Syracuse Athletics Launches Sweeping $50M Campaign to Create Champions and Win Championships

[OrangeXtreme]

 

[OrangeXtreme]

 

[Qbobby]

1- I always forget just how large a man Matt Park is.

2- I love watching us actually take this seriously moving into the future.

 

[DoubleDee]

1- I always forget just how large a man Matt Park is.

2- I love watching us actually take this seriously moving into the future.

Like many of us, he's "grown".

 

[shandeezy7]

Why does that caption make me think of this?

 

[CuseLegacy]

 

[CuseLegacy]

 

[OttosDad]

1- I always forget just how large a man Matt Park is.

2- I love watching us actually take this seriously moving into the future.

Asking to raise $50mil over the next 3 years is very unserious given the current landscape. To me, this signaled that our two major sports will never be competing for a championship again.

Michigan is getting ready to pay the top football recruit in the country $12mil this year alone.

I love this athletic department and I care about the success. I just really struggle to see how we compete

 

[shandeezy7]

Asking to raise $50mil over the next 3 years is very unserious given the current landscape. To me, this signaled that our two major sports will never be competing for a championship again.

Michigan is getting ready to pay the top football recruit in the country $12mil this year alone.

I love this athletic department and I care about the success. I just really struggle to see how we compete

"Michigan" isn't paying him $12M. That's NIL money outside of the school. This campaign is related to the anticipated revenue sharing model that seems likely to be implemented, and I assume the money raised through this campaign is meant to replace that share of revenue that will be going directly to student athletes and no longer going to the athletic department and its various programs.

It sounds to me like SU is prepared to spend the maximum amount allowed under the revenue sharing model, so I'm not sure how you equate that with the AD being unserious?

 

[SUFan44]

"Michigan" isn't paying him $12M. That's NIL money outside of the school. This campaign is related to the anticipated revenue sharing model that seems likely to be implemented, and I assume the money raised through this campaign is meant to replace that share of revenue that will be going directly to student athletes and no longer going to the athletic department and its various programs.

It sounds to me like SU is prepared to spend the maximum amount allowed under the revenue sharing model, so I'm not sure how you equate that with the AD being unserious?

Here's the thing. SU is prepared to spend the maximum, with the caveat that the probably need to fundraise for most of it to offset the distribution of revenue.

The $20.5M doesn't come out of thin air. It needs to come from somewhere. There is probably some fat they can trim in certain areas, but if they want to be able to compete in the revenue sports, they won't be cutting in those areas.

 

[shandeezy7]

Here's the thing. SU is prepared to spend the maximum, with the caveat that the probably need to fundraise for most of it to offset the distribution of revenue.

The $20.5M doesn't come out of thin air. It needs to come from somewhere. There is probably some fat they can trim in certain areas, but if they want to be able to compete in the revenue sports, they won't be cutting in those areas.

Exactly, hence this campaign. Like I said, it's to offset lost revenue going directly to players instead of to programs and other operating expenses.

 

[DoubleDee]

Who names these things?

 

[CNYGuy]

Asking to raise $50mil over the next 3 years is very unserious given the current landscape. To me, this signaled that our two major sports will never be competing for a championship again.

Michigan is getting ready to pay the top football recruit in the country $12mil this year alone.

I love this athletic department and I care about the success. I just really struggle to see how we compete

I said this in the basketball thread, but starting July 1, they 'allegedly' won't be able to do that anymore (we'll see if it sticks).

$20.5 is the limit for a school to directly give (or salary cap, if you will). In the new proposal, kids can still do car ads and other NIL stuff, but there's going to be an organization setup (outside the NCAA, which makes it at least have a chance to succeed) that is going to set limits on what you can pay someone for a car ad. It's supposed to be "fair market value"

 

[Toga]

On an unrelated note - anyone remember how much the school is receiving from JMA for naming rights?

 

[HtownOrange]

Like many of us, he's "grown".

Some of resemble that remark...

 

[SUFan44]

"Michigan" isn't paying him $12M. That's NIL money outside of the school. This campaign is related to the anticipated revenue sharing model that seems likely to be implemented, and I assume the money raised through this campaign is meant to replace that share of revenue that will be going directly to student athletes and no longer going to the athletic department and its various programs.

It sounds to me like SU is prepared to spend the maximum amount allowed under the revenue sharing model, so I'm not sure how you equate that with the AD being unserious?

Well, I think it is 'serious' that they are to that $20.5M level, but will they actually spend that and run a deficit if they can't get to that point fundraising?

Devil is in the details - they can say whatever they want, but then starting a fundraising campaign to go along with it tells me they aren't prepared to spend at all costs and want donations to match spending.

 

[shandeezy7]

Well, I think it is 'serious' that they are to that $20.5M level, but will they actually spend that and run a deficit if they can't get to that point fundraising?

Devil is in the details - they can say whatever they want, but then starting a fundraising campaign to go along with it tells me they aren't prepared to spend at all costs and want donations to match spending.

Yes, there's certainly nothing that compels them to spend that amount if they feel like the funds aren't there, but they aren't the only school that's trying to find a way to replace the lost revenue. They are just trying to do it the more traditional fundraising route versus tacking on fees to tickets and concessions like Tennessee, Arkansas and UNC in this article:

How Schools Are Raising Money for House v. NCAA Settlement

Schools are scrambling to figure out how to fund the millions in revenue-sharing payments to players starting next year.

frontofficesports.com

 

[orangenauburn]

On an unrelated note - anyone remember how much the school is receiving from JMA for naming rights?

Hopefully $20.5m a year

 

[DomeHolmes]

If I correctly recall an article posted here recently, we are somewhere around 40th as far as overall sports revenue, but actually had a surplus of over $30 million. While schools like Rutgers are running $80 million deficits. (soon to be $100 million after the 20 million NIL). And in that same article Ohio State, despite taking in $300 million in revenue, still had a deficit. (I’m sure by choice). So it would seem to me that even after doing this, we will be just fine as far as not having to raise huge amounts of money to offset the $20 million. And anything that we do raise is a plus. And if the numbers are accurate, we will still be in the black with no assistance.

The bigger problem will still be that we might have $24 million to share when you add up NIL and revenue sharing for football, but Ohio State, Alabama etc, will still have 40 million.

But, we now might have maybe 60% of the money that the big boys have to spread around, whereas before it was maybe 15 or 20%. So hopefully revenue sharing is a help to us.

The whole Idea of it really being “revenue sharing” is a joke though, because Syracuse (and a few others) are the exception, not the rule. We are one of the handful of 30 or so schools that actually have their athletic department in the black. Most of the schools that are “sharing revenue“ are really going deeper and deeper in the red to do it.

 

[SuFTW]

Well, I think it is 'serious' that they are to that $20.5M level, but will they actually spend that and run a deficit if they can't get to that point fundraising?

Devil is in the details - they can say whatever they want, but then starting a fundraising campaign to go along with it tells me they aren't prepared to spend at all costs and want donations to match spending.

How do you know that’s not the back up plan?

 

[OrangeinBoston]

Asking to raise $50mil over the next 3 years is very unserious given the current landscape. To me, this signaled that our two major sports will never be competing for a championship again.

Michigan is getting ready to pay the top football recruit in the country $12mil this year alone.

I love this athletic department and I care about the success. I just really struggle to see how we compete

Lay off the drugs please.

 

[Dinkyspond]

1- I always forget just how large a man Matt Park is.

2- I love watching us actually take this seriously moving into the future.

Matt played basketball at Chittenango. Was he a good player there?

 

[SUFan44]

How do you know that’s not the back up plan?

The timing of the announcement tells me it's part of the main plan.

 

[FasterCuse]

On an unrelated note - anyone remember how much the school is receiving from JMA for naming rights?

I think the rumor was 5M/year for 10 years.

 

[upperdeck]

most departments on campus run at a deficit, why would athletics be any different.