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re: The Big Ten’s revenue distributions will top $52 million per school next year
Posted on 6/25/18 at 8:13 am to Smart Post
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.
Posted on 6/25/18 at 11:29 am to cardboardboxer
From 2016:
So you still owe nearly $10 million and to my knowledge, your AD is not making increased remittances to the academic side (as requested, because they are pissed).
LINK
quote:
The A&M athletics program’s revenue level, even without the anomalous donation total, has created an unusual financial situation that university officials are beginning to address. Since 2006, for a variety of reasons that included the Aggies’ transition from the Big 12 Conference to the Southeastern Conference in 2012, the university had loaned roughly $16.4 million to the athletics department — and according to Toole, the outstanding balance remains about $12.5 million.
Now, while continuing to let the athletics department repay the loan at a rate of about $1.6 million a year, Toole said university officials have told the athletics department that it will be expected to begin sending additional money back to the school’s general fund. “They’ve let us know that is going to occur at some level (during the 2015-16 fiscal year) and at a higher level going forward,” Toole said. “And we think that’s appropriate.”
So you still owe nearly $10 million and to my knowledge, your AD is not making increased remittances to the academic side (as requested, because they are pissed).
LINK
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