NEWS FLASH: Slapd!ck student-athletes getting free rides on KY taxpayers...

[zipp]

John Ramsey mentioned this little factoid (my translation in the header) at the very end of the R&R Show today...

Podcast

LPT athletic schollies are NOT paid by their athletic department as they are U of L. So net that number--in the range of $15 million would be my guess--off of whatever "profit" LPT athletics reports every year. Anyone know that number?

At the same time, this revenue stream to the academic side at U of L is THIRTY FREAKING PERCENT of the U of L athletics budget. The total of tuition, books, room & board for scholarship athletes plus walk-ons who pay their own expenses is a whopping $30.6 million annually...paid BY U of L athletics TO academics.

[That damn Jurich is just as amazing on administrative leave.]

As I understand, these numbers were furnished to Ramsey by Kelly Dickey...

 

[Cardinal Cash]

So what you're saying is, the courier journal wrote a hit piece about u of L athletics being in the red and UK doesn't even pay their player's scholarships yet this goes without being discussed? Looks like bad PR from U of L yet again and the CJ taking advantage of it yet again.

 

[zipp]

So what you're saying is, the courier journal wrote a hit piece about u of L athletics being in the red and UK doesn't even pay their player's scholarships yet this goes without being discussed? Looks like bad PR from U of L yet again and the CJ taking advantage of it yet again.

Well, if LPT athletics reports less than a $15 million profit annually, yes, they're losing money after deducting the educational expenses of their athletes.

$15 mil is my estimate for that cost; the exact LPT number can be calculated...

 

[BigBlueFanGA]

John Ramsey mentioned this little factoid (my translation in the header) at the very end of the R&R Show today...

Podcast

LPT athletic schollies are NOT paid by their athletic department as they are U of L. So net that number--in the range of $15 million would be my guess--off of whatever "profit" LPT athletics reports every year. Anyone know that number?

At the same time, this revenue stream to the academic side at U of L is THIRTY FREAKING PERCENT of the U of L athletics budget. The total of tuition, books, room & board for scholarship athletes plus walk-ons who pay their own expenses is a whopping $30.6 million annually...paid BY U of L athletics TO academics.

[That damn Jurich is just as amazing on administrative leave.]

As I understand, these numbers were furnished to Ramsey by Kelly Dickey...

That simply isn't true Zipp.

 

[zipp]

That simply isn't true Zipp.

Bring your own evidence then, slappy. This stuff is subject to open records requests.

"Elite program," my a$$...

 

[zipp]

Here's another podcast where Deener is quoting in more detail from what sounds like the same document. Cue forward to around the 12-1/2 minute mark, and his remarks run for several minutes incl. the $30.6 million figure and the number of athletes and other students involved. And make sure you're listening to the file for Hour 2 on October 9th...

LINK

 

[BigBlueFanGA]

Bring your own evidence then, slappy. This stuff is subject to open records requests.

"Elite program," my a$$...

Sure, 2014 athletic department revenue and expenses. Just go to the last page. It's all quite evident. The charts for each year are similar. I'll find 2016 for you if that's really necessary. http://www.ukathletics.com/documents/2015/8/1/55bd2b56e4b073340d387748.pdf

 

[zipp]

Sure, 2014 athletic department revenue and expenses. Just go to the last page. It's all quite evident. The charts for each year are similar. I'll find 2016 for you if that's really necessary. http://www.ukathletics.com/documents/2015/8/1/55bd2b56e4b073340d387748.pdf

So, less student activity fees of $0.8 million, slappies are losing money? Instead of profit, there's a loss??

I thought that was a big deal in this State?...

 

[cuthbert]

UK Athletics’ partnership with UK’s academic enterprise reflects a steadfast commitment to putting students first. UK Athletics is one of a handful of programs in the country that is self-sustaining. That means their own revenues pay for all of their own expenses, including overhead, athletic scholarships, coaches’ salaries, facilities, among others.

In 2013, Athletics contributed $65 million to the construction of the Academic Science Building in the heart of UK’s campus, which will serve more than 35,000 students annually. Athletics also provides funding of $1.7 million in academic scholarships annually.

UK Athletics’ status as a self-sustaining unit ensures the University does not need to subsidize its activity with tuition revenue or state appropriations. http://www.uky.edu/see/UK4KY/fact-fiction

 

[DerekMcPwn]

UK Athletics’ partnership with UK’s academic enterprise reflects a steadfast commitment to putting students first. UK Athletics is one of a handful of programs in the country that is self-sustaining. That means their own revenues pay for all of their own expenses, including overhead, athletic scholarships, coaches’ salaries, facilities, among others.

In 2013, Athletics contributed $65 million to the construction of the Academic Science Building in the heart of UK’s campus, which will serve more than 35,000 students annually. Athletics also provides funding of $1.7 million in academic scholarships annually.

UK Athletics’ status as a self-sustaining unit ensures the University does not need to subsidize its activity with tuition revenue or state appropriations. http://www.uky.edu/see/UK4KY/fact-fiction

And just as a reminder, that $1.7 million is for academic scholarships, effectively a subsidy to the university. UK Athletics spends more than $13 million each year to pay for the scholarships of its athletes.

 

[CATSrock]

John Ramsey mentioned this little factoid (my translation in the header) at the very end of the R&R Show today...

Podcast

LPT athletic schollies are NOT paid by their athletic department as they are U of L. So net that number--in the range of $15 million would be my guess--off of whatever "profit" LPT athletics reports every year. Anyone know that number?

At the same time, this revenue stream to the academic side at U of L is THIRTY FREAKING PERCENT of the U of L athletics budget. The total of tuition, books, room & board for scholarship athletes plus walk-ons who pay their own expenses is a whopping $30.6 million annually...paid BY U of L athletics TO academics.

[That damn Jurich is just as amazing on administrative leave.]

As I understand, these numbers were furnished to Ramsey by Kelly Dickey...

Not sure your information is accurate Zipp but anyway, for those that are interested - from UK website:
This summer, the University of Kentucky Board of
Trustees approved UK Athletics’ proposed 2014-15 budget
of $117.7 million as part of an overall University budget
that surpassed $3 billion for the first time in history. In
spite of growing expenses due to facility improvements,
travel and salaries, UK Athletics will once again operate as
one of the few self-sufficient departments in the nation,
receiving no state or University funds. UK Athletics will
offset the escalating expenses facing it with added revenue
from its new multimedia rights deal with JMI Sports,
capital gifts and football ticket sales.
In addition to operating with a balanced budget, UK
Athletics contributes meaningfully to the academic mission
of the University. UK Athletics pays full tuition rates to
the University for 340 student-athlete scholarships while
continuing to fund $1.7 million annually in academ-
ic scholarships for UK students not affiliated with UK
Athletics. Construction also began this summer on a new
$100-plus million Academic Science Building, for which
UK Athletics is providing nearly two-thirds of the funding.
Beyond the $65 million for the Academic Science
Building that will be completed in approximately two
years, UK Athletics has contributed more than $130 mil-
lion to the University since 2002, reaffirming the symbiotic
relationship between the two

 

[billoliver40]

Just don't see it Zipp. UK athletics is so far not only self sustaining, paying student schollies, it actually contributes back to the academic side .

In all honesty, there are about twenty Universities nationwide where the athletic area is self financed. Most of those are in the SEC and have to do with the massive football revenues.
Kentucky's basketball team is one of a handful nationwide that does not operate in the red.