Athletic Department debt
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Athletic Department debt
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This right here shows how unbelievable the support for Nebraska football is. We've sucked ass for 20 years and just added a $165 million dollar upgrade. Done with no debt accumulated. Unreal.
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Nebraska $0
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DOUBLE CORNHUSKER HONOR ROLL:
Give kudos to Nebraska: They are the ONLY public FBS athletic dept with NO subsidy from the school, and NO athletic debt. That's pretty impressive, Cornhusker friends!
Give kudos to Nebraska: They are the ONLY public FBS athletic dept with NO subsidy from the school, and NO athletic debt. That's pretty impressive, Cornhusker friends!
SoCal_Corn
Quarterback
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Here's the SDSU Spaztec Debt in Time Lapse form
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As fucked up as we have been from top to bottom, It's a miracle we aren't swimming in debt. Imagine if Buffet cared about football? Blows my mind that we are fiscally sound. Adjusted for inflation and current climate, that $165 million upgrade would probably cost close to $230 million now.
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I read back when all that came out that Cal’s investment was because their stadium is over a fault line so… not cheap.
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Some of this debt is unreal.
As bad as some of our ADs have been at some important portions of their job, having this much turnover in ADs and carrying no debt at all is pretty incredible.
As bad as some of our ADs have been at some important portions of their job, having this much turnover in ADs and carrying no debt at all is pretty incredible.
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Not in the top (bottom) 20 apparently
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I think their biggest problem is after this season, their Football TV revenue drops from something like $34M in the PAC12 to an estimated $4M if they join the WAC.
Really, really hard to service the debt on that stadium note with that kind of kick to the wallet if you’re an AD.
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they are in the tweet OP linked. $152 million in debt for a program that no longer has a P5 level media rights contract. I also recently saw a breakdown of AD revenues not counting media contracts, which had Wazzu and Oregon st as the 2 lowest in the P5
so they are pretty fucked
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Does anyone know what Michigan's debt is from? A stadium project I'd assume?
Amazing they have that much debt w the amount of wealthy donors they have.
Amazing they have that much debt w the amount of wealthy donors they have.
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I assume any blue blood with big amounts of debt did it purposefully. That debt would have been from a time when interest rates were at historic lows so it wouldn't really make sense to pay everything up front
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A&M is the one that surprised me from that list.
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A look at UM's financials shows that its athletics debt stems from spending on new venues and renovations such as expansion of Michigan Stadium and construction of the football team's Al Glick Field House. Millions more are owed for interest.
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They hrew a half billion into their stadium 10-12 years ago.
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#1 difference between a business brain and the “use cash for everything and be Debt free like Dave Ramsey told me” is the basic lack of understanding that not all debt is bad combined with the time value of money.
Let’s say hypothetically $150 million of Michigan’s debt started between 2016-2021 and let’s say the average interest on that debt is 3.5%.
vs.
trying to do a similar project but without incurring debt means plundering cash accounts or reducing the size/price of the project
PS: much like our Unicameral and splitting of electoral votes, Nebraska is a unicorn albeit with lots of room for improvement or: “mid” as the kids say.
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