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Someone help me out here... I thought we were going to be in a budget crisis?
Posted on 2/16/18 at 2:15 pm
Posted on 2/16/18 at 2:15 pm
Apologies in advance, as this is a lengthy post once you factor in the quoted content...
But wasn't that roughly the excuse that ADGM decided to use when upping ticket prices?
For anyone who doesn't read his blog, the Senator pulled together a message boarder's work into a solid read on SEC athletic department revenues vs expenses for FY17 (ended June 2017) here.
The long and short of it are:
Expenses:
Revenues:
Revenues: $157,852,479
Expenses: $110,084,458
Net: $47,768,021
Perhaps more importantly, that is Football operating at a nearly $57M net profit and Basketball shocking operating at over $3M in net profit. Pretty sure we just read yesterday that roughly 2/3 of D1 basketball programs are break even or worse as well...
Where does that rank us in the SEC?
2nd in total revenue, 10th in expenses, and 1st by a landslide in total profit.
Not sure I see how our upcoming budget could possibly have been that dire unless there is some major missing info here. I'll be eagerly awaiting this info once we get the FY18 figures following all the success that the football team had this season.
I was curious where we ranked for basketball... fortunately AirForceDawg was kind enough to provide that in the comments as well:
Surprise surprise, UGA spent the least on Basketball... and yet... came out 6th in net profit in the SEC. But it's the fans lack of support that really make it so hard to have success in basketball. At least that's what I've been told more than a few times here.
If you look just at the basketball expenses, essentially you see Tennessee getting a steal of a value in Rick Barnes after he was let go, and UF hiring a quality up and comer in Mike White (but still outspending us by roughly 16%), and it only goes up from there when you're looking at teams that are having success. Spending money willy nilly isn't a strategy, but identifying the right coach and supporting them with a level more in line with successful teams not named Kentucky would seem to be a good starting point. If it weren't for Fox's outright baffling in-game decision making, I'd almost be willing to give him a slight pass based on these figures... He's basically had to be college basketball's version of the Frugal Gourmet.
But wasn't that roughly the excuse that ADGM decided to use when upping ticket prices?
For anyone who doesn't read his blog, the Senator pulled together a message boarder's work into a solid read on SEC athletic department revenues vs expenses for FY17 (ended June 2017) here.
The long and short of it are:
Expenses:
Revenues:
Revenues: $157,852,479
Expenses: $110,084,458
Net: $47,768,021
Perhaps more importantly, that is Football operating at a nearly $57M net profit and Basketball shocking operating at over $3M in net profit. Pretty sure we just read yesterday that roughly 2/3 of D1 basketball programs are break even or worse as well...
Where does that rank us in the SEC?
quote:
FY2017 (i.e., 1 July 2016 – 30 June 2017) Athletics Department Revenue:
1. Alabama: $174,305,613
2. Georgia: $157,852,479
3. Auburn: $147,413,201
4. Louisiana State: $146,934,487
5. Florida: $142,545,938
6. Tennessee: $139,659,550
7. South Carolina: $136,032,845
8. Arkansas: $132,172,997
9. Texas A&M: $130,442,544
10. Kentucky: $122,307,014
11. Ole Miss: $101,857,663
12. Missouri: $90,034,258
13. Mississippi State: $89,696,829
14. Vanderbilt: $80,335,651
FY2017 (i.e., 1 July 2016 – 30 June 2017) Athletics Department Expenses:
1. Alabama: $143,634,940
2. Florida: $137,818,468
3. South Carolina: $135,499,095
4. Louisiana State: $131,722,243
5. Tennessee: $128,944,788
6. Auburn: $125,832,608
7. Texas A&M: $122,615,852
8. Kentucky: $121,688,546
9. Arkansas: $116,112,803
10. Georgia: $110,084,458
11. Ole Miss: $92,908,665
12. Missouri: $90,034,258
13. Mississippi State: $77,773,532
13. Vanderbilt: $69,803,910
FY2017 (i.e., 1 July 2016 – 30 June 2017) Athletics Department Profit:
1. Georgia: $47,768,021
2. Alabama: $30,670,673
3. Auburn: $21,580,593
4. Arkansas: $16,060,194
5. Louisiana State: $15,212,244
6. Mississippi State: $11,923,297
7. Vanderbilt: $10,531,741
8. Tennessee: $10,714,762
9. Ole Miss: $8,948,998
10. Texas A&M: $7,826,692
11. Florida: $4,727,470
12. South Carolina: $533,750
13. Kentucky: $618,468
14. Missouri: $0
2nd in total revenue, 10th in expenses, and 1st by a landslide in total profit.
Not sure I see how our upcoming budget could possibly have been that dire unless there is some major missing info here. I'll be eagerly awaiting this info once we get the FY18 figures following all the success that the football team had this season.
I was curious where we ranked for basketball... fortunately AirForceDawg was kind enough to provide that in the comments as well:
quote:
FY2017 (i.e., 1 July 2016 – 30 June 2017) SEC Men’s Basketball Revenue:
Kentucky: $27,965,227
Tennessee: $18,322,729
Arkansas: $16,332,876
Alabama: $15,003,656
Florida: $14,200,425
South Carolina: $11,948,781
Ole Miss: $10,700,408
Missouri: $10,065,698
Auburn: $9,900,612
Georgia: $9,459,251
Vanderbilt: $9,378,279
Texas A&M: $8,905,402
LSU: $8,135,734
Mississippi State: $7,572,191
FY2017 (i.e., 1 July 2016 – 30 June 2017) SEC Men’s Basketball Expenses:
Kentucky: $19,180,059
Missouri: $10,065,698
Arkansas: $9,790,947
Alabama: $9,681,264
Auburn: $9,632,816
South Carolina: $9,282,730
Texas A&M: $8,953,278
Ole Miss: $7,588,764
Florida: $7,207,469
Vanderbilt: $7,168,389
Tennessee: $6,977,691
Mississippi State: $6,563,856
LSU: $6,516,369
Georgia: $6,237,492
Bottomline: UGA Men’s Basketball turned a $3,221,759 profit in FY2017.
Surprise surprise, UGA spent the least on Basketball... and yet... came out 6th in net profit in the SEC. But it's the fans lack of support that really make it so hard to have success in basketball. At least that's what I've been told more than a few times here.
If you look just at the basketball expenses, essentially you see Tennessee getting a steal of a value in Rick Barnes after he was let go, and UF hiring a quality up and comer in Mike White (but still outspending us by roughly 16%), and it only goes up from there when you're looking at teams that are having success. Spending money willy nilly isn't a strategy, but identifying the right coach and supporting them with a level more in line with successful teams not named Kentucky would seem to be a good starting point. If it weren't for Fox's outright baffling in-game decision making, I'd almost be willing to give him a slight pass based on these figures... He's basically had to be college basketball's version of the Frugal Gourmet.
Posted on 2/16/18 at 3:14 pm to diddlydawg7
McGarity may have lied, but aren't our ticket prices in the bottom third of the league? Hard to complain if that is the case.
Nevermind mind, I read that wrong. I didn't realize we were second in revenues.
Nevermind mind, I read that wrong. I didn't realize we were second in revenues.
This post was edited on 2/16/18 at 3:15 pm
Posted on 2/16/18 at 3:33 pm to fibonaccisquared
P&L is only half the story. What's our cash position? What are our debt obligations? Maybe we have a note coming due or spent a bunch of money on capital equipment last year.
Posted on 2/16/18 at 3:52 pm to FinleyStreet
quote:
P&L is only half the story. What's our cash position? What are our debt obligations? Maybe we have a note coming due or spent a bunch of money on capital equipment last year.
Sure... As I mentioned, there could be significant information that is missing, but that's a pretty big damn number.
Posted on 2/16/18 at 5:28 pm to fibonaccisquared
Yep, happy or not, our admins know how to manage a profitable university.
Posted on 2/16/18 at 5:34 pm to FinleyStreet
Read the other day that the university has 90’ish million in bond debt obligations and keeps 49MM in reserves as half value of the muni’s or whatever bonds they are. There is plenty of money in the till.
This post was edited on 2/16/18 at 5:35 pm
Posted on 2/16/18 at 5:36 pm to fibonaccisquared
You can't put all that money we're paying 'croots on the books.
Posted on 2/16/18 at 5:37 pm to DawgHolliday
Also, the stated reason for the increase in ticket prices was coaching salary increases.
Total increase was in the 2MM per year range, and expected additional revenue from the increased ticket prices is close to 7MM per annum.
Total increase was in the 2MM per year range, and expected additional revenue from the increased ticket prices is close to 7MM per annum.
Posted on 2/16/18 at 5:51 pm to DawgHolliday
quote:
Also, the stated reason for the increase in ticket prices was coaching salary increases.
Total increase was in the 2MM per year range, and expected additional revenue from the increased ticket prices is close to 7MM per annum.
They plannin' on makin' Kirby about 5M per year richer? If so, that math works out.
Posted on 2/16/18 at 6:20 pm to fibonaccisquared
Does the AD still have $50m sitting in the general fund?
Posted on 2/16/18 at 6:41 pm to Peter Buck
That’s what I read a couple of days ago Cracker...close enough to 50.
Posted on 2/16/18 at 7:02 pm to fibonaccisquared
Been saying this since his BS excuse for the ticket price raise.
If I had to guess there's even more revenues AND profit hidden from the books for this year.We received $2.3 million for "travel expenses"for the NC game...not much of a journey from Athens to Atlanta BTW.How much do you think we spent "on the books"?
My guess would be every single penny.
And we still have one of the worst game day experiences in the SEC with all this revenue coming in.
If I had to guess there's even more revenues AND profit hidden from the books for this year.We received $2.3 million for "travel expenses"for the NC game...not much of a journey from Athens to Atlanta BTW.How much do you think we spent "on the books"?
My guess would be every single penny.
And we still have one of the worst game day experiences in the SEC with all this revenue coming in.
This post was edited on 2/16/18 at 7:26 pm
Posted on 2/16/18 at 7:06 pm to GurleyGirl
quote:
Yep, happy or not, our admins know how to manage a profitable university
And they know how to stick it to season ticket holders better than any other school in the SEC
Gee,I wonder if they'll bring back the bottomless refill souvenir cups? What bunch of cheap bastards.
This post was edited on 2/16/18 at 7:07 pm
Posted on 2/16/18 at 10:04 pm to RD Dawg
That condescending BS about coaches salaries and ticket prices honestly pissed me off..and I def shared that with them. They clearly do this crap every time we have a good season when they know they will get the least resistance.
Just call a spade and damn spade. We had a good year and y'all are gonna pay up (not that it works the other way around).
I can't believe all the media that fell for that UGA is in the bottom third in ticket prices. Leaving the now not deductible "donation" off that is crap. Last I checked, like 5 SEC schools require "zero" donation to get tickets. Hell, USCe is $50 bucks.
So they start a parallel donation campaign to the current fund to pay for all the capital projects we must have to be successful. Fine. Have a good season and already used those projects to get more money, so you make up some BS about coaches salaries as if that wasn't already budgeted.
All the while making unplanned bank from a huge increase in merchandising (which usually is about 3-5% of budgeted revenue) and the unplanned $4.2 million + travel allowance that goes direct to us for being in two games with +6 mill payout.
They keep tapping us on both ends.
And seriously, can I get a free mf refill on my ice because brown liquor melts ice fast when its 95 degrees, and I gotta drink to watch Austin Pee, 5th best Tennessee team, and a Yankee team I had no idea even played football.
Just call a spade and damn spade. We had a good year and y'all are gonna pay up (not that it works the other way around).
I can't believe all the media that fell for that UGA is in the bottom third in ticket prices. Leaving the now not deductible "donation" off that is crap. Last I checked, like 5 SEC schools require "zero" donation to get tickets. Hell, USCe is $50 bucks.
So they start a parallel donation campaign to the current fund to pay for all the capital projects we must have to be successful. Fine. Have a good season and already used those projects to get more money, so you make up some BS about coaches salaries as if that wasn't already budgeted.
All the while making unplanned bank from a huge increase in merchandising (which usually is about 3-5% of budgeted revenue) and the unplanned $4.2 million + travel allowance that goes direct to us for being in two games with +6 mill payout.
They keep tapping us on both ends.
And seriously, can I get a free mf refill on my ice because brown liquor melts ice fast when its 95 degrees, and I gotta drink to watch Austin Pee, 5th best Tennessee team, and a Yankee team I had no idea even played football.
Posted on 2/18/18 at 8:58 am to fibonaccisquared
Thanks for sharing, once again shows how cheap Georgia is.
Posted on 2/18/18 at 10:00 am to HTDawg
quote:
Not when compared to the rest of the SEC.
It's like you want to get laughed at... if you're not up to date on all the goings on, maybe best not to comment.
The link is from 2015... we've just jacked up ticket prices, in addition to donation targets going up last season. The minimum "total price" to get season tickets is significantly higher than the rest of the conference and second highest in the country behind only Notre Dame. Feel free to educate yourself a bit further here:
LINK /
Posted on 2/18/18 at 10:21 am to fibonaccisquared
AND we have perhaps the worst fan experience in the SEC.
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