Reply to thread

Message

[QUOTE="GoSU96, post: 1036918, member: 114"]
[url]http://www.syracuse.com/news/index.ssf/2013/03/syracuse_universitys_debt_more.html[/url]

Nowhere in that article does it mention athletics spending, where did you get that from.

"Alper and Lou Marcoccia, SU’s chief financial officer, stressed that SU borrows only for long-term building projects, not to pay day-to-day expenses. The total interest and payments amount to just 2 percent of SU’s annual budget, Marcoccia said: about $20 million out of a $1 billion budget.

“That is a reasonable benchmark,” Marcoccia said.

Cantor declined comment.

Among similar universities, SU’s debt is slightly larger than the average of $348 million. SU spends a smaller percentage of its budget on debt, though – the average is 4.6 percent."

The school is financing capital investment, something that happens every day all around the world, and makes sense when you can get financing terms that are that are basically giving the money away.   How does it make any sense to say the Basketball Program owes $149M to anyone?

The athletic department is not running on borrowed funds and I'm unaware of any athletic department capital spending that would run up to that number, let alone basketball specific investment.
[/QUOTE]

Verification

What is a Syracuse fan's favorite color?