BIG 12:
Big 12 bid would be ‘huge’ for Memphis economy, spirits
If the U of M is selected, it could be ‘huge, huge, huge for this city’ economically.
When the University of Texas football team traveled to Oxford to play Ole Miss in 2012, Memphis Convention & Visitors Bureau president Kevin Kane watched visiting fans flock to Beale Street. The Peabody Hotel quickly sold out. The Rendezvous was packed. The whole city seemed to take on a hint of burnt orange.
“You would have thought the game was being played in downtown Memphis with all the people that were here,” Kane said.
It was just one game — and a game being played 80 miles away, at that — but its ripple effects were felt throughout the community. There was an economic uptick, and a noticeable big-game feel downtown. People who might not have otherwise visited Memphis now had an opportunity to explore the city.
Now, Kane said, imagine the impact of hosting crowds like that on a regular basis.
“All of a sudden you have Oklahoma coming in one week, you have Texas coming in a few weeks later,” he said. “Those things are within the realm of possibility. And that’s huge, huge, huge for this city.”
On Tuesday, the Big 12 Conference announced that it is actively evaluating candidates for expansion, with the possibility of adding two or four teams. And it’s no secret that the University of Memphis desperately wants to be one of them.
University president M. David Rudd has said that such a move could be “transformational” for the school, giving it millions of dollars in new annual revenue and drastically raising its national profile. But it could be every bit as transformational for the city of Memphis, which counts the university as one of its most important institutions.
The U of M matters to Memphis in a way unlike other expansion candidates in larger cities. So joining the Big 12 may have a deeper impact in the community here than it would in Cincinnati or Houston, for example.
“I think every family in the community has a touch point with the university,” said Terence Patterson, president and CEO of the Downtown Memphis Commission. “Given that, and given the exposure and the energy that the Big 12 Conference could bring, I just think (the impact would be) immeasurable.”
The immediate economic impact of joining the Big 12 is obvious. More Oklahoma and Texas fans attend road games than Connecticut or Tulane fans, which translates to more hotel room reservations, more local restaurant sales and a boost to the tourism and entertainment industries.
For example, the AutoZone Liberty Bowl, an annual game between Big 12 and Southeastern Conference teams at Liberty Bowl Memorial Stadium, generates an average of $25 million to $30 million throughout the local economy every year. According to Kane, last year’s game between Arkansas and Kansas State had the largest economic impact of any single sporting event in the city’s history.
Steve Ehrhart, the Liberty Bowl’s executive director, hopes the event has shown
the Big 12 what Memphis could provide as a member of the conference.
“Our mission has been to assist the University of Memphis’ efforts to reach the highest levels they can and to showcase our city,” he said. “One of the key reasons we brought in the Big 12 (as a Liberty Bowl participant) was to put the University of Memphis’ and the community’s best foot forward.”
The economic impact of joining the Big 12 goes beyond the temporary boost provided by traveling fans, however. Patterson said it would add to the already-growing energy and excitement of Downtown, while Mayor Jim Strickland said it would increase national visibility for the city, and therefore help the local economy on a broader scale.
“I think being in a Power Five conference enhances life in Memphis, and therefore makes it easier to recruit and retain businesses and individuals,” said Strickland, who graduated from the university in 1986 and is a longtime basketball and football season-ticket holder. “When you expose the city of Memphis to more people — and we have a fantastic city — it opens up all kinds of doors for economic development.”
Several community leaders said joining the Big 12 would be on par with the arrival of the Grizzlies in 2001, both in terms of economic impact and the city’s overall vibe.
“(It’s) what I call the air of good feeling for our community,” said Methodist Le Bonheur Senior Vice President Cato Johnson. “I think it creates a tremendous positive feeling throughout the community. It allows us to focus on the positives.”
“This has the same type of energy (as the Grizzlies’ arrival),” Patterson added. “It has a certain pop to it that can’t be understated.”
In Cincinnati or Houston, the addition of Big 12 football and basketball may also provide a pop. It may also provide economic benefits. It may also bring new tourists to the city.
In Memphis, however, it would likely be on a different scale.
“The Big 12 would take us to a different level,” Kane said. “It’s a game changer for this community.”