(The Center Square) – A University of Illinois professor says the economic benefit of the school’s mens basketball team reaching the NCAA Final Four will easily outweigh the potential costs.
The Fighting Illini are scheduled to play Connecticut in Indianapolis on Saturday.
Jason Satchell, teaching assistant professor of finance at U of I, said the Final Four appearance would bring the school millions of dollars worth of exposure, plus participation funds from the NCAA.
“There’s been a positive correlation here in the last decade or so where schools that have excelled athletically have seen better enrollment, improved enrollment in terms of selectivity,” Satchell told The Center Square.
Satchell said the university would likely give coach Brad Underwood a contract extension with higher pay.
“From a statistical standpoint, looking back at all these schools, the benefit when it comes to enrollment, it outstrips any kind of financial impact it’s going to have towards putting that towards a coach,” Satchell said.
The last Illinois school to reach the Final Four was Loyola in 2018. Satchell cited the Flutie effect for schools gaining attention and students after athletic success.
“For a small school like that, it’s probably something that’s from a benefit standpoint as a percentage far greater than a large public institution like University of Illinois,” Satchell said.
Satchell said Indianapolis will benefit from the Illini being in the Final Four.
San Antonio officials said the 2025 Final Four at the Alamodome generated $440 million in economic impact with just under $100 million in direct spending.
Satchell said 75,000 to 100,000 unique visitors will be spending money in Indianapolis this weekend.
“A lot of those are going to be individuals from the state of Illinois that’s taking their money to a different state to watch the game. So, absolutely, the state of Indiana is going to benefit and obviously the city of Indianapolis is going to benefit as well,” Satchell said.
Satchell said the success of Illini sports teams provide an economic boost in Illinois, but there could be a substitution effect on consumers.
“They’re not really necessarily increasing the amount of expenditures within the state. So maybe they do come to more games, but they’re stopping going to maybe like a movie theater,” Satchell said.
Satchell said sports success can provide a net benefit where people feel better about where they live.
“If we have things that we can share about and feel good about, that’s invaluable and, ultimately, you can’t put a cost on that,” Satchell said.
