re: Quick question did LSU's insurance cover McNeese lost $3.5 mllion ?

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because we (or at least me) pays lots of money to a public university that is in charge of taking care of this money and reporting where they invest etc. They are "stewards" not owners...

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This statement is an excellent example of why LSU did not get a new coach and did not build a new nutrition center. There is a difference between the private money raised and/or donated to LSU football, and public money raised by state taxes which goes toward the actual university, i.e. your classrooms, professors, etc. The university is not paying for the football operations, insurance very likely included. That comes from the ridiculous net profit the football program generates year in, year out, which operates separately from the campus itself, financially speaking. Get it out of your head that your taxes pay for the coach's salary. It doesn't. To the original poster, It's possible football has a business loss insurance policy for that situation but who knows.