Tuesday, September 9, 2014

This is How Fables Become Facts

If you repeat an economic claim enough, people will start to believe you.

The tourism advocacy group "Visit Tallahassee" put out a report about the economic impact of FSU football.  That report went unchallenged.  Warchant.com reposted it.  Then statewide group "Florida TaxWatch" quoted it in a report of its own. 

Without getting into the nitty-gritty, I can dispel the report's credibility simply by pointing to its assertion that the FAU and FIU football programs are operating in the black.  If you regularly read this blog, you know students at those schools have to pay hefty subsidies to make up for all the money the programs lose.  So let's just assume there are plenty of other things the report isn't telling you.

Meanwhile, the Tampa Bay Business Journal takes a closer look at the University of South Florida's Under Armour deal, which pays approximately $1 million in product and another $625,000 cash annually.

While the contract includes some potential bonus incentives, its nothing compared to some of the other deals profiled by sister publication Portland Business JournalCheck it out - there's a searchable database of contracts for the country's biggest football powerhouses, including FSU ($4.4M/yr from Nike) and UF ($2.3M/yr from Nike).

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