Georgia Tech has a good use for the money it's going to get from the Rolling Stones.
The legendary rock band is playing a concert at Bobby Dodd Stadium on June 9. And, coincidentally, Georgia Tech will be providing increased stipends for its athletes in the next school year as part of reforms passed by the Power Five conferences to allow them to provide cost of attendance compensation.
So athletes at Georgia Tech can thank Mick, Keith and the rest of the band for bigger checks next year according to athletic director Mike Bobinski. From ESPN:
In total, Bobinski said covering cost of attendance will add an extra $500,000 to the school's athletic department budget. He said Georgia Tech is expected to receive at least half that amount from the concert.
"The reason we’re doing that is not because we want to have a concert on our great football turf, it is to find ways to generate other revenues," Bobinski said. "We have to look for other things to fill in the gaps."
Georgia Tech may not be the only school utilizing the Rolling Stones to help with cost of attendance either. The Stones are also playing at the stadiums of Minnesota, North Carolina State and Ohio State in their North American tour.
It's a smart idea. While cost of attendance figures vary from school to school (based on cost of living factors), each school covering cost of attendance in its athletes' scholarships will have increased expenses moving forward. And not every school runs a surplus like Alabama or Texas. If big-name concerts continue to be a reliable revenue-producer, the Rolling Stones could be the start of an on-campus stadium concert trend.
For more Georgia Tech news, visit JacketsOnline.com.
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Nick Bromberg is the assistant editor of Dr. Saturday on Yahoo Sports. Have a tip? Email him at nickbromberg@yahoo.com or follow him on Twitter!
From Dr. Saturday - NCAAF - Yahoo Sports - Ga. Tech helping fund cost of attendance with the Rolling Stones
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