Tulsa's not long for the conference.
Quote:"Unfortunately, as you know, we had long-standing budgetary challenges before, which have been exacerbated. We now need to stand together and support TU, just as we have stood together and prioritized the protection of our community's well-being and health."
In January, the TU Board of Trustees acknowledged that the school has operated in the red each of the past seven years and recently received a significant downgrade in its credit rating. They established a goal to close a $14 million to $20 million budget gap over the next three years.
Link:
https://www.tulsaworld.com/news/local/ed...user-share
They have an endowment over $1B. How does that happen?
(04-16-2020 10:49 PM)JHG722 Wrote: [ -> ]They have an endowment over $1B. How does that happen?
Endowment isn’t used for athletics.
(04-16-2020 10:50 PM)BraveKnight Wrote: [ -> ] (04-16-2020 10:49 PM)JHG722 Wrote: [ -> ]They have an endowment over $1B. How does that happen?
Endowment isn’t used for athletics.
The endowment was my first thought. They clearly don’t want to go down the road of opening that to athletics, nor should they. The article doesn’t say that the budget being that far in the red is just athletics although the timeline for it is the last 7 years...
(04-16-2020 10:56 PM)MidknightWhiskey Wrote: [ -> ] (04-16-2020 10:50 PM)BraveKnight Wrote: [ -> ] (04-16-2020 10:49 PM)JHG722 Wrote: [ -> ]They have an endowment over $1B. How does that happen?
Endowment isn’t used for athletics.
The endowment was my first thought. They clearly don’t want to go down the road of opening that to athletics, nor should they. The article doesn’t say that the budget being that far in the red is just athletics although the timeline for it is the last 7 years...
Yeah a 7 year deficit is definitely not good, especially for a school like Tulsa with a small enrollment and not a big athletic department.
No way Tulsa athletics survives of they there is no football this year.
Sent from the warp via the ruinous powers of chaos.
(04-16-2020 10:50 PM)BraveKnight Wrote: [ -> ] (04-16-2020 10:49 PM)JHG722 Wrote: [ -> ]They have an endowment over $1B. How does that happen?
Endowment isn’t used for athletics.
That deficit wasn’t the athletic department, it was the whole school...
With Tulsa course correcting, will espn allow the AAC to keep their share the same way they appear to be letting us keep UCONNS'.
(04-16-2020 11:13 PM)stxrunner Wrote: [ -> ] (04-16-2020 10:50 PM)BraveKnight Wrote: [ -> ] (04-16-2020 10:49 PM)JHG722 Wrote: [ -> ]They have an endowment over $1B. How does that happen?
Endowment isn’t used for athletics.
That deficit wasn’t the athletic department, it was the whole school...
Oh I didn’t catch that. That’s even worse
(04-16-2020 11:13 PM)stxrunner Wrote: [ -> ] (04-16-2020 10:50 PM)BraveKnight Wrote: [ -> ] (04-16-2020 10:49 PM)JHG722 Wrote: [ -> ]They have an endowment over $1B. How does that happen?
Endowment isn’t used for athletics.
That deficit wasn’t the athletic department, it was the whole school...
Yes, but is it just a coincidence that they started running a deficit 7 years ago? They were invited to the conference 7 years ago and their deficit has obviously grown since then to be at that amount. The timeline makes to much since for it to be coincidental.
(04-16-2020 11:37 PM)MidknightWhiskey Wrote: [ -> ] (04-16-2020 11:13 PM)stxrunner Wrote: [ -> ] (04-16-2020 10:50 PM)BraveKnight Wrote: [ -> ] (04-16-2020 10:49 PM)JHG722 Wrote: [ -> ]They have an endowment over $1B. How does that happen?
Endowment isn’t used for athletics.
That deficit wasn’t the athletic department, it was the whole school...
Yes, but is it just a coincidence that they started running a deficit 7 years ago? They were invited to the conference 7 years ago and their deficit has obviously grown since then to be at that amount. The timeline makes to much since for it to be coincidental.
Maybe Tulsa bit off more than they could chew and are now realizing that this is not the level that such a small non p5 school should be striving for in this p5/g5 climate.
Truth be told, a lot of schools will have no choice but to make these tough decisions this year. Furloughs, academic/athletic budget cuts, reduction in administrative, academic and athletic salaries, borrowing of money, etc.
(04-17-2020 04:45 AM)CliftonAve Wrote: [ -> ]Truth be told, a lot of schools will have no choice but to make these tough decisions this year. Furloughs, academic/athletic budget cuts, reduction in administrative, academic and athletic salaries, borrowing of money, etc.
Not all bad. A lot if not all schools need to be more efficient anyways.
Kick out Tulsa. Add UCONN.
(04-16-2020 11:44 PM)Tigersmoke4 Wrote: [ -> ] (04-16-2020 11:37 PM)MidknightWhiskey Wrote: [ -> ] (04-16-2020 11:13 PM)stxrunner Wrote: [ -> ] (04-16-2020 10:50 PM)BraveKnight Wrote: [ -> ] (04-16-2020 10:49 PM)JHG722 Wrote: [ -> ]They have an endowment over $1B. How does that happen?
Endowment isn’t used for athletics.
That deficit wasn’t the athletic department, it was the whole school...
Yes, but is it just a coincidence that they started running a deficit 7 years ago? They were invited to the conference 7 years ago and their deficit has obviously grown since then to be at that amount. The timeline makes to much since for it to be coincidental.
Maybe Tulsa bit off more than they could chew and are now realizing that this is not the level that such a small non p5 school should be striving for in this p5/g5 climate.
The current deficit has little to do with athletics. Especially once the ESPN money comes in. I think the athletic department will be virtually self sustaining at that point. The university isn't giving enough money to athletics right now for it to be the problem
One big problem is the university built a lot of new buildings/ renovations the last 15 years and racked up a lot of debt from that despite donations. Poor financial stewardship is what our problem is.
The school started a course correction last year and cut a lot of majors with low participation levels in order to save money. The correction is intended to be complete in the next 2-3 years.
(04-17-2020 04:45 AM)CliftonAve Wrote: [ -> ]Truth be told, a lot of schools will have no choice but to make these tough decisions this year. Furloughs, academic/athletic budget cuts, reduction in administrative, academic and athletic salaries, borrowing of money, etc.
Baylor announced $80,000,000 in cuts and they halted work on their new basketball arena.
(04-17-2020 07:28 AM)Pony94 Wrote: [ -> ] (04-17-2020 04:45 AM)CliftonAve Wrote: [ -> ]Truth be told, a lot of schools will have no choice but to make these tough decisions this year. Furloughs, academic/athletic budget cuts, reduction in administrative, academic and athletic salaries, borrowing of money, etc.
Baylor announced $80,000,000 in cuts and they halted work on their new basketball arena.
Toledo just announced a need to balance at least $41,000,000 in the next two years.
It's going to hit everyone, and hit them VERY hard.
(04-17-2020 05:17 AM)HuskyU Wrote: [ -> ]Kick out Tulsa. Add UCONN.
Actually, Tulsa leaving along with UConn would work out perfectly as we would now have a 10 team conference in football and basketball. No more issues trying to replace UConn. If BYU and Boise State want to come along as football only members great! If not, stand pat.
UCF
USF
ECU
Temple
Navy/Wichita State
Cincinnati
Memphis
Tulane
Houston
SMU