Feb. 26, 2004
The University of Iowa’s Board in Control of Athletics approved increases in the cost of season and single-game tickets to home games of the 2004 Iowa football team at its monthly meeting Thursday.
The cost of a general public season ticket will move to $250 for the six-game home schedule of the Iowa Hawkeyes. A season ticket cost $246 in 2003, however, Iowa played seven home games last fall inside Kinnick Stadium. The price increase is approximately 13 percent when one compares the cost of six games to six games ($221 in 2003 to $250 in 2004).
One of the UI Athletic Department’s largest expense items is the cost of the scholarships it awards. The UI Athletic Department expects to write a check in excess of $7.3 million to the University for the scholarships it will provide more than 650 student-athletes in 2004-05 — $550,000 more than the check it wrote for the scholarships it awarded in the 2003-04 academic year.
The cost of Iowa’s general public season ticket compares favorably within the Big Ten Conference. It is projected to be less than general public season tickets sold at Michigan ($360), Ohio State ($342), Penn State ($252) and Purdue ($248) and slightly ahead of those to be sold at Michigan State ($228), Illinois ($208) and Minnesota ($200).
The cost of a season ticket for University of Iowa faculty and staff will move to $206 in 2004, compared to $204 a year ago. The price increase is approximately 12 percent when one compares the cost of six games to six games ($184 in 2003 to $206 in 2004).
The cost of a season ticket for University of Iowa students will remain at $105. The price increase is approximately 17 percent when one compares the cost of six games to six games ($90 in 2003 to $105 in 2004).
Single-game tickets, if available, will cost $44 in 2004 compared to $40 a year ago. The cost of a single-game ticket to this year’s Iowa-Iowa State game to be played in Iowa City on Sept. 11 will cost $55.
In addition to the Iowa-Iowa State game, the 2004 Iowa football team’s home schedule includes games against Kent State and Big Ten Conference rivals Michigan State, Ohio State, Purdue and Wisconsin.
The price increase is expected to generate additional net income of $500,000 for the UI Athletic Department. Iowa is projecting to generate approximately $12.9 million in net income from the sale of tickets to its home football games in 2004.
The UI Athletic Department cited an announced 8.1 percent increase in tuition as one of the primary reasons a ticket price increase is required. The UI Athletic Department projects it will pay an additional $550,000 to the University for tuition, room and board and student fees in 2004-05.
As a result of that increase, the UI Athletic Department expects to pay the University more than $7.3 million for scholarships it will award to student-athletes in 2004-05.
The UI Athletic Department said the ticket price increase will also help pay expected increases in the department’s annual operating budget including payments made to visiting teams and the Big Ten Conference.
“Ticket price increases, whether they come in football, men’s basketball, women’s basketball, or wrestling – the programs we count on to generate significant income — are always our last option when we look to create the financial resources required to operate our intercollegiate athletics program,” said UI Director of Athletics Bob Bowlsby.
The UI Athletic Department noted that it will continue to sell a variety of ticket packages including three-game “mini-season” packages, “Family Four Packs,” discounted tickets for groups of 30 or more and discounted tickets for boys and girls high school aged and younger. The details of those ticket options will be finalized in the coming weeks.
Bowlsby indicated that the revenue generated from the sale of tickets to the home games of Iowa’s football team is the largest single source of income for the UI Athletic Department.