Where has the ACC TV money been spent?
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Shrmdougluvr
Give it all to me fool!
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The James Arthur Boeheim et al. Legal Defense Fund? :noidea:
Orange Rust Belt
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If this new found money isn't going towards increasing the budget for a competent coaching staff then the university is failing us as fans. Indoor facilities are a norm now, so in order to have any sort of edge we really need to pay a legitimate coaching staff accordingly.
OrangeXtreme
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It's going towards paying off our $7.5 million Big East exit fees.
Full_Rebar
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Athletics isn't paying all of that exit fee.
http://www.syracuse.com/news/index....y_senate_approves_big_east_exit_fee_plan.html
javadoc
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Interesting question - do we know for a fact whether we have received an ACC payment yet? How much? When do we receive monies each year?
july is when acc distributes $
javadoc
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Did we receive a payment in July 2013? July 2014? How much?
OrangeXtreme
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The ACC contract is supposed to average $17 mil over its' 14 year length.
The early checks will be around $12 mil, and by 2027 we'll be up over $23 mil.
thought that was before the nd addition which was supposed to bump it up to 19 or 20
The ACC gave us a full share in July for 16 million. That 12 million figure was before the ACC expanded with Syracuse/Pitt it increased the payout to 16 million.
Syracuse when they withdrew from the Big East had to give 2.5 million with the letter. We owed the Big East 5 million. Assuming the AD had to pay all of 5 million remaining and the article linked by Full Rebar completely debunks that since it shows the AD will pay 25% of the 7.5 million( 1.85 million). Where is the money going? Is football getting a cash infusion?
I am assuming the money was used as collateral to get the IPF green lit. I am just saying I hope the FB coaching staff budget was increased since FB was responsible for 80% of that money.
Moontan
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Paying off old debts...
When you buy a lot of new toys they eventually have to be paid for.
Things should be better in another year or so... assuming the cash cow that is men's hoops keeps generating revenue.
When you buy a lot of new toys they eventually have to be paid for.
Things should be better in another year or so... assuming the cash cow that is men's hoops keeps generating revenue.
omniorange
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I believe conference payouts are made throughout the year, while adjustments are made at the last payout in either June or July. I think it's June, since I believe a conference fiscal year begins July 1, but it might be July.
Cheers,
Neil
I am curious assuming we paid all of the 7.5 million with the 16 million we received. Any idea what debts that were in the range of 11 million(as 2.5 million of the 7.5 was paid in 2011)?
I assumed the money was what allowed the BoT to green light the IPF. As fundraising for that project wasn't as good as we wanted. The cost of the IPF was 13 million. I assumed that the bulk of the ACC money went towards that 13 million.
javadoc
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When did we receive our first regular paycheck from the ACC? Haven't got a plain answer to that yet.
javadoc
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Perhaps they paid off the balance on the Melo center. I would guess that they certainly back-filled the football IPF up to the level that is ordinarily needed to greenlight the project. My guess only.
http://espn.go.com/college-football...917-million-total-revenue-2013-14-fiscal-year
We got a check in June 2014. When the ACC distributed funds for the 2013-2014 academic year. The ACC gave Syracuse/Pittsburgh full credits. Each school got 20.8 million NOT 17 million.
omniorange
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We would have begun receiving payments during our first year, which would be 2013-14 and we received a full share, not a partial payment. So whenever the 1st payout for the 2013-14 was is when we received our first payout.
Cheers,
Neil
omniorange
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Those checks don't come all in one lump sum. They are distributed throughout the year. And the 20.8 million includes all revenue, not just TV money in case anyone was wondering.
Cheers,
Neil
Your probably right on a cash flow basis the payments are divided throughout the year. Good point on the 20.8 being all money that includes NCAA tournament credits, bowl money on top of the TV money. TV money is 17 million of the 20.8 million. Football money is the majority of all the money these conferences earn.
javadoc
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Great info - thx.
My uninformed guess is that we ride out the next two years with Shafer & Lester. Shafer will be given some leeway to spend on any new assistants for spots that open up, possibly including keeping McD on staff at a high relative level. If it's clearly not working at that point they buy him out after year 4 and go big on the next hire, by which time the books will be in better shape. And possibly with a new AD at the helm.
Scott Shafer can not be given year 4 unless we win 6 games next year. If we don't go bowling next year and Scott Shafer was retained that would break the camel's back and I would give up my season tickets.
