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This post was edited by 1st_and_NOLE 15 months ago
I saw this made me laugh unfortunately.
How much further in debt will they fall trying to grab at old glory.
Story is a little bit sensational but yeah if they don't start winning soon they will have major issues.
I don't see the sensationalism? [shrugs]
Looks mostly like reporting of financial figures and documented attendance problems.
and this does not even take into account the pay to play policy they use to get recruits. LOL
I believe Auburn reported budget deficits too. It wouldn't shock me if a similar report came out for them. I said it before, I don't think the SEC can continue to spend like it has been and fire coaches like they have been for too much longer until their bubble pops.
This post was edited by fsukum 15 months ago
Dave Hart, y'all.
I wonder what FSU debt is? It's got to be up there I'm sure we are still paying off the Doak expansion from the 90's. We are getting ready to add another 30 million or so with the IPF and the dorms. Who knows how much college town is costing. FSU could easily have over 100 million in debt.
We're also spending $32 million on renovations to Doak and the TLCCC. We've also gone over budget by $11 million over the last 3 years, I believe.
However, I think FSU has used bonds, been given gifts and sold real estate for a majority of these projects.
As of a year ago, both Alabama and LSU had more than $200 million in debt, and in the 2010-11 year, Tennessee was 5th in the SEC in terms of the amount they spent per year on debt service.
The Sports Business Journal article felt like a PR effort by Dave Hart. In fairness, the debt run up by Tennessee isn't his fault - it was run up before he got there. But the article felt, in part, like his way of advertising the fact that there are financial issues to perhaps get rid of some of the criticism he has been facing. The article also felt partly a way of launching a PR effort to justify some givebacks. It looks like they're shooting to get Knoxville to drop a ticket tax that adds up to a couple of million per year. I thought it was pretty amusing that they're complaining about a ticket tax (that probably doesn't even fully pay for the local services expended during games) that is less than half of what they paid to Derek Dooley in a buyout this year. It looks like they've already succeeded in convincing the school to let the athletics department stop making payments to the university that they had been required to make. In other words, if this story ends up helping Tennessee shed a bunch of payment obligations they'd normally have to make, they'll probably be richer than ever.
The financial health of University of Tennessee athletics looks grim on paper: $200 million in debt. A 2012 season that saw the worst football attenda
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