Big 12 Conference Realignment
- Thread starter t-noah
- Start date
Whoof. Makes me appreciate Jamie, who has proven to be an excellent handler of finances and knows how to maximize the most from a fairly limited budget.
What is it with the Pac-12 teams and not being able to balance a budget? Yeeeeesh.
Yikes. That seems like a lot of $ (Maybe in context of athletics budgets it isn't, but I'm not expert in that area).
How much will they actually touch football and MBB? If there are 21 other sports. Or does it have to be "balanced" somehow?
Not at all, the non revenue sports are going to be slashed dramatically unless some donors step up. Also how do you misbudget that badly?
Gotta wonder if ASU is looking at a similar situation and that's what led their AD to bail? Big 12 schools typically sponsor 17 varsity sports. UA has 23, and ASU has 26.
Like someone mentioned on the other thread. Probably partially because they believed overly optimistic income projections (lies?) from PAC12 media deals and their incredibly inept commissioner(s).
At least part of it could be, anyway.
At least part of it could be, anyway.
Yes, I think this is part of it for sure. Several of those schools believed they were going to get a lot more. This includes the last few years as well, the PAC handled the last few years terribly and lost more than any during the covid year/s. The lost money on the PAC Net, and then have to pay back the overage to the media partners. So they have had a disaster when it comes to money and budgets.
And as someone mentioned some of them have a lot of non rev sports that most have gotten rid of.
Just more terrible mismanagement in the PAC.
$240 million "goes missing." That has to be fraud or the accounting firm that was doing the books better lawyer up.
Interesting details within the article. Robbins apparently laments a merit based system for instate students where tuition is frozen at a static point for their 4 year term.
Never thought we’d see the pendulum swing when a public university president openly says that regular students don’t generate enough revenue. Especially in a system that doesn’t even pay its revenue generating athletes for their name, image, and likeness.
Even if the PAC projections for media were double (!!!) what Big 12 payout actually is, that’s only about $40M per year on top of the deal that was on the table. Annual athletics budget is $100M there. Would love to know everything in between for that $240M shortfall.
Never thought we’d see the pendulum swing when a public university president openly says that regular students don’t generate enough revenue. Especially in a system that doesn’t even pay its revenue generating athletes for their name, image, and likeness.
Even if the PAC projections for media were double (!!!) what Big 12 payout actually is, that’s only about $40M per year on top of the deal that was on the table. Annual athletics budget is $100M there. Would love to know everything in between for that $240M shortfall.
Is it being reported that $240M went missing? I didn't think that was the case.
I haven't seen what the 240 M actually relates to, is this a 5 year buildup of revenues < expenses? Is this a projected shortfall over the next 5 years? Need some context around the headline grabber.
Agreed, it didn't sound like financial theft or accounting irregularities.
Sounded like the university is saddled with state based academic scholarships and tuition freezes that limit revenue. My guess is this is heightened by high inflation over the last 3 years.
I would expect this will become a common issue among universities over the next few years. The easy federal money and state subsidies is drying up
From an athletics standpoint, dropping a handful of Olympic sports and Big12 TV money should help.
The Wildcats also have very good football and hoops coaches. Hopefully, they can leverage increased revenue from those 2 sports
Turns out the only thing that's less attended than a Pac 12 football game are the budget meetings. Those beaches though...
Meanwhile he's making $900k/year base salary, along with $500k in potential bonuses, a free mansion, free cars, and UA has around 24 non-teaching SVPs/VPs/AVPs each of whom is making hundreds of thousands a year in salary.
So these are the geniuses that led the university into this mess, and yet all we hear is how schools MUST pay up for administrators in order to get the best and brightest. Lol.
Then we wonder why a four-year public university education continues to spiral wildly out of reach.
I doubt most of it didnt go missing, it was probably apprioated in the wrong places.
If they cant account for 240 mil someone is a ******* or the whole school is cooking the books.
This aint 20 bucks.
Probably were promised some amount of money from the Pac 12 and that never happened.
