Not to be a Debbie Downer, but UC has:
A new football coach that will most likely be paid more than Butch Jones was. I suppose there is also a buyout for Tuberville.
A crumbling league, and therefore, a crumbling tv contract. As many suspected, the basketball side of the league is crumbling as well. UC will most likely make much less from any tv contract than what they were making.
Plans to upgrade facilities - unknown what they are and how much, but will probably be tens of millions of dollars at the very least.
I've been whining about/hoping UC would make some changes to Nippert and 5/3, but I knew money was, and is, a big issue. I hope Santa and Whit know something that we don't.
My guess is that this is all a gamble to get into a better league with more TV contract money. If that happens, maybe the problem fixes itself. If UC doesn't get into a better conference, they might have dug themselves into a hole.
Again, this is just my speculation.
Here's your primary targets for money to finance all of this....from wikipedia:
Altogether, nine Fortune 500 companies and fifteen Fortune 1000 companies are headquartered in the Cincinnati area. With nine Fortune 500 company headquarters in Cincinnati, the region ranks in the nation's Top 10 markets for number of Fortune 500 headquarters per million residents, higher than New York, Boston, Chicago or Los Angeles.[56] In addition to Fortune 500 headquarters, more than 360 Fortune 500 companies maintain operations in Cincinnati.[57] Cincinnati has three Fortune Global 500 companies; three of the five Global 500 companies in the state of Ohio
We all do.
Money is not the problem There is money everywhere. The question is how do we get us some? I think we will soon find out how that is going to happen.
Somewhat related, I just wonder if showing a plan (that will actually happen) for improving our football facility was some homework given by one of the Big 4 conferences.
Keep your chins up. We are on a roll.
(12-11-2012 07:24 AM)bearcatfan Wrote: [ -> ]Not to be a Debbie Downer, but UC has:
A new football coach that will most likely be paid more than Butch Jones was. I suppose there is also a buyout for Tuberville.
A crumbling league, and therefore, a crumbling tv contract. As many suspected, the basketball side of the league is crumbling as well. UC will most likely make much less from any tv contract than what they were making.
Plans to upgrade facilities - unknown what they are and how much, but will probably be tens of millions of dollars at the very least.
I've been whining about/hoping UC would make some changes to Nippert and 5/3, but I knew money was, and is, a big issue. I hope Santa and Whit know something that we don't.
While I believe your question is valid I disagree on two points. While the new TV deal will likely be less than previously hoped, I'm betting it's still more than the current Big East deal with ESPN. The demand for programming from these cable sports competitors hasn't diminished.
I also disagree about the basketball side crumbling. What's the next best alternative for Marquette, Georgetown and company? Big East basketball schools will still earn a seven figure payout in the new TV deal. For comparison, A-10 members get a six figure share and don't enjoy the exposure and prestige the Big East commands with the MSG tourney, multiple ranked teams each year and new members Memphis and Temple that bring a strong national reputation. The new BE won't be the number one basketball league anymore but it will likely be among the top 3-4 every season in the mix with the ACC, B10, B12, SEC and P12.
(12-11-2012 07:51 AM)nachoman91 Wrote: [ -> ]Here's your primary targets for money to finance all of this....from wikipedia:
Altogether, nine Fortune 500 companies and fifteen Fortune 1000 companies are headquartered in the Cincinnati area. With nine Fortune 500 company headquarters in Cincinnati, the region ranks in the nation's Top 10 markets for number of Fortune 500 headquarters per million residents, higher than New York, Boston, Chicago or Los Angeles.[56] In addition to Fortune 500 headquarters, more than 360 Fortune 500 companies maintain operations in Cincinnati.[57] Cincinnati has three Fortune Global 500 companies; three of the five Global 500 companies in the state of Ohio
I agree with the point that there is a lot of corporate wealth in the city, especially for its size. The problem has been pointed out in a thousand other threads, though. Most of those corporations already give to UC in some capacity. Those that don't, give to other local universities, namely Xavier and Miami (Cintas being a big example, which has given to both). And finally, Cincinnati has a very generous donor base for the arts and various non-profits.
There is a lot of money in Cincinnati. But it isn't just sitting around, untapped.
In talking to a few people who have worked in the athletic department in the past and are somewhat connected to it now the theme seems to be the money has always been there. The problem has been convincing the right people they need to spend it. There has been a MAC mentality for years, trying to compete at the highest level while not spending like those programs do. Winning only helps that thought process, makes people think b/c theyre winning they dont need to spend more. Bob Goin showed varsity village was needed to advance to the BE and it was built, sure there is still a lot of debt but its a great facility. I think they finally have 2 people in charge who realize the importance and are also able to convey that message to the BOT and the fans/donors/community. The Mike Thomas era/Nancy mess continues to hang over the athletic dept. and hopefully the hoops team success and the Tuberville hiring will help get people excited and allow Ono and Whit to dig us out and elevate the program to where it needs to be.
I hear that Whit has been on the phones soliciting donations from local Fortune 500 companies. The type of stuff his predecessor never did (largely why we're in this financial mess IMO).
I also hear that he's been pretty successful. But I'm guessing that the CEOs don't exactly want to advertise that they're essentially taking their stockholders' money and funelling it to their alma matter/local sports teams. So he'll reveal it at the appropriate time, presumably when the expansion plan is announced.
(12-11-2012 07:49 AM)Bourgeois_Rage Wrote: [ -> ]My guess is that this is all a gamble to get into a better league with more TV contract money. If that happens, maybe the problem fixes itself. If UC doesn't get into a better conference, they might have dug themselves into a hole.
Again, this is just my speculation.
This.
Consider this: we've been waiting for years for the university to financially commit to the football program. Committing to be a big-time football school is a financially risky move in the short-run, but it will pay off big-time if it works.
It's finally happened. We should be rejoicing.
(12-11-2012 10:53 AM)Captain Bearcat Wrote: [ -> ]I hear that Whit has been on the phones soliciting donations from local Fortune 500 companies. The type of stuff his predecessor never did (largely why we're in this financial mess IMO).
I also hear that he's been pretty successful. But I'm guessing that the CEOs don't exactly want to advertise that they're essentially taking their stockholders' money and funelling it to their alma matter/local sports teams. So he'll reveal it at the appropriate time, presumably when the expansion plan is announced.
Whit was brought in with a reputation as a great fundraiser. I expect nothing less of him. Good to hear that its paying early dividends.
(12-11-2012 10:56 AM)Captain Bearcat Wrote: [ -> ] (12-11-2012 07:49 AM)Bourgeois_Rage Wrote: [ -> ]My guess is that this is all a gamble to get into a better league with more TV contract money. If that happens, maybe the problem fixes itself. If UC doesn't get into a better conference, they might have dug themselves into a hole.
Again, this is just my speculation.
This.
Consider this: we've been waiting for years for the university to financially commit to the football program. Committing to be a big-time football school is a financially risky move in the short-run, but it will pay off big-time if it works.
It's finally happened. We should be rejoicing.
Agree with both of you. This is excellent news that the president and athletic department are making such a commitment to football. I guess we'll find out this morning if the BOT will show the kind of commitment as they are.
I think it's encouraging that amid the crumbling Big East, the movers and shakers at Cincinnati doing what they can to ensure UC will have top-notch facilities and they don't care if they'll be in the ACC/Big-12 or not. Of course I also agree that they are banking on an invitation in the near future and collecting media money to help pay for the renovations but the fact that their going all-in is reason enough for us to back their decision.
(12-11-2012 11:09 AM)cinbinsportsfan Wrote: [ -> ] (12-11-2012 10:56 AM)Captain Bearcat Wrote: [ -> ] (12-11-2012 07:49 AM)Bourgeois_Rage Wrote: [ -> ]My guess is that this is all a gamble to get into a better league with more TV contract money. If that happens, maybe the problem fixes itself. If UC doesn't get into a better conference, they might have dug themselves into a hole.
Again, this is just my speculation.
This.
Consider this: we've been waiting for years for the university to financially commit to the football program. Committing to be a big-time football school is a financially risky move in the short-run, but it will pay off big-time if it works.
It's finally happened. We should be rejoicing.
Agree with both of you. This is excellent news that the president and athletic department are making such a commitment to football. I guess we'll find out this morning if the BOT will show the kind of commitment as they are.
I think it's encouraging that amid the crumbling Big East, the movers and shakers at Cincinnati doing what they can to ensure UC will have top-notch facilities and they don't care if they'll be in the ACC/Big-12 or not. Of course I also agree that they are banking on an invitation in the near future and collecting media money to help pay for the renovations but the fact that their going all-in is reason enough for us to back their decision.
I suspect they were told "you're not there yet," but they were also given a road map on how to get there. That plan now seems to be in action.
(12-11-2012 11:13 AM)MickMack Wrote: [ -> ] (12-11-2012 11:09 AM)cinbinsportsfan Wrote: [ -> ] (12-11-2012 10:56 AM)Captain Bearcat Wrote: [ -> ] (12-11-2012 07:49 AM)Bourgeois_Rage Wrote: [ -> ]My guess is that this is all a gamble to get into a better league with more TV contract money. If that happens, maybe the problem fixes itself. If UC doesn't get into a better conference, they might have dug themselves into a hole.
Again, this is just my speculation.
This.
Consider this: we've been waiting for years for the university to financially commit to the football program. Committing to be a big-time football school is a financially risky move in the short-run, but it will pay off big-time if it works.
It's finally happened. We should be rejoicing.
Agree with both of you. This is excellent news that the president and athletic department are making such a commitment to football. I guess we'll find out this morning if the BOT will show the kind of commitment as they are.
I think it's encouraging that amid the crumbling Big East, the movers and shakers at Cincinnati doing what they can to ensure UC will have top-notch facilities and they don't care if they'll be in the ACC/Big-12 or not. Of course I also agree that they are banking on an invitation in the near future and collecting media money to help pay for the renovations but the fact that their going all-in is reason enough for us to back their decision.
I suspect they were told "you're not there yet," but they were also given a road map on how to get there. That plan now seems to be in action.
Yea good point. But there's always a risk investing so much money without having an invitation in writing. That's why I'm so impressed with Ono/Babcock through all of this.
When are the BoT's meeting minutes usually posted? Better question - when do the meetings usually end/reports start coming out?
We got 1.5 million buyout for Lyle Jones leaving and we didn't have to pay his 300K retention amount. We should be signing a TV contract within the next six months, as deflated as it may seem, it will be boost to all bottom lines in the conference. We also get about 1.7 million from the Belk Bowl, not sure what that looks like after expenses.
(12-11-2012 02:25 PM)Vewb1 Wrote: [ -> ]We got 1.5 million buyout for Lyle Jones leaving and we didn't have to pay his 300K retention amount. We should be signing a TV contract within the next six months, as deflated as it may seem, it will be boost to all bottom lines in the conference. We also get about 1.7 million from the Belk Bowl, not sure what that looks like after expenses.
$900k of that buyout will likely go to pay for Tuberville's buyout at Texas Tech.
There is no guarantee that the new TV contract will be more, and could be less, than what we are currently getting.
We will be lucky to break even on the bowl trip.
(12-11-2012 02:25 PM)Vewb1 Wrote: [ -> ]We got 1.5 million buyout for Lyle Jones leaving and we didn't have to pay his 300K retention amount. We should be signing a TV contract within the next six months, as deflated as it may seem, it will be boost to all bottom lines in the conference. We also get about 1.7 million from the Belk Bowl, not sure what that looks like after expenses.
The bowl game will be next to nothing after expenses. Rarely do teams profit on that deal. When you consider the odds of us selling out our allotment to be next to nil we will be lucky not to be in the whole in regards to the bowl revenue.
Reports are our new TV deal will be even to the prior deal to possibly being a loss. WIth the news that the basketball schools are lucky to break off that might make it even worse.
The buyout will help but only be enough to pay for 1/2 of Tuberville's salary for one year.
No way TV deal is less, not for the all sports schools.
(12-11-2012 08:43 PM)bearcatlawjd Wrote: [ -> ]No way TV deal is less, not for the all sports schools.
I wouldn't be so sure about that.