I searched around and couldn't find any details, so thought I'd throw this question out there for those in the know:
Is there any information available about the Boosters' investment in CollegeTown, specifically what is the ownership percentage?
I am curious because (like everyone else) I'm concerned about FSU's ability to financially keep pace with SEC teams when considering TV rights, bowl payouts, contributions and other revenue sources. Projects like CollegeTown should improve the gameday atmosphere and drive additional ticket sales despite a lack of compelling home matchups in odd years. I drove by today and CollegeTown is really looking great. It should definitely be ready in September, though there are additional phases planned as well.
My understanding is that the Boosters have an investment share in CollegeTown and I'm assuming that will come with rights to a percentage of profit/loss. If that is true, this could play a role in bridging the gap between FSU's budget and SEC budgets. If anyone knows any details on the project and the Boosters' revenue share, I'd love to pull an estimate together of what that could mean for FSU in the future. On the surface, the strategy of developing business-type activities to generate revenue while fulfilling the purpose of creating a better gameday atmosphere is a really solid way to get around FSU's inherent financial disadvantages at this point. It would be interesting to see what risk comes with that strategy as well.
Thanks in advance if anyone is able to provide more details on this or other projects. The athletics budget and financial statements are public record, but nonprofit financial details can be a little more tricky to obtain.
By way of introduction, I'm an FSU grad (2011), booster and a young CPA living in Tallahassee. I've been lurking on TN for quite awhile and the quality analysis has helped me become a much better informed fan. Though I'm still learning the X's and O's somewhat, I hope to make informed contributions where possible.