OT: Does Colorado budget deficit foreshadow financial problems for other athletic departments?

[18IsTheMan]

They are facing a $27 million budget deficit, due primarily to the $20.5 million in allowable benefits to athletes and Sanders' $10 million salary. The current $20.5 million cap increases 4% each of the next 2 years.

SEC schools and Big 10 schools will be fine, but I wonder what this portends for many other athletic departments.

Colorado forecasts $27 million deficit after Deion Sanders pay raise, NIL payments

Colorado athletics is projecting it will run a huge deficit this year after increasing pay for coach Deion Sanders and adding payments to players.

www.usatoday.com

 

[Alndyoung]

They are facing a $27 million budget deficit, due primarily to the $20.5 million in allowable benefits to athletes and Sanders' $10 million salary. The current $20.5 million cap increases 4% each of the next 2 years.

SEC schools and Big 10 schools will be fine, but I wonder what this portends for many other athletic departments.

Colorado forecasts $27 million deficit after Deion Sanders pay raise, NIL payments

Colorado athletics is projecting it will run a huge deficit this year after increasing pay for coach Deion Sanders and adding payments to players.

www.usatoday.com

Honestly with the contracts and payouts being thrown around, I wouldn’t bet all the SEC schools walk away unscathed.

 

[Creek Snake]

This is why many see a scenario 40-60 teams breakaway and form a separate football entity.There will be teams from the ACC and Big 12 that decide the commitment required is beyond their means.

 

[SouthernBelly]

Honestly with the contracts and payouts being thrown around, I wouldn’t bet all the SEC schools walk away unscathed.

University of South Carolina will be fine due to the money being saved by not having to pay Shane Beamers buyout.

 

[SC95]

Coaches are hired to win football games. Schools should be able to fire coaches (with cause) for not meeting agreed upon performance standards. These coaches should not be "rewarded" with large buyouts.

 

[Dabo's Weenie]

It might help if folks didn't think of it as a "buyout" but instead thought of the contract amount as a figure the coach has agreed to take payments on over the next "x" number of years. If the school wants him gone before the end of that term, the "buyout" is simply the unpaid balance that is payable on demand (or whatever terms were agreed upon). Once they arrive at a contract total, that money is essentially flushed (providing there are no mitigating "for cause" circumstances. Looking at you, Petrino and Tucker).

 

[Cybercock]

Coaches are hired to win football games. Schools should be able to fire coaches (with cause) for not meeting agreed upon performance standards. These coaches should not be "rewarded" with large buyouts.

Everyone forgets that there is a winner and a loser of every game. The only ones that win all the time are the coaches who get rich on the backs of fans who believe winning can be bought at some price. Then it starts all over again.
Really sad Priorities