TERRE HAUTE, Ind. (WTWO/WAWV) — The First Financial Classic basketball tournament is four days of guaranteed excitement as 16 local teams compete for the winner’s trophy and big bragging rights; but there is much more to be gained from participating in the four-day tournament.
“After the expenses, all of the monies collected goes to the participating schools,” Ticia Wright, First Financial Bank Public Relations and Administrative Officer, said.
Those expenses Wright mentioned are typical for big events; for example, officials and security must be paid for their time spent in the gym. Since First Financial became the exclusive sponsor of the tournament in 2015, though, leaders at the bank said they’ve been determined to limit those expenses and increase the revenue given to the schools.
Wright pointed to the partnership with Chick-Fil-A as an example; the restaurant provides team meals and takes that line item off of the expense portion of the budget.
So, how do the teams make money?
Each school that takes part in the tournament receives a check for its participation; if your team makes it to the final day, that means more revenue than if your team is eliminated on the third day.
In 2022, there was over $47,000 in gross revenue given to the participating schools, and while the amount per school varied, no team walked away with less than $2,700.
Ticket sales help boost the schools as well, but there is also the chance to sell advertising space in the Classic program handed out every year. Wright said this is an opportunity to partner with local businesses, and encourages schools to reach out to those potential partners.
“Don’t underestimate the businesses in your communites that are willing to help you and are jsut waiting to be asked,” Wright said. “Not too many people are going to come to your door and offer you money if you don’t ask for it.”
This year, three participating schools sold ad space in the program, totalling over $14,000. Greencastle High School raised the most money at over $9,000 in ad sales alone.
“We’ve been able to raise a lot of money through the program sales,” Head Coach Bryce Rector said. “The community of Greencastle has just done a fantastic job of backing us and it really does go a long way for our program.”
Rector said the revenue allows Greencastle High School to provide experiences for the student athletes that otherwise may not happen.
And at the end of the tournament, win or lose, the student athletes are the focus of each program that competes.
“This is such a good cause,” Wright said. “We’re making an investment in these student athletes.”
