In anticipation of revenue sharing, the University of Tennessee will increase season ticket prices by 10%.
- The cost of season tickets for all sports in Tennessee will increase by 10%.
- The school announced that it will introduce a "talent fee" to prepare for the anticipated revenue sharing model that Tennessee expects to be implemented as early as July 1, 2025.
- The 2025 Tennessee football season ticket holders received an email notification about the upcoming changes.
According to an email sent to football season ticket holders on Tuesday, the University of Tennessee is increasing its season ticket prices by 10% across all sports to allocate a portion of the school's sports revenue to athletes.
The email stated that Tennessee is referring to its hike as a "talent fee" and that it will aid in funding the proposed revenue share for student-athletes.
According to an email, Tennessee believes that the proposed revenue sharing settlement involving three cases the NCAA is named in could go into effect as soon as July 1, despite a judge's concerns over some of the terms.
The proposed settlement would provide $2.78 billion in backpay to student-athletes and eliminate the cap on scholarships, while allowing schools to pay players up to 22% of the Power Five schools' average athletic revenue in a given year going forward, according to the NCAA release.
"As the collegiate model evolves, we must adapt," Tennessee Athletic Director Danny White stated in a video included in the email. "We must continue to be at the forefront. The link between resources and competitiveness has never been closer, and now we have the opportunity to share these resources with our student-athletes."
The 2025 football season will see changes in effect, including a 4.5% increase in the cost of single-game tickets.
In the 2022-2023 seasons, Tennessee's athletic department ranks eighth in the country for total operating revenue, according to Sportico's database of public university athletic departments.
Since 2021, college athletes have been allowed to profit from their name, image, and likeness, significantly altering college sports. Notably, star athletes have been able to secure substantial endorsement deals. However, universities have not yet begun sharing revenue directly with more student-athletes.
Business News
You might also like
- The auto industry is shifting away from its "capital junkie" habits following unprecedented investments in EVs and self-driving technology.
- Richard Branson encourages young people not to despair about the future, stating that we can conquer climate change.
- "Gladiator" earns $55.5 million while "Wicked" takes in $114 million in its domestic opening.
- Can Starbucks reduce wait times at its airport cafes?
- Paris's next big soccer success may be planned by one of the world's wealthiest families.