Good news for UofL athletics. I believe it will be naming rights to stadium. Things looking UP(S).
Major Gift Announcement Today
- Thread starter Knucklehank1
- Start date
I donate at minimum $50 in beer revenue each game...but does anybody schedule an announcement for MY contribution to UofL Athletics? Noooooo!!! 
I donate at minimum $50 in beer revenue each game...but does anybody schedule an announcement for MY contribution to UofL Athletics? Noooooo!!!
They do. You’re just too drunk to remember it!
Entirely possible. Some nights they could put me on the Jumbo Tron and I wouldn't know it.
You mean picture you on the Jumbotron or place you on top of the Jumbotron?
He's in consultation with Jurich and company on how to spin this.
As I understand it has something to do with leadership development of student athletes. Not sure how it’s going to be used
Your $50 at least goes into a general revenue account...I donate at minimum $50 in beer revenue each game...but does anybody schedule an announcement for MY contribution to UofL Athletics? Noooooo!!!
Thanks for asking...
It's $0.4 million per year, and it's ZERO into a revenue account to meet operating expenses.
IOW it's a nice headline...
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Yes, we are all happy about the UPS investment and I think it may ultimately be followed up by additional contributions from them.
"Vince" announced the loss about six months ago. Ask him. I'm just repeating what your boy told the rest of us...
I reiterate.
Youre elated about the perceived loss.
UofL will recover from the previous Administration, and coaches fiasco.
Very much to your chagrin-
We are paying Bobby until his contract would have ended 2023 I believe? $14 mill total. Athletics received a $5 million dollar commitment today. You’re saying roughly 0.5 mill a year , so about half of that will be available to pay off Bobby. Either way, $2.5 million to athletics over the remaining period in the contract that that we didn’t have prior to today.Thanks for asking...
It's $0.4 million per year, and it's ZERO into a revenue account to meet operating expenses.
IOW it's a nice headline...
I experience neither elation nor chagrin. I just analyze and report numbers...
I don't know what brought Petrino into the discussion, but he's being paid a little north of $4.5 million per year for the next three years. So, I guess you could look at the UPS donation as paying for a little less than 10% of that buyout money annually.
The problem with that analysis is that UPS isn't giving the money to U of L to pay off Petrino. Unless someone else steps up who will, "Vince" has to come up with 100% of that money on his own.
I'm not really sure how this UPS gift helps U of L address ANY of the expenses that it's currently struggling with. Maybe someone can educate me...
The donation is for athlete academics as described here.
“The gift will be paid to Cardinal Athletics over the next 13 years. The money will be used to boost academics for student-athletes by establishing the UPS Leadership Academy. The focus will be on sophomore athletes and teaching them to develop a leadership style on the team, in the classroom and in the community.
So, unless the athletic department had already planned to add this program and fund it, this gift doesn't enhance the athletic fund. It is a great thing for UPS to do, and will certainly benefit the student athletes, though.
No arguments there. It "grows athletics" as I like to say, which is one of the AD's responsibilities. That's what this department has done over the last couple decades. The issue for "Vince" is you can't grow it HERE and shrink it THERE just because someone gives you what are known as "restricted funds" on a financial statement, "restricted" for a time period or purpose. "Vince" is in charge of athletics, and he gets to decide what's important, not UPS.
Obviously, you don't turn down the money, but it's not the same as "take this money--do with it what you want." As I understand it, that's what a guy like Owsley Frazier did for U of L. But I'm not blaming UPS either. Most large benefactors want there to be some positive press in exchange for their donation. They're often businesses, and they have owners and shareholders who demand that.
The question is, does this dispel any concerns about "Vince" raising money for athletics? On balance and considering who it is and what the money will be used or, most of my concerns remain. The Hickman-Camp Fund still needs almost $13 million to bring it back to the balance it had when "Vince" took over...
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