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Started By
Message
LSU Athletic Dept bleeding $
Posted on 1/30/24 at 9:53 am
Posted on 1/30/24 at 9:53 am
20
Posted on 1/30/24 at 9:55 am to WDAIII
I wonder how many more times this is going to be posted.
Posted on 1/30/24 at 9:56 am to WDAIII
Why do you care? Is it coming out of your account?
Posted on 1/30/24 at 9:56 am to WDAIII
Well everyone did want to fire Mulkey last night so I guess that frees up some expenses
Posted on 1/30/24 at 9:57 am to WDAIII
quote:
Women’s basketball—which won its first National Women’s Championship in 2023—posted a nearly $7.8 million deficit for 2023.
Have to imagine this will get a bit better the season following the championship if we get back on track with winning.
Won't ever make money I don't think, but it'll get better. Has to help generate merchandise revenue, etc. as well that probably isn't allocated to individual sports.
Posted on 1/30/24 at 9:58 am to WDAIII
Only in Louisiana……
Posted on 1/30/24 at 10:00 am to WDAIII
quote:
Somebody needs to step in and straighten this out
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.
Posted on 1/30/24 at 10:03 am to WDAIII
when you paying off fired coaches from bad hiring decisions, that happens.
Posted on 1/30/24 at 10:04 am to WDAIII
Would we have to cut some sports to fix this?
Posted on 1/30/24 at 10:07 am to WDAIII
Don't they have a pretty massive war chest after years of million dollar profits?
Posted on 1/30/24 at 10:07 am to geauxengineering
Some questions to ask (that the person writing the article should have answered...pretty sloppy reporting, unless they *wanted* the article to imply things):
* How does this compare to previous years?
* Is this a one year thing or would we have been profitable without the severance payments?
* 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.
In terms of the non-football programs not making money, that's *always* been the case. Football has always subsidized at least most of the other sports.
* How does this compare to previous years?
* Is this a one year thing or would we have been profitable without the severance payments?
* 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.
In terms of the non-football programs not making money, that's *always* been the case. Football has always subsidized at least most of the other sports.
Posted on 1/30/24 at 10:08 am to LSUGent
Posted on 1/30/24 at 10:08 am to WDAIII
quote:
Somebody needs to step in and straighten this out
Or what?????
Posted on 1/30/24 at 10:08 am to LSUGent
quote:
News flash: Every school’s athletic department “bleeds money”.
Wrong
Posted on 1/30/24 at 10:08 am to geauxengineering
Yet you don’t want to hold the people that made those decisions accountable.
Posted on 1/30/24 at 10:26 am to WDAIII
Does this take into account the funding by TAF? Don't they cover much of the coaching salaries? All of the expenses may not be actually covered by the university's operating budget so there was no real deficit in that regard. We can still expect ranting from ex professor Robert Mann and his minions.
Posted on 1/30/24 at 10:29 am to ShadowTigerTX
quote:
* How does this compare to previous years? * Is this a one year thing or would we have been profitable without the severance payments? * 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.
Read the actual audit that is linked in the article. These are addressed in the notes at the bottom.
Posted on 1/30/24 at 10:30 am to tigersbb
quote:
Does this take into account the funding by TAF? Don't they cover much of the coaching salaries? All of the expenses may not be actually covered by the university's operating budget so there was no real deficit in that regard. We can still expect ranting from ex professor Robert Mann and his minions.
The actual audit is linked in the article. It answers your questions.
Posted on 1/30/24 at 10:36 am to WDAIII
Does anyone realize or take into account how much money is indirectly generated by LSU athletics. What the athletic department spends vs what it takes in doesn’t matter. They’ll write it off as an expense.
Consider the effects on admission, enrollment, text book , fees. Etc.
Consider how much revenue is generated in sales for tourism, hotel accommodation, restaurant and grocery stores, Merchandise etc etc etc. trust me the state is perfectly ok with being over budget considering how much lsu sports help drive the economy.
Consider the effects on admission, enrollment, text book , fees. Etc.
Consider how much revenue is generated in sales for tourism, hotel accommodation, restaurant and grocery stores, Merchandise etc etc etc. trust me the state is perfectly ok with being over budget considering how much lsu sports help drive the economy.
Posted on 1/30/24 at 10:42 am to WDAIII
Schools like Texas A&M and UT have such higher revenues in large part due to the donations that are made to the athletic department. That’s why when people say that LSU doesn’t have as much money as them, it’s true.
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