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Stadiums Beat Stocks as Colleges Bet Football Is Recession-Proof

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"As the worst recession since the Great Depression beat down the S&P 500 Index 41 percent between July 2, 2007, and July 1, 2009, and caused more than 8 million job losses, athletic departments such as Texas and Louisiana State University used their on-field success to drive increases in operating revenue," Bloomberg reported. "Among the largest schools -- the nine with at least $90 million in operating revenue -- the biggest winners were Texas, up 32 percent to $138.5 million; LSU, up 32 percent to $100.9 million; and Texas A&M, up 33 percent to $98.1 million, according to a review of athletic department financial records," Bloomberg said. “Good grief, who is in charge down there?” asked Texas Athletic Director DeLoss Dodds, making a joke on his own behalf. “He needs a raise.”

Still, a Minyanville study shows more than two-thirds of college athlethic directors fail to beat the S&P 500 each year.

SOURCE:   Bloomberg