- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: LSU Athletic Dept bleeding $
Posted on 1/30/24 at 10:42 am to WDAIII
Posted on 1/30/24 at 10:42 am to WDAIII
It’s not my money but …
Can someone explain how this makes good business sense? We’re paying Mulkey more than the total revenue women’s basketball generates.
I know someone will come back with “it’s good for the brand” but if you think football commits are coming to LSU because of women’s basketball… well that just isn’t the case.
quote:
The program collected just under $2.5 million in revenues for the year but the team’s expenses were closer to $10.3 million. The program’s costliest line item is for coaches salaries, with the school paying $4.4 million in coaches salaries and bonuses last year-nearly double what the program collected in revenue.
Can someone explain how this makes good business sense? We’re paying Mulkey more than the total revenue women’s basketball generates.
I know someone will come back with “it’s good for the brand” but if you think football commits are coming to LSU because of women’s basketball… well that just isn’t the case.
1
Posted on 1/30/24 at 10:43 am to WDAIII
Get ______, go _______.
Posted on 1/30/24 at 10:43 am to WDAIII
I may have missed it, but that article has nothing on expenses. Plus number is inflated due to building projects
Posted on 1/30/24 at 10:48 am to GeorgeTheGreek
quote:
Can someone explain how this makes good business sense? We’re paying Mulkey more than the total revenue women’s basketball generates.
Because Mulkey’s salary is paid by big money donors who aren’t expecting to see a return on their investment. All coaches salaries are paid by donors who know what they are getting themselves into.
Posted on 1/30/24 at 10:49 am to mgdtiger
quote:
I may have missed it, but that article has nothing on expenses. Plus number is inflated due to building projects
Read the actual audit. It’s linked in the article.
Posted on 1/30/24 at 10:51 am to LSUGent
quote:
News flash: Every school’s athletic department “bleeds money”. The difference is that LSU football is popular it will still generate revenue while most schools even lose money on their football programs.
Not every school. There are 12 universities that got no money from the university and still made a profit in this list from June 2023.
LSU was one of them last year. Not sure about this year.
Check out the NCAA reports:
NCAA Finances
Posted on 1/30/24 at 10:55 am to WDAIII
quote:
Somebody needs to step in and straighten this out
(was going to use a solo Gordon picture, but seeing this one come up in the search given recent events was just too funny to pass up.)
Posted on 1/30/24 at 10:56 am to WDAIII
They “create” this narrative so they can keep going up on prices. They always say they are losing money. Except for maybe football.
Posted on 1/30/24 at 11:13 am to WDAIII
Trump will fix it.
Posted on 1/30/24 at 11:16 am to SOL2
Posted on 1/30/24 at 11:38 am to WDAIII
If only we had an SEC championship caliber mens basketball team led by Will Wade to turn a profit in the only other profitable sport besides Football
Posted on 1/30/24 at 11:39 am to la_birdman
You can thank the good ole Title IX for this crap. Have to have a women's underwater basketweaving team because we want a few good men's teams.
Posted on 1/30/24 at 1:38 pm to LSBoosie
quote:
Read the actual audit that is linked in the article. These are addressed in the notes at the bottom.
Actual answers to the questions posed:
quote:
* How does this compare to previous years?
Not really addressed in the audit report. There is a comparison of major revenues and expenditures for FY22 vs. FY23 but this only shows a small piece of the overall budget. It would take more digging to determine how the actual revenue excess/deficiency compares to prior years.
After some quick googling, it appears that the athletic department had a $9.6M deficit in FY21 and a $6.5M surplus in FY22.
quote:
* Is this a one year thing or would we have been profitable without the severance payments?
We would have had over $1M in excess revenue if not for severance payments. That said, it’s unclear from the audit report where these severance payments are going or how long they will be in effect.
quote:
* What "non-program specific” staff are getting $5M in severance payments? That's *NOT* coaches. The TAF (and others) pay coaches' payouts when they're fired, not the athletic department.
Also not addressed in the audit.
quote:
Does this take into account the funding by TAF? Don't they cover much of the coaching salaries?
As I understand it, the $3.9M shortfall only includes TAF disbursements to the athletic department - not TAF’s direct revenues and expenditures.
Two other things worth noting about the financials:
1. The $3.9M shortfall includes $5.2M in transfers from the athletic department to the university. The athletic department had a ~$1.3M surplus outside of that.
2. Ive pointed this out before, but it’s worth repeating: LSU will receive an additional $17.5M each year under the new ESPN football contract that starts this year.
Posted on 1/30/24 at 2:10 pm to TIGERSby10
quote:
You can thank the good ole Title IX for this crap. Have to have a women's underwater basketweaving team because we want a few good men's teams.
Title IX creates these problems because you have 85 scholarships in football. Take out football from the NCAA/Title IX's scope and these problems don't exist.
Posted on 1/30/24 at 2:56 pm to BilbeauTBaggins
How about things like more publicty ,increased enrollment
more contributions from alumni and supporters because of
the Championship.It all adds up.People really aught to
think B4 they post ignorantly.
more contributions from alumni and supporters because of
the Championship.It all adds up.People really aught to
think B4 they post ignorantly.
Posted on 1/30/24 at 3:02 pm to ShadowTigerTX
quote:only saw that 2021 was a deficit, and 2022 was a surplus. For a long time LSU was one of the few athletic programs in the country that actually turned a profit in their athletics.
* How does this compare to previous years?
quote:we would have been up by a mill if not for those.
* Is this a one year thing or would we have been profitable without the severance payments?
quote:Yeah, I don't understand this part either. I always thought the donors paid this out. Do they give the money to the athletic department to pay out the departures?
* What "non-program specific” staff are getting $5M in severance payments? That's *NOT* coaches. The TAF (and others) pay coaches' payouts when they're fired, not the athletic department
Anyway, we are under a new deal with ESPN, so we'll be profiting every year for the foreseeable future.
Posted on 1/30/24 at 3:13 pm to CRW
quote:
more publicty
Costs money
quote:
increased enrollment
Tuition is massively overinflated already. You can only enroll somany students
quote:
more contributions from alumni and supporters
LSU shells out from alumni/donors repeatedly
Posted on 1/30/24 at 3:18 pm to WDAIII
Posted on 1/30/24 at 4:33 pm to lostinbr
I mean you can't just pinpoint specific things that you want to know (some that aren't even available) and claim that it's shitty reporting.
It's not addressed because I don't know that it's public knowledge. Or at least it's not in the financial report.
This would likely be in the financial report for TAF, not the LSU athletic department.
quote:
* What "non-program specific” staff are getting $5M in severance payments? That's *NOT* coaches. The TAF (and others) pay coaches' payouts when they're fired, not the athletic department.
It's not addressed because I don't know that it's public knowledge. Or at least it's not in the financial report.
quote:
As I understand it, the $3.9M shortfall only includes TAF disbursements to the athletic department - not TAF’s direct revenues and expenditures.
This would likely be in the financial report for TAF, not the LSU athletic department.
Posted on 1/30/24 at 6:44 pm to WDAIII
Athletic Dept needs to stop giving millions to the liberal blow hard professors within the academic side.
Page 2 of 3
Back to top
Follow TigerDroppings for LSU Football News