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UConn loses $40 million in 2018 trying to keep up
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XLance Online
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UConn loses $40 million in 2018 trying to keep up
UConn athletics lost over $40 million in 2018.

https://www.apnews.com/6d704448c5814814bb325338427ea71b

https://www.newsday.com/news/region-stat...1.26058529

HARTFORD, Conn. - (AP) -- Spending in the athletic division at the University of Connecticut outpaced revenue by more than $40 million in 2018, the school reported Thursday.

In an NCAA financial statement, UConn reported that total generated revenue from sports last year totaled $40.4 million, while expenses came in at $80.9 million.

UConn spokeswoman Stephanie Reitz said the gap is a result of declining conference and media licensing revenue and rising costs.

"It is not sustainable and the Division of Athletics is continually working to identify savings and drive up revenue in order to help close this gap," she said.
01-19-2019 10:48 AM
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quo vadis Online
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Post: #2
RE: UConn loses $40 million in 2018 trying to keep up
(01-19-2019 10:48 AM)XLance Wrote:  UConn athletics lost over $40 million in 2018.

https://www.apnews.com/6d704448c5814814bb325338427ea71b

"It is not sustainable and the Division of Athletics is continually working to identify savings and drive up revenue in order to help close this gap," she said.

When even the mouthpiece of the profligate administration says that the current situation is "not sustainable" then you know it's awful. Usually, for these admins who harp constantly and ridonculously about athletics as the "front porch", no amount of deficit spending or soaking of students with fees is ever too much. 07-coffee3
01-19-2019 11:11 AM
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TexanMark Online
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RE: UConn loses $40 million in 2018 trying to keep up
And the Big East divorce money just ended IIRC
01-19-2019 11:11 AM
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quo vadis Online
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RE: UConn loses $40 million in 2018 trying to keep up
(01-19-2019 11:11 AM)TexanMark Wrote:  And the Big East divorce money just ended IIRC

Yep. UConn is pinning all its hopes on Aresco's consummate negotiating skills.

Problem is, even if Aresco does cut a good media deal, chances are it won't be that much more than what UConn was getting from the Big East divorce money, which still resulted in these massive deficits.
01-19-2019 11:18 AM
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Pervis_Griffith Offline
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RE: UConn loses $40 million in 2018 trying to keep up
OUCH.

04-jawdrop

03-puke

03-banghead

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01-19-2019 11:29 AM
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quo vadis Online
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RE: UConn loses $40 million in 2018 trying to keep up
Sometimes in a science fiction movie, a damaged space ship will be drifting towards outer space and the crew has one chance left or else be lost forever, and it usually involves blowing out all the remaining fuel in one last burst to try and get to the planet or space station or whatever.

UConn is seemingly doing the same thing, they've fired off all their NOS and whatnot in one last desperate blast to reach their haven, which is the P5.

But unlike in the sci-fi movies, there is no haven on the horizon to aim for. 07-coffee3
(This post was last modified: 01-19-2019 12:12 PM by quo vadis.)
01-19-2019 12:02 PM
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Statefan Offline
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RE: UConn loses $40 million in 2018 trying to keep up
(01-19-2019 10:48 AM)XLance Wrote:  UConn athletics lost over $40 million in 2018.

https://www.apnews.com/6d704448c5814814bb325338427ea71b

https://www.newsday.com/news/region-stat...1.26058529

HARTFORD, Conn. - (AP) -- Spending in the athletic division at the University of Connecticut outpaced revenue by more than $40 million in 2018, the school reported Thursday.

In an NCAA financial statement, UConn reported that total generated revenue from sports last year totaled $40.4 million, while expenses came in at $80.9 million.

UConn spokeswoman Stephanie Reitz said the gap is a result of declining conference and media licensing revenue and rising costs.

"It is not sustainable and the Division of Athletics is continually working to identify savings and drive up revenue in order to help close this gap," she said.

The legacy of Lew Perkins is disaster at every location.
01-19-2019 12:12 PM
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GoldenWarrior11 Offline
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Post: #8
RE: UConn loses $40 million in 2018 trying to keep up
[Image: giphy.gif?cid=3640f6095c436109734c34346b93e45f]

For the "optimistic" posters that think the AAC is going to get $8-$12 million in television revenue in the next TV deal (which would be between a 470% and 710% pay increase), what difference would that make when your travel budget alone is $7.8 million?

The budget, most likely is on another projection for a similar loss next year. I get that fans want to continue throwing money at the problem, but... wow.
01-19-2019 12:49 PM
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TerryD Online
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RE: UConn loses $40 million in 2018 trying to keep up
(01-19-2019 11:18 AM)quo vadis Wrote:  
(01-19-2019 11:11 AM)TexanMark Wrote:  And the Big East divorce money just ended IIRC

Yep. UConn is pinning all its hopes on Aresco's consummate negotiating skills.

Problem is, even if Aresco does cut a good media deal, chances are it won't be that much more than what UConn was getting from the Big East divorce money, which still resulted in these massive deficits.


What they are really counting on is an ACC or Big Ten invitation if the Big 12 implodes.

Alternatively, they are hoping to merge with the remnants of the Big 12 and receive more TV dollars that way.

There is no real UConn plan other than to hope for the best and get a P5 spot.
(This post was last modified: 01-19-2019 02:39 PM by TerryD.)
01-19-2019 02:38 PM
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RE: UConn loses $40 million in 2018 trying to keep up
(01-19-2019 11:18 AM)quo vadis Wrote:  
(01-19-2019 11:11 AM)TexanMark Wrote:  And the Big East divorce money just ended IIRC

Yep. UConn is pinning all its hopes on Aresco's consummate negotiating skills.

Problem is, even if Aresco does cut a good media deal, chances are it won't be that much more than what UConn was getting from the Big East divorce money, which still resulted in these massive deficits.

Good wont do it. UConn to keep playing Football needs north of $20M a year infusion in TV money. The high end the AAC is talking about is $8M per school, but it's more likely to come in under $5M.

UConn is looking at half a billion $ deficit in the next decade if they continue Football and spending at this level.

USF has to a large extent taken themselves out of the P5 conversation by trimming and shaving the budget every chance they can to stay halfway fiscally responsible. Houston on the flip side is all in, while BYU, Cincy and UCF are as in as they can be without completely abandoning fiscal responsibility. UConn is out of control.

I really doubt Aresco will deliver enough to change the equation more than a fractional amount. The big problem the American has is it's competing for time slots with the B1G, ACC, SEC and XII; that is four long established power conferences. Their bottom 2/3rds of schools do not deliver any real value. But we've been over this. Aresco has made expectations extremely high, and he is likely to come up very short. But let's assume he comes in with a double any other G5 deal at over $5M per school. For UConn that is only a $3M per year increase witha $40M deficit. That doesn't make a difference.

Football could be in trouble very soon at UConn.
01-19-2019 02:51 PM
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HeartOfDixie Offline
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RE: UConn loses $40 million in 2018 trying to keep up
Sometimes, the numbers just don't make sense and no manner of manipulation can make it any better.
01-19-2019 02:53 PM
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RE: UConn loses $40 million in 2018 trying to keep up
(01-19-2019 12:02 PM)quo vadis Wrote:  Sometimes in a science fiction movie, a damaged space ship will be drifting towards outer space and the crew has one chance left or else be lost forever, and it usually involves blowing out all the remaining fuel in one last burst to try and get to the planet or space station or whatever.

UConn is seemingly doing the same thing, they've fired off all their NOS and whatnot in one last desperate blast to reach their haven, which is the P5.

But unlike in the sci-fi movies, there is no haven on the horizon to aim for. 07-coffee3

Who are you? Buck Vadis of the 21st Century? I can see it now. If UConn doesn't make a P5 conference their obituary will be due to out-gassing. Ground Control to Major Tom!
01-19-2019 03:08 PM
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JRsec Offline
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RE: UConn loses $40 million in 2018 trying to keep up
(01-19-2019 02:38 PM)TerryD Wrote:  
(01-19-2019 11:18 AM)quo vadis Wrote:  
(01-19-2019 11:11 AM)TexanMark Wrote:  And the Big East divorce money just ended IIRC

Yep. UConn is pinning all its hopes on Aresco's consummate negotiating skills.

Problem is, even if Aresco does cut a good media deal, chances are it won't be that much more than what UConn was getting from the Big East divorce money, which still resulted in these massive deficits.


What they are really counting on is an ACC or Big Ten invitation if the Big 12 implodes.

Alternatively, they are hoping to merge with the remnants of the Big 12 and receive more TV dollars that way.

There is no real UConn plan other than to hope for the best and get a P5 spot.

Terry they have a time restricted window even if the Big 12 is raided. If it comes at the end of 2024 when the GOR expires that's 6 more years. They have 2 at best before this thing reaches critical mass.
01-19-2019 03:13 PM
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XLance Online
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Post: #14
RE: UConn loses $40 million in 2018 trying to keep up
(01-19-2019 12:12 PM)Statefan Wrote:  
(01-19-2019 10:48 AM)XLance Wrote:  UConn athletics lost over $40 million in 2018.

https://www.apnews.com/6d704448c5814814bb325338427ea71b

https://www.newsday.com/news/region-stat...1.26058529

HARTFORD, Conn. - (AP) -- Spending in the athletic division at the University of Connecticut outpaced revenue by more than $40 million in 2018, the school reported Thursday.

In an NCAA financial statement, UConn reported that total generated revenue from sports last year totaled $40.4 million, while expenses came in at $80.9 million.

UConn spokeswoman Stephanie Reitz said the gap is a result of declining conference and media licensing revenue and rising costs.

"It is not sustainable and the Division of Athletics is continually working to identify savings and drive up revenue in order to help close this gap," she said.

The legacy of Lew Perkins is disaster at every location.

Yep! it all boils down to one word................"lawsuit".
01-19-2019 03:13 PM
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Attackcoog Offline
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Post: #15
RE: UConn loses $40 million in 2018 trying to keep up
(01-19-2019 12:02 PM)quo vadis Wrote:  Sometimes in a science fiction movie, a damaged space ship will be drifting towards outer space and the crew has one chance left or else be lost forever, and it usually involves blowing out all the remaining fuel in one last burst to try and get to the planet or space station or whatever.

UConn is seemingly doing the same thing, they've fired off all their NOS and whatnot in one last desperate blast to reach their haven, which is the P5.

But unlike in the sci-fi movies, there is no haven on the horizon to aim for. 07-coffee3

Yeah...it seems to me there are things UConn probably needs to do to adjust to the current G5 status. They sponsor 20 sports. Might need to pare that back a bit. Then, Im not sure why it costs them 80+ million to run a G5 program. It ridiculous that they are spending what they are for the results they are getting. Not sure where its all going. I see no reason why they cant get better results for much less. I see no reason why they cant be just as good as any school in the AAC for 60 million---which is closer to what the other high performing AAC schools are spending. That cuts the deficit by half right there. Add in a 10 million dollar TV deal and maybe you can cut almost three quarters of the deficit.
(This post was last modified: 01-19-2019 03:56 PM by Attackcoog.)
01-19-2019 03:21 PM
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quo vadis Online
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RE: UConn loses $40 million in 2018 trying to keep up
(01-19-2019 03:21 PM)Attackcoog Wrote:  
(01-19-2019 12:02 PM)quo vadis Wrote:  Sometimes in a science fiction movie, a damaged space ship will be drifting towards outer space and the crew has one chance left or else be lost forever, and it usually involves blowing out all the remaining fuel in one last burst to try and get to the planet or space station or whatever.

UConn is seemingly doing the same thing, they've fired off all their NOS and whatnot in one last desperate blast to reach their haven, which is the P5.

But unlike in the sci-fi movies, there is no haven on the horizon to aim for. 07-coffee3

Yeah...it seems to me there are things UConn probably needs to do to adjust to the current G5 status. They sponsor 20 sports. Might need to pair that back a bit. Then, Im not sure why it costs them 80+ million to run a G5 program. It ridiculous that they are spending what they are for the results they are getting. Not sure where its all going. I see no reason why they cant get better results for much less. I see no reason why they cant be just as good as any school in the AAC for 60 million---which is closer to what the other high performing AAC schools are spending. That cuts the deficit by half right there. Add in a 10 million dollar TV deal and maybe you can cut almost three quarters of the deficit.

Yes, and there's also the Ollie issue hanging overhead. UConn has become the first school maybe in history to eagerly embrace the notion that their coach committed NCAA violations as that has given them the excuse to fire a bad coach 'for cause' and save $10m. But i am not sure that this will work out, because arguably worse infractions were found by the NCAA under Calhoun, but he wasn't fired because of them.
(This post was last modified: 01-19-2019 03:35 PM by quo vadis.)
01-19-2019 03:34 PM
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Post: #17
RE: UConn loses $40 million in 2018 trying to keep up
Sounds like there's a lot of blame to go around here, not least of which is no longer playing against traditional basketball rivals. But how big a mistake was it to agree to play football in a stadium over 20 mi. away? Would an on-campus stadium bridge the revenue gap at all? It looked like they were drawing pretty good crowds when they were playing better football, despite the distance to the Rent.
01-19-2019 03:41 PM
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RE: UConn loses $40 million in 2018 trying to keep up
(01-19-2019 03:21 PM)Attackcoog Wrote:  
(01-19-2019 12:02 PM)quo vadis Wrote:  Sometimes in a science fiction movie, a damaged space ship will be drifting towards outer space and the crew has one chance left or else be lost forever, and it usually involves blowing out all the remaining fuel in one last burst to try and get to the planet or space station or whatever.

UConn is seemingly doing the same thing, they've fired off all their NOS and whatnot in one last desperate blast to reach their haven, which is the P5.

But unlike in the sci-fi movies, there is no haven on the horizon to aim for. 07-coffee3

Yeah...it seems to me there are things UConn probably needs to do to adjust to the current G5 status. They sponsor 20 sports. Might need to pair that back a bit. Then, Im not sure why it costs them 80+ million to run a G5 program. It ridiculous that they are spending what they are for the results they are getting. Not sure where its all going. I see no reason why they cant get better results for much less. I see no reason why they cant be just as good as any school in the AAC for 60 million---which is closer to what the other high performing AAC schools are spending. That cuts the deficit by half right there. Add in a 10 million dollar TV deal and maybe you can cut almost three quarters of the deficit.


UConn. is in the northeast. It is more of a basketball school. The problem is that their fans really do not support their teams in the northeast. They have a Boston College like problem when fans do not buy football tickets.
01-19-2019 03:55 PM
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Attackcoog Offline
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RE: UConn loses $40 million in 2018 trying to keep up
(01-19-2019 03:55 PM)DavidSt Wrote:  
(01-19-2019 03:21 PM)Attackcoog Wrote:  
(01-19-2019 12:02 PM)quo vadis Wrote:  Sometimes in a science fiction movie, a damaged space ship will be drifting towards outer space and the crew has one chance left or else be lost forever, and it usually involves blowing out all the remaining fuel in one last burst to try and get to the planet or space station or whatever.

UConn is seemingly doing the same thing, they've fired off all their NOS and whatnot in one last desperate blast to reach their haven, which is the P5.

But unlike in the sci-fi movies, there is no haven on the horizon to aim for. 07-coffee3

Yeah...it seems to me there are things UConn probably needs to do to adjust to the current G5 status. They sponsor 20 sports. Might need to pair that back a bit. Then, Im not sure why it costs them 80+ million to run a G5 program. It ridiculous that they are spending what they are for the results they are getting. Not sure where its all going. I see no reason why they cant get better results for much less. I see no reason why they cant be just as good as any school in the AAC for 60 million---which is closer to what the other high performing AAC schools are spending. That cuts the deficit by half right there. Add in a 10 million dollar TV deal and maybe you can cut almost three quarters of the deficit.


UConn. is in the northeast. It is more of a basketball school. The problem is that their fans really do not support their teams in the northeast. They have a Boston College like problem when fans do not buy football tickets.

They do fine when they arent just gawdawful. If football can get around .500 and basketball keeps improving---much of this issue will vanish.
01-19-2019 03:58 PM
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ken d Offline
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RE: UConn loses $40 million in 2018 trying to keep up
(01-19-2019 03:58 PM)Attackcoog Wrote:  
(01-19-2019 03:55 PM)DavidSt Wrote:  
(01-19-2019 03:21 PM)Attackcoog Wrote:  
(01-19-2019 12:02 PM)quo vadis Wrote:  Sometimes in a science fiction movie, a damaged space ship will be drifting towards outer space and the crew has one chance left or else be lost forever, and it usually involves blowing out all the remaining fuel in one last burst to try and get to the planet or space station or whatever.

UConn is seemingly doing the same thing, they've fired off all their NOS and whatnot in one last desperate blast to reach their haven, which is the P5.

But unlike in the sci-fi movies, there is no haven on the horizon to aim for. 07-coffee3

Yeah...it seems to me there are things UConn probably needs to do to adjust to the current G5 status. They sponsor 20 sports. Might need to pair that back a bit. Then, Im not sure why it costs them 80+ million to run a G5 program. It ridiculous that they are spending what they are for the results they are getting. Not sure where its all going. I see no reason why they cant get better results for much less. I see no reason why they cant be just as good as any school in the AAC for 60 million---which is closer to what the other high performing AAC schools are spending. That cuts the deficit by half right there. Add in a 10 million dollar TV deal and maybe you can cut almost three quarters of the deficit.


UConn. is in the northeast. It is more of a basketball school. The problem is that their fans really do not support their teams in the northeast. They have a Boston College like problem when fans do not buy football tickets.

They do fine when they arent just gawdawful. If football can get around .500 and basketball keeps improving---much of this issue will vanish.

I can't imagine that achieving football mediocrity (granted, a big step forward) will cause deficits of this size to vanish, or even become manageable. I hate to say it, but I think UConn needs to consider not just dropping football down to FCS level, but dropping the sport altogether. That still may not be enough, but at least they would be able to justify whatever deficits still exist.
01-19-2019 04:25 PM
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