Trying to get a sense of our finances. Flood makes 1.25 million and the average big 10 coaches salary is about 2.5 million. We don't get a full share of revenues for six years. Without adjusting for inflation or increases in conference revenue, it would cost 7.5 million to keep a coach at Flood's current salary. Compared to 15 million for the big 10 average. That's a difference of 7.5, plus 1.25 assuming we bought him out of his last year, for an estimate of 8.75 million. Is this roughly the budget hole that we have to fill in order to upgrade to an average big 10 coaches salary?
Finances
- Thread starter WhoRU?
- Start date
We can't afford to let us go 1-8 in the B1G for 5 years and THEN start to try to improve. We should have acted soon after B1G invite. There is way too much $ in a successful FB program. Very foolish approach RU has taken
and you shouldn't be surprised.... leadership always fails us at RU. The alumni base is too fractured and too weak to get anything done.
Want to talk about finances – tell me if every football scholarship at Rutgers is currently in endowed?? I believe the answer is no.
It is for that reason alone that rutgers is two generations at least behind every other team in the Big Ten.
It is for that reason alone that rutgers is two generations at least behind every other team in the Big Ten.
Force Rutgers to make a change. Vote with your dollars and your presence. Do not buy tickets and don't go to the games.
That is the only thing that this administration understands.
When they see how much money they will lose by keeping flood, they will make a change fast.
That is the only thing that this administration understands.
When they see how much money they will lose by keeping flood, they will make a change fast.
Forgive me for being a broken record but you guys honestly do not realize the errors that were made when RU merged with the medical school. This resulted in write offs in the Tens of millions. It's this Universities primary responsibility to try and correct this mess, especially before Christie is out of office.
Who knows maybe we can muster up enough money for a different coach but not enough for entire crew.
Who knows maybe we can muster up enough money for a different coach but not enough for entire crew.
Yeah great idea let's fix our financial problems by not giving money to the University. /s
Rutgers sports is budgeted for a $36 million deficit this year. "Indeed, according to figures compiled by a faculty committee, Rutgers athletics is projecting a total deficit of $183 million between now and 2022."
http://www.nytimes.com/2015/05/12/opinion/joe-nocera-at-rutgers-its-books-vs-ballgames.html
You can stop going to the games and it will hardly matter at this scale. I think the safer argument might be something like, "What's a few more million?"
Everyone is quick to point out the budget deficit or the med school merger but I'm sorry in terms of the football program these arguments do not hold water. There is no way that the football program runs a $36 million deficit. Just look at the OSU game. Sold out plus parking, plus concessions, plus TV(even if only a partial share) someone do the math and then tell me that the football program is running at a deficit. I think the deficit is that the football program is not making enough $ to find all of the other programs at RU. Which is fine and other football programs do but the administration has to recognize the cash cow that is the football program and invest in it.
These numbers have been proven wrong in the past there was a thread on this. These numbers are made up from an RU professor who hates athletics and stated they are out of control. Sorry to call you out on this but quoting someone whose personnel agenda is to destroy RU athletics to make your point is totally wrong. NY times used to be creditable but they don't check facts this was simply a misguided quote from the faculty member.
You might want to check RU's latest credit rating. As there was another thread on this where the rating was quite good, actually better than expected after the merger. RU could easily borrow money against future earnings. As It seems Delany could careless about helping us out. It's been reported that Julie has made quite a few overtures to him about an advance but he was not receptive. I guess Maryland needed that extra 50 mil up front on top of the 155 mil UA gave them. But RU gets the shaft. Must be nice.
This is in the right direction about the speciousness of the $36mm-deficit number put out there. It isn't nearly that big in terms of real dollars ("in-kind" dollars are what' reported), and given the size of the university's overall budget, which prior to the med school merger was around $1.3bb/year, as a percentage of annual budget it is on par or smaller than many ochre schools. Consider that Julie hasn't cut any athletics, which keep millions of $ on the books every year, which has not been the way other ADs have handled their deficits.
Also, the $6mm/year paydown of the stadium expansion has been on the athletics department's books, and most universities keep those expenses off the athletics department books. There is a lot to look at with the numbers, and when you consider that everything is more expensive here in NJ than pretty much anywhere else in the country, and the picture becomes clearer that we are not in the red to the extent the "faculty" reports we are.
The whole "RU has no money for a coach myth" is just that - A myth - and it is perpetuated by the "know it all's" on this board. The real problem is we have academic egg heads, with no understanding about the economic benefits of big time sports, running the school. Couple that with a powerless AD and this is the result. Stop blaming money and start putting the responsibility where it belongs - on the current leadership. Captain Obvious
Yeah I know.....maybe the top donors don't need our help, but I think we could make the decision a lot easier.
His buddy James Franklin...or the police who tried to arrest Julie for trying to hire Dan Mullen with a gun & ski mask since our "big" donors only came up with like $1.5M/season.