Sigmon Named CFO for New College Football Playoff
Feb. 5, 2013
MANHATTAN, Kan. - Reid Sigmon, who has played an instrumental role in the growth and development of the Kansas State athletics program in his four years as Senior Associate Athletics Director, has been named Chief Financial Officer of the new college football playoff and national championship game, BCS Executive Director Bill Hancock announced today.
In his new role, which will begin April 22, Sigmon will join Hancock and Chief Operating Officer Michael Kelly at the group's new headquarters in Dallas and be a senior leader on a staff that will have operational responsibility for the championship game and the new playoff.
"While Reid's daily presence will be missed dearly by each and every one of our 139 staff members and coaches and our 458 student-athletes in our 16 sports, the entire K-State Athletics family is very proud and excited for him to have this transformational opportunity," said K-State Athletics Director John Currie. "One cannot overestimate the impact of Reid on the growth and development of our athletics program from fiscal and organizational turmoil and a forecasted $2 million operating deficit four years ago to one now recognized nationally as a model of fiscal stability with a $59 million budget this year along with $100 million in ongoing athletic facility upgrades."
"I want to thank John Currie and the entire K-State family for the incredible opportunity these past four years to advance K-State Athletics and provide a world-class experience for all of our student-athletes," said Sigmon. "I am looking forward to this special chance to work with Mr. Hancock and his staff developing one of the greatest innovations to college football in decades. I'm anxious to get started and very excited to make the college football playoff a first-class experience for everyone involved."
At K-State, Sigmon also served as Chief Operating Officer and directed the daily operations of the athletics department while managing the finance, contractual and legal matters for the department. He also served as K-State Athletics' liaison with the University Counsel and the Vice-President for Administration and Finance and played an important role in the department's relationship and contracts with NIKE and K-State's multimedia rights-holder, Learfield Sports.
"Reid has earned the trust and confidence of all our staff and coaches as the department's `go-to-person' as well as developing a tremendous reputation across campus and with all K-State constituencies," Currie added. "He will bring valuable on-campus perspective into what makes a post-season experience special for student-athletes, coaches and institutional fans and brings credibility and common-sense to the new era of post-season football. In assembling a team led by professionals like Bill Hancock, Michael Kelly and now Reid Sigmon, it is very clear that the new post-season is absolutely on track to raising college football to even greater heights."
When he arrived in 2009, K-State Athletics faced a $2 million projected budget deficit, and Sigmon helped lead the department to a first-year surplus of $5 million, thanks to new measures promoting efficiency and cost containment, coupled with tremendous fundraising success. In May of 2011, USA Today recognized K-State as one of just 22 athletic departments in the nation to operate in a surplus in 2009-10 and one of only five to do so while decreasing expenses from the previous year.
Sigmon, who in his career has previously served in top financial and management positions at three Super Bowls as well as a Final Four, also directed the athletic department's human resources and information technology offices, ticketing and fan strategies department, equipment operations and served as the sport administrator for rowing, volleyball, tennis and football.
"Reid was a great friend of our football program," said head coach Bill Snyder. "He always strived to do what was in our very best interest. Reid is a very caring, committed, responsible and hard working young man, and I am certain he will be a major success in his new position."
The group announced in June that the new college football playoff format would begin with the 2014-2015 season, and earlier this month announced that the 2015 semifinals would be played in Pasadena, Calif., and New Orleans, La., along with the preliminary rotation for the semifinals in 2016 and 2017. The group continues to work on remaining issues including:
Creation of a selection committee that will rank the teams to play in the playoff, giving all the teams an equal opportunity to participate. Among the factors the committee will value are win-loss record, strength of schedule, head-to-head results, and if a team is a conference champion.
"The new playoff will be a world-class event, and we're delighted that a world-class manager like Reid Sigmon will be helping to bring it together," said Hancock. "His business acumen, coupled with his vast experience in event- and stadium-management, gives him the perfect background to achieve our vision. Reid is widely respected because of his personality, work ethic and attention to detail, and we welcome him to the staff."
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