No. It’s not. Unless the terms are “you don’t have to pay back the loan”, then it doesn’t matter what the terms are.
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CU Buffs hire former Minnesota OC Mike Sanford as their new OC
- Thread starter Creebuzz
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Except we know the loan was used to cover the deficit from the lower revenues in 2020 from Covid. The loan was used to cover losses. Our competition didn’t have to take out a loan to cover their losses.
The respective schools covered the deficit from other sources. Either from operating revenues elsewhere in the school or from existing liquidity.
bigbang2
blindslighted
But every one was having financial problems not just CU. Where is CU going to find the money? From what sources? I am asking because I have no idea.
CU has a lot of resources. The school itself isn’t hurting for money. Quite the opposite, in fact. The annual operating budget for CU-Boulder is over $2Billion per year. The AD budget shortfall was something like $18MM. That’s less than one percent of the operating budget for the entire campus.
Do we know that's all it was used for?
Cancer research, duh.
bigbang2
blindslighted
But CU was losing money due to Covid like many universities accross the country. Operational budget is not the same as budget deficit. 18 million budget deficit is a lot. I know it is not popular, but I think Big Phil made the right decision. The fans won't like it, but long term it is the right decision. One way or the other CU would still have to get a loan to cover the AD. You also don't want to encourage irresponsible spending.
This.
It's one thing if 11 of 12 take the loan. It's another if 6 of 12 do.
And then there's the situation we're in. The only one of twelve to look at the terms and take this "great, wonderful deal."
Bliff Cranch
Well-Known Member
Chancellor’s or their equivalents across academia are recruited for opportunities elsewhere all the time, just like head football coaches. If he’s some sort of administrative wizard, one might ask why has Phil been at CU forever?
He’s an idiot.
Are we getting any exciting Portal additions soon? That means infinitely more to me than a loan. Rates have been historically low. It’s gonna be okay.
Will this influx of new coaches coax more talent in the door? This is the only thing I care about, aside from Turley working his
magic in the weight room. LFG.
Will this influx of new coaches coax more talent in the door? This is the only thing I care about, aside from Turley working his
magic in the weight room. LFG.
This.
If they're reasonably good at their jobs they get hired away by bigger, better funded universities. See: Gee, Gordon.
CU tries to run the A/D as a standalone P&L. Our competition runs it part of a bigger Sales & Marketing expense overhead. That is a huge difference.
College sports is no longer run as a stand alone business. It's instead the face of the University. Either you want that or you don't. Ivy League said no thanks.
Did you know they call CU the Harvard of the West?
I think it will be quiet for a bit since the enrollment period is full and there's the 2nd High School signing day coming up. CU will continue to recruit in the portal, but I wouldn't expect a lot of movement until after Spring Ball, where there will be more entries from all teams. Getting transfers here for the spring was huge, hopefully KD will be very particular from here because having a couple open scholarships could prove to be very strategic come summer.Are we getting any exciting Portal additions soon? That means infinitely more to me than a loan. Rates have been historically low. It’s gonna be okay.
Will this influx of new coaches coax more talent in the door? This is the only thing I care about, aside from Turley working his
When 11/12 say "no" and you're #12, it's safe to assume you're the outlier. When you've also had the worst football record among the 12 since you joined, it's safe to assume you're not the outlier because you're running things smarter than everyone else.
one more note about this loan, recall that some Pac 12 schools, including Stanford, actually dropped sports during Covid. CU didn't.
if we consider the possibility that taking the loan prevented us from dropping sports where peer institutions did, maybe the loan wasn't a horrible decision.
if we consider the possibility that taking the loan prevented us from dropping sports where peer institutions did, maybe the loan wasn't a horrible decision.
We can’t drop any sports. We are basically at the minimum to be considered D-1.
SINKRATZ
PhD in Analogy
Yeah but how many varsity sports did Stanford have compared to CU before COVID? Pretty sure Stanford still has more varsity sports than anyone else in conference even after dropping some.
edit: looked it up and Stanford has 24 varsity sports (most in the conference), while CU has 13 (least in the conference). Even Cal, with all their budget issues, carries 23 sports.
I don't think that's correct. we have 6 men's and 9 women's, I believe the NCAA would allow us to drop one women's sport.
not disagreeing, but wrt whether taking the loan was a good decision at the time it was made, my point is that if it saved an entire varsity sport at CU it may not have been a horrible decision. That Stanford had a plethora of varsity teams above the NCAA minimum speaks more to their fiscal situation and decisions made for decades leading up to Covid.
Title IX prevents us from dropping any womens sports.
that is not true
Pretty sure it is. We have more womens sports, but still have far more male athletes. We are still unbalanced.
He's got bigger problems like fixing his ****ing printer already.
Why did t we just take out an 18 months same as cash loan? That’s what I do.
Just the numbers, best I can figure with online calculators: Say we borrowed $50,000,000 at 3.75%. Over 10 years to pay it back, we would pay a total of $60,000,000.
In light of the numbers at play with potential TV revenue upgrades at some point over the next 10 years, one would have to imagine that $10 million would not be a huge deal, especially if you can get some on-field improvement and bowl game revenue during at least some of those years.