re: UL-Lafayette athletics have cost taxpayers nearly $50 million over the past 3 years

This needs the be made into an actual article and it needs to be posted/shared everywhere.

Bump

Great work. Send it to all the BR news station reporters.

This is the problem with politicians. He goes on an absolute tirade over a technicality in a contract. In no way shape or form was taxpayer money going to be used for BK's buyout.

Meanwhile ULL actually uses that tax payer money he went on a national media run talking about, that's perfectly fine.

He's twisting and turning shite for a clear agenda. And the worst part was that he didn't even have to pull this crap. Kelly was fired. Get a new president hired, then replace the AD. This entire show he put on was ridiculous and unneeded.

Great work, email this to every journalist you can.

This already is a story: LINK

quote:

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This is the problem with politicians. He goes on an absolute tirade over a technicality in a contract. In no way shape or form was taxpayer money going to be used for BK's buyout. Meanwhile ULL actually uses that tax payer money he went on a national media run talking about, that's perfectly fine.

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Yep. Some additional information (also added to OP):

The LSU athletic department is entirely self-funded and has received a total of $0 in direct or indirect institutional support (“state money”) since at least 2004. It’s possible that the athletic department has been self-funded for much longer than that, but the school’s NCAA financial reports are only available from 2004-present.

From FY2011 to present, the LSU athletic department has actually contributed an average of $6.1 million per year back to the university’s academic side. Again, the trend may go back further but the NCAA reporting format started requiring this information in 2011. Someone with better sleuthing skills might be able to go back further.

This LSU Sports article by Michael Bonnette in 2010 notes that LSU and Nebraska were the only two athletic departments in the entire country to receive no state subsidies.

While technically the state (via the BOS) has to guarantee every contract the athletic department enters into, the state is not on the hook “if boosters decide not to pay.” The state is only on the hook if the athletic department becomes insolvent and can’t pay their bills.

This is not a flaw in Brian Kelly’s contract; it’s a consequence of the athletic department being part of Louisiana State University. This applies to every contract the athletic department executes. It also applies to all of the athletic department’s other liabilities, such as bonds taken out for projects. If the state and BOS don’t want to be on the hook for athletic contracts, they could always roll the entire athletic department into TAF and relinquish control. Spoiler: they won’t. Because unlike every other university in Louisiana, LSU’s athletic department pays their own bills and is a net revenue generator for the university.

Brian Kelly’s buyout, if not negotiated to a reduced lump sum, will cost LSU ~$8.9 million per year through 2031. Meanwhile LSU football generated $108 million in revenue with $55 million in expenses last year. That’s a $53 million/year surplus for the football program. LSU football’s surplus is so large it could fund ULL’s entire athletic department.

Bumping this gem since we’re concerned with taxpayers money.

I could be wrong but didn't ULL just do major renovations to the stadium and facilities? I would assume that may be where a lot of that spend is going.

Sad. Absolutely sad.

Landry has no idea