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How long until Cal ends its athletic department?
Posted on 8/5/23 at 3:58 pm
Posted on 8/5/23 at 3:58 pm
They have already been teetering on the edge.
This is their stadium renovation debt alone
They are about to go belly up if they don't get a P4 invite.
This is their stadium renovation debt alone
quote:
Stadium debt already absorbs 20 percent of intercollegiate athletics' annual income, or roughly $18 million of its $89 million budget. And that pays only the interest.
Cal won't start paying down the principal until 2032, when its yearly payments rise to $26 million, then $37 million, before tapering off in 2051. After a brief respite, Cal will owe a lump sum of $82 million in 2053 alone. Then it will have six decades to pay off the final 17 percent, or $75 million.
They are about to go belly up if they don't get a P4 invite.
14
Posted on 8/5/23 at 3:59 pm to KosmoCramer
quote:
How long until Cal ends its athletic department?
After Berkeley FREEZEs over with Auburn 's 2nd week win.
Posted on 8/5/23 at 4:13 pm to KosmoCramer
I’ve been saying this is the perfect cover for them to drop sports, which they have wanted to do for years.
They aren’t going to be able to survive under so much water especially with a mountain west budget
They aren’t going to be able to survive under so much water especially with a mountain west budget
Posted on 8/5/23 at 4:17 pm to KosmoCramer
If Cal wants to deemphasize sports it drops down to Division III. It's not that difficult.
Posted on 8/5/23 at 4:18 pm to Ralph_Wiggum
quote:
If Cal wants to deemphasize sports it drops down to Division III. It's not that difficult.
And how exactly does that solve the massive debt issue?
Posted on 8/5/23 at 4:20 pm to KosmoCramer
I bet their DEI department and reparations task force is twice the budget of all athletics.
Posted on 8/5/23 at 4:21 pm to KosmoCramer
quote:
And how exactly does that solve the massive debt issue?
Depends on how much they siphon off of UCLA to pay it off.
Posted on 8/5/23 at 4:44 pm to Ralph_Wiggum
quote:
If Cal wants to deemphasize sports it drops down to Division III. It's not that difficult.
I think it’s a high probability that this ends with them in division 3
Posted on 8/5/23 at 5:18 pm to KosmoCramer
I'm guessing that 10 yr/$17.5M per naming rights with FTX announced Aug 2021 isn't gonna pan out like UCB had hoped -
This post was edited on 8/5/23 at 5:19 pm
Posted on 8/5/23 at 5:29 pm to KosmoCramer
It won’t. And it is such a shame that the big boys are squeezing out the little guys. I love college sports but I’m almost at the end of my rope…..
Posted on 8/5/23 at 5:32 pm to KosmoCramer
What a waste of a school that could have been so much better.
Posted on 8/5/23 at 5:47 pm to KosmoCramer
quote:
How long until Cal ends its athletic department?
They’ll drop down to something like the NAIA and the academic administration there will rejoice
Posted on 8/5/23 at 6:01 pm to TulaneFan
quote:
I’ve been saying this is the perfect cover for them to drop sports, which they have wanted to do for years.
They probably should. The university is giving the athletics dept $21 million a year in addition to paying the $8.8 million to service debt.
Posted on 8/5/23 at 6:07 pm to KosmoCramer
I'm honestly surprised their administration hasn't destroyed the athletics side yet. No way I'd want to be a coach and deal with the headaches of the political activism.
This post was edited on 8/5/23 at 6:08 pm
Posted on 8/5/23 at 7:59 pm to KosmoCramer
they renovated their stadium not too long ago, and the tree hugging, libtard students were chaining themselves to the trees that were going to be bulldozed.
they reap what they sow
they reap what they sow
Posted on 8/5/23 at 8:01 pm to Team Vote
Posted on 8/5/23 at 8:03 pm to Ralph_Wiggum
quote:
If Cal wants to deemphasize sports it drops down to Division III. It's not that difficult.
It was for Tulane back in the 2000s. IIRC the admins wanted to do that. It was called the Tulane model.
Posted on 8/5/23 at 8:32 pm to KosmoCramer
No scholarships so the athletes support the programs
Posted on 8/5/23 at 8:47 pm to KosmoCramer
quote:
Stadium debt already absorbs 20 percent of intercollegiate athletics' annual income, or roughly $18 million of its $89 million budget. And that pays only the interest.
Cal won't start paying down the principal until 2032, when its yearly payments rise to $26 million, then $37 million, before tapering off in 2051. After a brief respite, Cal will owe a lump sum of $82 million in 2053 alone. Then it will have six decades to pay off the final 17 percent, or $75 million.
So I’m guessing that a degree in Finance from Cal is basically trash?
Posted on 8/5/23 at 8:54 pm to KosmoCramer
quote:
And how exactly does that solve the massive debt issue?
No schollies
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