I think given the costs of the schools to send their players, cheerleaders etc. to the games, schools lose money on these bowl games.
I read an article years ago about the scam that is bowl game season. The bowls force the schools to purchase half the tickets at premium prices in advance. and hopefully the schools can recoup the cost or the taxpayers fill the shortfall. That same article also mentioned how Ohio State lost money going to the Rose Bowl because they were required to buy a ticket for every player, coach, cheerleader, band member, etc, of course at premium prices on top of the travel expenses. The day that big time college sports in America dies the better. No, I don’t give a crap about the revenue or the kid’s scholarship. I’m trying to dry up the money to colleges and universities. Tear them down and rebuild from scratch.
Pretty impressive if Miami could lose money on a $4.55 million payout game. On the other hand, Marshall is probably losing money on the New Orleans bowl although Louisiana might break even if they ride buses. Same with the Frisco Bowl. UTSA could take buses, but SDSU probably lost money.