Courtesy: Athletic Media Relations
LITTLE ROCK, Ark. (KTHV) -- College football has become big business over the years -- and Saturday's upset has the Razorbacks reeling.
In a matter of minutes, the Hogs went from looking like a Fortune 500 Company to a Wall Street bank badly in need of a bailout.
Along with the embarrassment of losing to an un-ranked team, the Razorbacks also lost out on millions of dollars.
What was supposed to be a warm-up game turned into a heated battle.
Horrified Hog fans looked on in disbelief as Louisiana Monroe did the unthinkable -- winning in overtime.
While some say a loss is a loss, this one is devastating as Arkansas dropped out of the top 25 poll after being ranked eighth in the country. And those numbers have a much bigger impact on the school and state's financial situation.
Arkansas paid ULM $500,000 to play the game, they rented the stadium for approximately $75,000 and then lost millions just a few hours later when ESPN's College Game Day Show announced it wouldn't broadcast live in Fayetteville for the match-up against Alabama.
A recent study conducted by the University of South Carolina estimates that the economic impact of having ESPN's popular show on a college campus brings in around five million dollars.
According to the Southern Economic Journal, a football program ranked in the top 20 sees a two to eight percent increase in student applications and a school can lose money in other ways if fans lose interest in the team.
And that's why it's so important for the Hogs to get back on track and right the ship.
But unlike a Wall Street bailout, Arkansas has to do it with hard work and a little luck as they host #1 ranked Alabama in Fayetteville.