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Topic:  even the biggies have money problems...

Topic:  even the biggies have money problems...
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brucecuth
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Member Since: 12/21/2004
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  Message Not Read  even the biggies have money problems...
   Posted: 7/22/2011 7:44:20 PM 
this is from espn's college basketball blog, and deals with money problems at the University of Maryland athletic department...

According to a story in the Washington Post this week, Maryland's athletic department has long balanced its budget at the end of each fiscal year by "utilizing fundraising revenue kept in independent foundation accounts to pay for expenses." Lately, however, the money in those foundation accounts has failed to keep pace with expenses. Maryland, it seems, is in the red. (No Maryland flag puns intended.)

That situation prompted university president Wallace D. Loh to announce the formation of a 17-member commission designed to help the athletic department solve its financial issues. And there are myriad issues at work. WaPo has a bevy of dire-sounding statistics:
Revenues for both [men's basketball and football] has either stagnated or declined over the past six years, according to financial documents the athletic department filed to the NCAA. Season ticket sales have declined in both sports, department officials have said. At the same time, the athletic department over the past decade made several improvements to facilities used by revenue and non-revenue generating sports. Two of those projects — a new basketball arena and major renovations to the football stadium — largely contribute to the department’s debt, which currently exceeds $83 million.

Additionally, according to financial reports, the athletic department lost more than $64 million from 2005 to 2010 on the 24 sports other than football and men’s and women’s basketball. The athletic department lost more than $13 million in the fiscal year 2009-10 — the most recent report available — on those 24 sports.

In April, Maryland Athletic Director Kevin Anderson said in the past two to three years, the school’s athletic department has lost between 2,000 and 3,000 donors, adding to the department’s financial problems.

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Ohio69
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  Message Not Read  RE: even the biggies have money problems...
   Posted: 7/22/2011 9:25:00 PM 

Wonder how many sports they'll cut?


Can somebody hit a pull up jumper for me?.....

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TWT
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Location: Alexandria, VA
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  Message Not Read  RE: even the biggies have money problems...
   Posted: 7/22/2011 11:48:38 PM 
There is an Ohio alum that I talked to working for the Maryland Athletic Department back around 2005. He said that football season ticket sales had doubled from 17,000 to 38,000 between 1998 and 2004. The school at that time had the double effect of peak success in basketball and men's football at a time when the economy was doing terrific. Like other risnig BCS schools (Rutgers another good example) of that era they thought success made them invincible leading to unlimited future revenue growh. Ohio fortunately never escalated the arms race. The budget issues here are miniscule in comparison.


Most Memorable Bobcat Events Attended
2010 97-83 win over Georgetown in NCAA 1st round
2012 45-13 victory over ULM in the Independence Bowl
2015 34-3 drubbing of Miami @ Peden front of 25,086

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BattleCat
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  Message Not Read  RE: even the biggies have money problems...
   Posted: 7/24/2011 7:31:59 PM 
Chalk up 2 million plus on their buyout of the football coach. Those types of decisions eat up a good chunk of revenue.
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OUVan
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Location: Bethesda, MD
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  Message Not Read  RE: even the biggies have money problems...
   Posted: 7/25/2011 12:44:44 PM 
Uncle Wes wrote:
There is an Ohio alum that I talked to working for the Maryland Athletic Department back around 2005. He said that football season ticket sales had doubled from 17,000 to 38,000 between 1998 and 2004. The school at that time had the double effect of peak success in basketball and men's football at a time when the economy was doing terrific. Like other risnig BCS schools (Rutgers another good example) of that era they thought success made them invincible leading to unlimited future revenue growh. Ohio fortunately never escalated the arms race. The budget issues here are miniscule in comparison.


That's what you get when you have an AD that battles the money making programs at the expense of pet projects.  Instead of putting the other programs on the backs of football and basketball Yow undercut them at every turn.  But hey, the field hockey and cheer squads are doing great!!!
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colobobcat66
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  Message Not Read  RE: even the biggies have money problems...
   Posted: 7/28/2011 2:55:57 PM 
I wish we had their problems.  Losing 2000-3000- donors, you got to be kidding me, that's more than we have total.
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BOB&BEARCAT
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Member Since: 1/28/2006
Location: CINCINNATI, OH
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  Message Not Read  RE: even the biggies have money problems...
   Posted: 7/28/2011 7:34:03 PM 

I was at the Maryland Game when we beat them in Football.
Are there any other Bobcatattackers that were at the game ? 

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OhioCatFan
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Location: Athens, OH
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  Message Not Read  RE: even the biggies have money problems...
   Posted: 7/28/2011 9:34:12 PM 
My wife and I were there.  Two friends of ours where there with us.  This same couple also attended the Ohio crushing of Kentucky 35-6 back in 1971 with us.  I've often joked that any time Frank wants to win a big game against a BCS school he should pay for this quartet to go to the game and victory would be OHIO's for sure. 

Last Edited: 7/28/2011 9:35:19 PM by OhioCatFan


The only BLSS Certified Hypocrite on BA

"It is better to be an optimist and be proven a fool than to be a pessimist and be proven right."

Note: My avatar is the national colors of the 78th Ohio Veteran Volunteer Infantry, which are now preserved in a climate controlled vault at the Ohio History Connection. Learn more about the old 78th at: http://www.78ohio.org

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OUVan
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  Message Not Read  RE: even the biggies have money problems...
   Posted: 7/29/2011 1:29:28 PM 
OhioCatFan wrote:
My wife and I were there.  Two friends of ours where there with us.  This same couple also attended the Ohio crushing of Kentucky 35-6 back in 1971 with us.  I've often joked that any time Frank wants to win a big game against a BCS school he should pay for this quartet to go to the game and victory would be OHIO's for sure. 


I was at both the football and basketball wins at Maryland.  The only time I've ever rooted against the Terps.
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