UT-Knoxville - Athletics 220 Million in debt

[dbackjon]

I thought all Big Time FBS programs made money hand over fist?

Now, after staggering to losing football seasons in four of the last five years and seeing attendance drop to levels last seen in the 1970s, 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.

The athletic department spends a startling $21 million a year on debt payments, $13.5 million of which comes from the school’s stressed $99.5 million athletic budget and the rest from donations.

It’s an ugly financial picture for one of the nation’s strongest football brands, the kind of financial hole that SEC football giants aren’t supposed to be in, brought about by expensive coaching buyouts and costly improvements to Neyland Stadium and other athletic facilities, just as the losing seasons set in.

http://www.sportsbusinessdaily.com/Jour ... essee.aspx" onclick="window.open(this.href);return false;

[ASUMountaineer]

I thought all Big Time FBS programs made money hand over fist?

Now, after staggering to losing football seasons in four of the last five years and seeing attendance drop to levels last seen in the 1970s, 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.

The athletic department spends a startling $21 million a year on debt payments, $13.5 million of which comes from the school’s stressed $99.5 million athletic budget and the rest from donations.

It’s an ugly financial picture for one of the nation’s strongest football brands, the kind of financial hole that SEC football giants aren’t supposed to be in, brought about by expensive coaching buyouts and costly improvements to Neyland Stadium and other athletic facilities, just as the losing seasons set in.

http://www.sportsbusinessdaily.com/Jour ... essee.aspx" onclick="window.open(this.href);return false;

UTK does make money "hand-over-fist." The problem is, they spent more money than they were bringing in. I know it may be hard to comprehend, but typically when you spend more money than you have, you end up in debt. Fiscal mismanagement always leads to problems.

[dbackjon]

I thought all Big Time FBS programs made money hand over fist?

Now, after staggering to losing football seasons in four of the last five years and seeing attendance drop to levels last seen in the 1970s, 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.

The athletic department spends a startling $21 million a year on debt payments, $13.5 million of which comes from the school’s stressed $99.5 million athletic budget and the rest from donations.

It’s an ugly financial picture for one of the nation’s strongest football brands, the kind of financial hole that SEC football giants aren’t supposed to be in, brought about by expensive coaching buyouts and costly improvements to Neyland Stadium and other athletic facilities, just as the losing seasons set in.

http://www.sportsbusinessdaily.com/Jour ... essee.aspx" onclick="window.open(this.href);return false;

UTK does make money "hand-over-fist." The problem is, they spent more money than they were bringing in. I know it may be hard to comprehend, but typically when you spend more money than you have, you end up in debt. Fiscal mismanagement always leads to problems.

They may take in a lot of money, but not turning a profit (which would be making money)

They projected they would be able to make enough money to pay for everything. They didn't. They are not alone in this regard.

[dal4018]

Call Peyton for a loan lol!!!

[CAA Flagship]

UTK does make money "hand-over-fist." The problem is, they spent more money than they were bringing in. I know it may be hard to comprehend, but typically when you spend more money than you have, you end up in debt. Fiscal mismanagement always leads to problems.

They may take in a lot of money, but not turning a profit (which would be making money)

They projected they would be able to make enough money to pay for everything. They didn't. They are not alone in this regard.

No they are not alone. Our add a few zeros to the UT numbers and you have our Federal Government.

[DSUrocks07]

They may take in a lot of money, but not turning a profit (which would be making money)

They projected they would be able to make enough money to pay for everything. They didn't. They are not alone in this regard.

No they are not alone. Our add a few zeros to the UT numbers and you have our Federal Government.

The Federal Government should drop down to FCS. Lower budget more regional rivalries, and BUS TRIPS!

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[SDHornet]

No they are not alone. Our add a few zeros to the UT numbers and you have our Federal Government.

The Federal Government should drop down to FCS. Lower budget more regional rivalries, and BUS TRIPS!

Sent from my VM670 using Tapatalk 2

[SDHornet]

I thought all Big Time FBS programs made money hand over fist?

Now, after staggering to losing football seasons in four of the last five years and seeing attendance drop to levels last seen in the 1970s, 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.

The athletic department spends a startling $21 million a year on debt payments, $13.5 million of which comes from the school’s stressed $99.5 million athletic budget and the rest from donations.

It’s an ugly financial picture for one of the nation’s strongest football brands, the kind of financial hole that SEC football giants aren’t supposed to be in, brought about by expensive coaching buyouts and costly improvements to Neyland Stadium and other athletic facilities, just as the losing seasons set in.

http://www.sportsbusinessdaily.com/Jour ... essee.aspx" onclick="window.open(this.href);return false;

Amazing that even SEC teams are struggling to keep up in the arms races. They are eating their own now. Since this is a publicly funded university, I wonder how well this mismanagement is being taken by the taxpayers.

[ASUMountaineer]

UTK does make money "hand-over-fist." The problem is, they spent more money than they were bringing in. I know it may be hard to comprehend, but typically when you spend more money than you have, you end up in debt. Fiscal mismanagement always leads to problems.

They may take in a lot of money, but not turning a profit (which would be making money)

They projected they would be able to make enough money to pay for everything. They didn't. They are not alone in this regard.

Semantics...the crux of my response is in the second sentence--spending more than you bring in. But, please...lecture me more on finances.

I am surprised that you take issue with UTK's athletic department for the way they have mismanaged their finances...