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Georgia Tech Athletics
Georgia Tech Football
Mostly “Fire Geoff Collins”, some reminiscing, maybe bourbon or other distractions
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<blockquote data-quote="LibertyTurns" data-source="post: 840478" data-attributes="member: 789"><p>I’m having a hard time making this article jive with previous information. In FY2018 which ended June 30, 2018 we ran a $2M surplus. This was football revenue from 2017. We had similar attendance numbers in 2018 as 2017, but we blew our $5M rainy day fund hiring all the new staff. Football attendance was lower in 2019, 2020 was abysmal, 2021 is even lower than 2019. We got $26.9 from the ACC in FY 18, $29.5M in FY19, $32M in FY 20. The ACC Network caused the payout to jump to $37M in FY 21. We’re making $11M more than FY 18 where we cleared $2M, and now are clearing $2M. Basketball & the minor revenue sports are doing better, so it’s telling us football is costing us $11M/yr more than 3-4 years ago. We do have investment income which is a sizable budget line item & that should not have slowed down. FY 21 should have been a great year for investments. We got a cash infusion of I think $3-4M from the fundraising efforts.</p><p></p><p>This ROI here is making my head spin. I’m thinking we spent an extra $25-30M total in 3 years over what we were spending under the old regime. By my account we’ve gone from an average cost of $4M/win to $12M/win. On top of that we laid out $9M at the start to get the new staff & increase the size, add to the recruiting budget, and blew a $5M rainy day fund on top of that.</p><p></p><p>Anyone else have any insights, thoughts on what’s really going on?</p></blockquote><p></p>
[QUOTE="LibertyTurns, post: 840478, member: 789"] I’m having a hard time making this article jive with previous information. In FY2018 which ended June 30, 2018 we ran a $2M surplus. This was football revenue from 2017. We had similar attendance numbers in 2018 as 2017, but we blew our $5M rainy day fund hiring all the new staff. Football attendance was lower in 2019, 2020 was abysmal, 2021 is even lower than 2019. We got $26.9 from the ACC in FY 18, $29.5M in FY19, $32M in FY 20. The ACC Network caused the payout to jump to $37M in FY 21. We’re making $11M more than FY 18 where we cleared $2M, and now are clearing $2M. Basketball & the minor revenue sports are doing better, so it’s telling us football is costing us $11M/yr more than 3-4 years ago. We do have investment income which is a sizable budget line item & that should not have slowed down. FY 21 should have been a great year for investments. We got a cash infusion of I think $3-4M from the fundraising efforts. This ROI here is making my head spin. I’m thinking we spent an extra $25-30M total in 3 years over what we were spending under the old regime. By my account we’ve gone from an average cost of $4M/win to $12M/win. On top of that we laid out $9M at the start to get the new staff & increase the size, add to the recruiting budget, and blew a $5M rainy day fund on top of that. Anyone else have any insights, thoughts on what’s really going on? [/QUOTE]
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Mostly “Fire Geoff Collins”, some reminiscing, maybe bourbon or other distractions
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