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McGarity: "We can weather the storm" "100 million in reserve funds"
Posted on 4/8/20 at 8:32 am
Posted on 4/8/20 at 8:32 am
LINK
I never liked his tight fisted mgt but in this case it'll pay off IF the worse case scenario plays out.
BTW,only 41% of P5 schools have reserve funds? And even worse in G5.
I never liked his tight fisted mgt but in this case it'll pay off IF the worse case scenario plays out.
BTW,only 41% of P5 schools have reserve funds? And even worse in G5.
quote:
Just 41 percent of Power 5 schools and 26 percent of Group of 5 schools have a reserve fund, according to data obtained from a recent Learfield/IMG Sport release.
This post was edited on 4/8/20 at 1:05 pm
3
Posted on 4/8/20 at 10:13 am to RD Dawg
I'm afraid those that did not prepare will just get bailed out anyway. Not sure large reserves are strategically a good thing.
Posted on 4/8/20 at 11:34 am to RD Dawg
I would love to hear from all of those that we’re bitching and moaning about McG having such a huge rainy day fund and not just stroking checks for renovations and expansions.
Posted on 4/8/20 at 12:47 pm to SquatchDawg
quote:
I would love to hear from all of those that we’re bitching and moaning about McG having such a huge rainy day fund and not just stroking checks for renovations and expansions.
Same, although It's also hard to judge a cash position when you have no idea what kind of liabilities are on the books. A full balance sheet would be helpful here.
Posted on 4/8/20 at 12:57 pm to SquatchDawg
quote:
just stroking checks for renovations and expansions.
Who wants expansion? He's already cut checks for renovations.
Still doesn't excuse him for our horrible situation with restrooms and concessions
Fixing those wouldn't break the bank.
Posted on 4/8/20 at 1:01 pm to SquatchDawg
quote:
would love to hear from all of those that we’re bitching and moaning about McG having such a huge rainy day fund and not just stroking checks for renovations and expansions.
Mcgarity lucking into a global pandemic doesn't mean he hasn't made shitty decisions in the past. We can both be irritated with his insane penny pinching and short sighted leadership and also happy we have money socked away right now for this situation.
Posted on 4/8/20 at 2:13 pm to WG_Dawg
The only good thing about hoarding that money is the interest it earns us. Having a stockpile of funds doesn't really do an athletic program like us any good. So our sports could operate for a year without revenue, using reserves... who cares when none of the other schools can... you won't have anyone to play against. There still won't be any games. But at least we'll have that money!
Posted on 4/8/20 at 6:10 pm to RD Dawg
I haven't seen a thread (but maybe missed) but what is the collective thought on 2020 contributions AND 2020 ticket purchases IF there is no season?
They would (obvioulsy?) have to refund with the push to roll the tickets forward to 2021.
I can't imagine there wouldn't be pushback on the contributions to roll forward as well given the simply fact that most people only make the contribution to get tickets not because they simply love our athletic program.
Posted on 4/8/20 at 8:38 pm to RealDawg
There's zero chance in hell you're getting your contribution back.
For tickets I would GUESS you can either refund or roll it to next year.
For tickets I would GUESS you can either refund or roll it to next year.
Posted on 4/9/20 at 5:37 am to WG_Dawg
Nm
Posted on 4/9/20 at 7:22 am to FinleyStreet
Logic? Here? NO WAY SIR PLEASE SEE YOURSELF OUT
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