The University of Tennessee may put a “talent fee” to football ticket prices in the fall of 2018, with proceeds going toward an athlete’s pool as a precursor to a brand-new era of college sports.
In an email sent to football season-ticket holders on Tuesday, the university announced single-ticket and season-ticket prices will rise 14.5 % in 2025. As the college strives to “be a president in profit sharing,” Vols athletic director Danny White stated in a video posted by the sporty division that at least 10 % of that will be used as a “talent price.”
White told Knox News that the proposed House, Carter, and Hubbard competitive litigation towns with the NCAA will help pay for the revenue-sharing share that players have committed to. ( The remaining 4.5 % will reflect athletic department expenses, food, travel and the renovation of Neyland Stadium. )
White said the university should address the extra cost as what it really is when he credited a part of his creative team in an appointment with On3. ” It’s a talent charge, and it’s going straight to the talent”, he said. ” It’s going to our student-athletes as part of this new world order in school activities. So I’m confident that our supporters may adopt it.”
Season ticket upgrades for 2025 begin next month. Tennessee already increased the cost of student tickets from$ 10 to$ 20 this season, and those will go up an additional$ 5.
The University of Tennessee’s support of the program was stated in a statement from a spokesperson for the sporty office,” We at the University of Tennessee believe in sharing resources with our student-athletes and will continue to look for ways to do so through our governmental setting (NCAA, SEC, State of Tennessee ).”
However, it’s no certain point the proposed antitrust lawsuit that’s the foundation for the charge may be resolved by next period. After a controversial reading in California on September 9 when U.S. District Judge Claudia Wilken raised significant questions about fundamental issues, the settlement was denied primary approval. Both sides of those instances are confident that their customers and the judge will find common ground.
For now, the multibillion-dollar settlement plan calls for institutions to give their players around$ 22 million per year starting with the 2025-25 academic time. Up to 22 % of their yearly revenue can be used to fund the pool for schools.
Roster size would be unlimited next year, which will increase the number of sport scholarships. White believes Tennessee’s revenue-sharing pool will be closer to$ 30 million but hopes the school can recoup$ 10 million through the new surcharge.
White added that Tennessee could n’t wait for the settlements to be approved in court so that they could protect the athletes ‘ interests, and that administering the fees soon before the following season would n’t be successful for the fans. ” We have to be prepared”, White said in the On3 meeting. ” There are economic challenges. In any case, competing at the amount we want to compete will cost more.
Tennessee generated$ 202, 097, 305 in total revenue against$ 191, 032, 519 in general expenses in 2022-23, the next officially reported academic year. It just negotiated a naming rights agreement with Pilot that will allow for the renovations of Neyland Stadium and another campus locations. According to Knox News, the Tennessee Fund, which raises money for the school’s teams, pulled in nearly$ 140 million in 2023-24.