'72 Orange
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Not surprised. There was a thread in their R!vals board seriously questioning if the would finally out-recruit PSU!
The all-inclusive Rutgers dumpster fire thread...
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javadoc
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Well played
Whitey23
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Subsidy of Rutgers athletics jumps 67.9% to $47 million
The $46,996,697 total subsidy, which includes $9,877,989 in student fees, $12,601 in government support specifically earmarked for the athletics department and $37,106,107 in direct institutional aid, is by far the most an NCAA Division I public school athletics program has received in a single year during the nearly 10 years for which USA TODAY Sports has examined spending and revenue data.
The nearly $47 million subsidy from an institution that partially relies on taxpayer funds means the state university subsidized 59.5 percent of the athletics department's total allocations. That's the largest percentage since 2005 — a 15.8 percent spike from last year — and its total allocated revenue is an amount that is greater than the total athletic operating revenues of all but 53 of Division I's 228 public school athletics programs in 2011-12.
The $46,996,697 total subsidy, which includes $9,877,989 in student fees, $12,601 in government support specifically earmarked for the athletics department and $37,106,107 in direct institutional aid, is by far the most an NCAA Division I public school athletics program has received in a single year during the nearly 10 years for which USA TODAY Sports has examined spending and revenue data.
The nearly $47 million subsidy from an institution that partially relies on taxpayer funds means the state university subsidized 59.5 percent of the athletics department's total allocations. That's the largest percentage since 2005 — a 15.8 percent spike from last year — and its total allocated revenue is an amount that is greater than the total athletic operating revenues of all but 53 of Division I's 228 public school athletics programs in 2011-12.
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Moontan
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Outrageous!
I have nothing against the students at NJ State, nor that state's tax payers, but I would not be upset if their program continues to sink further once they enter the B1G. Heck, I'll likely chuckle.
As Delany indicated upon his first visit to the football stadium... it could be a great venue after they expand the seating. That's just what they need, another expensive stadium expansion to hold the invasion from opposing B1G fans.
HtownOrange
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So you are saying the less than $30MM B1G payout is not sufficient to cover $48MM Rutgers athletic shortfall expense, what are you, an accountant? (Sarcasm off)
On the serious side is there any plan to reduce the annual shortfall? If not, the B1G will need to magically make everyone in Jersey and Maryland pay a cable premium for the BTN.
We ridiculed last year's shortfall of $26MM and then they nearly double it. I hope for Jersey residents sake that the school is not trying to impress anyone with big numbers.
HtownOrange
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I couldn't wish this on anyone. I dislike Rutgers but this news leaves me with a little sympathy for NJ residents who will ultimately foot the bill. At what point does the school administration stop the hemmorhaging in the AD? B1G money is not sufficient to off set this even if they received a full share immediately. Could we be witnessing history in which a school athletic department is bankrupted?
It is good to be a Syracuse fan in so many ways.
HtownOrange
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Well said. How are NJ taxpayers and major donors not upset with this?
Moontan
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Once the previous stadium expansion is paid off and they're done with payments to previous (and embarrassing) coaches, the shortfall could go down a bit.
That's probably a good thing for them because it doesn't look like their former RB will be in a position to donate.
That's probably a good thing for them because it doesn't look like their former RB will be in a position to donate.
HtownOrange
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A quick review of one time expenses includes AAC buyout, buyout for media deal, Permitting and coach buyouts, approximate total around $20MM. Even so, $28MM remains unfunded. Rutgers hopes that the B1G payout will cover the shortfall. B1G payout this year is projected at $25MM, or $15.5MM more than the AAC this year. Add to that the fact that Rutgers dies not get a full share for some time and the shortfall with remain at least $10MM - $15MM annually.
Ticket sales should increase somewhat at least while Rutgers is new to the B1G. Regardless, they will run deficits annually and may never actually pay back what has been loaned to them.
Ticket sales should increase somewhat at least while Rutgers is new to the B1G. Regardless, they will run deficits annually and may never actually pay back what has been loaned to them.
HtownOrange
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Thanks, I missed that obvious issue. That's why you are the accountant and I am not. Kudos!
Of course, this only makes things worse on the Rutgers AD budget. Glad I am not a NJ taxpayer!
JSOrange97
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As a NJ resident, this makes me upset, but the way state funding is allocated to education in this state as a whole is a joke.
What makes me laugh about the RU nonsense is that their fans believe that the B1G payout will be a pot of good that will allow them to hire a big name (read $$$) coach after Flood fails again this year. They just can't afford it, as their expenses will be going up significantly in the B1G (travel). They need to upgrade their hoops facilities as well, and their football "bubble" won't compare to other facilities in not just the B1G, but other schools as well (including our IPF.) They're facing a losing battle in terms of spending. I'll bet Delany is ecstatic to be adding two schools with such serious financial issues in athletics.
What makes me laugh about the RU nonsense is that their fans believe that the B1G payout will be a pot of good that will allow them to hire a big name (read $$$) coach after Flood fails again this year. They just can't afford it, as their expenses will be going up significantly in the B1G (travel). They need to upgrade their hoops facilities as well, and their football "bubble" won't compare to other facilities in not just the B1G, but other schools as well (including our IPF.) They're facing a losing battle in terms of spending. I'll bet Delany is ecstatic to be adding two schools with such serious financial issues in athletics.
HtownOrange
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Doesn't the Orange lacrosse program generate that much? O.K., a bit much on hyperbole but our football and our basketball out-generate Rutger's entire AD.
HtownOrange
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After this rough stretch in hoops, we still have this one consolation, we are not Rutgers fans. Even on a slide, we will play in the Big Dance.
Louie&Bouie
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http://www.nj.com/education/2014/03/rutgers_university_big_ten_subsidy.html#incart_river
My favorite part of the article:
"Combined with subsidies doled out to athletics over the past two years, the projections suggest the school will end up giving the department a quarter billion dollars over 11 years to cover shortfalls in its budgets."
They're selling $10 tickets for their final home game against Cincinnati as well, if anyone is interested in a serious beat-down. Haven't made the tournament since 1991. And Eddie Jordan is already talking about his "7-year plan" to resurrect the program. 7 years. LMAO.
My favorite part of the article:
"Combined with subsidies doled out to athletics over the past two years, the projections suggest the school will end up giving the department a quarter billion dollars over 11 years to cover shortfalls in its budgets."
They're selling $10 tickets for their final home game against Cincinnati as well, if anyone is interested in a serious beat-down. Haven't made the tournament since 1991. And Eddie Jordan is already talking about his "7-year plan" to resurrect the program. 7 years. LMAO.
texascpa
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Wait, I know I read over at Buttgers forums that the new B1G money was going to put an end to the subsidies. Were they wrong over there?
Oh, and I love this paragraph:
Two things: 1) they are smoking the good stuff if they believe they can keep expenses to 3 percent. That won't even cover wage increases. and 2) The numbers are skewed if they don't count capital improvement costs. Cash for that has to come from somewhere, either bonds (which will be paid back with taxpayer/student money), or directly from the school. I'm doubting some big donor steps up and funds it. Rutgers doesn't have a T Boone Pickens standing on the sidelines.
Edit: okay, I just read that whole article. Where the hell did that Chief Financial Officer get her degree? It is obvious she A) doesn't know what she's doing and/or B) is vying for a political career.
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HtownOrange
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I liked part about the plan being based on the mega deal BTN is supposed to close and on increased attendance by Big 10 opposition ("We cannot get the 20+ million people in the metro to come to our games but half of Iowa and Nebraska will stop by for a few hours"). Good luck with that.
Also, Rutgers will need at least $183 Million over nine years, or $20+Million each year average for almost a decade. Not sure how they "break even" with a quarter billion in debt. Must have government agents doing the math.
It is good to be an Orange fan!
Also, Rutgers will need at least $183 Million over nine years, or $20+Million each year average for almost a decade. Not sure how they "break even" with a quarter billion in debt. Must have government agents doing the math.
It is good to be an Orange fan!
JohnCuse44
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How do you "resurrect" something that was never alive.
anomander
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There were actually posters who claimed to have inside info saying that they will have $4mil to spend on a HC next season. Not a $4m for the whole coaching pool, but $4mill for the HC. The best part was 75% of them bought it. And they wonder why we call them delusional. Without looking up coaches salaries I believe that would put them in the top 10
HtownOrange
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Well, they are the "sleeping giant" so they probably need a big salary.
BlazeOrange
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I guess Condoleeza Rice just doesn't meet the high standards established by past speakers at RU:
http://www.foxnews.com/us/2014/03/0...est-condoleezza-rice-as-commencement-speaker/
http://www.foxnews.com/us/2014/03/0...est-condoleezza-rice-as-commencement-speaker/
