Very interesting read........

Rutgers Athletics, $265M in debt

appst89 wrote: ↑

Wed Sep 08, 2021 8:34 am

Very interesting read........

Rutgers Athletics, $265M in debt

Looks to me that we did not need Ok. and Tx. to jump ship to the SEC. Seems as if realignment will come naturally thru the financial inability of schools to “Keep up”.

That was an interesting read indeed. I really wonder how many of the P5 programs that do not consistently win are in a similar boat, my guess is that is is most of them.

scary

But hey, NYC market!

I was about to ask "How did they get that deep into a hole" and then I read the article. They loaned money from Peter (university) to pay Paul (athletic dept). This would be much like, I go out and get NEW credit cards to get cash advance to pay my home mortgage (or our federal spending). This is not a sustainable model (says so in article). It is a short term bridge that eventually falls apart.

I did not have time to read entire article but did they ever come up with a "feasible" long term plan or are they just kicking the can (which is most likely)?

Know your brand, know your customer base and don't go beyond what your that foundation can support.

We have been incredibly lucky with on the field success and a patient and understanding fan base. I'd love to see us be in a bigger better conference but until we actually can fit the bill the Sunbelt is exactly where we need to be.

Money drives everything and I'd love to see the Yosef Club and athletic department really make an effort to ask for more money from fans on social media...donate the score of each game and make the portal to do so quick, easy and enjoyable.

AtlAppMan wrote: ↑

Wed Sep 08, 2021 10:05 am

I was about to ask "How did they get that deep into a hole" and then I read the article. They loaned money from Peter (university) to pay Paul (athletic dept). This would be much like, I go out and get NEW credit cards to get cash advance to pay my home mortgage (or our federal spending). This is not a sustainable model (says so in article). It is a short term bridge that eventually falls apart.

I did not have time to read entire article but did they ever come up with a "feasible" long term plan or are they just kicking the can (which is most likely)?

In short they are just kicking the can. They seem to be hopeful that the next Big 10 tv deal will allow them to become flush but never give any exact amounts. They are also hopeful that football will start winning and therefore bring in money. The craziest thing to me is that the administrators admit that it is unsustainable but then they say they are not sure what the sustainable level is. I mean eventually you have to stop trying to keep up with the Jones and live within your means.

I haven't had a chance to click on the article yet, but if you haven't seen the details of the insane contract they gave Schiano when they hired him, you should breeze over it. Don't quote me, but I think I remember free use of a private jet was in there somewhere... On top of absolutely ridiculous salary, bonuses, etc. Being a traditional bottom feeding program (even in the B10), they should know better. They asked for this situation with special sauce! A good general rule is that you don't try to borrow your way out of debt (it usually doesn't work anyway) before trying to live within your means.