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Just posted on Twitter by Jeff. Their athletic department makes Chairman Yao look like a cross between Paul Ryan and Chris Rock's rib joint guy from I'm Gonna Git You Sucka.
Average attendance at Neyland Stadium has dropped to its lowest point since 1979. Photo by: GETTY IMAGES From the window in Dave Harts corner office, the University of Tennessee athletic director can see Neyland Stadium above all else, a fortress along the Tennessee River that instantly iden
This post was edited by gocaps1 18 months ago
LOL at that turd football attendance!
The correlation between funding women's basketball and financial ruin is just undeniable at this point
Have them join the Big 10. They fix everyones athletic budget with the BTN. They'll fit right in too with that 100,000 seat stadium of theirs.
Pat Summitt could probably outcoach Derek Dooley in football.
"And I try to har-mo-nize with songs the lonesome sparrow sings...
There are no kings inside the Gates of Eden."
$130 million in football stadium upgrades that were bought on debt. That's their biggest issue.
As Rick Petino would say,
Peyton Manning isn't walking through that door.
Tee Martin isn't walking through that door.
Phil Fulmer isn't walking through that door. (He wouldn't fit, he's too fat.)
Or 10 years from now.
[Jeff/] Hopefully this won't be a B1G problem for us in the future [Ermann]
Tennessee is the PERFECT out of conference team to schedule for us. We should just replace our Wisconsin series with them.
This post was edited by Hogie 18 months ago
The Pauper Bowl?
You're telling me that they're paying 10% interest? This is a state institution, no? Couldn't they issue some revenue munis at 5% to people looking for triple tax free income? There has to be a reason why they haven't done that yet.
Alerted and ready!
"College athletics wouldn't be possible without a lot of things, but one of those appears to be millions of dollars of debt."
A different context on the Tennessee situation from the SEC blog.
Tennessee is not in good shape, but what about everyone else?
something something debbie yow
as mocoterp alluded to
What was the tab for our suites and upgrades using borrowed money?
The decision to sell dry suites was an incredibly poor call!
So this means we couldn't even be the best at being the biggest broke dick AD in the country? We're finally number 1 in something again (other than comp cheer/field hockey) and Tennessee trumps us.
That's so Maryland.
YELP IS JUST POETRY WITH A STAR RATING, KANSAS FANS
~ $54 million was the gross cost. I think the net borrowings was closer to $40 million as some that $54 was pre-sold and we used some other funds. I have to check.
Long-term debt for a university isn't really all that bad. The articles here are a bit misleading. If you can borrow at 4-5% (the state's debt rating which Maryland uses) it's not terrible. There's a big difference between operating debt and long-term debt.
I do know Tennessee has been throwing all kinds of money at non-rev sports. A friend of my daughter's is going there on a full soccer ride. They apparently have incredible facitlies for non-rev sports.
The Begging Bowl!
I'm sure donations have plummeted because their football team hasn't been relevant in a while, and their coaches haven't been the types you want financially get behind. That's probably what got them in this mess. ADs spend money like the high times will last forever.
Business decisions based on personal morality are always wrong.
This post was edited by bkmalik 18 months ago
...brought to you by Cashnow.
To answer this old post, yes. Brian Pensky left Maryland about a year ago to become the head coach at Tennessee, IIRC they offered him some good money and resources for the program. That was a tough loss.
"Maryland football: Where everybody gets hurt and the starting left tackle has an existential crisis."
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