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Post by hchoops on Jan 19, 2023 10:26:57 GMT -5
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Post by rgs318 on Jan 19, 2023 10:35:57 GMT -5
No revolt in NJ...if anyone uses our huge Rutgers' athletic debt as an example.  |
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Post by rf1 on Jan 19, 2023 11:11:20 GMT -5
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hcnj
Crusader Century Club
Posts: 220
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Post by hcnj on Jan 19, 2023 11:23:53 GMT -5
As you and now rgs are reporting in NJ, it may be "revolting" but NJ has seldomly revolted over any taxes let alone the athletic costs. I'm surprised that the Big 10 revenue sharing hasn't covered Rutgers' deficits. |
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Post by alum on Jan 19, 2023 11:56:40 GMT -5
How much does HC lose in athletics? PP must know.
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Post by Pakachoag Phreek on Jan 19, 2023 12:05:31 GMT -5
How much does HC lose in athletics? PP must know. PP doesn't know. PP's guess is that generated revenue covers between 15 and 20 percent of the total cost of HC athletics The rest is subsidized by the college (i.e., parents paying the child's cost of attendance). BC, even though it has conference and media broadcast revenues far exceeding anything HC receives from such sources, probably loses as much as HC, possibly more. |
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Post by sader1970 on Jan 19, 2023 16:40:56 GMT -5
Uh, maybe you didn't want to list all the sources but there's a little thing called the Crusader Athletics Fund, the Gridiron Club and such in which a lot of alums and friends of Holy Cross donate $$$$. And that's just for athletics directly and I assume alums et. al. who donate to the Holy Cross Fund, while a general fund, some likely goes to athletics as well. Taking nothing away from the parents, or the students, athletic expenses are paid for from more sources than just them.
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Post by HC92 on Jan 19, 2023 18:42:05 GMT -5
Uh, maybe you didn't want to list all the sources but there's a little thing called the Crusader Athletics Fund, the Gridiron Club and such in which a lot of alums and friends of Holy Cross donate $$$$. And that's just for athletics directly and I assume alums et. al. who donate to the Holy Cross Fund, while a general fund, some likely goes to athletics as well. Taking nothing away from the parents, or the students, athletic expenses are paid for from more sources than just them. Same applies to UConn. Definitely don’t think they need to spend gobs of money on independent FBS football in CT, but the athletic programs have been the primary reason for the explosion of growth, alumni engagement and name recognition. |
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Post by Pakachoag Phreek on Jan 19, 2023 19:49:46 GMT -5
Uh, maybe you didn't want to list all the sources but there's a little thing called the Crusader Athletics Fund, the Gridiron Club and such in which a lot of alums and friends of Holy Cross donate $$$$. And that's just for athletics directly and I assume alums et. al. who donate to the Holy Cross Fund, while a general fund, some likely goes to athletics as well. Taking nothing away from the parents, or the students, athletic expenses are paid for from more sources than just them. HC's total expenses for athletics are $30+ million. The CAF would be counted in generated revenue. If HC sold 75,000 tickets to various games at an average cost of $15, that's $1,125,000 in generated revenue. Combine ticket sales with CAF 's $2.5 million, and that's 12 percent or so of total expenses., In 2018=19, the last year for which data is available and which was not affected by COVID, HC spent $33.2M on athletics. Colgate spent $29.5M |
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Post by bfoley82 on Jan 19, 2023 21:11:55 GMT -5
Uh, maybe you didn't want to list all the sources but there's a little thing called the Crusader Athletics Fund, the Gridiron Club and such in which a lot of alums and friends of Holy Cross donate $$$$. And that's just for athletics directly and I assume alums et. al. who donate to the Holy Cross Fund, while a general fund, some likely goes to athletics as well. Taking nothing away from the parents, or the students, athletic expenses are paid for from more sources than just them. HC's total expenses for athletics are $30+ million. The CAF would be counted in generated revenue. If HC sold 75,000 tickets to various games at an average cost of $15, that's $1,125,000 in generated revenue. Combine ticket sales with CAF 's $2.5 million, and that's 12 percent or so of total expenses., In 2018=19, the last year for which data is available and which was not affected by COVID, HC spent $33.2M on athletics. Colgate spent $29.5M All your data is available here ope.ed.gov/athletics/#/ |
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Post by gks on Jan 20, 2023 10:45:05 GMT -5
Tired topic.
Athletics is part of a college doing business. As much as some here mock their football team is an important part of the overall campus/college experience. No one ever complains how much the fine arts or chemistry department costs.
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Post by alum on Jan 20, 2023 10:45:51 GMT -5
Uh, maybe you didn't want to list all the sources but there's a little thing called the Crusader Athletics Fund, the Gridiron Club and such in which a lot of alums and friends of Holy Cross donate $$$$. And that's just for athletics directly and I assume alums et. al. who donate to the Holy Cross Fund, while a general fund, some likely goes to athletics as well. Taking nothing away from the parents, or the students, athletic expenses are paid for from more sources than just them. Same applies to UConn. Definitely don’t think they need to spend gobs of money on independent FBS football in CT, but the athletic programs have been the primary reason for th e explosion of growth, alumni engagement and name recognition. Especially for out of state students paying $23,000 more in tutition than in state students. |
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Post by timholycross on Jan 20, 2023 10:50:44 GMT -5
So they've sustained 200+ million in losses; including or excluding the Ollie matter? Or maybe I'm interpreting this incorrectly and those are running totals, i.e., they were 40 million in the hole after a year, lost another 2 million the next, and so on.
Asked this in the other thread after it apparently got switched to football.
The former scenario I see as not sustainable; cannot continue.
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Post by Pakachoag Phreek on Jan 20, 2023 10:54:41 GMT -5
HC's total expenses for athletics are $30+ million. The CAF would be counted in generated revenue. If HC sold 75,000 tickets to various games at an average cost of $15, that's $1,125,000 in generated revenue. Combine ticket sales with CAF 's $2.5 million, and that's 12 percent or so of total expenses., In 2018=19, the last year for which data is available and which was not affected by COVID, HC spent $33.2M on athletics. Colgate spent $29.5M All your data is available here ope.ed.gov/athletics/#/That's not the case for UConn and its 2021-22 deficit. OPE data is a summary of the NCAA reports. And UConn hasn't filed the Title IX report for 2021-22 yet. No private university has ever publicly released its report to the NCAA, to my knowledge. UConn's NCAA filing for 2020-21 is available on Scribed, as the Courant downloaded it to Scribe. It is 83 pages long. The HC and Colgate data are from OPE. |
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Post by Pakachoag Phreek on Jan 20, 2023 11:05:07 GMT -5
So they've sustained 200+ million in losses; including or excluding the Ollie matter? Or maybe I'm interpreting this incorrectly and those are running totals, i.e., they were 40 million in the hole after a year, lost another 2 million the next, and so on. Asked this in the other thread after it apparently got switched to football. The former scenario I see as not sustainable; cannot continue. It is not a true loss. Athletics at UConn is not self-sufficient, which is the case for over 300 of the Division I schools. When generated revenue is insufficient to pay for expenses, the university/college covers the shortfall from general revenue: tuition, fees, room and board. unrestricted endowment monies. |
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Post by Pakachoag Phreek on Jan 20, 2023 11:12:00 GMT -5
Tired topic. Athletics is part of a college doing business. As much as some here mock their football team is an important part of the overall campus/college experience. No one ever complains how much the fine arts or chemistry department costs. Colleges and universities are not accredited because they have an athletics program. Athletics is not a factor. A college / university is obliged to fund departments for courses leading to a degree, and the facilities associated with those courses, e.g., a laboratory. It is a given. |
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Post by gks on Jan 20, 2023 12:13:04 GMT -5
Tired topic. Athletics is part of a college doing business. As much as some here mock their football team is an important part of the overall campus/college experience. No one ever complains how much the fine arts or chemistry department costs. Colleges and universities are not accredited because they have an athletics program. Athletics is not a factor. A college / university is obliged to fund departments for courses leading to a degree, and the facilities associated with those courses, e.g., a laboratory. It is a given. There is a lot more to the college experience than a degree. If every athletic department had to be profitable there'd be probably under 10 nationwide. |
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Post by HC92 on Jan 20, 2023 12:43:11 GMT -5
Looking at athletic departments as making or losing money solely by looking at direct revenue and expense related to those programs misses a whole host of financial and other benefits to the college of having a strong athletic program. That doesn’t mean I want my taxpayer dollars funding an independent FBS football team that I and most other taxpayers couldn’t care less about. If we “lose money” on men’s and women’s hoops while they’re winning national titles and generating donations and merchandise sales and more applications, count me in. The football team is generating some amount of these things but probably not enough to justify the massive expense.
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Post by rgs318 on Jan 20, 2023 14:47:50 GMT -5
NJ has proposed three mew pieces of legislation demanding greater transparency from the athletic deoarttmemat and tighter controls on their "sports" debt. OK, nice words but let's see if anything is actually done to curtail the excesses that have come to light. They would, I am sure, be thrilled to have the Holy Cross financial track record.
By "they" I mean the Rutgers PTB ad NJ taxpayers.
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Post by purplehaze on Jan 20, 2023 18:20:38 GMT -5
Rutgers just poached the off. coordinator from Minnesota and will pay him '7 figures' after paying the Gophers a '6 figure' fee for the invasion
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