Despite Villanova’s loss to Kansas on Saturday, the Final Four has been good for the university, writes Ryan Mulligan for the Philadelphia Business Journal.

Saturday was Villanova’s third Final Four appearance in the last six NCAA tournaments. It won national championships in 2016 and 2018.

The financial and promotional fallout from these multiple appearances has helped the university pay for capital projects, and it has boosted student enrollment.

It’s estimated that just the media exposure from the 2016 championship was valued in excess of $1 billion, said Villanova Provost Patrick Maggitti.

That year’s success also helped raise $65 million to renovate the basketball team’s home arena, Finneran Pavilion.

“In as much as fundraising is about engaging your alums and having them believe in what you’re doing, (Final Four appearances are) helpful in terms of getting them excited and getting them connected to the university,” Maggitti said.

The 2016 win also generated $2 million in merchandise sales from the university’s bookstore.

The most visible benefit of the 2016 championship was the 23 percent jump in enrollment, and there’s been a 10 percent increase each year since, Maggitti said.

Read more about Villanova in the Philadelphia Business Journal.