Try this:
syracusefan.com
None of that differs from what I said.Try this:
The all-inclusive Rutgers dumpster fire thread...
For your amusement - I saw this R on the back of a car in the office parking lot. Even cars don't want to be associated with a loser. I call my pic "Please remove yourself"
In fiscal 2017, the athletic department brought in $96.9 million, but it spent $99.2 million, leaving a $2.3 million operating deficit. This, despite athletics receiving $21.32 million in direct institutional support from the school and another $11.77 million in student fees.
Again these are not real costs. It is forgone income. Rutgers isn’t taking money from the general fund.In fiscal 2017, the athletic department brought in $96.9 million, but it spent $99.2 million, leaving a $2.3 million operating deficit. This, despite athletics receiving $21.32 million in direct institutional support from the school and another $11.77 million in student fees.
The $33 million subsidy in fiscal 2017 is up from more than $28 million in fiscal 2016, when athletics received $17.16 million in institutional support and another $11.42 million in student fees.
Rutgers says full Big Ten share delayed until 2027
A newly released report states, among other things, that Rutgers will not get a full revenue share from the Big Ten until 2027www.app.com
Seems like "creative" accounting.
Oh it gets better.In fiscal 2017, the athletic department brought in $96.9 million, but it spent $99.2 million, leaving a $2.3 million operating deficit. This, despite athletics receiving $21.32 million in direct institutional support from the school and another $11.77 million in student fees.
The $33 million subsidy in fiscal 2017 is up from more than $28 million in fiscal 2016, when athletics received $17.16 million in institutional support and another $11.42 million in student fees.
Rutgers says full Big Ten share delayed until 2027
A newly released report states, among other things, that Rutgers will not get a full revenue share from the Big Ten until 2027www.app.com
Tell HRE Otto.Oh it gets better.
Rutgers athletics rang up a $73M deficit last year. Students, taxpayers were on the hook
Rutgers athletics spending reached an all-time high of $118 million in 2020-21. Direct university subsidies more than doubled, to nearly $28 million.www.northjersey.com
"Direct subsidies from the university to athletics more than doubled from the prior year, to $27.6 million, which includes a large loan from the university. Though student fees went down slightly during the COVID-19 pandemic, the total amount of fees, state aid and university support rose 50% over the prior fiscal year — to almost $43 million."
"NorthJersey.com revealed last September that Rutgers had been reporting loans from the university under “other operating revenue,” a practice that is contrary to NCAA guidelines and that made its annual deficits appear smaller. This year the loan was moved to "direct institutional support." The loans to athletics to cover operating deficits were also not permitted under university policy. "
"That policy was changed last year following questions from NorthJersey.com. "
Tell HRE Otto.
If you go back a couple decades - long before the B1G's Big Mistake of taking Rutgers - Rutgers was losing money from the AD. They have only increased their losses which are in the $1Billion range. They are never projected to pay back any of the losses. The goal is to merely break even at some point. With $73MM in the hole last year, it is highly unlikely that the B1G payouts will exceed Rutgers' continued and projected losses any time soon. All projections showing Rutgers' running in the black within a few years use Rutgers' "funny" accounting which is generally unethical, if not illegal.
