Coaching Carousel 5 - You have to look through the rain to see the rainbow

lv20gt

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Jesus, when dtm and kg are on the same page you know someone's really wrong. Let's just get Red in here and complete the trifecta.

Anyways here's a link to an AJC article, yes yes I know, about our financial situation.
link

The linked chart was nice, but it hardly give a clear picture of the overall situation. And I doubt many posters here have much of any insight into the overall picture of GT's financials. I certainly don't, but there are a couple of posters who in the past have proven to have those kind of insights, and one's posting in this topic.
 
dtm1997

dtm1997

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lv20gt said:
Jesus, when dtm and kg are on the same page you know someone's really wrong. Let's just get Red in here and complete the trifecta.

Anyways here's a link to an AJC article, yes yes I know, about our financial situation.
link

The linked chart was nice, but it hardly give a clear picture of the overall situation. And I doubt many posters here have much of any insight into the overall picture of GT's financials. I certainly don't, but there are a couple of posters who in the past have proven to have those kind of insights, and one's posting in this topic.
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Oh. The rainy day fund is projected to get back to $5MM by 2023? Shocking.

I'm not advocating to keep Pastner, as much as I'm advocating sucking it up and living with him another year when it's more financially palatable to remove him and the groundwork has been laid for a proper investment in GT Men's Hoops. I definitely think it needs to be after next year anyway, as why would we want to pay him a $500,000 retention bonus on top of his buyout?
 
Connell62

Connell62

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LibertyTurns said:
You’re pissing up a rope. The head buried in the sand crowd can have facts stapled to their faces and still not understand. They think GTAA is like the USG. Just write another funny money check.
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Yeah, this is exactly true and they have ruined this forum in the process. It’s same ole **** regurgitated over and over again with no understanding of what is required to replace the coach.

Half the people bitching and moaning about the state of the program haven’t even attended a game, much less donated toward the cause.
 
kg01

kg01

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lv20gt said:
Jesus, when dtm and kg are on the same page you know someone's really wrong. Let's just get Red in here and complete the trifecta.
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It may stagger and stupify many, but dt and I agree like 75% of the time. And he's just wrong the other 25%. I'm sure you nerds will check my math on that. :cigar:
 
LibertyTurns

LibertyTurns

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Sorry to those I offended with such a short snippy answer, but GT lost $9.6M in 2019 and FY 2020 is projected to lose another $1.7M. FY’s end 6/30 every year in case anyone was not aware. Bottom line the FY 2019 $11.3M in losses completely wiped out GT’s $6.7M reserve fund. All the athletic programs were asked to take a haircut to the tune of $9M to trim FY 2020 down to a $1.7M loss. I don’t have the numbers but quite frankly, we didn’t sell as many football season tickets as we’d hope for coupled with another $6M to pay for the new football staff. We’re also facing annual salary costs in football because there’s more people on staff now because we were so far behind the power curve we could not compete with such a small staff. Lastly, there’s a huge difference between operations and capital expenses. You don’t just mix money, particularly when your fundraising states it will be allocated to a purpose either 100% or the ratio has been specified.

It’s really not until 2023 where our revenues are projected to hit $101M that’s we’ll even be back to the point we have our reserve balance restored. We’ve got the highest debt service of any ACC team & by a large margin. Stansbury bet the bank on our football program & he’s gone all in. It’s our cash cow and there’s a reason every AD with a football program in the country manages football so doggedly. There won’t be any high profile basketball coach coming in here until 2024 unless someone is interested in plunking down about $25M to foot the bill for a 6 year contract.

Now I could be wrong & GTAA has this all nailed but based on the information at hand that is what a prudent steward of a multi-million dollar outfit would do. He’d hold the line in 2021 & 2022 if he could, then make 2024 the splash year. This year’s season football tickets are probably going to be lackluster, if we show some signs of life then FY 2022 may be a bit better. A good 2022 football season and hopefully we’ll rebound plus we got the extra revenue coming in. GT will finally not be upside down operationally, unable to make good decisions because the money is not there. He’ll likely have the ability to make a basketball hire in the spring of 2022 as the FY is winding down. They should be working the hire at the end of next season and have the replacement firmly in place when the 2022 season ends. It’s a business & that’s what he should do.
 

YlJacket

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The only thing I would add is that there is the ACCN which could surprise to the upside. I don't know and haven't seen any results to date but I do expect that is built in to their cash flow plans. Hopefully a good surprise is coming there.
 
dtm1997

dtm1997

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YlJacket said:
The only thing I would add is that there is the ACCN which could surprise to the upside. I don't know and haven't seen any results to date but I do expect that is built in to their cash flow plans. Hopefully a good surprise is coming there.
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It's likely the primary driver for an $18MM jump in revenues from 2020 to 2023, per the article, so would seem to be baked in already.
 
LibertyTurns

LibertyTurns

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YlJacket said:
The only thing I would add is that there is the ACCN which could surprise to the upside. I don't know and haven't seen any results to date but I do expect that is built in to their cash flow plans. Hopefully a good surprise is coming there.
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The IMG contract renegotiation is the biggest item hitting that year.
 
LibertyTurns

LibertyTurns

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YlJacket said:
I know it is baked in - just hoping for a little more yeast in the bread than they expect ;)
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ACC revenue sharing is baked in and that may be a downside risk with basketball being so weak this year.

ACCN revenue is estimated at the low side. There’s potential for add’l revenue there.

Biggest variable risk is season football tickets and regular single game sales. This year will
probably be weak if last year is any indicator but by 2021 this experiment needs to start paying off.

The MBS boosts us about $2M/yr, $5M in the year where it’s the Chik Fil-a game.

We played small ball and got ourselves into the black. We completely switched tactics and now we’re going need the home runs to start appearing. Running with the big boys ain’t cheap.
 
TheAnonymous404

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deeznats said:
@dtm1997 doesn't really need someone to defend him, but I do know he has met with people in the GTAA, has met with Stansbury, and pledged quite a bit of money. What have you done besides demand a coach be fired?
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I would like to thank the brilliant Deeznuts for proving my point about there being too many penpals on this forum. Love the aside, but this is just a distraction from the purpose of this discussion. The reality is we haven't sniffed the Tourney in 10 years, and it's time for change #FirePastner
 
Connell62

Connell62

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TheAnonymous404 said:
I would like to thank the brilliant Deeznuts for proving my point about there being too many penpals on this forum. Love the aside, but this is just a distraction from the purpose of this discussion. The reality is we haven't sniffed the Tourney in 10 years, and it's time for change #FirePastner
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Guess you gave up on the other argument since you got your know-it-all *** handed to you...LOL

Regardless of how bad you (and others) want to see a change, it doesn't make sense from a dollars and cents perspective.

Our situation is not great, but it could be a lot worse. Why make the problem worse by starting over with someone that isn't likely to be successful.
 
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