Two weeks ago, we posed the first two questions.  First, how does the BCS system work, and will there ever be a playoff?  Second, do the 32 bowls lead to over-saturation, or is there an appropriate business niche for all of them? 

Last week, we addressed four business questions that drive college football economics.  How will bowl economics impact Division I schools?  Which schools are the biggest economic winners/losers this season?  Can schools remain creative in generating additional revenue?  Will college head coaches continue to earn substantial economic bonanzas? 

Here are this week's core issues for the $5 billion NCAA business.

The Tostitos BCS National Championship game on January 8 in Glendale culminates the longest and biggest bowl season in history - 32 games over 16 days, with an economic impact of nearly $10 billion to the host regions. These bowls pay out about $210 million to NCAA schools, up from $101 million a decade ago (for 14 fewer bowl games).  Twenty-six of the games have a title sponsor, with each corporation paying upwards of $10 million annually for the BCS games, and as little as $400,000 for the others. 

The feasibility of a playoff system has been obsessively debated since Thanksgiving (with no prospect of such a playoff in Division I at least for five years - Division III recently completed a five-game playoff season after a 10-game regular schedule). 

The biggest winner in all of this is the state of Arizona.  The new $457.5 million stadium in Glendale serves as the catalyst for a two-year economic impact of nearly $1 billion - with the Tostitos Fiesta Bowl, this year's BCS National Championship, and next year's Super Bowl XLII leading the way.  University of Phoenix wins as well - a 20-year, $154 million naming deal generates breakthrough publicity for one of the largest private universities in the world. 

The biggest competition may be off the field.  The 2002 signed agreements between the Arizona Cardinals and the public sector allows bowl game organizers to "cover up permanent signs" that might compete with Tostitos or other sponsors.  The NFL team, stadium owner, naming partner, and bowl committee are grappling with what signs to keep vs. temporarily replace.  There is precedent - in 2001, the National Hockey League (and its sponsor Coca-Cola) brought the All-Star Game to Denver's Pepsi Center - and avoided all reference to Pepsi in marketing campaigns.