AUSTIN (KXAN) — Conversations with the Southeastern Convention (SEC) or another convention can now start after the University of Texas and the University of Oklahoma’s announced Monday that the colleges is not going to renew their grant of rights agreements with the Massive 12, beginning the method of splitting ties with the convention.
The impression of UT shifting conferences will stretch a lot additional than the college, probably offering financial advantages for the native economic system.
With every dwelling soccer recreation drawing in round 100,000 followers, senior challenge supervisor for AngelouEconomics Dr. Matt Patton says, “Texas Athletics itself is form of an financial juggernaut, and it’s going to have a huge impact, no matter what convention it goes into.”
AngelouEconomics final studied UT Athletics’ financial impression in 2015. On the time, the group estimated that sports activities at UT pumped out greater than $728 million yearly into the native and state economies.
“Customer spending was virtually $282 million yearly,” Patton recalled. “Simply tailgating at UT dwelling video games was proper round $33 million.”
He’s assured spending has risen since then — and he expects the native economic system to be in prime place for a lift if Texas strikes to a convention just like the SEC. The SEC is wealthy in custom with loyal followers that may journey and tailgate in cities throughout the convention, which can profit Austin companies.
“After we begin speaking about fan bases, actually passionate, in different conferences, coupled with the thrill of coming to a brand new metropolis, a metropolis like Austin, the place everyone desires to be on a regular basis, we will anticipate actually giant crowds to return,” Patton mentioned. “Even when they’re not attending the sport — spending cash in our economic system, motels, eating places, bars, all the pieces else you may consider, grocery shops for your entire tailgating provides.”
He factors to the identical circumstances taking place in Lincoln, Nebraska, when the College of Nebraska realigned from the Massive 12 to the Massive Ten in 2011.
“Within the Massive Ten, different member establishments noticed that as a very nice alternative to go go to one other metropolis and soccer supportive group,” Patton mentioned, “And the College of Texas is on one other stage so far as that, particularly by way of nationwide attain. So, we might anticipate lots of people wanting to return to see what the Austin and UT soccer expertise is all about.”
Patton says one study executed practically a decade in the past after Texas A&M left the Massive 12 and moved to the SEC estimated that School Station would see an additional $23 million in financial impression — due to realignment.
He expects Austin would usher in much more new income than School Station.
“I’m not going to talk about which one’s higher or something like that,” Patton mentioned smiling. “However there are lots of extra alternatives to spend cash in a metropolis like Austin.”