$200 Million in Debt, Tennessee's Dave Hart Hopes to Stop the Bleeding

#5
#5
No wonder we are playing Oregon and Oklahoma the next couple of years......we're broke.
 
#6
#6
Wow! And why the hell are releasing this type of negative information about our athletic department the week before national signing day? I know most recruits probably don't understand an interest payment from their own arse, but why leak this out now? We need as much positive right now as possible not this.....
 
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#8
#8
Special Ed said:
I'll help pay it off after I win the PowerBall.
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Right? I think this is my new goal when I win the lotto (even though I don't play).



Realistically, I don't think this is a massive hinderance yet, but if we don't get to work on bringing this debt down soon we will sink to depths that UT has never before seen. It isn't crippling right now, but it certainly can be without quick action.
 
#10
#10
KBVol said:
Wow! And why the hell are releasing this type of negative information about our athletic department the week before national signing day? I know most recruits probably don't understand an interest payment from their own arse, but why leak this out now? We need as much positive right now as possible not this.....
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A Freedom of Information request, no doubt. My guess is they dragged their feet as long as possible but couldn't postpone any longer.
 
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#13
#13
The answer is to increase revenue. (we already know that) The question is how do we generate more revenue .
 
#14
#14
If the coaching search is any indication, I have no faith that Hart can navigate the waters ahead.
 
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#16
#16
92volalum said:
Simplicity is sometimes the best but it doesn't seem to register with our ad.....
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Sure, if a big money coach wants a rebuilding job, but they don't. With the exception of Bielema, no big money coaches moved this offseason. Certainly not to a downgrade, which we are right now. I love the Vols, but you have to walk before you can run, and right now we're crawling. It's improvement, though, because a month ago we couldn't hold our head up on our own.
 
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#17
#17
"the Vols find themselves mired in more than $200 million of debt, the most in the SEC, with reserves of just $1.95 million, the least in the conference."

Not a good situation to be in.
 
#19
#19
thanks for the help Ktown

The Vols incur another expense that costs them $1.6 million a year in city and county taxes. It’s called the “amusement tax,” and it charges the school 5 percent on each ticket sold in football, men’s basketball and women’s basketball, in addition to the 9.25 percent state sales tax. The amusement tax, according to Tennessee athletics Chief Financial Officer Bill Myers, doesn’t pertain to concerts — just the Vols’ major sporting events. Cities and counties that are home to other Tennessee schools and the NFL Titans don’t impose such a tax, he said.
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