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Tennessee Athletic Department receives $18M from university
Posted on 11/20/12 at 2:59 pm
Posted on 11/20/12 at 2:59 pm
According to a release from the university. This will cover all the buyouts we owe, the coaching search funds will be handled privately.
"Monetary concerns should not and will not be a factor when it comes to finding the right man to restore our proud tradition."
Quote from the chancellor.
"Monetary concerns should not and will not be a factor when it comes to finding the right man to restore our proud tradition."
Quote from the chancellor.
16
Posted on 11/20/12 at 3:03 pm to volfan30
So your athletic department was broke and needed a loan from the University?
Tennessee = aTm
Tennessee = aTm
This post was edited on 11/20/12 at 3:04 pm
Posted on 11/20/12 at 3:03 pm to volfan30
:NotInBeforeA&MIsBrokeBigTwateverSpin:
Posted on 11/20/12 at 3:03 pm to volfan30
Its 18 mill over 3 years, correct?
This post was edited on 11/20/12 at 3:06 pm
Posted on 11/20/12 at 3:04 pm to volfan30
Posted on 11/20/12 at 3:05 pm to DaleDenton
It's not a loan, it's an investment.
Posted on 11/20/12 at 3:05 pm to volfan30
Dave Hart is going to hire Mike Dubose.
This post was edited on 11/20/12 at 3:05 pm
Posted on 11/20/12 at 3:06 pm to volfan30
I know that we dont owe 18M in buyouts, so any insight as to how that number was arrived at?
Posted on 11/20/12 at 3:06 pm to NBamaAlum
Comrade Goff isn't doing much. Hearing he may want in on the UGA coaching plant business
Posted on 11/20/12 at 3:07 pm to NBamaAlum
Jimmy Haslam remember that name! He just bought the Cleveland Browns for 1 Billion dollars US, his brother is the Governor and he is a huge UT booster. He could really pony up and UT needs him too!
Posted on 11/20/12 at 3:10 pm to Domination
quote:
I know that we dont owe 18M in buyouts, so any insight as to how that number was arrived at?
LINK
It probably came from something listed in that article. They've been working on this for a bit. And I don't think it should be read into. This stuff happens when you run deficits and eat into a reserve.
Posted on 11/20/12 at 3:10 pm to Domination
I thought you guys had Phil paid off next month. The only buyout you owed was to Dooley (and his staff?) - I'm kind of curious as to what 18 mil would be used for as well.
Posted on 11/20/12 at 3:11 pm to Notre Dame Fan
Wont be Jimmy. It would be his father, big Jim. Player and captain for Gen. Neyland's Nat'l title team in 1951.
This post was edited on 11/20/12 at 3:46 pm
Posted on 11/20/12 at 3:12 pm to Notre Dame Fan
quote:
Jimmy Haslam remember that name! He just bought the Cleveland Browns for 1 Billion dollars US, his brother is the Governor and he is a huge UT booster. He could really pony up and UT needs him too!
It's their dad who gives the big bucks to the university. Big Jim.
Posted on 11/20/12 at 3:14 pm to Domination
51.
Posted on 11/20/12 at 3:14 pm to blacknblu
quote:We still owe Pearl and Todd Raleigh money. Hamilton also jewed us out of $1 million for himself that I'm not sure is totally paid off yet.
The only buyout you owed was to Dooley (and his staff?)
ETA: Nevermind. Pearl and Raleigh were paid off in July. Hamilton continues to get $37,000/month until July 2014. Former UT wide receiver coach Charlie Baggett is being paid $425,000 over 24 months based on an agreement that began on Dec. 31, 2011.
This post was edited on 11/20/12 at 3:19 pm
Posted on 11/20/12 at 3:14 pm to volfan30
Is this the Gruden fund.
Posted on 11/20/12 at 3:15 pm to volfan30
This isn't money that the university is giving to the Athletic Department- It's the yearly donation that the AD typically gives the university and is electing not to for 3 years.
Posted on 11/20/12 at 3:15 pm to Eighteen
quote:
its like LSU in reverse
That's what I was thinking.
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