CR Gazette: ISU AD facing potential $147M deficit by 2031 with direct to player payments

[ISUCyclones2015]

Facing $147M deficit, ISU Athletics halts Hilton Coliseum renovation, ups ticket prices

Iowa State University Athletics — facing a $147 million budget deficit through 2031, or just under $25 million annually over the next six years — is rolling out painful concessions, including indefinitely postponing construction of a new wrestling practice facility and $25 million renovation of...

www.thegazette.com

 

[alarson]

 

[cyclone4L]

College Athletics 2025

 

[Cyclone06]

Not worried. Once I start buying $69 yard margaritas from cantina bar and grill in cytown on game day, we’ll have all the money needed. Go slob or go home.

 

[dirtfarmer]

It looks to me like they are using the House settlement to weed out the poor schools and destroy the Big12 and ACC without the Big10/SEC getting their hands dirty. Then they can swoop in and grab the few wealthy programs left.

I just do not see ISU having enough wealthy donors to fund this level of annual loss. What are the odds that the Board of Regents come to the rescue and find a way to kick in the money that difference that ISU donors can't pickup?

 

[3TrueFans]

Cover the bridge in advertisements.

 

[ClonerJams]

It looks to me like they are using the House settlement to weed out the poor schools and destroy the Big12 and ACC without the Big10/SEC getting their hands dirty. Then they can swoop in and grab the few wealthy programs left.

I just do not see ISU having enough wealthy donors to fund this level of annual loss. What are the odds that the Board of Regents come to the rescue and find a way to kick in the money that difference that ISU donors can't pickup?

I think what will happen is what happened in Arizona where the university could help fund the AD. Its insanity if they don't allow that to happen.

 

[FarmerCy1]

It looks to me like they are using the House settlement to weed out the poor schools and destroy the Big12 and ACC without the Big10/SEC getting their hands dirty. Then they can swoop in and grab the few wealthy programs left.

I just do not see ISU having enough wealthy donors to fund this level of annual loss. What are the odds that the Board of Regents come to the rescue and find a way to kick in the money that difference that ISU donors can't pickup?

Sukup/Stark/Van Diest may kick some in, but if I remember right the legislature would have to change state law to allow the BOR to support the AD.

 

[harimad]

I think what will happen is what happened in Arizona where the university could help fund the AD. Its insanity if they don't allow that to happen.

No, having students fund the AD is the insanity.

 

[NorthCyd]

I think what will happen is what happened in Arizona where the university could help fund the AD. Its insanity if they don't allow that to happen.

Enrollments are dropping and we aren't exactly in a friendly environment for universities from the government, so I'm not sure this is the answer.

 

[aeroclone]

 

[CycloneT]

It looks to me like they are using the House settlement to weed out the poor schools and destroy the Big12 and ACC without the Big10/SEC getting their hands dirty. Then they can swoop in and grab the few wealthy programs left.

I just do not see ISU having enough wealthy donors to fund this level of annual loss. What are the odds that the Board of Regents come to the rescue and find a way to kick in the money that difference that ISU donors can't pickup?

annual loss??? we have no debt

 

[iowastatefan1929]

Please, 2031, we will be living in an AI dystopia by then.

 

[hoosman]

BOR needs to somehow mitigate the revenue inequality. Make EIU pay more for their own infrastructure and administration.

 

[TitanClone]

Sensational article title about things changing, powers at be figure it out, life goes on

 

[Pope]

Funny how Iowa's revenue stream is significantly larger than Iowa State's, due to the Big 10's enormous media payout, and yet Iowa had to borrow $50 million from their university to get through COVID while Iowa State got through COVID by using money it had in reserve.

It's also noteworthy how ISU has enough money still left in reserve to get through the next 2 years of $20 million/year of direct payment to athletes. That puts us ahead of most other non Big 10/SEC schools across the country. No doubt, Jamie Pollard should receive much of the credit for this.

However, we must come up with a huge boost in revenue within the next 2 years or we'll be in trouble.

I think the best solution is for the state to impose a type of user tax on the sports gambling industry. FanDual, Bet365, and all the other sports books are making millions (billions?) off of wagers made on ISU and Iowa games. It's time they pay a tax to support those institutions which are generating their income.

 

[alarson]

No, having students fund the AD is the insanity.

Yeah, i'd be very much against that happening.

Now, the idea to tax the **** out of gambling and send that to the state university ADs? That i could get behind.

 

[cydnote]

I think it would be hilarious if the BOR announced that the university could not fund the AD, and as the laughter subsides in Iowa City it is announcef that the hoks had to subsidize ISU and UNI from their media rights revenue

 

[Gerbs]

Isn’t that why we are building CyTown?

 

[iowastatefan1929]

U of I better not laugh too hard, dark days are coming for legal and medical field.