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re: Bloomberg - College Football’s Top Teams Are Built on Crippling Debt
Posted on 1/4/17 at 10:03 am to thelawnwranglers
Posted on 1/4/17 at 10:03 am to thelawnwranglers
quote:
fake news
so you dont understand what this news actually is, so you call it "fake" 
1
Posted on 1/4/17 at 10:04 am to Bench McElroy
quote:
I have a strong feeling that the "debt" of college football teams is the same kind of "debt" that Fortune 500 companies and billionaires claim on their tax returns. They're crying poor because they don't want to pay student athletes.
There is a certain level of gamesmanship in the accounting of major universities. It has a lot to do with state and federal funding and federally-backed student loans (and the level of tuition they can justify). I don't believe it has much of anything to do with paying student-athletes.
The paying student-athletes has a lot more to do with the fact that it would blow up the amateur model, expose the inequality of men's and women's sports, and could snowball into a for-profit model for entities that are nominally "non-profit".
This post was edited on 1/4/17 at 10:05 am
Posted on 1/4/17 at 10:11 am to UAtide11
The rights fees may start going down which will hurt as folks cut the cord from ESPN, etc. Cal seems to have gone overboard on spending and now can not afford it. Their income to debt ratio appears high.
Posted on 1/4/17 at 10:13 am to allin2010
TAMU is so rich they are the biggest debtor in the SEC.
Posted on 1/4/17 at 10:15 am to MartyMoose09
College football seems to be a house of cards at the moment.
Dwindling attendance, and falling ratings for ESPN could mean financial ruin for some of these programs that have stretched themselves too far.
Dwindling attendance, and falling ratings for ESPN could mean financial ruin for some of these programs that have stretched themselves too far.
Posted on 1/4/17 at 10:17 am to MartyMoose09
2014
Posted on 1/4/17 at 10:20 am to MartyMoose09
A few things to note:
1. They are lumping in LSU's school system debt. The athletic department is privately funded and running at a massive surplus each year.
2. Not all debt is bad. Some debt is actually very good in some cases. Bloomberg of all publications should fricking know this.
1. They are lumping in LSU's school system debt. The athletic department is privately funded and running at a massive surplus each year.
2. Not all debt is bad. Some debt is actually very good in some cases. Bloomberg of all publications should fricking know this.
Posted on 1/4/17 at 10:21 am to Bench McElroy
quote:
I have a strong feeling that the "debt" of college football teams is the same kind of "debt" that Fortune 500 companies and billionaires claim on their tax returns.
wut?
Posted on 1/4/17 at 10:23 am to TheCaterpillar
quote:
1. They are lumping in LSU's school system debt. The athletic department is privately funded and running at a massive surplus each year.
Most ADs in the SEC are done this way and like LSU have debt.
Posted on 1/4/17 at 10:24 am to allin2010
quote:
Cal seems to have gone overboard on spending and now can not afford it.
It's not that they can't afford it, per se. It's more that they won't want to afford it because it won't be worth it. No matter what happens, this won't 'bankrupt' Cal. It might hold them back a little or make them forego other expansion opportunities.
Obviously, the idea of taking on this type of debt (or any debt really) is that you will leverage it in order to increase your revenues. Thereby the debt basically pays for itself.
Without knowing what Alabama's balance sheets look like, I imagine their stadium expansion has more-or-less paid for itself in terms of direct revenue, increased enrollment, etc. If all the debt being taken on by Cal or A&M or whomever doesn't generate the returns they were expecting, then it becomes a massive waste of money. Even more so, when you think about all the things a phenomenal university such as Cal (and make no mistake, it's one of the best schools in the world) could have done with $300m.
This post was edited on 1/4/17 at 10:25 am
Posted on 1/4/17 at 10:24 am to JamalSanders
quote:
Most ADs in the SEC are done this way and like LSU have debt.
I never said either of this things were untrue?
Posted on 1/4/17 at 10:38 am to StopRobot
quote:
TAMU is so rich they are the biggest debtor in the SEC.
Well yeah, really rich people usually have massive credit lines available to them.
Haven't you ever heard of a AMEX Black Card before?
Posted on 1/4/17 at 10:42 am to TheCaterpillar
quote:
I never said either of this things were untrue?
No, but you implied that LSU's AD wasn't in debt due to their annual surplus.
Posted on 1/4/17 at 10:42 am to cardboardboxer
quote:
What the frick are the rest of those programs spending their money on?
Texas is buying 2nd class talent but paying 1st class prices.
Suckers!
Posted on 1/4/17 at 10:45 am to TheCaterpillar
quote:
They are lumping in LSU's school system debt.
Not according to TAF financial statements...
quote:
The athletic department is privately funded and running at a massive surplus each year.
has nothing to do with total debt
FYI on Dec 31 2015, TAF had $204,667,276.00 in outstanding debt from a total of 4 bonds
Posted on 1/4/17 at 11:04 am to bigDgator
quote:
How is FSU not in there?
Erector sets are cheap.
Posted on 1/4/17 at 11:13 am to UF
I think they steal from the state with all the legislators they have right there at home.
Posted on 1/4/17 at 11:19 am to MartyMoose09
Just a reminder that all of you that get the Longhorn Network are making significant monthly contributions to pay down the Texas debt. I want to say thank you, especially to all of the aggies, for your generosity. Please pay your cable bills on time.
Posted on 1/4/17 at 11:22 am to bigDgator
So person A has 1 million in debt, and 5 million in assets
Person B has 0 in debt, and 1 dollar in assets.
Are we trying to imply with this subtle troll that we want to be person B?
Person B has 0 in debt, and 1 dollar in assets.
Are we trying to imply with this subtle troll that we want to be person B?
Posted on 1/4/17 at 11:25 am to MartyMoose09
I'm not familiar with any recent capital improvements. What on earth did we spend $226M on? It's not like we have high salary coaching staffs.
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