I did read the post. If you saw the latter half of my post, you saw where I said it would take an endowed fund of $300M or so to cover athletic scholarships for everyone. And yes, I realize TU is not covering all 26 players on the men's soccer team with full scholarships covering the full cost of attendance. I know one of those players is covered by an employee benefit (Tom's son Ian).Think before you type. First of all, it can't cover the coaches salary. It is not meant to cover anything but scholarships. And you didn't read every post, and you do not know how I was figuring it nor did you read my subsequent posts where I spoke of actually putting money to the figure.
Second if you are spending the interest it does not compound. Third I was assuming the University is covering the scholarships like they were before, and adding the interest to additional scholarship amounts. It would be silly to not add it, because the 30m wouldn't even match up to the scholarship amount that the university was covering before the 30m simple interest was there.
Yes, if you were funding a full scholarship, 1.5m simple interest would not even cover it for 26 scholarships. But the university is not funding all 26 players either. Even if you were figuring compound interest that would only account for 35k additional funds, (if it were bringing in compound at 5%) which it is not. So the difference in compound interest would be negligible. You often don't read all the posts and don't correct yourself when you do read later posts, if that even happens.
It would take approx. 20M in interest to cover everyone at 70k. 30m won't bring in 66% simple interest. And that is what I was referencing in my later post. If the University were funding at the same level as the 30m brought in and it was doubled, that would only account for approx. a 10k scholarship for each athlete in the Olympic sports excluding basketball, at best. Likely with interest from 30m and scholarships school was already providing, it adds up to 12%-18% scholarships of total cost to attend, being funded by both the endowment and the school for 275 Olympic sports athletes.
What I think we can agree on is TU will find it much harder to compete without committing to fully funding every player on the roster (and other Olympic sports rosters) because while many peer schools may not be doing it now, they are working towards it. This is all new for this year so my guess is many will find that $ somewhere to compete for players and if we're not looking to do it within 5 years then we are absolutely handcuffing (and handicapping) our coaches before a game is ever played.
It is possible for smaller schools to compete at the highest levels in Olympic sports but those schools have to commit to the programs and that means $. Volleyball, Softball, soccer, etc. #2 team in the country right now (D1) is Bryant. Bryant is tiny like TU (3200 UGs) and it's in Smithfield, RI, about 20 min NW of Providence. I can tell you Smithfield is not a happening place but they've committed to bringing D1 athletics to the school. Last year the University of Vermont won the national championship. Burlington is a great place for hippies and skiers and ice hockey, and if you like Ben & Jerry's. UVM is a really good school but no one would mistake it as a destination for great soccer players. It gets cold in early October and doesn't warm up until May (if they're lucky).
The athletic dept. and the university together need to ask themselves why they sponsor D1 athletics. Is it to say they're D1 and attract students or do they actually want to be able to compete at that level because the current landscape requires significant financial investment to achieve that. Is it they just really want D1 basketball and football?