Is it is strictly point differential or ATS differential? I was under the impression that the spread comes into play, meaning if we beat St. Johns by 10 (-2.5) and Tennessee beats Rutgers by 12 (-15.5), we would be "ahead" of them in that scenario.
Players Era
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I’ve only seen straight point differential. But it is of teams within your pod. So the 8 teams in your pod are who you are competing with.
Looking at the schedule, Michigan appears to be the heavy favorite to make it to the championship game due to their opponents. ISU, SJU, Baylor, and Creighton are going to beat up on each other that even a team that goes 2-0 isn’t going to have a great point differential.
Looks like they stuck most of the teams in the Park MGM, one of my underrated favorites and also reasonably prices at $100/night on average (and smoke free).
Just throwing out the major expenses
Expenses for 32 teams
Hotels: ~$500k (32team x 25 people x $100 x 5 nights)
Catering: $1M
Staff: $10M/yr ($2M in salary the week of, went conservatively high)
Flight stipend: $100k per school
Payout: $1M per school
$50M ish in major expenses per year?
If March Madness gets a billion a year, this would just need to get 33% of that (330M) to have these expenses be 15% of their revenue. I don't know how realistic that is at all.
But I could see this being $100M a year in media rights when everyone is guaranteed 3 games (so actually the same number of games as all of March Madness).
I realize you are competing within your pod. I just threw Tennessee in there because it was the largest spread I could find as an example.
If it's not adjusted for the spread, then the prize bonus for the "champion" seems stupid. But I'm sure they don't want to be tied to gambling. I mean a basketball event held at casinos in Las Vegas, Nevada broadcast on television with 4 out of every 5 commercials advertising sports books is as pure as the driven snow.
Hopefully when it goes to 32 teams and with the likelihood of 8 B12 teams in it each year, they will go to pods of 8. Maximum of 2 conference teams in each pod on opposite sides of each of the 4 brackets. Split the bonus money and pay 1st and 2nd from each pod.
You've also got to rent at least two, if not three, major arenas for the week.
I'm sure they've 'mathed' it all out but Matt Brown has reported that they are WAY in the red this year and maybe they're cool with it just being a loss leader for other ventures under the same umbrella. I hope the event makes it because it's good for the sport but I just can't wrap my head around how the financial model ever gets to be consistently in the black.
What are the chances Iowa State goes back to Vegas next season? I wish I could have gone this week!
Very, very, very high. I am already planning to come back next year. Beers on me Duke if you come.
This seems like a an expensive tab if rumors are true of Dukes drinking ability.
More info from SBJ about the Big 12's future tie-in with this event:
Big 12 to get investment stake in Players Era Festival
The Big 12 is set to announce a five-year deal to take a 15% equity stake in Players Era, along with a minimum guarantee from annual revenues.www.sportsbusinessjournal.com
The Big 12 is set to announce a five-year deal to take a 15% equity stake in the Players Era Festival, along with a minimum guarantee from annual revenues, those involved with the agreement told Sports Business Journal. The equity stake begins immediately, while the minimum guarantee will begin with next year’s event.
As part of the deal, the Big 12 will receive eight bids to the Players Era tournament when it expands to 32 teams next season. Those teams will be selected based on conference standings from the previous year.
Seth Berger, CEO of Players Era and the former founder of And1, noted the tournament is also set to put $50M-plus into Big 12 basketball programs in rights fees as part of the deal slated to be announced on Monday.
I read "when it expands to 32 teams" as the Big 12 was expanding to 32 teams...because in this era nothing really seems that crazy.
So I shouldn’t make it “beers”. I should make it “a beer”
Well MGM owns the two arenas they are using this week and they are majority owner of T Mobile Arena to use as the 3rd. This week is typically quite dead so while it ain't free I'm willing to bet MGM is happy to accommodate as part of their sponsorship
I think it'll be wise to get a reoccurring reservation at your favorite casino on during Thanksgiving week.
My liver works double in Vegas. Start the day with an Irish Coffee and see where the wind takes me. Drinking with fellow Cyclones in Sin City would be awesome.
I'm there right now (Palm Springs) visiting some family from Iowa in town for the tournament, selfishly I wouldn't mind if ISU played in it to get a bunch of games near where I live.
UNI sold out their allotment too. Lots of Iowans headed your way for the next few days!
Have fun, I really like Palm Springs!
Thanks to everyone contributing to this discussion, it’s interesting and I did wonder about these things when I saw the Big 12 was going to take a stake. I’m not a business mind but will just say I do think this is Yormark rolling the dice (no pun intended), hoping the best is yet to come. If nothing else he’s shown he’s willing to take chances… Aside from getting two teams in the CFP every season, I think leaning into basketball—even while taking risks—is the best way the Big 12 can keep poking the SEC and Big Ten, reminding them they’re still around
I completely understand the financial motivation to participate in this, but damn - going to miss some of the fun destinations for Thanksgiving tournaments over the years. Has been a family tradition but just can’t get excited about Vegas with the kids. Especially late November.
Such is the way of the world with college athletics.
Such is the way of the world with college athletics.
