A Glimpse of What a Financial Disaster Looks Like...
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“Total operating expenses increased by $22.7 million, or 19%, in the current year. The majority of this increase was related to contractual payments to the prior football coaching staff.”
Revenues from ticket sales increased each of the last three years ($14 million from 2017-19), and we took a big hit in the last year paying out on Petrino’s contract. Got it. Pretty sure I know what the 2019-20 trend line is going to look like when that single year increase returns to normal while revenues increase yet again....
If we have to buy out unsuccessful football coaches every few years, then you’d be right to be screaming about financial disaster.
Revenues from ticket sales increased each of the last three years ($14 million from 2017-19), and we took a big hit in the last year paying out on Petrino’s contract. Got it. Pretty sure I know what the 2019-20 trend line is going to look like when that single year increase returns to normal while revenues increase yet again....
If we have to buy out unsuccessful football coaches every few years, then you’d be right to be screaming about financial disaster.
The two year decline in net position was around $32 million.
But based on the "trajectory" that U of L had been on, the deficiency is closer to $38 million compared to where the original trendline would have landed us ($160 million).
This also doesn't include the $10 million we just handed over to Pizza Guy THIS fiscal year.
In a word, staggering...
But based on the "trajectory" that U of L had been on, the deficiency is closer to $38 million compared to where the original trendline would have landed us ($160 million).
This also doesn't include the $10 million we just handed over to Pizza Guy THIS fiscal year.
In a word, staggering...
Did we pay out $10 million? Or did we reach an agreement where Schnatter doesn’t have to pay us $10 million in future years? That little detail is pretty significant for the 2019-20 numbers.
$2 million each year for five years. Same as the staffing buyouts. Technically, we haven’t paid Petrino $14 million either.
I’ll post a breakdown on operating and non-operating cash flows before the end of the day...
Thought Zipp found a copy of one of my bar tabs down @ 4th Street back in the day. Shew....#Noincrimination
Zipp; You seem to have an excellent grasp of reading and interpreting Financial issues. I wish I could do as well. Does it seem to you that our upward trajectory was moving far faster that our management at the University was able to handle and they did some things that were not suitable and probably not ethical. I hope that the changes that have been made are more in line with the current needs. That stability will bring back trust in large donors.
True on Petrino, but it’s safe to assume that we’ve paid out the balances on most of the rest of the old football coaching staff.
The black line is what Doc Ramsey affectionately referred to as "trajectory." I sure wish that's where we still were. His exit was in 2016, Jurich's in 2017.
This news isn't going over too well on the premium side BTW.
LINK
Can you add a secondary axis to graph scandals as well as coaches not meeting minimum expectations?
Good questions...
If you look at NCAA published data for athletic departments nationwide, you'll be surprised to find that U of L has only been growing in line with--not well ahead of--other schools nationwide. For example, FBS revenue growth nationally averaged almost 8% between 2004 and 2016...
2004: $28.214 million median total revenue
2016: $68.614
LINK
(see p. 12)
The scary part is if this growth continues nationally, U of L will fall further behind. We can't afford a hiccup or we'll never recover lost ground anytime soon.
As far as whether our growth is too quick, the data above on U of L net position show a 5.7% growth rate. So no, I don't think we have to grow our financials at that rate--we MUST grow at that rate. As you hear said, we're in an "arms race"...
Yeah, but there's no way that money was significant, a few million or less. None of them are paid enough money.
And there was no incremental cost unless assistant coaches had multi-year contracts. You just don't renew a one-year contract...
Where is the line that shows what Doc Ramsey and Co affectionately stole from UofL?The black line is what Doc Ramsey affectionately referred to as "trajectory." I sure wish that's where we still were. His exit was in 2016, Jurich's in 2017.
This news isn't going over too well on the premium side BTW.
LINK
If you find me verified data for it, I'll enter it on the graph.
But I'm not waiting in front of my computer. The guy was fired more than three years ago, and all we see publicly is an old boob in depositions...
Where’s your chart/graph showing the decline in scandals? I’m sure that financial hits bother you more than the embarrassment that the scandals brought, right?
Now you are talking apples and cumquats. At least zipp shows some intelligence, although aggravating at times, with his postings. Grover only knows how to drive a fake police car and hate THE UofL. I’ll take zipp any ‘ole day over the total ignorance of a uahkay fan.
GO CARDS - BEAT EVERYBODY!!! God Bless America!!!
If you can’t quantify it, it doesn’t matter. You’re running a business, not a church or community service.
And esp. when “FU” clowns in charge bring much of it on themselves. Keep defending them...
Here is the thing I don’t understand with Louisville fans. Ramsey and Jurich bought in 100’s of millions of dollars and gave themselves bonuses. Bendapudi and Tyra bring in 10 million and people think we are better off.
I like the hire by Tyra that he made with Mack and Satterfield but it is easy to pull out a big check book and hire somebody good. Thanks to Ramsey and Jurich that was possible. I am still waiting for Tyra and Bendapudi to raise the same amount of money. Right now they aren’t even close and neither one of them show they have the ability to do so.
I like the hire by Tyra that he made with Mack and Satterfield but it is easy to pull out a big check book and hire somebody good. Thanks to Ramsey and Jurich that was possible. I am still waiting for Tyra and Bendapudi to raise the same amount of money. Right now they aren’t even close and neither one of them show they have the ability to do so.
Reverse the situation. Let’s say Tyra and Bendapudi we’re in charge of the show and the same scandals unfolded in the exact same fashion. Then TJ and Ramsey were hired - brand new to the university. Tell me how much dough you think they would have raised in their first two years?
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So your saying that Tyra and Bendapudi’s lack of fund raising is because of Ramsey and Jurich. If that is the case then the powers that be really screwed up by firing them. I always thought their firings were political it was a way to bring our program down. We were getting bigger and richer than sUcK and we were a threat.
Did you miss this part of the sentence: “and the same scandals unfolded in the exact same fashion”
I'd like an apologist to eventually say how much time the new regime gets to start showing progress financially. Ramsey's been gone close to 3-1/2 years, and Jurich has been gone more than two years.
When will more fans start attending games to support new coaches in the major sports who are wildly successful?
And while you're at it, help me with a little psychology... How does it make sense that U of L fans wouldn't support people who are obvious improvements over their predecessors?
I'm getting tired of waiting when all I hear are excuses.
When will more fans start attending games to support new coaches in the major sports who are wildly successful?
And while you're at it, help me with a little psychology... How does it make sense that U of L fans wouldn't support people who are obvious improvements over their predecessors?
I'm getting tired of waiting when all I hear are excuses.
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If you don’t like the current administration then find another team to be a fan of! We won’t be offended if you go elsewhere....
I was here way before there were clowns in charge, and I predict I will outlast them just like I do here with posters who come and go. Hate it for ya...
You evidently went brain dead after the first post above...
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