The University of Kentucky gave men's basketball coach John Calipari a two year contract extension this week. Love him or hate him, Coach Cal has definitely put UK back in the spotlight, so one would naturally think the extension is all about on-the-court success. However, the university has benefited in other ways as well, according to KSR the authoritative source on all things UK-sports-related. Calipari told ESPN Radio:
“Our licensing revenue doubled last year and half of that double goes back to the general fund on our campus, $4.5 million in licensing. The other thing is we had 14,000 applicants for 4,000 positions for the freshmen, which is the highest in the history of the school. What you hope is you’ve added value … for everybody, not just me."
I bet alumni donations are up as well. Another example of the economics of superstars.
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