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re: Alabama athletic department was over 207 million dollars in debt last year
Posted on 1/30/13 at 6:09 am to Crompdaddy8
Posted on 1/30/13 at 6:09 am to Crompdaddy8
Haha look at all you poors
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Posted on 1/30/13 at 6:32 am to PepaSpray
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PepaSpray
Do you joke much?
Posted on 1/30/13 at 9:25 am to Crompdaddy8
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Crompdaddy8
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LINK
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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.
Go look at the issues we have with debt servicing. Oh that's right, we have none!
Oh, and go look at how much subsidization we get from the state. Oh that's right, we have none!
While you're doing that, go look at how we were able to make something approaching an 8 figure donation to our University last year. We didn't have to run to Professor Junior & Chancellor LuLu to ask for a break on our donation.
$100,000,000.00 in revenue last year, homeslice. We don't hire shitty coaches. So we don't buy out shitty coaches, and we don't have problems paying our bills.
Posted on 1/30/13 at 9:34 am to crimsonsaint
"Just out of curiosity how much outstanding debt do you think Apple has? Walmart? Nike?"
Poor examples. Apple has no long-term debt (neither does Microsoft) and has 15 BILLION cash on hand. These companies are making money faster than they can accumulate debt (spend it). That's why they are constantly buying other companies. If they don't, shareholders will clammor for increased dividends (a bad idea if you're a company type, but good if you're a shareholder!
Poor examples. Apple has no long-term debt (neither does Microsoft) and has 15 BILLION cash on hand. These companies are making money faster than they can accumulate debt (spend it). That's why they are constantly buying other companies. If they don't, shareholders will clammor for increased dividends (a bad idea if you're a company type, but good if you're a shareholder!
This post was edited on 1/30/13 at 9:37 am
Posted on 1/30/13 at 9:38 am to NYCAuburn
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I am pretty sure they did in 2011
Where do you come up with this? Every single scholarship athlete has their tuition money paid TO the school FROM the Athletic Dept. The University doesn't just let them in for free. So yes, you are mistaken.
Posted on 1/30/13 at 9:40 am to CapstoneGrad04
He usually is.
Posted on 1/30/13 at 9:54 am to CapstoneGrad04
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So yes, you are mistaken.
Orly, So Bama AD did not get around a 5 million dollar subsidy? well $5,235,300 to be exact
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Where do you come up with this?
I just made it up, obviously, duh
ETA, just other numbers I made up
2010 $4,980,000 subsidy
2009 $5,050,985 subsidy
2008 $9,457,537 subsidy
FTR, Auburn and every other school in the SEC gets them, LSU does not, but again its an accounting thing
This post was edited on 1/30/13 at 10:09 am
Posted on 1/30/13 at 9:55 am to coachcrisp
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He usually is.
Posted on 1/30/13 at 9:59 am to InVolNerable
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UT is the only SEC school that pays taxes on it's ticket sales for football and basketball. 5% entertainment tax and the 9.25% sales tax.
UT fans, not UT itself.
Posted on 1/30/13 at 10:20 am to NYCAuburn
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FTR, Auburn and every other school in the SEC gets them, LSU does not, but again its an accounting thing
LSU's AD actually gives back substantially to the University. Luckily the AD is flush with cash...the University is not; thanks Jindal.
Posted on 1/30/13 at 10:22 am to ibldprplgld
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LSU's AD actually gives back substantially to the University
As do most of the other schools
Posted on 1/30/13 at 10:34 am to NYCAuburn
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LSU's AD actually gives back substantially to the University
As do most of the other schools
paired with LSU's AD not taking a single cent from the taxpayers = LSU ballin
Posted on 1/30/13 at 10:34 am to CtotheVrzrbck
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you're forgetting that LSU and Bama operate at a high profit. Tennersee does not.
This. Bama's profit margin is 15.6%, LSU's is 14.4%. These are the 2 best return on investment schools we see here. Tennessee is only operating at a 6.5% profit margin.
So if you were an investor, you would definitely be putting your money into LSU and Bama. That's why they have more debt. They have the revenue to support their spending. Tennessee does not.
Posted on 1/30/13 at 10:36 am to Run DMC
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Run DMC
get out of here with those smarts and reasoning
Posted on 1/30/13 at 10:38 am to ibldprplgld
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with LSU's AD not taking a single cent from the taxpayers
Like I said, that subsidy, from Bama, Auburn, and a few other schools is not really taking money from tax payers but a different avenue of accounting.
Posted on 1/30/13 at 10:42 am to NYCAuburn
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ike I said, that subsidy, from Bama, Auburn, and a few other schools is not really taking money from tax payers but a different avenue of accounting.
Just curious, what is the source of that subsidy?
Posted on 1/30/13 at 10:59 am to ibldprplgld
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Just curious, what is the source of that subsidy?
For Auburn, and I believe Bama is very similar, it is payment from the school to the AD for various things, like student tickets, leases, etc... it's not really a subsidy, as in, subsidizing for lack of revenue, it payment for items, the NCAA just clasifies it as a subsidy because of who is paying.
Posted on 1/30/13 at 11:02 am to NYCAuburn
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For Auburn, and I believe Bama is very similar, it is payment from the school to the AD for various things, like student tickets, leases, etc... it's not really a subsidy, as in, subsidizing for lack of revenue, it payment for items, the NCAA just clasifies it as a subsidy because of who is paying.
Do the ADs then give the school a portion of its revenues? I know bookkeeping can be very comlicated, especially with large entities with different types of incomes.
Posted on 1/30/13 at 11:04 am to ibldprplgld
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Do the ADs then give the school a portion of its revenues?
yes
Posted on 1/30/13 at 11:15 am to Crompdaddy8
Most have to go into debt to acquire things, really no shame in that. It's the whole not being able to pay it back that's the arse kicker for tennessee.
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