A cautionary tale for Penn State?

[EPC FAN]

http://www.dailycal.org/2017/10/19/...thletics-gets-20m-bailout-chancellors-office/

Refresh my memory. Who was Athletic Director at Cal-Berkeley when this went down? Could a renovated Beaver Stadium do this to PSU? Just asking.

 

[Bobpsu]

http://www.dailycal.org/2017/10/19/...thletics-gets-20m-bailout-chancellors-office/

Refresh my memory. Who was Athletic Director at Cal-Berkeley when this went down? Could a renovated Beaver Stadium do this to PSU? Just asking.

Its Michigan Whiteout week...where the hell are you coming from?

 

[BobPSU92]

http://www.dailycal.org/2017/10/19/...thletics-gets-20m-bailout-chancellors-office/

Refresh my memory. Who was Athletic Director at Cal-Berkeley when this went down? Could a renovated Beaver Stadium do this to PSU? Just asking.

Who is Screwface, Alex?

 

[zwick19050]

http://www.dailycal.org/2017/10/19/...thletics-gets-20m-bailout-chancellors-office/

Refresh my memory. Who was Athletic Director at Cal-Berkeley when this went down? Could a renovated Beaver Stadium do this to PSU? Just asking.

Maybe Cal should hire Jay and Curley to straighten things out.

 

[Cpeplion]

I'm 100% certain that when things like that happen at a university such as Cal it was squarely one persons fault. If an unfair 60 million dollar fine and not fighting and just paying off garbage suits didn't cripple the entire university then I think they can withstand 1 AD.

 

[pandaczar12]

I think you all need to move on and stop talking about Penn state's impending financial doom. Also, to appease a dozen or so trolls on this site, it would be appreciated if you don't talk about our storied past and the amazing legacy of the great Joe Paterno. Those visiting from Michigan don't want us to discuss their impending football loss, so please don't discuss this weekends game. But any PSU related news happening tomorrow is fair game.

 

[zwick19050]

http://www.dailycal.org/2017/10/19/...thletics-gets-20m-bailout-chancellors-office/

Refresh my memory. Who was Athletic Director at Cal-Berkeley when this went down? Could a renovated Beaver Stadium do this to PSU? Just asking.

Who was CAl's AD in 99 when the chancellor had to bail them out with the same problem? I guess you don't care about the parts of the story that don't suit your agenda.

According to the story they need to cut some sports. Which sports do you think PSU should cut? I would go with mens' soccer and baseball for starters.


ARe you on board with nixing the stadium renovations or will you still complain?

 

[Player2BNamedL8r]

Could it? Yes.

Football (even through its dark years) generates a lot more revenue at Penn State than it does at Cal. Add the substantiallly more lucrative B1G money and fewer overall sports to support, and it looks like we have more sizable revenue streams overall than they do.

That said, we also have a shortfall from monies our BoT has given away due to the Sandusky scandal. Another consideration is that all sports are losing television viewership (cable cutting, etc.), so while the current contracts are bigger than ever, there's no guarantee that the networks will be shelling out similar dollars in years to come.

 

[mn78psu83]

Calling norm and Art.

@stormingnorm

@Art

 

[psute]

Cal's problem is the stadium renovation payments. 18 million a year, interest only. The renovation was $321 million, a huge portion of which was for earthquake proofing the stadium which was built on a fault. Pretty amazing engineering...

https://www.wired.com/2010/12/st_calstadium/

 

[Bobpsu]

Who was CAl's AD in 99 when the chancellor had to bail them out with the same problem? I guess you don't care about the parts of the story that don't suit your agenda.

According to the story they need to cut some sports. Which sports do you think PSU should cut? I would go with mens' soccer and baseball for starters.


ARe you on board with nixing the stadium renovations or will you still complain?

He hopes they go forward with the Stadium upgrades so he can continue to bitch!

 

[step.eng69]

Calling norm and Art.

@stormingnorm

@Art

Are we talking Amos & Andy here?

 

[Marylovesthelions]

Only more bankruptcies will stop and reverse the runaway spending in college athletics. Very large corporations have smaller administrative staffs than the Penn State athletic department. Sports that played 25 games in the 1969s are playing 60-90 today. There are no adults in charge.

 

[mn78psu83]

Maybe Cal should hire Jay and Curley to straighten things out.

Is Jay a financier now? I thought he was a journalist/motivational speaker.

 

[Art]

Cal's problem is the stadium renovation payments. 18 million a year, interest only. The renovation was $321 million, a huge portion of which was for earthquake proofing the stadium which was built on a fault. Pretty amazing engineering...

https://www.wired.com/2010/12/st_calstadium/

Cal spent $250mm on stadium amenities and a new athletic training center that had nothing to do with the seismic retrofit.

 

[Art]

Could it? Yes.

Football (even through its dark years) generates a lot more revenue at Penn State than it does at Cal. Add the substantiallly more lucrative B1G money and fewer overall sports to support, and it looks like we have more sizable revenue streams overall than they do.

That said, we also have a shortfall from monies our BoT has given away due to the Sandusky scandal. Another consideration is that all sports are losing television viewership (cable cutting, etc.), so while the current contracts are bigger than ever, there's no guarantee that the networks will be shelling out similar dollars in years to come.

That is true and Barbour is well into the process of spending all of it and a whole lot more.

 

[Art]

Who was CAl's AD in 99 when the chancellor had to bail them out with the same problem? I guess you don't care about the parts of the story that don't suit your agenda.

According to the story they need to cut some sports. Which sports do you think PSU should cut? I would go with mens' soccer and baseball for starters.


ARe you on board with nixing the stadium renovations or will you still complain?

Who was Cal's AD in 2007 when the Chancellor wiped out $31mm of Athletic Department debt? I think we're beginning to see a pattern here. Ooops.

 

[BobPSU92]

Calling norm and Art.

@stormingnorm

@Art

WRONG. METRICS.

SCREWFACE.

 

[BobPSU92]

How much has sandy budgeted for a seismic retrofit of Beaver Stadium?

 

[Art]

How much has sandy budgeted for a seismic retrofit of Beaver Stadium?

She's still collecting data on what and how much Indiana Fats eats at the breakfast buffet.

 

[zwick19050]

Cal's problem is the stadium renovation payments. 18 million a year, interest only. The renovation was $321 million, a huge portion of which was for earthquake proofing the stadium which was built on a fault. Pretty amazing engineering...

https://www.wired.com/2010/12/st_calstadium/

The interest will eventually get up to $40 million a year and their attendance is way down.

 

[zwick19050]

Who was Cal's AD in 2007 when the Chancellor wiped out $31mm of Athletic Department debt? I think we're beginning to see a pattern here. Ooops.

Do you think debt paid in 2007 was originated in 2007?

 

[T J]

Cal's problem is the stadium renovation payments. 18 million a year, interest only. The renovation was $321 million, a huge portion of which was for earthquake proofing the stadium which was built on a fault. Pretty amazing engineering...

https://www.wired.com/2010/12/st_calstadium/

Good engineering fixes,
even though it's not their fault.
​

 

[Art]

Do you think debt paid in 2007 was originated in 2007?

Barbour started at Cal in 2004 so some of the debt was incurred under her stewardship. She was either clearly aware that she presided over an athletic department that had a history of inability to pay its bills or she was a total dumbshit.Despite that she piled $250mm of unnecessary cost onto the stadium retrofit project and spent $8mm to concoct a harebrained financing scheme that never got off the ground. And this is someone you want in charge of major capital spending projects?

 

[91Joe95]

She's still collecting data on what and how much Indiana Fats eats at the breakfast buffet.

Ten bucks says she's counting the potential natural gas production in her revenue streams.

 

[Art]

Ten bucks says she's counting the potential natural gas production in her revenue streams.

No doubt. Hope she doesn't overlook the value of both the ongoing and terminal waste byproducts of the process. Hard to imagine anyone ignoring it, despite their best efforts.