Tom Jurich has the Midas touch when it comes to generating profits from college athletics, making the perfect hire in Bobby Petrino, according to Forbes Magazine, which knows a thing or two about successful investors:
When Petrino took over Louisville in 2003, the team had revenue of nearly $10 million and profit under $3 million. Just three years later the team had doubled its profits thanks to increased revenue of $19 million. In the year following Petrino’s departure, the Cardinals saw both revenue and profit drop by more than 15%.
Petrino’s financial ability was on further display when he joined Arkansas, which he turned into one of the SEC’s most cost-efficient teams. Under Petrino’s guidance, the Razorbacks became the eighth-most valuable program in the country, worth $89 million in 2011. That was a staggering 59% increase from just two years before. The team’s value has plummeted since he left. In 2012 the team was worth $83 million, and that value fell another 11% to $74 million in our most recent valuations.
Petrino deserves credit for the financial success that comes with winning programs. All he does is go out there and win big.
Jurich, however, is the risk taker, investing heavily in Petrino, recognizing the potential for achieving still another financial windfall.