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Message
re: LSU Athletic Dept bleeding $
Posted on 1/30/24 at 10:07 am to geauxengineering
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.
3
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 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 9:58 pm to ShadowTigerTX
quote:
What "non-program specific” staff are getting $5M in severance payments? That's *NOT* coaches.
I was thinking it was due to Ed not being paid the buyout from his coaching contract but being paid based on the contract he signed with the accelerated pay out terms which included the requirement of keeping his mouth shut.
But that’s just an opinion.
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