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Alabama athletic department was over 207 million dollars in debt last year
Posted on 1/29/13 at 8:06 pm
Posted on 1/29/13 at 8:06 pm
Alabama and LSU, fricking broke arse bastards.
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LINK
quote:
In addition, outstanding debt and debt service for athletic departments can fluctuate greatly from year to year. Just a year ago, Alabama and LSU carried more debt on their books than Tennessee. According to Alabama’s 2010-11 NCAA financial disclosure, it had outstanding debt of $207 million. LSU came in right behind at $202 million. Tennessee was third in the conference at $188 million. For the 2010-11 fiscal year, Tennessee was fifth when it came to annual debt service payments, behind Alabama, LSU, Georgia and Auburn.
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Posted on 1/29/13 at 8:09 pm to Crompdaddy8
Debt is cheaper than equity, fun fact that has nothing to do with this.
Posted on 1/29/13 at 8:11 pm to Crompdaddy8
Posted on 1/29/13 at 8:11 pm to Crompdaddy8
Saban will be on pawn stars next year trying to unload some crystal footballs.
Posted on 1/29/13 at 8:12 pm to Crompdaddy8
Good thing LSU and Bama have a higher revenue than UT. Pshew.
Posted on 1/29/13 at 8:13 pm to UASports23
quote:
Good thing LSU and Bama have a higher revenue than UT. Pshew.
You can spend the money when you know it's coming right back. Smart businessmen don't put all their money in the bank. LSU and Bama athletics are an investment and if you look at recent times, it pays the frick out.
This post was edited on 1/29/13 at 8:15 pm
Posted on 1/29/13 at 8:14 pm to Crompdaddy8
Alabama's got the revenue to support it fwiw
Posted on 1/29/13 at 8:14 pm to Crompdaddy8
Meh
Posted on 1/29/13 at 8:14 pm to Crompdaddy8
Probably why they got into the deer antler steroids business.
This post was edited on 1/29/13 at 8:15 pm
Posted on 1/29/13 at 8:14 pm to UASports23
Much, much higher.
Posted on 1/29/13 at 8:17 pm to Crompdaddy8
Tennessee doesn't have a revenue or debt problem. We have a suckage problem. Which is actually a decade of AD leadership suckage. All it takes is a good coach, but I have zero faith that the current leadership is capable of making that hire. With how the coaching search was botched, it would be blind luck if it turned out to be Butch Jones.
edit: Does anybody have a link of revenues (not net revenue)? Last I looked Tennessee was comparable with Florida and LSU ($110Mish) and Bama was a bit higher (like $130M).
edit: Does anybody have a link of revenues (not net revenue)? Last I looked Tennessee was comparable with Florida and LSU ($110Mish) and Bama was a bit higher (like $130M).
This post was edited on 1/29/13 at 8:22 pm
Posted on 1/29/13 at 8:17 pm to Crompdaddy8
Yet, LSU and Florida continue to be the only two entirely privately funded football programs and never take a dime from the state.
Posted on 1/29/13 at 8:19 pm to Crompdaddy8
The problem ain't the debt. The problem is the reserves. UT has mortgaged a $200,000 house with a $1,700 payment and they have $1,300 in the bank.
Im sure they will work through it just fine, but the numbers look rough from a business perspective.
Im sure they will work through it just fine, but the numbers look rough from a business perspective.
Posted on 1/29/13 at 8:21 pm to NukemVol
quote:
Tennessee doesn't have a revenue or debt problem. We have a suckage problem.
Agreed. However, your attendance is dropping whereas LSU and 'Bama's attendance = skyrocketing.
Sure, 'Bama has put 40% back into their program. But, it has paid off plus we've had a lot of expansion like UT.
UT isn't done by all means, but they COULD be if they don't start winning again. But, that'll take a long long time of suckage.
Posted on 1/29/13 at 8:22 pm to Crompdaddy8
Just out of curiosity how much outstanding debt do you think Apple has? Walmart? Nike?
Posted on 1/29/13 at 8:23 pm to Sev09
quote:
Yet, LSU and Florida continue to be the only two entirely privately funded football programs and never take a dime from the state.
This is wrong. FYI. Bama doesn't take any funding from the state.
quote:
Why does the University of Alabama, a state university, need private support?
As the Athletic Department at the University of Alabama is 100% self-supporting, all private gifts contribute directly to the needs of our student-athletes, coaches and staff. UA Athletics receives no funding from the State of Alabama. In fact, the University of Alabama Athletic Department has never received funds from the State's taxpayers. All gifts to the Crimson Tide Foundation are applied solely to the Athletic Department's needs. The Crimson Tide Foundation provides a venue through which loyal alumni, fans and friends can give financial support to the Athletic Department, while capturing all the current tax benefits allowed by the IRS. Private support enables UA Athletics to increase its standing, in both athletics and academics, over competing universities beyond what can be accomplished with annual revenue from ticket sales, media rights and other licensing agreements.
RollTide.com
Posted on 1/29/13 at 8:23 pm to Crompdaddy8
In the long run Tennessee will be fine. you gotta spend money to make money
Posted on 1/29/13 at 8:26 pm to Crompdaddy8
quote:We are spending WAY too much on recruits. Time to cut back a little.
over 207 million dollars in debt last year
Posted on 1/29/13 at 8:41 pm to hwnd
Too much dreamland.
Posted on 1/29/13 at 8:41 pm to UASports23
I think he is referring to ad's recieving money from the school, but I am pretty sure that has more to do with their accounting methods.
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