Abilene Christian University (ACU) President Phil Schubert estimated Monday that his basketball team’s upset win over the University of Texas in the opening round of March Madness earned ACU roughly $120 million.
The Wildcats took down Texas 53-52 on March 20, marking ACU’s first-ever win in the NCAA tournament.
“So far we are close to $120 million-plus and we really haven’t had time to tally up the totals,” Schubert told the Fort Worth Star-Telegram before ACU’s second-round matchup against the University of California Los Angeles. (RELATED: The Start Of The NCAA Tournament Has Officially Arrived)
Texas was expected to win the game by eight points, according to CBS Sports. ACU entered the tournament as a No. 14 seed. No team ranked that low has ever won the national championship, and a No. 14 seeded team had not won a March Madness game since 2016, according to sportingnews.com.
INDIANAPOLIS, INDIANA – MARCH 20: Joe Pleasant #32 and head coach Joe Golding of the Abilene Christian Wildcats celebrate after defeating the Texas Longhorns 53-52 in the first round game of the 2021 NCAA Men’s Basketball Tournament at Lucas Oil Stadium on March 20, 2021 in Indianapolis, Indiana. (Photo by Tim Nwachukwu/Getty Images)
ACU’s men’s basketball team has only competed at the Division I level since 2013, and this year marked their second-ever trip to the NCAA tournament. Their first appearance was in 2019, ending quickly after an opening-round blowout loss against the University of Kentucky.
However, ACU estimated the exposure from the 2019 tournament was worth $74 million, according to the Fort Worth Telegram.
“Nothing compares to the level of visibility and market value that comes with men’s basketball,” Schubert said. “There is no way we can afford the type of the kind of investment return we get here. It shows you what an incredible opportunity these situations bring,” ACU officials said.
“I hope people learn about ACU,” head coach Joe Golding added after Monday’s game. “It’s a special place.”