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Message
for al the "money grows on trees" crowd
Posted on 1/12/15 at 2:08 pm
Posted on 1/12/15 at 2:08 pm
the university of tejas just reported close to a $3million loss by their athletic department this past year.
all of this talk about them being the richest of the rich, etc, etc is turning out to be bull shite.
LSU's athletic dept. keeps plugging away as one of the top 5-10 biggest money makers in the country every year. and they give about 7 million to the university each year (which, sadly, they need).
tejas' main problem this year is the buy out of mack's contract and the buy out of strong's at Louisville. even w/o those buyouts it seems tejas has a problem managing money.
all of this talk about them being the richest of the rich, etc, etc is turning out to be bull shite.
LSU's athletic dept. keeps plugging away as one of the top 5-10 biggest money makers in the country every year. and they give about 7 million to the university each year (which, sadly, they need).
tejas' main problem this year is the buy out of mack's contract and the buy out of strong's at Louisville. even w/o those buyouts it seems tejas has a problem managing money.
6
Posted on 1/12/15 at 2:10 pm to LSU GrandDad
So if I have a billion dollars and this year I lost 3 million, I'm not rich anymore?
Posted on 1/12/15 at 2:11 pm to LSU GrandDad
quote:did Santa Anna recapture it?
tejas
Posted on 1/12/15 at 2:12 pm to LSU GrandDad
Posted on 1/12/15 at 2:12 pm to JJ27
quote:
So if I have a billion dollars and this year I lost 3 million, I'm not rich anymore?
are you saying their athletic dept has a billion dollars?
Posted on 1/12/15 at 2:14 pm to LSU GrandDad
Is your x button broken?
Posted on 1/12/15 at 2:14 pm to LSU GrandDad
quote:
are you saying their athletic dept has a billion dollars?
Well, if you provided a link to any of your statements I'm sure someone would find out for sure.
Posted on 1/12/15 at 2:18 pm to TK421
quote:
Well, if you provided a link to any of your statements I'm sure someone would find out for sure.
sorry. no link but it's in today's Houston Chronicle sports section. they are quoting about 161 million in revenues and 164 million in expenses. I really don't give a shite if you believe me or not. but it is what was reported by that paper.
Posted on 1/12/15 at 2:19 pm to LSU GrandDad
quote:
are you saying their athletic dept has a billion dollars?
No, but they are the most valuable AD.
Also,
quote:
Per the Statesman, this is the first time the Longhorn athletic department lost money since the 1999-2000 academic year. For the 2012-13 academic year, Texas’ athletic department reported at $9.7 million in the black.
This is a 1 year thing:
quote:
What made the difference between this cycle and the last? Texas’ overall ticket sales dropped 11.8 percent – largely due to a decrease in the number of concerts at the Frank Erwin Center – and the costs associated with Texas’ football coaching search also took a toll. This hunt included a $4.375 million charge to buy out Charlie Strong’s Louisville contract and a $2.75 million severance package for former head coach Mack Brown.
This post was edited on 1/12/15 at 2:20 pm
Posted on 1/12/15 at 2:19 pm to LSU GrandDad
Dammit, Grandpa....
Posted on 1/12/15 at 2:20 pm to LSU GrandDad
quote:
I really don't give a shite if you believe me or not
That's because you are old and have forfeited your dignity.
Posted on 1/12/15 at 2:25 pm to TK421
quote:
That's because you are old and have forfeited your dignity.
really?
I have forfeited nothing, esp my dignity. and I don't give a shite if anybody believes me; although another poster did provide quotes that proved me correct.
and you have no clue how old I am
the word granddad could apply to many different ages
Posted on 1/12/15 at 2:27 pm to LSU GrandDad
They are still number one in revenue and number one in expenses. In an arms race, that means you're winning if you keep playing it right.
They are still in a great situation.
They are still in a great situation.
Posted on 1/12/15 at 2:27 pm to LSU GrandDad
quote:
the university of tejas just reported close to a $3million loss by their athletic department this past year.
Having a balanced budget doesn't mean they aren't the richest of the rich. Its a non-profit, they don't need to "make" money.
This post was edited on 1/12/15 at 2:28 pm
Posted on 1/12/15 at 2:29 pm to LSU GrandDad
quote:
I really don't give a shite if you believe me or not. but it is what was reported by that paper.
hey old man river, settle down or i'll break your hip
Posted on 1/12/15 at 2:37 pm to redfieldk717
Ok, so basically they would have been $4.125 Million in the black had they not had the "1 year thing" for the buyouts......
......that's a 2.5% margin. All that would need to happen is for expenses to rise by 3% and they'd be in the red again. Do you guys not understand how unbelievably shitty this is???? With the Longhorn network included?
......that's a 2.5% margin. All that would need to happen is for expenses to rise by 3% and they'd be in the red again. Do you guys not understand how unbelievably shitty this is???? With the Longhorn network included?
Posted on 1/12/15 at 2:38 pm to redfieldk717
Posted on 1/12/15 at 2:40 pm to ironsides
quote:
......that's a 2.5% margin. All that would need to happen is for expenses to rise by 3% and they'd be in the red again. Do you guys not understand how unbelievably shitty this is???? With the Longhorn network included?
You're comparing it to a business. It isn't a business and isn't operated as one
Posted on 1/12/15 at 2:49 pm to TigerBait1127
quote:
You're comparing it to a business. It isn't a business and isn't operated as one
Right, but the general consensus of the thread is that Texas has all the money in the world. My point is they have very little cushion in expenses. If inflation averages 2.5% a year, and all they needed was 3% to be in the black without the one time events, they will lose money again in 2015 if they can't increase revenues. Need wins for that. Hard to come by in Austin.
Posted on 1/12/15 at 3:00 pm to ironsides
Yea, I get your point and it is valid.
Still, that university prints money I wonder how the drop in oil will impact them
Still, that university prints money I wonder how the drop in oil will impact them
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