University of Michigan athletic Dept 240 MILLION in debt

[PorterRockwell]

https://www.yahoo.com/sports/video/michigan-athletic-department-240-million-001420973.html

[ironman1315]

Holy s**t. That school needs an audit and I mean that unironically.

[PorterRockwell]

something certainly doesn’t seem right with that situation.  Makes me appreciate Chris Hill even more.  Don’t know if you saw the article I linked a few days ago about his career path but it’s a great read.

[ironman1315]

Seriously though, whatever problems at Utah exist are small potatoes to this garbage.

[Tony (admin)]

Mind boggling. And the girl with the strange eyebrows’ solution is to eliminate 3 assistants who are paid $1 million each over 3 years? Um, $240,000,000 – $9,000,000 = $231,000,000. Um, kay.

[PDXUteFan]

The “don’t have satellite camps” thought was pretty stupid as well, $334,000 for 40 camps, so ya cut those camps and in ohhhhh, about 80 years you’ll have saved $240,000,000. Genius idea there. How about don’t spend $200+ Million on football stadium renovations. How much have they spent on athletic facilities in the last 10 years? 

 

Coaching contracts have gotten absurd over the last 5 years in college athletics, no doubt, but you don’t go a quarter billion in debt by spending a few million on football coaches. 

[PDXUteFan]

Also, fwiw the average ticket to a UM football game is $65, 112,000 seats in that stadium so a single game generates over $7 million in tickets sales alone. You figure they make at least $45 Million a year in ticket sales, it’s not so hard to see them covering that debt pretty easily over 10 years. 

[Tony (admin)]

Not to mention ads and of course their version of crimson club, whatever that is.

[mokus]

Except that they already made that money last year and they are still where they are. It doesn’t add up.

[Anonymous]

Someone forgot to tell her that a mini skirt is not becoming on her.