Considering how many programs lose money from their bowl trips, it’s pretty rare -- and remarkable -- when a school is able to make a profit from a postseason game.
Such was the case for Iowa, who already walked away with an Insight Bowl victory over Missouri. According to information obtained by the Iowa City Gazette, the Hawkeyes made $382,500 from its trip to Phoenix last December.
Iowa received a $1.8 million allowance from the Big Ten Conference to compete in the bowl game and spent $1.417 million, according to the article.
It should be noted that Iowa’s profit did not include any deductions from unsold tickets. The Gazette states that Iowa received an allotment of 11,000 tickets for the bowl, but only sold about 6,700. The Big Ten absorbed $361,171 from those unsold tickets and the university absorbed about $32,000.
As it stands, several programs lose thousands, sometimes millions, of dollars in bowl appearances.
Did we mention the Department of Justice is calling for a playoff?
