Men’s basketball was conservatively budgeted, but still is expected to post a revenue shortfall in the neighborhood of $2 million.
Nick Bowes, Chief Financial Officer for U of L athletics: “Men’s basketball has been a challenge from a sales standpoint.”
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Sounds like we lost the Holiday Bowl twice!
Wild that we took out an insurance policy to protect us against having to pay out performance bonuses for football. I guess that’s one positive about having Kenny Payne as the basketball coach: no need to pay for that insurance!
Wonder whether UofL will be able to get any sucker to insure us against having a great football season in 2024?
Wild that we took out an insurance policy to protect us against having to pay out performance bonuses for football. I guess that’s one positive about having Kenny Payne as the basketball coach: no need to pay for that insurance!
Wonder whether UofL will be able to get any sucker to insure us against having a great football season in 2024?
I'm surprised it's only $2M. Kenny is killing his school and he doesn't give a damn.
Here are year-over-year changes in the ULAA total operating budgets since 2018. Covid was 2021, so 2022 is WRT 2020...
2019 +3.1%
2020 -3.1%
2022 +3.2%
2023 +6.5%
2024 +8.1%
This year, we budgeted for the largest increase in revenues and expenses since this regime took over. The annualized change for the five years prior to 2024 was +1.9%.
Inflation is a factor, but I'd call that aggressive budgeting in 2024 across the board...
2019 +3.1%
2020 -3.1%
2022 +3.2%
2023 +6.5%
2024 +8.1%
This year, we budgeted for the largest increase in revenues and expenses since this regime took over. The annualized change for the five years prior to 2024 was +1.9%.
Inflation is a factor, but I'd call that aggressive budgeting in 2024 across the board...
Regrettably, there are still a lot of UL fans who are into denial as to just how serious this University’s financial status is right now.
Honestly, I believe Heird would have terminated Payne before now if there was anyway he could obtain the resources to fund the payout, plus pay for a replacement.
Honestly, I believe Heird would have terminated Payne before now if there was anyway he could obtain the resources to fund the payout, plus pay for a replacement.
I haven't talked much about this on the free side of the pay wall. But I've hinted at what I've run into behind the scenes with athletics the last few months...
Since this new guy has taken over ULAA finances, they've gotten minimalist and protective in what they're reporting. They've "streamlined" is the explanation I've been given. They no longer are producing comprehensive GAAP reports like a periodic, unaudited balance sheet and income statement.
A black box is now even more opaque.
No manager worth his salt will agree that a problem situation indicates LESS information is needed. And obviously, a development like that attracts suspicion. I'm not suspicious by nature, but I am thorough and relentless. This is obviously a subject that interests me, and I can tell when something starts to smell...
Since this new guy has taken over ULAA finances, they've gotten minimalist and protective in what they're reporting. They've "streamlined" is the explanation I've been given. They no longer are producing comprehensive GAAP reports like a periodic, unaudited balance sheet and income statement.
A black box is now even more opaque.
No manager worth his salt will agree that a problem situation indicates LESS information is needed. And obviously, a development like that attracts suspicion. I'm not suspicious by nature, but I am thorough and relentless. This is obviously a subject that interests me, and I can tell when something starts to smell...
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