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Post by bfoley82 on Jan 6, 2023 14:30:26 GMT -5
BU's spending may still be influenced by what they had to do to be competitive in the ACC 10 years ago. When did BU join the ACC? ;-) |
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coacht
Climbing Mt. St. James
A father of...that's gotta count for something!
Posts: 77 
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Post by coacht on Jan 6, 2023 15:39:07 GMT -5
BU's spending may still be influenced by what they had to do to be competitive in the ACC 10 years ago. When did BU join the ACC? ;-) Make that the AEC. I'm in SoCal, you're all "Atlantic" to me... |
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Post by Pakachoag Phreek on Jan 6, 2023 15:40:58 GMT -5
It is not merely a matter of supporting, --- at the FCS level, its pretty axiomatic that the more $ you spend on a sport, the more money you lose on that sport. That also goes for the majority of FBS. Generated revenue streams are pretty much capped, because of stadium/arena size and lack of media rights and bowl games. The 'problem' for HC is that the public universities typically spend less on a sport than do private institutions, as the cost of attendance (on which scollie money is based) is much less. IIRC, cost of attendance at SDSU is around $17-18,000. so out-of-pocket expense for a football player on a half scollie at SDSU is about 1/4 or less ($9,000) than the out-of-pocket expense for a football player on a half scollie at HC ($40,000). ^^^ And which is why HC would likely have trouble competing in a conference where public universities predominate. Boston College probably loses as much money on its sports as Holy Cross does, even with BC's revenue from the conference and media rights. If the dollars come from us the school doesn't lose a penny If we want to win or as Scalia indirectly suggests give until it hurts or don't complain at the heavenly gates If donors keen on supporting athletics gifted HC with about $100 million in new endowment funds, the annual distribution of that restricted endowment $100 million would pay for the current $4+ million shortfall in the Olympic sports. But basically what you are calling for is akin to what Duke basketball alumni did in creating the Legacy Fund for men's hoops in Durham. IIRC, the minimum contribution was/is $1 million. That has endowed the cost of attendance of every scollie player, the team's managers, and now the assistant coaches, plus renovations and upgrades to Cameron indoor. (A new practice court??) Last I looked about a year ago, the endowment value of the Legacy Fund was $120 million. At a 4.5 percent annual distribution, that's about $5 million for men's hoops. 13 scollies @ $80,000 is a bit over $1 million, which is why the distribution is now used to pay other individuals, and for program operations. I believe there is a restriction that the Legacy Fund can not be used to pay for the head coach, as the fund was established during Coach K's tenure, and with his support. Coach K. has even contributed to the Fund. ------------------ BTW, Mr. U-Haul pere was an associate member of the HC BoT in 1972, which IIRC is the decade his sons matriculated. Pere died in 1999. The family's net worth in 2020 was just shy of 11 digits. |
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