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I'm suprised there has been no discussion on ESPN's report from Darren Rovell. Not sure his sources or specifically how he did his math but he paints a bleak picture. Perhaps this is why so many scoffed at the coaching vacancy last month. I recall hearing our reserves were low and the balance sheet was upside down . . but not to the tune of $200MM.
Wes . . I'd have thought this would have come up during your one-on-one last month. Do you think the figures are legit?
Member of Les Trucker's Top 5 VFL Club
We've always had a lot of debt, this is not new. UT is about to ask the state and City of Knoxville to reduce some excessive taxes and fees which triggered this story. Sadly this will be used against us on the recruiting scene.
Not surprising given all of the improvements and construction. Not too worried about it, and its not nearly as big a deal as these clowns are making it out to be.
Who would release this kind of info right before NSD? Maybe it's not as big a deal as it looks but no I am sure it will be used. It seems we have some of the biggest idiots over there.
This post was edited by LocoVol 15 months ago
Saying we are in debt doesn't mean much...could be obvious reasons, could be ominous reasons. Would need to see some financial statements and get all up in there to see whats going on
A couple of years ago or so Tennessee was listed as one of 13 schools in the country who's football program was in the black......(does anyone remember when this list came out?) It is possible to show debt on the balance sheet and still operate in the black (income statement)
Just last year Forbes listed Tennessee in the top 10 -20(?) of Football programs in terms of financial value.....
now this story comes out.....
right in the heat of recruiting season...... Hummmmmmmmm
This post has been edited 3 times, most recently by GoneCoastalVol 15 months ago
The Rovell is getting his numbers from a Sports Business Journal article. These number are alarming and it is a very big deal. Our total revenues are down to 96 million from a high of 115 million in 2009. We cannot sustain that trajectory. Butch has to turn it around.
It all boils down to the win/loss record.....If you win, the dollars will come.
I'd disagree with the 'no big deal, nothing new here move along' sentiment. I don't recall anyone putting a figure on just how far in the red the department currently sits. I can't help but think this impacted our coaching search negatively last month and am suprised that local media has not spent more time investigating and reporting on this.
I did not have a chance to chime in on Rex's thread regarding giving money to the Tennessee Fund but I would counter that the big time donors are in a way the enablers to this financial mess. If you are going to cut large checks then make sure the stewards of this money within the AD are not completely inept! Crazy payouts to Dooley's staff . . ludicrous contracts for a completely unproven Butch Jones staff (#45 currently in Rivals 2013 recruiting rankings) . . folks, this is dumb money at work.
Alabama is 208 million in debt, it is no big deal.
Backed up by this story....
The financial health of University of Tennessee athletics looks grim on paper: $200 million in debt. A 2012 season that saw the worst football attenda
The debt by itself is not a huge deal. The combination of the heavy debt load and rapidly declining revenues and virtually no reserves is a very big deal. Alabama, LSU, and UGA all have very healthy revenue and reserves, we don't. It all boils down to turning football around. Butch does that then we have nothing to worry about. If the next 5 years are like the last 5 years then we are in deep, deep trouble.
Exactly. As several of us have said, all we need to do to fix this is win and fill seats.
Thanks for the link . . I had not seen this story and helps put things in perspective. We got a lot riding on Coach Jones.
Yes sir. When you are talking about the need to generate that many dollars, it makes this coaching hire probably the most important in UT history. I feel confident, however, that the economy turning around, and the new TV contract, will help a lot.
Hart will have to keep Cheek at bay, though. I doubt that a three year reprieve on the contribution to academics will be enough.
To me, the debt issue is secondary to operating at a loss.
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