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re: The Big Ten’s revenue distributions will top $52 million per school next year
Posted on 6/23/18 at 2:48 pm to TigerintheNO
Posted on 6/23/18 at 2:48 pm to TigerintheNO
quote:
While the report shows Texas A&M with about $147 million in operating expenses for 2017 — an apparent annual surplus of more than $65 million — it also shows the school with just under $67 million in athletics-related capital expenditures during the year. When schools borrow money to build or refurbish athletics facilities, the NCAA currently requires them to count annual debt service payments — the amount of principal and interest they repay in a given year — as an operational expense. Cash spending on facilities is supposed to be counted, and reported, separately from annual operating expenses.
As a result, contributions to Texas A&M’s athletics program that were made in 2017 and spent on facilities projects that year are being reported as operating revenue while most of the corresponding spending on those projects is not being reported as an annual operating expense.
Texas A&M athletics department’s chief financial officer, Jeff Toole, told USA TODAY Sports that when the facilities-related contributions are removed from consideration for 2017, “we are basically break-even, maybe a little less than break-even, for the year.”
Anybody remember Aggies bragging about their huge profits? LOL.
They were really $2 million in the red in 2017. And they still haven't repaid a multimillion dollar loan from the academic side. The academicians are pissed that they are blowing every penny while stiffing their creditors.
Hence, they will soon move to the Big 10 to continue leeching off others.
This post was edited on 6/23/18 at 2:55 pm
Posted on 6/25/18 at 8:13 am to Smart Post
quote:
And they still haven't repaid a multimillion dollar loan from the academic side. The academicians are pissed
I would love to see an actual source to back up this claim.
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