I loved the school. I'm from West Texas originally and didn't think that highly of Lubbock. However, the school and the students made my experience there great.
As for the program, I know nothing about it. I am not a big believer in Sports Management programs period. It seems like networking/connections are the most important thing when trying to land a sports mgt job. Perhaps the program will help you with that (or perhaps you already have connections). That, I can't answer.
Texas Tech is great. Nice people, good school, fun times, awesome experience. Lubbock isnt great but its better than outsiders make it out to be. Texas Tech pretty much makes Lubbock...and it gets a little better every year.