Forbes: “Prof. Ken Homa says …”

Interesting piece on Forbes.com

Punch line: There’s added pressure for the Hoyas in the Tourney this year.

They have to avoid the unfortunate early losses of past years and go deep into Tournament in order to protect the image of the New Big East (aka. Catholic 7)

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Of course, my favorite parts of the article:

To get a major TV deal, “Georgetown, Villanova or Marquette has to go to the Final Four,” says Ken Homa, a marketing professor at Georgetown’s McDonough School of Business and a season ticket holder. Is that a stretch? Perhaps, but a loss by the second-seeded Hoyas, fresh off a 25-6 season, to No. 15 seed Florida-Gulf Coast would do a lot to short circuit things.

Those key new Big East Schools, along with the likes of Gonzaga and St. Louis, have proven that basketball programs can compete at a high level without football revenue. “The economics of basketball are just fine,” says Homa, noting that while the sport doesn’t command football-type revenue, it is much cheaper to run.

Not sure that I agree with the assertion that:

The basketball-only group bought out the Big East name from the football schools for a reported $110 million, good for instant brand equity and recruiting advantages.

As a recovering branding guy, I would have put the $110 million towards a new brand.

“Big East”?

It’s not “Big” without ‘Cuse, Pitt and L’ville.

It’s as Midwest as it is “East”.

I don’t think folks will mistake it for the old Big East.

We’ll see.

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One Response to “Forbes: “Prof. Ken Homa says …””

  1. Chris Says:

    The Forbes article competly distorts what’s happening. The $110MM settlement is an agreement on how a big pile of money will be split up. The Big East has collected that sum in exit fees over the last couple years and it needs to pay out to league members. The C7 are giving up a large part of their share to walk away and keep the league name.

    The cash cost of that option is much, much lower. There’s simply no way a C7 school could justify paying $15.7MM for a league name.

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