to all the NIT participants according to the number of games in which they played. Sources of revenue include:

  1. All ticket sales
  2. TV rights
  3. Radio rights
  4. Internet rights
  5. Commission from gambling ring participants

The NIT then reimburses each traveling team for standard coach airfare, one bus + driver, and $120 per diem per person. As I read it, it looks like each player gets $120 per day for each day they are still participating in the competition. That hopefully is enough to cover meals - in Pullman, that surely covers meals and lodging. Hotel costs are the responsibility of the traveling institution.

Host institutions like us are responsible for myriad miscellaneous things, like liability insurance for the arena, 50 seats for the traveling institution, space for both teams' bands and cheerleaders, NIT banners hanging in strategic places, etc. We don't get any money for the players' food or lodging while hosting. We will receive money if we make it to New York, because all remaining teams are considered traveling institutions at that point. The per diem jumps up to $185, enough to buy at least one pizza per day in Manhattan.

Important: this means that WSU does not receive any money for hosting directly. We only receive a cut of the net revenue in proportion to how many games we played. So in a year where Ohio State makes the NIT and sells out their arena, they end up having to split the ticket money with WSU and their spring-break-caused empty arena. Of course, the hope is that the extra revenue from the media rights will make up the difference and everyone makes a profit. Also, since we are participating in at least 3 games, we'll get three times as much money as a host school which lost in the first round, like St. Mary's. As a bonus, if we reach New York we get 5 shares, even if we lose and end up only playing in 4 games. Money gets distributed in August.

So to summarize, WSU is probably going to make some money on the NIT, unless liability insurance is way higher than I realize. We'll definitely make money if we make it to New York. Unless Reggie and Klay get the munchies.

This FanPost does not necessarily reflect the views of the site's writers or editors, who may not have verified its accuracy. It does, however, reflect the views of this particular fan, which is just as important as the views of our writers or editors.

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