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Rutgers $265M Debt to Be in the B1G
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TexanMark Offline
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Rutgers $265M Debt to Be in the B1G
Amazing read. If this was a corporation people would be going to prison.

https://www.njherald.com/in-depth/news/w...1QSa-d_vu0
09-07-2021 03:26 PM
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solohawks Online
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RE: Rutgers $265M Debt to Be in the B1G
I loved how they characterized it as a revenue problem not a spending problem
09-07-2021 04:10 PM
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CardinalJim Offline
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RE: Rutgers $265M Debt to Be in the B1G
(09-07-2021 04:10 PM)solohawks Wrote:  I loved how they characterized it as a revenue problem not a spending problem

That’s the philosophy my ex wife practices too.
“I don’t have a spending problem I just don’t make enough money.”
09-07-2021 04:24 PM
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Huan Offline
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RE: Rutgers $265M Debt to Be in the B1G
Wow
09-07-2021 05:07 PM
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Stugray2 Online
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RE: Rutgers $265M Debt to Be in the B1G
Now my question is what did Eastern Michigan get with $265m in deficit spending for their athletic program?
(This post was last modified: 09-07-2021 05:21 PM by Stugray2.)
09-07-2021 05:20 PM
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Wahoowa84 Offline
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RE: Rutgers $265M Debt to Be in the B1G
Rutgers does have interesting accounting standards…they just label loans (from the University and B10) as “other revenues”.

High-level, revenue generation is their biggest problem. The continual reduction in ticket revenue (from $12m in 2013 to $5m in 2019) means that they are not putting an adequate product for fans. Someone has to be dead last in B10 donations, but getting only 13% of OSU levels means that they’re not going to be able to compete athletically.
09-07-2021 05:23 PM
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Pervis_Griffith Offline
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RE: Rutgers $265M Debt to Be in the B1G
Clearly, Rutgers painted a picture to the Big Ten that was rosier than reality. And the Big Ten bought it. Which short and long term is good for Rutgers.

But Rutgers' plan to make that rosy picture real was hit with several scandals at the worst possible time. Then COVID hit them when they were most exposed ... and boom.

Their way out of the hole is football success. Schiano seems to have them on an early path to that.

They gotta sell tickets. The good news for Rutgers is they don't need to win the Big Ten to sell tickets ... they only have to elevate themselves to the middle of the pack. Which is infinitely doable.
09-07-2021 05:33 PM
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UpStreamRedTeam Online
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RE: Rutgers $265M Debt to Be in the B1G
(09-07-2021 05:23 PM)Wahoowa84 Wrote:  Rutgers does have interesting accounting standards…they just label loans (from the University and B10) as “other revenues”.

High-level, revenue generation is their biggest problem. The continual reduction in ticket revenue (from $12m in 2013 to $5m in 2019) means that they are not putting an adequate product for fans. Someone has to be dead last in B10 donations, but getting only 13% of OSU levels means that they’re not going to be able to compete athletically.

We went from one terrible coach (Kyle Flood) to an even worse one (Chris Ash). Rutgers averaged 46K fans in 2013 to 30K in 2019. There is an excitement around the program for the first time since Schiano left and hopefully a better than expected season last year (even at 3-6 in the B1G that was the by far better than anything Chris Ash ever managed) coupled with strong recruiting can get things turned around.
09-07-2021 05:38 PM
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quo vadis Offline
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RE: Rutgers $265M Debt to Be in the B1G
(09-07-2021 03:26 PM)TexanMark Wrote:  Amazing read. If this was a corporation people would be going to prison.

https://www.njherald.com/in-depth/news/w...1QSa-d_vu0

Rutgers is a massive mess.
09-07-2021 06:18 PM
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Statefan Online
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RE: Rutgers $265M Debt to Be in the B1G
MD is in nearly the same position in the B10.
09-07-2021 06:20 PM
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XLance Offline
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RE: Rutgers $265M Debt to Be in the B1G
(09-07-2021 06:20 PM)Statefan Wrote:  MD is in nearly the same position in the B10.

Two peas in a pod.07-coffee3
09-07-2021 06:54 PM
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DFW HOYA Offline
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RE: Rutgers $265M Debt to Be in the B1G
"Moreover, the school’s contract with the Big Ten is secret — Rutgers conceded it does not even maintain a copy of the agreement, adding to the lack of transparency."
09-07-2021 07:00 PM
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thrill_house Offline
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RE: Rutgers $265M Debt to Be in the B1G
(09-07-2021 05:20 PM)Stugray2 Wrote:  Now my question is what did Eastern Michigan get with $265m in deficit spending for their athletic program?

- Student Athletic complex in the end zone (at least 15 years too late)
- Worlds worst jumbotron on top of the athletic complex where it's impossible to read any of the information and no in-game stats are displayed
- Gray turf because "we need to be different!"
- Tarps to tarp off 40% of your 30,000 seat stadium because no away fans ever attend besides parents of the players

But hey, parking was free and it was an easy in, easy out with not a lot of price gouging at the one concession stand they had.

I don't know why the TV cameras are on the home side, at least if they were on the visitors side the general public would know that there's a few people who actually go to this game. It's also hilarious that the only program in the MAC who has never even made it to the MAC Championship has a massive "CHAMPIONS BUILT HERE" slogan at midfield behind the away bench.

You want to help them but after meeting some of the people involved you begin to realize they're just never going to figure simple things out.
09-07-2021 08:23 PM
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ccd494 Offline
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RE: Rutgers $265M Debt to Be in the B1G
This has been my point whenever people asked for realignment's biggest losers- Rutgers is on the list.

Great, you have millions more in revenues, but you need to spend even more millions to try to be competitive. Being in a G5 conference, spending $20M and making $15M, and winning 6-8 games a year is preferable to being P5, spending $80M to make $60M, and winning 2-4 games a year.
09-07-2021 08:32 PM
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bill dazzle Offline
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RE: Rutgers $265M Debt to Be in the B1G
This situation is to college athletics what Bill Dazzle's limericks are to the ladies: disturbing.
09-07-2021 08:37 PM
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thrill_house Offline
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RE: Rutgers $265M Debt to Be in the B1G
Perhaps Rutgers should stop kicking kids out of virtual classes for being unvaccinated if revenue is a concern.

https://nypost.com/2021/09/07/rutgers-ba...l-classes/
09-07-2021 08:48 PM
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Stugray2 Online
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RE: Rutgers $265M Debt to Be in the B1G
So this is New Jersey and people think it's unusual a mere $265m vanished? I mean Jimmy Hoffa vanished too. 04-coffee
09-07-2021 10:00 PM
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BigEastMike Offline
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RE: Rutgers $265M Debt to Be in the B1G
(09-07-2021 03:26 PM)TexanMark Wrote:  Amazing read. If this was a corporation people would be going to prison.

https://www.njherald.com/in-depth/news/w...1QSa-d_vu0

It's Rutgers/Syracuse Week!!!!
09-08-2021 05:20 AM
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BigEastMike Offline
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RE: Rutgers $265M Debt to Be in the B1G
(09-07-2021 08:32 PM)ccd494 Wrote:  This has been my point whenever people asked for realignment's biggest losers- Rutgers is on the list.

Great, you have millions more in revenues, but you need to spend even more millions to try to be competitive. Being in a G5 conference, spending $20M and making $15M, and winning 6-8 games a year is preferable to being P5, spending $80M to make $60M, and winning 2-4 games a year.

Nope. It's not in any way better off being in the G5, in the long run the money issues will resolve themselves when they finally start getting a full share of B1G revenue. They are in the stablest conference who will always be at the top of college sports. You don't give that up for the AAC because you might win a few more games.
09-08-2021 05:29 AM
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quo vadis Offline
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RE: Rutgers $265M Debt to Be in the B1G
(09-07-2021 08:32 PM)ccd494 Wrote:  This has been my point whenever people asked for realignment's biggest losers- Rutgers is on the list.

Great, you have millions more in revenues, but you need to spend even more millions to try to be competitive. Being in a G5 conference, spending $20M and making $15M, and winning 6-8 games a year is preferable to being P5, spending $80M to make $60M, and winning 2-4 games a year.

I disagree entirely. IMO Rutgers is basically the biggest winner. This is a school with poor athletics and it was elevated from the G-ranks (as the rump Big East was surely going to be a G) to the most lucrative conference at the time, the B1G. That's a better deal anyone else got.

Way, way better to be a bumbler in the B1G than a shining star in a G-league. Infinitely better, IMO.
09-08-2021 06:37 AM
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