It is a lot worse than the public realizes.
Jump to Big Ten Is a Big Flop for Rutgers
I am not in schadenfreude but Rutgers makes watching them fail fun.
Anyway, Rutgers is a failure starting in the board room. The reality of Rutgers problems starts with unrealistic expectations, unrealistic planning, unrealistic management, etc.
The financial problems are only a symptom of a faulty mentality/reasoning that money fixes everything. This mentality misses the points that 1) money has to come from some where; and, 2) money has to be spent wisely to be effective. Neither point has been addressed by Rutgers.
Rutgers AD is a money pit, taking money from student fees, the general fund and the State. AD should always be run with the idea that they musty be or become self funding. Running a deficit for a short term may be acceptable for a time, but must always come into balance or run in the black. SU's AD (Vandy, Duke, Northwestern) is probably an ideal model (I chose SU over USC and ND as they are a level above in alumni donations and such) as they run in the black, borrow only when it is justified (which frustrates us fans from time to time) but never abuses the students and fans, beyond ticket prices. Contract that with Rutgers who cannot support or live within their means. Had this been a person, you or I, we would be bankrupt. However, being a state agency, they have no need to be accountable for actual money management. Until the Board or the State puts their foot down, Rutgers will spend like a drunk sailor.
To compound the matter, Rutgers fails to spend money wisely, where it will build a return first. I understand that the B`1G requires Rutgers to get their facilities up to par but having a real plan, one that will help the financial situation as well as address compliance issues is the proper way to manage their resources. Adding to the problem is the manner in which they handle personnel and have ridiculous contracts. Knowing their situation, they should take chances with lesser known personnel who show promise. Instead they treat unknows who may have potential or have poor histories and grant them payouts that are above their means. When an ASH situation or their former AD and their hoops coach, etc. get fired, they incur the full force of their foolishness paying huge buyouts for people that should never had the contract to begin with.
Apologies for being long winded. But it couldn't happen to a more deserving program.
