Cash only at Neyland

#51
#51
volfan411 said:
A portion of the 85,000 sold tickets were donated to youth football programs today so the 85,000 tickets sold is misleading.
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There was a thread awhile back referencing that UT pays a lot in taxes relative to other Athletic Departments that are usually not taxed. So the donated tickets could be a write-off to help offset some of the tax bill.

Also people keep referencing an average ticket price of $40 per seat, but there are donations on top of that, plus club seats and luxury boxes. I would put the average cost of all tickets closer to $50, and so assume there were 90,000 tickets sold to today's game (I would imagine the donate tickets are from the allotment returned by Troy), you have 90,000 x $40 = $3.6 mil. 7 home games generate $25.2 mil.

Note - this is why buying out the current coaches and hiring a new one are a non issue. $25 mil in tickets a season, PLUS royalties from all UT gear sold, no reason money should keep Tennessee from competing.
 
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#53
#53
I went to the Mississippi State game and they did not take cards either. They pointed the person in front of to a ATM. They are having a great season and since CDM was hired there is a lot of excitement there. They are not having trouble filling the seats and they don't accept credit cards either. I don't think ticket sales has anything to do with the decision to not take plastic.
 
#54
#54
imavolfan said:
I went to the Mississippi State game and they did not take cards either. They pointed the person in front of to a ATM. They are having a great season and since CDM was hired there is a lot of excitement there. They are not having trouble filling the seats and they don't accept credit cards either. I don't think ticket sales has anything to do with the decision to not take plastic.
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It isn't. Same reason many retailers won't accept credit/debit to pay on their charge card accounts. They have to pay Visa, American Express, etc to accept the cards. Why throw money away in situations like that?
 
#55
#55
Really wish I was involved with an outfit that could come in and put about 12-15 extra ATMs around the stadium. Probably make some decent money sticking a 3 or 4 dollar per use fee on there...

Surprised UT hasn't done more of that.
 
#57
#57
KoachKletus said:
Hmmm? 70,000 x 40 = 2.8 mill. Do you think it cost's more than 2.8 mill. to host a home game? I understand they didn't make as much as UT should, but they certainly didn't lose money.
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Do you know how much UT paid out to Troy for their visit here? Because that's how it works.
 
#59
#59
NEOCON said:
I want to start this because it is important. then I will go back to honoring my ban bet. there is only one reason a company shuts down its credit card billing side...they are in a huge revenue crunch. Amex, visa, etc take roughly three percent off the top and bill grossly per month. This is not a very good sign for any business when you cut this out and a sign UT is in financial problems.
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There's another reason, also. The company doesn't want to give up the extra 3-6% charged by most credit concerns for the transactions. It was always cash when I went, but it may have changed. Bet they're still taking debit cards, if so. Win Co and Costco, fairly large businesses out here, don't take credit cards in house. They seem to be prosperous.
 
#60
#60
Who cares TN sucks. If we keep playing like this. They MAY shutdown the football program.
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#63
#63
Concessions as a whole have never taken credit. It may be up to whoever is running the particular concession. They let organizations run each stand, and a portion of the proceeds, they get to keep for their cause. There have been one or two concession stands in the past that have accepted credit.
 
#64
#64
rocky top buzz said:
There was a thread awhile back referencing that UT pays a lot in taxes relative to other Athletic Departments that are usually not taxed. So the donated tickets could be a write-off to help offset some of the tax bill.

Also people keep referencing an average ticket price of $40 per seat, but there are donations on top of that, plus club seats and luxury boxes. I would put the average cost of all tickets closer to $50, and so assume there were 90,000 tickets sold to today's game (I would imagine the donate tickets are from the allotment returned by Troy), you have 90,000 x $40 = $3.6 mil. 7 home games generate $25.2 mil.

Note - this is why buying out the current coaches and hiring a new one are a non issue. $25 mil in tickets a season, PLUS royalties from all UT gear sold, no reason money should keep Tennessee from competing.
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If the AD wasn't so intent on pretending to be a separate entity from the university then maybe they would get a bigger tax break. You can't have it both ways.
 
#65
#65
Jackson_Harris said:
If it wasn't for bad luck,
we would have no luck at all!
Doom dispair,
And agony on me!
Deep, dark depression,
And something something something
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wow Jackson,that tells how old you are,that was a song on Hee Haw, i can uuuh remember how family members told me about it and seen it on reruns,yes that is it :hi:
 
#66
#66
The decision for cash only v cc probably lies with Aramark who run the concession stands.
 
#67
#67
ajvol01 said:
They lost potential revenue.

15,000 (unsold tickets) x $40 = $600,000

35,000 (empty seats) x $14 (concessions) = $490,000

$1.1 million is a lot of money to be left on the table for the UTAD.

The point you're missing is that the money the football program brings in funds most of the other sports.

That is one of the reasons the UTAD is in such a bad financial position.

Edit: updated using concessions numbers fom post above
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Inflated number. The 1.1mil is inflated by the cost of the material ( food and beverage products) which are already purchased but unused. Any food prepared and not used is deducted from the income as spoilage. While there is a reduction in income from loss sales, it is not an expense.
 
#68
#68
While I literally almost never carry cash on me, I do always bring some with me when I attend games just in case.

Really, I am of the opinion the parking complexes should take debit as well, but that is just me being selfish
 
#70
#70
VOLINVONORE said:
Inflated number. The 1.1mil is inflated by the cost of the material ( food and beverage products) which are already purchased but unused. Any food prepared and not used is deducted from the income as spoilage. While there is a reduction in income from loss sales, it is not an expense.
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Did you major in accounting?
 
#73
#73
billbattle said:
Cards are quicker than making change.
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sad isn't it,that the young ones can't count money fast, that was pretty much a requirement years ago at McDonald's,now they stand around and wait on the computer,of course i remember my uncle saying that the worse thing that happened to McDonald s was hiring women,he was a manager back then,he said you couldn't slam em into the wall to get there attention,they would cry lol and yes,I'm serious
 
#74
#74
NEOCON said:
I want to start this because it is important. then I will go back to honoring my ban bet. there is only one reason a company shuts down its credit card billing side...they are in a huge revenue crunch. Amex, visa, etc take roughly three percent off the top and bill grossly per month. This is not a very good sign for any business when you cut this out and a sign UT is in financial problems.
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wouldn't know haven't been there since they hired dooley, not coming till hart and idiot company show they want to win.
 
#75
#75
billbattle said:
Yes, basic, but did he get it right?
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Well, the food is already bought and paid for, so at least part of that number is already lost.

All that's happening is some revenue being left on the table, but it's likely not as huge as the one guy's numbers make things out to be. I'm also not too sure the average expense at a game on concessions is $14/seat, despite what anybody says.
 
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