How Much is LSU Worth to the SEC?
(KMDL-FM) The member schools of the Southeastern Conference will hold a meeting on Thursday to discuss what should be done about LSU. The SEC has concerns that the Tigers were going to allow players who had "gone pro" to return to campus and play with their remaining NCAA eligibility.
Member school presidents will convene on Thursday to vote on whether LSU should be expelled from the conference for considering the idea.
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So, the SEC, which allows its member schools to pay athletes, is concerned that LSU wants to use athletes that somebody besides a college program has been paying. According to NCAA rules, the athletes are still eligible to play for a college program, but because a pro team paid them once, maybe twice, they are now forbidden fruit.
I am not sure I am seeing the common-sense reasoning in that approach, but I am not a college president and therefore still have the ability to think rationally. And my rational thought process took me down this road with one simple question. How much is LSU worth to the Southeastern Conference?
It turns out the correct answer is "plenty". No, LSU "leaving the SEC" wouldn't kill the conference, but it sure would put a dent in the corporate payroll at the SEC's home office, and the television revenue would suffer tremendously.
How much is LSU Football Worth?
According to The Wall Street Journal, just the football program at LSU is valued at $1.06 billion. It is among the most valuable football programs in the country. The entire athletic enterprise at LSU is valued at $1.3 to $1.7 billion.
LSU football games have an average viewership, according to Nielsen, of 4.8 million people. The Tiger TV ratings only fall behind Georgia, Ohio State, Alabama, Texas, Tennessee, Michigan, and Texas A&M. So the SEC would be dropping its 6th most popular television draw if they dump the Tigers.
An estimate via ChatGPT suggested that the Tigers provide 5% to 8% of the SEC's Premium football media value, and just Tiger football is responsible for $30 to $60 million annually in television viewing value.
Let's not forget LSU Baseball is a big draw for the SEC, and I seem to recall Women's Basketball turns a few heads as well. LSU gymnastics is a mainstay on the SEC Network too.
What is LSU's total valuation to the SEC?
Here is the caveat to what you're about to read. We don't have hard, fast, confirmed numbers, but our estimates and valuations are based on reports from respected entities such as The Wall Street Journal, Sports Illustrated, and other sources we have deemed reliable; the figures you're about to see are unconfirmed estimates.
LSU Football Television Inventory $30-$60 million
Lost TV Ratings Value $10-$25 million
Baseball and Other Sports Value $5 to $15 million
Sponsorship/Branding Value $5 to $15 million
Estimated Total Impact of the SEC "losing" LSU - $50 to $115 million
The numbers above are based on an annual impact. Over time, the economic impact to the SEC from losing LSU would run from $500 million to $ 1 billion.
What if LSU Was An Independent School Without a Conference?
If Notre Dame can do it, why can't LSU? We ran the numbers; again, these are estimates based on "likely scenarios" involving television deals, media rights, sponsorship, and potential TV revenue. This assumes the Tigers would still book "name" opponents such as Ohio State, Texas, Notre Dame, Florida State, et al.
LSU Football Media Rights $30 to $50 million
LSU Ticket Sales $45 to $60 million
Donations $60 to $90 million
Sponsorship/Licensing $15 to $30 million
Other Sports/Media $10 to $20 million
Playoff/Bowl/NCAA Revenue $10 to $30 million
Estimated Total Revenue as an Independent - $170 to $285 million.
LSU's Value to the SEC - What it Means
Based on the numbers we've crunched, even as broad estimates, we think this means the SEC would be foolish to allow LSU to leave willingly and would be the butt of every sports talk show host's jokes if they forced the Tigers out of the SEC. The program is too valuable in real dollars and worth even more in emotional/rivalry capital.
The SEC Presidents and Chancellors will meet on Thursday. They will not expel LSU. They will make it look as though they are "putting the Tigers in their place", but if anything other than that happens as a result of Thursday's meeting, I think we'll be shocked.
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Oh, and if you're a fan of Louisiana Tech, I don't know that I would want to watch Saturday's game with LSU. There could be some pent-up frustration and a little bit of "take that" directed at the Bulldogs. No, Louisiana Tech is not in the SEC, but if the SEC needs a Louisiana school...nah let's not go there.
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Gallery Credit: Gary McCoy
