'Return on investment': How Kim Mulkey's new deal with LSU could impact women's basketball

Return on investment.

When LSU Athletics Director Scott Woodward plucked Kim Mulkey away from Baylor to come coach the Tigers in her homestate back in April 2021, Debbie Antonelli immediately — and correctly — predicted the impact of the move.

More than two years later, not only has the LSU women’s basketball fanbase and general LSU athletics supporters felt the dramatic shift in the program, but the nation and college athletics have witnessed a visible, tangible lift in Baton Rouge that has real potential to stretch beyond the bayou.

This offseason, Mulkey signed an extension with LSU, making her the highest-paid women’s basketball coach in the country, a new 10-year, $36 million deal which she’s set to pocket more than $4 million by 2033. The extension certainly was a reward for the now four-time NCAA championship-winning coach leading the Tigers to their first national title, knocking off Iowa, 102-85, back in April.

But the ripple effect of Mulkey’s new deal far eclipses the strictly exponential on-court rise within the team. It’s the sharp 56% uptick in season tickets sold and the near $2 million increase in concession sales and parking.

“That’s return on investment,” Antonelli, a longtime friend of Mulkey and one of the women’s game's most respected analysts, told The Daily Advertiser. “(Mulkey’s new contract), it’s not just what means to others in the SEC, but it’s about what time we’re in — 9.9 million tuned into the NCAA championship game.

“LSU believes Kim is marketable and economically an opportunity to see further growth. They’re not paying her for what’s been done but paying for a future economic forecast. They’re not throwing money around to be nice; they’re expecting something in return. And so far, she’s delivered.”

Where women’s college basketball currently stands adds something further to watch in the aftermath of Mulkey’s deal.

Thanks to LSU stars Angel Reese, Flau’jae Johnson, Iowa star Caitlin Clark, South Carolina coach Dawn Staley, UConn’s Paige Bueckers among countless others, the game has never been more popular. The transfer portal allowed Mulkey to expediate her path to coaching the Tigers to a title. It also expands the legit national championship contender pool to include teams such as UCLA, Ohio State, Tennessee and many others.

With more contenders, could other institutions invest more into their women’s basketball program to follow LSU, as well as South Carolina, UConn and Stanford’s lead?

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“Winning has a lot to do with it,” said longtime ESPN women’s college basketball analyst Carolyn Peck. “Then you have to look at the administrations that are willing to invest. It’ll be interesting to see how conference realignment affects the purse of some schools to possibly be able to do that.”

The line is surely fine. For ADs and universities, there would need to be proof there could be a return on their investment. History and trends do provide some of that as the more a team wins, the more excitement and following it can drum up.

Gary Blair coached Mulkey at Louisiana Tech alongside Leon Barmore. All three are now Hall of Famers as Blair went on to win a national title at Texas A&M, where he retired from a couple of seasons ago.

What he knows about Mulkey and her decades-long impact on the women’s game has been there’s always others that benefit.

“If you’re an AD, doing what’s right or doing what looks good on paper,” Blair said. “LSU is putting butts in the seats, just like UConn and South Carolina is. LSU’s facility, there’s actually a lot better than there is across the country. A&M, Ole Miss, they need butts in the seats and not giving away seats.

“People are aware of (women’s basketball) now. I think that’s good. Let’s see how far we can go. Let’s put butts in seats. That’s very important.”

Women’s college basketball is not a novelty act, Peck, Antonelli and Blair agreed. There’s real momentum to capitalize on, from this past season’s most-watched NCAA title game between LSU and Iowa, to women’s athletics overall, highlighted by 90,002 people attending a Nebraska volleyball game inside Memorial Stadium in Lincoln.

“Everything has been building to where last season ended up,” Peck said. “It’s a process. Women are more talented and the coaches, like Kim, make the games more competitive now. There’s several ‘once in a generation’ players.

“The game continues to process, and it’s not charity but a revenue-possible sport. It’s a game that people have value on and are willing to pay to see, advertiser and people are watching it.”

Mulkey’s impacted the game going on four decades as a player and coach and has seen how it’s changed first-hand, in good and bad ways. For years, last season included, Mulkey has been a clear reason many keep coming back to watch and be entertained.

Her being at the top of the sport in pay could possibly dictate and sustain the success of women’s college basketball for years to come, as more investment follows.

“We are at a pivotal moment in our game. What LSU is doing and what South Carolina, UConn are doing, paying their coaches for recognizing the return on investment and the economic forecast. They believe in them and it’s exciting,” Antonelli said. “The product is the narrative.

“People want to be there, they’re the talk of the town. Historically, the women’s game hadn’t been that way. This is historic. It’s the middle of college football season and this is a huge story line in sports. Not just basketball but all sports.”

Cory Diaz covers the LSU Tigers and Louisiana Ragin’ Cajuns for The Daily Advertiser as part of the USA TODAY Network. Follow his Tigers and Cajuns coverage on Twitter: @ByCoryDiaz. Got questions regarding LSU/UL athletics? Send them to Cory Diaz at bdiaz@gannett.com.

This article originally appeared on Lafayette Daily Advertiser: How Kim Mulkey's new deal with LSU could impact women's basketball