Cal is swimming in debt: TCU did it right

[Limp Lizard]

 
Exactly.  This stadium isn't just close to a major fault.  The fault bisects the stadium from end zone to end zone.  There were huge cracks in the concrete at the fault barrier.
 
 
 
 
 
 

Wooden bleacher seats?  Reminds me of ACS a long, long time ago.

 

[MAcFroggy]

 
Not quite true.

 
Not too large of a burden on the academic side of campus?  Maybe that is better.  I am not really in the know.

 

[TopFrog]

BTW, the term would be drowning in debt.

 

[notyalc]

Swimming?  in Debt?  They need......The Fighting Okra!
 
http://www.youtube.com/watch?v=fdlhuESK-Kw&feature=endscreen&NR=1
 

 
Absolutely Awesome. Delta State mascot is the Fighting Okra. Hilarious.

 

[SnoSki]

Wooden bleacher seats?  Reminds me of ACS a long, long time ago.

 
I went to a game at Kyle Field in like 1994 as a wee lad and I remember wooden benches there too.

 

[Deep Purple]

CDC today reports Frog Club donations covered the school's $10 million athletics scholarship costs. Pretty damn good.

 
Yes it is.  Very good.  But last year was the first year in TCU history that has happened.  How many years do you think TCU swallowed the red ink for those athletic scholarships?
 
And guess how many other expenses beyond scholarships the Athletics program has year-in and year-out.  You think Athletics pays for all the unis and equipment?  Building/improving the administrative, practice, and competition facilities?  Facility and grounds operating costs and maintenance?  Office furnishings, equipment, and materials?  Information network?  Administrator, coach, and staff salaries/benefits?  Media equipment and recording?  Insurance?  Athletics marketing and promotions?  Accounting and payroll administration and records?  Tax recordkeeping and reporting?  Fundraising?  Etc.?
 
TCU pays for the overwhelming majority of all of that.  Athletics kicks in only a small percentage.

 

[ShadowFrog]

.....a little de-caf, please.

 

[FrogsMcGee]

 
Yes it is.  Very good.  But last year was the first year in TCU history that has happened.  How many years do you think TCU swallowed the red ink for those athletic scholarships?
 
And guess how many other expenses beyond scholarships the Athletics program has year-in and year-out.  You think Athletics pays for all the unis and equipment?  Building/improving the administrative, practice, and competition facilities?  Facility and grounds operating costs and maintenance?  Office furnishings, equipment, and materials?  Information network?  Administrator, coach, and staff salaries/benefits?  Media equipment and recording?  Insurance?  Athletics marketing and promotions?  Accounting and payroll administration and records?  Tax recordkeeping and reporting?  Fundraising?  Etc.?
 
TCU pays for the overwhelming majority of all of that.  Athletics kicks in only a small percentage.

 
Would it be more accurate to say that TCU historically paid the overwhelming majority of that?  With revenues skyrocketing, I imagine the athletics program is transitioning from the red to hopefully significantly in the black?  No?
 
And "Building/improving the administrative, practice, and competition facilities" have been capital projects overwhelmingly if not entirely donation funded, right?  So how is TCU subsidizing athletics there?

 

[Deep Purple]

Would it be more accurate to say that TCU historically paid the overwhelming majority of that?  With revenues skyrocketing, I imagine the athletics program is transitioning from the red to hopefully significantly in the black?  No?

 
Not yet.  Not by a long shot.
 

And "Building/improving the administrative, practice, and competition facilities" have been capital projects overwhelmingly if not entirely donation funded, right?  So how is TCU subsidizing athletics there?

 
In two ways:
 
1) Donations don't come in on their own.  You have to pay staff to go out and bring them in, track them, follow up on them, tax-receipt them, etc., as well as the facilities and infrastructure to support that staff.  TCU, not Athletics, pays for all of this.
 
2)  Most donations of any size aren't funded in a lump sum, they're funded over a term of years -- usually 3-5 years.  But you need all the money up front in order to build.  So you take a short-term bridge loan to fund immediate construction, and repay the loan principal with donation installments as they come in.  But that's just the principal.  TCU, not Athletics, pays the loan costs and all the interest.

 

[ShadowFrog]

Next up......Shakespeare for $1000, please Alex.........

 

[TopFrog]

 
Not yet.  Not by a long shot.
 
 
In two ways:
 
1) Donations don't come in on their own.  You have to pay staff to go out and bring them in, track them, follow up on them, tax-receipt them, etc., as well as the facilities and infrastructure to support that staff.  TCU, not Athletics, pays for all of this.
 
2)  Most donations of any size aren't funded in a lump sum, they're funded over a term of years -- usually 3-5 years.  But you need all the money up front in order to build.  So you take a short-term bridge loan to fund immediate construction, and repay the loan principal with donation installments as they come in.  But that's just the principal.  TCU, not Athletics, pays the loan costs and all the interest.

Good, keeps people like you in jobs.

 

[Deep Purple]

Good, keeps people like you in jobs.

Even better, TCU makes a lot of money on the deal. Always raise way more money than I cost the unversity to employ.

 

[ShadowFrog]

So...you earn your pay - yes?
Did you ever get rid of that Van Wilder personalized golf cart?

 

[Deep Purple]

So...you earn your pay - yes?

 
Several hundred times over.
 

Did you ever get rid of that Van Wilder personalized golf cart?

 
It's around, but not mine.  Borrowed.