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re: Texas Athletic Department in debt?
Posted on 9/15/11 at 1:45 pm to ShrevetownTiger
Posted on 9/15/11 at 1:45 pm to ShrevetownTiger
This is the 2nd time I've seen this today, and it
's just as GD stupid as the first time.
EVERY school finances their big projects (like practice facilities, stadium expansions) with long-term debt. Profits over operating expenses + alumni donations to athletic funds pay these bonds off over time (at low interest rates).
The infamous A&M loan was from the university to athletic dept. because they foresaw that wouldn't have cash on hand to cover expenses and obligations on the horizon.
I still don't think the A&M loan was a big deal, but it looked bad when juxtaposed with relentless tuition hikes and talks of faculty having to justify their positions (google Jeff Sandefer and Texas Public Policy Foundation). But to equate the 2 is just dumb.
's just as GD stupid as the first time.
EVERY school finances their big projects (like practice facilities, stadium expansions) with long-term debt. Profits over operating expenses + alumni donations to athletic funds pay these bonds off over time (at low interest rates).
The infamous A&M loan was from the university to athletic dept. because they foresaw that wouldn't have cash on hand to cover expenses and obligations on the horizon.
I still don't think the A&M loan was a big deal, but it looked bad when juxtaposed with relentless tuition hikes and talks of faculty having to justify their positions (google Jeff Sandefer and Texas Public Policy Foundation). But to equate the 2 is just dumb.
2
Posted on 9/15/11 at 2:21 pm to Olive
TCU says you are wrong.
Posted on 9/15/11 at 3:35 pm to Olive
quote:
EVERY school finances their big projects (like practice facilities, stadium expansions) with long-term debt. Profits over operating expenses + alumni donations to athletic funds pay these bonds off over time (at low interest rates).
as simple as that and true of all public institutions. "pay as you go", ie, no debt at all ceased about 100 years ago. to me $200 mil. in debt for a program that derives about $100 mil in revenues every year is really not bad at all. the dept. is still making handsome profits.
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