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Started By
Message
Quick question did LSU's insurance cover McNeese lost $3.5 mllion ?
Posted on 6/2/16 at 9:18 am
Posted on 6/2/16 at 9:18 am
Week after McNeese debacle (IMHO it was) Joe A said something about we “might” have insurance but I never saw anything after that. Basically LSU refunded the ticket price thus “losing” about $3.5 million. Be nice if we (the powers that be should know like AD etc) understood what our insurance covers or not because that is a good bit of $. UF had very similar event versus Idaho St a few years ago and their AD reported week after they got 100% back. Thanks
This post was edited on 6/2/16 at 11:39 am
Posted on 6/2/16 at 9:23 am to secfballfan
quote:
Be nice if we (the powers that be) understood what our insurance covers or not because that is a good bit of $
Why do "we" need to know?
if i know anything about our athletic administration... they don't do anything with money that isn't profitable in the end.
Posted on 6/2/16 at 9:29 am to Mr.Perfect
Why do "we" need to know?
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...
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...
Posted on 6/2/16 at 9:30 am to secfballfan
This is such a textbook Rant question/thread.
Posted on 6/2/16 at 9:35 am to secfballfan
Definitely not a quick question
Posted on 6/2/16 at 9:38 am to secfballfan
Season ticket holders were refunded the price of their ticket. If you bought your ticket from a season ticket holder or a random vender you did not
Posted on 6/2/16 at 9:56 am to Dr. Shultz
If there was insurance in place I am sure it was similar to "business interruption" insurance.
Posted on 6/2/16 at 10:03 am to secfballfan
quote:
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...
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.
Posted on 6/2/16 at 10:06 am to TigerMond84
I think the guy was/is referring to the amount of money he donates and pays for tickets. I could be wrong but that's the way I read it.
Posted on 6/2/16 at 10:09 am to Magicmikeforlsu
I think the guy was/is referring to the amount of money he donates and pays for tickets. I could be wrong but that's the way I read it.
thanks, I fully realize TAF is a foundation and under different rules than a public University..Jeeest, not trying to start a big thing, just hoped someone would know, and was not aware this was a "text book rant" but hey my mom always told me I was not special...
thanks, I fully realize TAF is a foundation and under different rules than a public University..Jeeest, not trying to start a big thing, just hoped someone would know, and was not aware this was a "text book rant" but hey my mom always told me I was not special...
Posted on 6/2/16 at 10:16 am to secfballfan
Sorry, a misinterpretation by me. Just tired of people confusing public and private money. To your point though, whether that info is available to the public (the insurance policy) might depend on who purchased the insurance, was it TAF? I'd still think TAF would be at least a quasi public entity and that info would be available. If its considered totally private then nerp.
Posted on 6/2/16 at 10:35 am to secfballfan
quote:
Why do "we" need to know? 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...
Powers that be? Someone thinks highly of himself.
$138,642,237- LSU Athletic Revenue 2015 per USA Today
2015 Football Season Tickets = $425 before TAF and Tradition Fund
That comes out to roughly .0003% of the revenue.
Assuming you got your $35 refund, that means you paid $390 for your tickets which brings your total contribution to .00028%.
So you are not a "power" nor do you spend "lots of money" in the grand scheme of things.
This post was edited on 6/2/16 at 10:40 am
Posted on 6/2/16 at 11:13 am to secfballfan
I covered the $3.5 million
Was the least I could do for all the joy that LSU sports has brought me in the past
You are welcome
Was the least I could do for all the joy that LSU sports has brought me in the past
You are welcome
Posted on 6/2/16 at 11:27 am to SaturdayTraditions
Can you answer the OP's question or you just chimed in with the bullshite?
Posted on 6/2/16 at 11:31 am to windmill
quote:
Can you answer the OP's question or you just chimed in with the bullshite?
I just chimed in, because it doesn't matter what they did. Now do you feel like one of the "powers that be" as well? Or did you just chime in with your bullshite?
Posted on 6/2/16 at 11:36 am to SaturdayTraditions
quote:
2015 Football Season Tickets = $425 before TAF and Tradition Fund
Problem is the price varies in diff parts of the stadium. And if they are his, not bought from another season ticket holder, he had to donate to even get them. He's paying around $200 per ticket, so he lost $165 on that game. Another note, he could have 1 ticket or he could have 8.
So basically you have no idea how much this dude gives and you need to step down off that high horse.
This post was edited on 6/2/16 at 11:44 am
Posted on 6/2/16 at 11:37 am to SaturdayTraditions
Can you answer the OP's question or you just chimed in with the bullshitee?
I just chimed in, because it doesn't matter what they did. Now do you feel like one of the "powers that be" as well? Or did you just chime in with your bullshitee?
Firs of all I never said "I" was a power, can you read? Secondly if you do not think $3.5 million is important fine, that's your opinion and I respect it, I feel differently. As to you math decent point, except I give a good bit more to LSU than cost of tickets, but even if I gave .01 I would want to know...Public university of state I live in, I pay taxes etc.
Look the whole thing is not that big a deal, did we have insurance or not...it's not a "fire Joe" if we did not IMHO, but again IMHO we should have people in the senior level who at least "understand" what our policy covers..the week after the game Joe did not, the UF AD did...
I just chimed in, because it doesn't matter what they did. Now do you feel like one of the "powers that be" as well? Or did you just chime in with your bullshitee?
Firs of all I never said "I" was a power, can you read? Secondly if you do not think $3.5 million is important fine, that's your opinion and I respect it, I feel differently. As to you math decent point, except I give a good bit more to LSU than cost of tickets, but even if I gave .01 I would want to know...Public university of state I live in, I pay taxes etc.
Look the whole thing is not that big a deal, did we have insurance or not...it's not a "fire Joe" if we did not IMHO, but again IMHO we should have people in the senior level who at least "understand" what our policy covers..the week after the game Joe did not, the UF AD did...
Posted on 6/2/16 at 11:48 am to SaturdayTraditions
quote:
So you are not a "power" nor do you spend "lots of money" in the grand scheme of things.
I interpreted that as he thought Joe should know things like this
Posted on 6/2/16 at 11:52 am to secfballfan
quote:
Firs of all I never said "I" was a power, can you read?
quote:
Be nice if we (the powers that be should know like AD etc)
WE = you and someone else
quote:
Secondly if you do not think $3.5 million is important fine, that's your opinion and I respect it, I feel differently
I think it is important, in the same way I think my personal bills are important, but not something that you should worry about, or are entitled to question.
quote:
Public university of state I live in, I pay taxes etc
Athletic department is separate from the University, therefore your taxes don't mean squat!
This post was edited on 6/2/16 at 11:53 am
Posted on 6/2/16 at 11:54 am to 777Tiger
quote:
I interpreted that as he thought Joe should know things like this
I'd be surprised if Joe didn't know.
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