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GT athletic dept has amassed $229 million in debt
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<blockquote data-quote="RLR" data-source="post: 199584" data-attributes="member: 486"><p>I was going to make this point in my OG post. But when I looked at the stats that I was going to use to make my argument look legit, well, I realized it was 45 pages of financial analysis and I didn't care enough to dive into the rabbit hole. However, browsing the future outlook and numbers, I have concerns about GT's AA. I'm not even going to touch the debt payments for capital assets. See page 33 of the link in my OG post. It seems like those donations have essentially been used to pay off old debt, which is subsequently turned into new, larger debt, which in turn pays for the new facilities. I mean, that's American economics 101. I don't have the time or knowledge to say it won't work. It seems like GT knows what it's doing with it's debt service too. I trust them.</p><p></p><p>The larger problem, it seems, is that we are dependent on the fruit of this space race, i.e. our financial livelihood depends on the Clemsons since our entire future budget is projected on the assumption that TV revenue will continue to exponentially increase. Also, we assume that Students/Alumni will continue pitching in what $18 million a year + tickets (actually, the report hints that we need that number to go way up). Correction: this isn't a space race. In a space race, we'd actually invest the money into discovery, knowledge, things of future use. Lazy rivers and laser tag investments are prob better classified as a bubble/waste.</p><p></p><p>I love GT football and sports. I think it can and does create goodwill for the institute. I'm thankful for the players, coaches, and memories. But i can't deny that these numbers give me a sense that somewhere in this system we've built, someone's get paid major paper w/o providing their due return. That isn't only unjust, it's bad business.</p><p></p><p><strong><u>2014-2015 Operating Revenue</u></strong></p><p><strong>Businesses Sources</strong></p><p>$27 Million from ACC (TV)</p><p>$7 Million from advertisers (although it appears IMG gave GT the "Park Atlanta" deal)</p><p>$12 Million from customers (ticket sales)</p><p></p><p><strong>Alumni & Student Donations/fees</strong></p><p>$7 Million from Donors</p><p>$9 Million for "Contributions" (I think this means the money paid by club members?)</p><p>$5 Million from students (fees)</p><p></p><p><strong><u>2014 - 2015 Operating Expenses</u></strong></p><p>$24 Million in Salaries </p><p>$7 Million in Administrative expenses </p><p>$7 Million for Travel & Recruiting</p><p>$9 Million for player scholarships </p><p>$3 Million for other Events</p><p>600k for Equipment (PLEASE GOD DO NOT TELL ME WE PAY RUSSEL <u><strong>ANY</strong></u> MONEY).</p></blockquote><p></p>
[QUOTE="RLR, post: 199584, member: 486"] I was going to make this point in my OG post. But when I looked at the stats that I was going to use to make my argument look legit, well, I realized it was 45 pages of financial analysis and I didn't care enough to dive into the rabbit hole. However, browsing the future outlook and numbers, I have concerns about GT's AA. I'm not even going to touch the debt payments for capital assets. See page 33 of the link in my OG post. It seems like those donations have essentially been used to pay off old debt, which is subsequently turned into new, larger debt, which in turn pays for the new facilities. I mean, that's American economics 101. I don't have the time or knowledge to say it won't work. It seems like GT knows what it's doing with it's debt service too. I trust them. The larger problem, it seems, is that we are dependent on the fruit of this space race, i.e. our financial livelihood depends on the Clemsons since our entire future budget is projected on the assumption that TV revenue will continue to exponentially increase. Also, we assume that Students/Alumni will continue pitching in what $18 million a year + tickets (actually, the report hints that we need that number to go way up). Correction: this isn't a space race. In a space race, we'd actually invest the money into discovery, knowledge, things of future use. Lazy rivers and laser tag investments are prob better classified as a bubble/waste. I love GT football and sports. I think it can and does create goodwill for the institute. I'm thankful for the players, coaches, and memories. But i can't deny that these numbers give me a sense that somewhere in this system we've built, someone's get paid major paper w/o providing their due return. That isn't only unjust, it's bad business. [B][U]2014-2015 Operating Revenue[/U] Businesses Sources[/B] $27 Million from ACC (TV) $7 Million from advertisers (although it appears IMG gave GT the "Park Atlanta" deal) $12 Million from customers (ticket sales) [B]Alumni & Student Donations/fees[/B] $7 Million from Donors $9 Million for "Contributions" (I think this means the money paid by club members?) $5 Million from students (fees) [B][U]2014 - 2015 Operating Expenses[/U][/B] $24 Million in Salaries $7 Million in Administrative expenses $7 Million for Travel & Recruiting $9 Million for player scholarships $3 Million for other Events 600k for Equipment (PLEASE GOD DO NOT TELL ME WE PAY RUSSEL [U][B]ANY[/B][/U] MONEY). [/QUOTE]
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