Previous research examines the impact college athletic success has on state appropriations, donations, student applications, and academic reputation, but not on the impact college athletic success has on an individual athletic program directly. Since nearly 70% of post-season bowl game Football Bowl Subdivision (FBS) participants incur bowl game financial losses, are there future benefits from post-season bowl game participation for the football program? The empirical results show prior post-season bowl participation has positive impacts on current recruiting and revenues, but not performance. Finally, 92% of programs cover their current bowl game financial losses from higher future variable revenues attributed to current bowl participation.
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