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Started By
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Michigan athletics is poor
Posted on 3/1/17 at 4:26 pm
Posted on 3/1/17 at 4:26 pm
frick Michigan!
8
Posted on 3/1/17 at 4:29 pm to PanhandleDawg
How the hell does a P5 school go into debt with its athletic dpt?
Posted on 3/1/17 at 4:33 pm to PanhandleDawg
And they're paying for a big trip to Europe for the football team. Smart.
Posted on 3/1/17 at 4:34 pm to Woopigsooie20
I saw this on Reddit the other day. UM fans broke down all the debt and eventual surplus in detail. There's a lot more to this. I'll see if I can find the thread.
Posted on 3/1/17 at 4:36 pm to Woopigsooie20
quote:isnt that being completely footed by a booster?
And they're paying for a big trip to Europe for the football team. Smart.
Posted on 3/1/17 at 4:36 pm to PanhandleDawg
As espn noted yesterday, this is misleading. Michigan financed its massive stadium renovations and is paying it back over ten years.
Debt is not a bad thing when you have just financed something and have a clear plan to pay it back.
If you want to look at a real mess, look at cal. 440 million in debt and only brings in 90 million annually
Debt is not a bad thing when you have just financed something and have a clear plan to pay it back.
If you want to look at a real mess, look at cal. 440 million in debt and only brings in 90 million annually
Posted on 3/1/17 at 4:37 pm to HailHailtoMichigan!
Exactly, this is a dumb thread.
Posted on 3/1/17 at 4:38 pm to TigersHuskers
quote:im pretty sure this isnt a big deal and UM has a legit plan to pay back all of this debt.
How the hell does a P5 school go into debt with its athletic dpt?
but to answer your question, you make really foolish decisions within your athletic department that you arent prepared to pay for. like cal, whose athletic department is so fricked its not even funny
Posted on 3/1/17 at 4:39 pm to HailHailtoMichigan!
yep
Posted on 3/1/17 at 4:39 pm to HailHailtoMichigan!
quote:
As espn noted yesterday, this is misleading. Michigan financed its massive stadium renovations and is paying it back over ten years.
Debt is not a bad thing when you have just financed something and have a clear plan to pay it back.
If you want to look at a real mess, look at cal. 440 million in debt and only brings in 90 million annually
Yeah this is extremely misleading. I would venture a guess that by this standard most schools would be "in debt." The only problem would be if their annual revenue was insufficient to pay off their monthly/yearly payments on that debt.
Posted on 3/1/17 at 4:39 pm to TigersHuskers
quote:
How the hell does a P5 school go into debt with its athletic dpt?
This is a few years old but:
"Only 24 FBS schools generated more revenue than they spent in 2014, according to the NCAA Revenues and Expenses of Division I Intercollegiate Athletics Programs Report. That figure jumped from 20 schools in 2013, but it has remained relatively consistent through the past decade."
Most schools lose money due to all the minor sports
This post was edited on 3/1/17 at 4:40 pm
Posted on 3/1/17 at 4:40 pm to WestCoastAg
quote:
Michigan's fiscal 2016-17 athletic department budget of $161 million includes a $15 million debt payment for eight projects, including $9.2 million for the 2011 Michigan Stadium renovation, according to UM Athletic Director Warde Manuel's June 2016 operating budget report to the university's board of regents. The budget predicts an $800,000 surplus while factoring in a 4 percent annual increase in costs.
Posted on 3/1/17 at 4:41 pm to PanhandleDawg
Some people don't have a clear understanding of debt. Paying for 35k car and 250k house doesn't mean you're broke when you make 100k per year
Posted on 3/1/17 at 4:47 pm to BearsFan
quote:
minor sports
So women's sports.
Posted on 3/1/17 at 4:47 pm to TigersHuskers
And all men's sports minus basketball and football
Posted on 3/1/17 at 4:54 pm to TigersHuskers
That LSU article was very telling last week.
Last year LSU made money off of football, basketball, and baseball. Everything else they lost money on last year.
I doubt very many places at all make money off of baseball
Last year LSU made money off of football, basketball, and baseball. Everything else they lost money on last year.
I doubt very many places at all make money off of baseball
Posted on 3/1/17 at 4:57 pm to BearsFan
quote:
Last year LSU made money off of football, basketball, and baseball.
I'm genuinely surprised they made money on basketball.
Posted on 3/1/17 at 5:02 pm to slackster
I wouldn't be surprised if most p5 programs do. I was kinda surprised when a&m announced we were like 800k in debt in basketball but had like over a 1 million dollar surplus in baseball
Posted on 3/1/17 at 5:06 pm to PanhandleDawg
Maybe they should hire Alleva. At least his department is in the black
Posted on 3/1/17 at 5:08 pm to BCMCubs
Michigan probably has a lot more varsity sports than LSU (just a guess, haven't researched that)
Edit: 27 vs 21 (if you trust wikipedia)
Edit: 27 vs 21 (if you trust wikipedia)
This post was edited on 3/1/17 at 5:10 pm
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