Report: Tennessee athletic department battling huge debt

Quote:According to a Sports Business Journal report, the Tennessee athletic department is in a financial mess that would make politicians in Washington, D.C., blush:

After staggering to losing football seasons in four of the last five years and seeing attendance drop to levels last seen in the 1970s, the Vols find themselves mired in more than $200 million of debt, the most in the SEC, with reserves of just $1.95 million, the least in the conference.

Much of the blame can be pinned on former Volunteers athletic director Mike Hamilton, whose nine-year tenure saw the once-pround Tennessee football program submerge into the SEC's bottom half. A series of bad coaching hires and subsequent buyouts across the major revenue sports also played a factor in the rising debt, not to mention a frenzy of spending on capital projects.

(01-28-2013 10:00 PM)mairving Wrote:  Report: Tennessee athletic department battling huge debt

Quote:According to a Sports Business Journal report, the Tennessee athletic department is in a financial mess that would make politicians in Washington, D.C., blush:

After staggering to losing football seasons in four of the last five years and seeing attendance drop to levels last seen in the 1970s, the Vols find themselves mired in more than $200 million of debt, the most in the SEC, with reserves of just $1.95 million, the least in the conference.

Much of the blame can be pinned on former Volunteers athletic director Mike Hamilton, whose nine-year tenure saw the once-pround Tennessee football program submerge into the SEC's bottom half. A series of bad coaching hires and subsequent buyouts across the major revenue sports also played a factor in the rising debt, not to mention a frenzy of spending on capital projects.

How the mightly have fallen into the toilet.

(01-28-2013 10:00 PM)mairving Wrote:  Report: Tennessee athletic department battling huge debt

Quote:According to a Sports Business Journal report, the Tennessee athletic department is in a financial mess that would make politicians in Washington, D.C., blush:

After staggering to losing football seasons in four of the last five years and seeing attendance drop to levels last seen in the 1970s, the Vols find themselves mired in more than $200 million of debt, the most in the SEC, with reserves of just $1.95 million, the least in the conference.

Much of the blame can be pinned on former Volunteers athletic director Mike Hamilton, whose nine-year tenure saw the once-pround Tennessee football program submerge into the SEC's bottom half. A series of bad coaching hires and subsequent buyouts across the major revenue sports also played a factor in the rising debt, not to mention a frenzy of spending on capital projects.

:homer:

How could this be with BCS money? Do the players need to take a cut in pay?

(01-28-2013 10:00 PM)mairving Wrote:  Report: Tennessee athletic department battling huge debt

Quote:According to a Sports Business Journal report, the Tennessee athletic department is in a financial mess that would make politicians in Washington, D.C., blush:

After staggering to losing football seasons in four of the last five years and seeing attendance drop to levels last seen in the 1970s, the Vols find themselves mired in more than $200 million of debt, the most in the SEC, with reserves of just $1.95 million, the least in the conference.

Much of the blame can be pinned on former Volunteers athletic director Mike Hamilton, whose nine-year tenure saw the once-pround Tennessee football program submerge into the SEC's bottom half. A series of bad coaching hires and subsequent buyouts across the major revenue sports also played a factor in the rising debt, not to mention a frenzy of spending on capital projects.

You used OUR?????? but you reference UtK stuff or did I miss something.

I smell a taxpayer bailout on the way. If Memphis or MTSU had a massive athletics deficit, our state legislators would tell those two to take a hike. We all know UTK will be taken care of.

(01-28-2013 10:29 PM)U of M/ND fan Wrote:  

(01-28-2013 10:00 PM)mairving Wrote:  Report: Tennessee athletic department battling huge debt

Quote:According to a Sports Business Journal report, the Tennessee athletic department is in a financial mess that would make politicians in Washington, D.C., blush:

After staggering to losing football seasons in four of the last five years and seeing attendance drop to levels last seen in the 1970s, the Vols find themselves mired in more than $200 million of debt, the most in the SEC, with reserves of just $1.95 million, the least in the conference.

Much of the blame can be pinned on former Volunteers athletic director Mike Hamilton, whose nine-year tenure saw the once-pround Tennessee football program submerge into the SEC's bottom half. A series of bad coaching hires and subsequent buyouts across the major revenue sports also played a factor in the rising debt, not to mention a frenzy of spending on capital projects.

You used OUR?????? but you reference UtK stuff or did I miss something.

When major schools are dirty, Towson St. gets punished. When UTK overspends, we get cut.

(01-28-2013 10:29 PM)U of M/ND fan Wrote:  You used OUR?????? but you reference UtK stuff or did I miss something.

I assumed he meant the state will cut other schools' budgets in order to have more to give the viles.

Damn, I thought they were rolling in the dough up there. Still paying Fulmer and Pearl I suppose.

(01-28-2013 11:05 PM)Stanley_H Wrote:  Damn, I thought they were rolling in the dough up there. Still paying Fulmer and Pearl I suppose.

2 posts isn't a record, but it's close.

must be that new math that they teach up on that hill

States should get a hold of the money spent by state schools on athletics.

(01-28-2013 11:07 PM)TigerBill Wrote:  

(01-28-2013 11:05 PM)Stanley_H Wrote:  Damn, I thought they were rolling in the dough up there. Still paying Fulmer and Pearl I suppose.

2 posts isn't a record, but it's close.

The other one must have been a doozy!

tough breaks for some . . . well, for some people

(01-28-2013 11:38 PM)ballen Wrote:  

(01-28-2013 11:07 PM)TigerBill Wrote:  

(01-28-2013 11:05 PM)Stanley_H Wrote:  Damn, I thought they were rolling in the dough up there. Still paying Fulmer and Pearl I suppose.

2 posts isn't a record, but it's close.

The other one must have been a doozy!

1 and done.

I get a certain feeling of pleasure in reading this....