UT Atheltics debt situation.

#3
#3
If we're adding more debt given our increased revenue/donations since Butch came aboard, the SECNetwork contract revenue and our annual SEC bowl money check ..... somebody's not doing it right, at all, in the AD.
 
  • Like
Reactions: 2 people
#4
#4
Just win in football, men's and women's basket ball, softball and baseball . . . revenue will go well beyond projected figures . . . We ain't asking for much, just win baby!! :shaking2::rock2::shaking2:
 
  • Like
Reactions: 1 person
#5
#5
I would assume we are still in debt, but I have to believe within the next 2-3 years we should be done paying coaches for contracts we have broken. To me, that means we probably will start to crawl back closer to breaking even soon.

With the bowl game success, the program beginning to win, and ticket sales being better than they have been in close to a decade, I think the financial dark ages we have been in for so long should be over soon.
 
#6
#6
VFLCodyGBO said:
I know it 2012 it was said we had around 200million in debt and things were changing internally. With increased football success and the talks of stadium renovations I have to think the department is in better shape, but I have no idea where they stand, anyone have any update other than what's in the article below?


The Changing Financial Field at Tennessee - Rocky Top Talk
Click to expand...

Four years ago the UT athletic department was 200Mil in debt?

...wait...what?
 
  • Like
Reactions: 2 people
#8
#8
My understanding was that we were planning to build back up our reserves first, before tackling the debt problem. I would be interested to see if the reserves are at a good place now. They were aiming for at least 50 mil but preferably closer to 100 mil (IIRC). If I had to guess, the debt is probably about the same. But good question.
 
#10
#10
VFLCodyGBO said:
I know it 2012 it was said we had around 200million in debt and things were changing internally. With increased football success and the talks of stadium renovations I have to think the department is in better shape, but I have no idea where they stand, anyone have any update other than what's in the article below?


The Changing Financial Field at Tennessee - Rocky Top Talk
Click to expand...

we could have had 200 million in debt.....and 202 million in cash reserves or marketable securities or incoming pledges....way to slant your post...
 
  • Like
Reactions: 1 person
#14
#14
dd4vols said:
we could have had 200 million in debt.....and 202 million in cash reserves or marketable securities or incoming pledges....way to slant your post...
Click to expand...

At the time that it was reported we were $200mm in debt, it was also reported that we had less than $1mm in reserves, which was by far the lowest in the SEC.
 
  • Like
Reactions: 2 people
#15
#15
As an Accountant, and after scanning that article, it appears that we are definitely doing better or worse or about the same!! :blink::blink:





.
 
#17
#17
KBVol said:
At the time that it was reported we were $200mm in debt, it was also reported that we had less than $1mm in reserves, which was by far the lowest in the SEC.
Click to expand...


But that still doesn't mean we are in trouble. The state of Tennessee had $41 BILLION in debt in 2012, but yet our bond ratings were consistently in the best in the land. Your posts make it look like we owe $200 million and have $1 million to pay it with. Most debt has scheduled repayment plans, through bond offerings and their associated maturities.

Do you owe for you house, or ever owed for one?
 
#18
#18
dd4vols said:
But that still doesn't mean we are in trouble. The state of Tennessee had $41 BILLION in debt in 2012, but yet our bond ratings were consistently in the best in the land. Your posts make it look like we owe $200 million and have $1 million to pay it with. Most debt has scheduled repayment plans, through bond offerings and their associated maturities.

Do you owe for you house, or ever owed for one?
Click to expand...

That's NOT what I said. I stated facts. It has been considered a fairly major concern with our AD. It's the biggest reason that Hart negotiated putting a stop to the practice of the AD cutting a $5-6mm annual check to the university.

By comparison, while we had less than $1 million in athletic department reserve funds, other SEC schools like Alabama had tens of millions put away.

Perhaps you don't equate financial health and stability with having a lot of money and less/no debt.....Id bet most would disagree. I'd personally rather have $1000 in hand with little to no debt than $10 in my pocket and a ton of outstanding financial obligations.

Yes, I fully understand having significant outstanding debt due to ongoing capital improvements to facilities and the general high cost of doing business. I also fully understand that it was perceived to be significant problem that needed to be fixed ASAP.
 
Last edited:
  • Like
Reactions: 4 people
#19
#19
Right on KB. Also, our reserves were the lowest in the SEC, and I believe of any power 5 school. It was not an ideal situation at all! Last release I saw, we were still below 10 million. And I've not seen anything on knocking out any debt.
 
  • Like
Reactions: 1 person
New posts
You must log in or register to reply here.
Advertisement



Back
Top