Foley's larger failure: Facilities or Butters?
- Thread starter oxrageous
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- Jun 9, 2014
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Two things you've horribly misgauged. #1 my argument was for the logic in borrowing four, five, six, seven, maybe eight years ago, at lower rates, assuming it was even necessary.
Secondly, the credit risk is on the lender, not the borrower.
- Apr 17, 2018
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I have misguaged nothing. The debt level when the bubble pops is the debt level that counts. UF has a 100 million dollar limit so it is not as though we don't have a lot of debt.
Plus the interest rate of a lot the athletic dept debt is not locked in for thirty years like a mortgage.
We are about to add 50 million more debt to the 100 million debt with the new projects. UGA has only 85 million dollars in debt and are paying cash for their improvements and they are doing well.
Just because Cal went to 400 million in debt years ago does not change the effect of the 400 million when the debt bubble pops.
Taking on too much debt hurts your credit rating which increases your interest rate on future borrowing.
Cal's debt that they took on 7 maybe 8 years ago may make sense to you but when the debt bubble pops their problems will be even worse.
https://deadspin.com/cal-is-****ed-because-of-its-stupid-stadium-deal-1795896858
If ESPN can't pay on the TV deals it signed up for that could make paying big debt services harder.
https://www.deseretnews.com/article/865679386/A-closer-look-at-ESPNs-slow-death-spiral.html
Our toothless opponents at UT are now talking about 340 million more in stadium debt. Your thinking is more in line with the Volunteer fans.
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- Jun 9, 2014
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Bubble Gonna Pop and Only Gators Get Out Alive Theory...because we sunk $100 million only (almost entirely in nonrevenue programs). Has to be my favorite excuse yet.
- Apr 17, 2018
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60 million went into Basketball which is #2 in revenue behind football. It is not non revenue. Arena can be rented out for concerts.
Bubble Gonna Pop and Only Gators Get Out Alive Theory...because we sunk $100 million only (almost entirely in nonrevenue programs). Has to be my favorite excuse yet.
Entirely non revenue sports? That 100 million included the $15 million IPF for football. 12 million for stadium improvements in 2011. 33 million for the Swamp skyboxes in 2001. The 25 million athlete academic center can be used by football and basketball which are revenue sports. Title IV requires spending on women non revenue sports for all schools. Cant get around that.
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- Jun 9, 2014
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Are you employed by or affiliated with the university or UAA?
- Apr 17, 2018
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Absolutely not. I agree Foley blew it on the 2 Saban related coaches. I just understand that overloading on debt at the wrong time has historically caused a lot of pain which I do not want the Gators to go through when schools like UT and Cal run out of reserves.
It is hard for some to see that there are advantages to not being over loaded with debt.
- Jun 9, 2014
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What is the basis for the debt figures you cited? Post a link if you have one.
- Jun 9, 2014
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#2 in revenue still means nonrevenue. one footbal game produces more revenue than basketball.
I keep hearing about this $60 million baseball stadium.
We kept flushing terrible coaches, paying 8-10 mil per year (two to three coaches being paid at same time). Yup, a decade of being a laughingstock footbalk team sure is worth it to have that sound money management.
I keep hearing about this $60 million baseball stadium.
We kept flushing terrible coaches, paying 8-10 mil per year (two to three coaches being paid at same time). Yup, a decade of being a laughingstock footbalk team sure is worth it to have that sound money management.
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- Apr 17, 2018
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Tell that to Kentucky about hoops being non revenue.
We will be increasing debt from 100 million to 150 million. The extra 50 million is helping to cover the 130 million in spending which includes the 55 million baseball stadium and 65 million football center. Title IV requires some of that 130 million be spent on women's non revenue sports. ADs have to meet that requirement.
It helps football to move the baseball stadium so football has more room near the stadium.
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78
You are a smart Gator and I can tell you are a good fan like me so don't take my counter point as an attack. WE both want what is best for UF there is just more than one way to do it. I just like to be fair and objective.
If you want to see our debt go to the UAA annual reports. Google the link for the PDF:
PDF THE UNIVERSITY ATHLETIC ASSOCIATION ... - University of Florida
https://www.seccountry.com/florida/...standalone-football-complex-softball-upgrades
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- Oct 15, 2014
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Yes. Yes it does. Problem is, they sure as hell shouldn't be spending big bucks on a BB stadium.
- Apr 17, 2018
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Sucks doesn't it. We are righting a bad decision made decades ago on the location of the baseball field. Back then they wanted baseball easy for the students to walk to. Moving the baseball stadium allows football to not have to build a 3 story building which is more expensive.
Now instead of a 100,000 square foot 3 story building we will have a better located 2 story 130,000 square foot football center and room to build an athlete dorm next door in the future.
We made a decision long ago that did not allow for expansion. Now football and baseball will have top SEC facilities. It just takes longer to do it this way but will be better in the long run.
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- Jun 24, 2014
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I can only imagine.
- Jun 9, 2014
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wtf does that matter? Our arena is empty and we spend nearly as much as we make on basketball.
btw, Kentucky still makes most of their money on ....... football.
- Apr 17, 2018
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Lumping men's basketball with the women's non revenue sports (that Title IX requires UF to fund) is simply incorrect. Saying the basketball arena is empty during games is factually incorrect.
You are using incorrect terminology when you say that basketball is non revenue. It is false as the last numbers I could find was UF basketball had 14 million in revenues (see link below). That is revenues not non revenues. Part of our SEC payout comes from the NCAA tournament which is a moneymaker. Football making more revenue does not make basketball a non revenue sport as you claimed.
Saw this about the non revenue sport of basketball (according to you):
http://www.businessinsider.com/loui...-2016-2018-2#5-indiana-university-24560829-21
Kentucky had men's basketball revenue of 27 million. That is a material amount of revenue. Men's basketball is NOT a non revenue sport as you claimed earlier.
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- Apr 17, 2018
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Not true.Just like it was untrue when people said UF could not win a national championship in basketball. Weren't you happy when we did?
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- Jun 9, 2014
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Where we lag overall revenuewise, believe it or not, is ticket sales. We have almost the same in and out as LSU but they get a decisively higher amount from ticket sales whereas we get it more from contributions and licensing/rights.
I'm still absorbing info.
I'm still absorbing info.
- Jun 9, 2014
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So you really think that the Florida football is going to continue to be Kentuckyish and that we're going to rely on Ghettoball to be our future revenue?
Tell me the last time you saw 94,000 in the basketball stadium.
Tell me the last time you saw 94,000 in the basketball stadium.
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- Jun 9, 2014
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