PSU AD finances
- Thread starter ChiTownLion
- Start date
Definitely disappointing to see our basketball spending continue to be, by far, the lowest in the conference.
That upset me too but I'm wondering if we would get a drastically better outcome with more spending?
I haven't followed much or been on campus since Sept, but which three dorms are being renovated? I was in Pinchot back in 95
IIRC, they’re doing a phased renovation of all the East Hall dorms. They built a new one on Curtin where the beach volleyball court was, and they’re shuffling kids around over the next decade while they move through and renovate the rest. They’re doing the same in North and they finished up doing it in South a few years ago.
Football expenses have nearly doubled since the scandal where everyone said PSU has a "football culture problem". Should we except more sanctions from Emmertt? 
how much of that is coach's salary? Wasn't Paterno making ~ $1m a year? CJF is $5.8m if reports are correct. Then each of the assistants got a nice bump. Add to that a lot of renovations and the design of the updated stadium...Football expenses have nearly doubled since the scandal where everyone said PSU has a "football culture problem". Should we except more sanctions from Emmertt?
BTW, what is new on the stadium upgrade? That seems to have disappeared.
Football expenses have nearly doubled since the scandal where everyone said PSU has a "football culture problem". Should we except more sanctions from Emmertt?
Just more proof that the university knew from the start that the narrative of a football culture problem was horsecrap.
That's football only. For the entire Athletic Department, the surplus was $5.5mm. About half of that is attributable to a higher than (recently) usual donations figure, which, I'd venture to guess, is almost entirely the result of a large one-time amount.
So without forward-looking data, which the Athletic Department has but is not sharing, it's impossible to reach conclusions. However, you can be certain that if the Athletic Department has money they will surely find something on which to spend it.
I didn't say that you were reaching conclusions, so we'll leave it at that.
So you attend meetings with members of the Athletic Department who say money insn't available to purchase certain things. That's interesting because presumably they know why. The larger issue I have is not that there isn't money, but whether money is spent prudently.
Sandy's got this.
Yes, I take great comfort in that knowledge.
Same info is available on gopsusports.com.
To me, the 500 lb. gorilla is the Facilities Master Plan i.e. how much are they going to spend and where is the money coming from. Still waiting to hear the announcement that launches Phase I.
Agreed. The Cap Budget is the killer.
The initial Five-Year-Plan proposals are laughable given the current situation (at least, I HOPE they were joking
The Operating Budget - the stuff they have to report to the Title IX folks.....
Huge increases in recurring expenses (largely Admin, though Coaching has also gone up significantly)
While internally revenues (from tickets, "donations" etc) has actually dropped, before one even adjusts for inflation (thank you STEP LOL).... though I expect to see a spike up for 2017 and 2018.
With the whole thing being duct-taped together thanks to large increases in outside money (largely TV), and some increased withdrawal rates from the Endowment.
Not exactly a healthy long-term plan
Not that anyone cares about long-term.
Have any details been approved and released?
Relax the sky isn’t falling. Most universities would love to have the finances of our athletic department.
Especially what we’ve been through.
And in the football team was 7-6, 4-4 in the B10 and the men’s basketball team was 11-20 and we didn’t have a hockey team. So we’ve definitely made progress since then.
Especially what we’ve been through.
And in the football team was 7-6, 4-4 in the B10 and the men’s basketball team was 11-20 and we didn’t have a hockey team. So we’ve definitely made progress since then.
Actually the B10 is about to sign a $2.6 billion TV deal that will give each school $440 million a year.Agreed. The Cap Budget is the killer.
The initial Five-Year-Plan proposals are laughable given the current situation (at least, I HOPE they were joking
The Operating Budget - the stuff they have to report to the Title IX folks.....
Huge increases in recurring expenses (largely Admin - - are there still those that contend that Sandy has only been "Handing out titles, with no growth in headcount and expenses", though Coaching has also gone up significantly)
While internally revenues (from tickets, "donations" etc) has actually dropped, before one even adjusts for inflation (thank you STEP LOL).... though I expect to see a spike up for 2017 and 2018.
With the whole thing being duct-taped together thanks to large increases in outside money (largely TV), and some increased withdrawal rates from the Endowment.
Not exactly a healthy long-term plan
Not that anyone cares about long-term.
Hmmm, no emojis. Want provides some background? Plus, I think your math is just a little off.
Report: Big Ten getting $2.64 billion in new TV deal
https://www.google.com/amp/s/amp.freep.com/amp/86135546
Jesus, May, and Joseph...and anyone else who wants to come along for the ride.
Is there an emoji for........oh, nevermind.
A
anon_xdc8rmuek44eq
Guest
What Art is trying to say is....
The latest Big Ten media-rights contract will earn the conference an average of $440 million annually over the next six years, according to a report in the Sports Business Journal.
I'm glad you said it before I said it because I think it would have come out somewhat differently had I said it first.
Misleading. Paterno’s remuneration from Nike and media were unpublished. Franklin’s is part of the 5.8mil
yeah...but the Nike and Media weren't coming from PSU....I am only thinking in terms of the budget for PSU (with no consideration of the coach's overall income)
Which - once the newbies start getting a full share (which they haven’t yet been getting, IIRC) - means that the cut for PSU and the others is a hair under $30 Mill.
I believe the BIgTen takes a Conference share, 440 / 15 = just under 30 mill...... ie , just a couple million more than they are getting now - - - likely a bit less thanks to inflation.
Everyone can applaud Gentleman Jim Delaney now - for requiring the conference members to subsidize RU and (to a lesser extent) UMd.
But - if I’m wrong - and PSU is really gonna’ get $440 Mill a year, they can probably balance the budget OK
By means of clarification, the Big Ten does withhold money for expense and working capital purposes, but it's not formulaic in the sense that it's 1/15 of a certain number. Keep in mind, that conference distributions also include bowl revenue, NCAA distributions, etc. While not as significant as media rights money, those parts are not trivial (btw, did you happen to notice that PSU spent nearly $1mm more than the allowance the Big Ten gave it for the Rose Bowl? That's a shitload of onion dip.). Fun begins when people start conflating all of those numbers.
I asked this a few weeks ago when Barkley signed his Nike deal, but does anyone know when Penn State is eligible to re-negotiate its apparel deal? IIRC, the last deal was signed either at the tail end of the Paterno/Curley era or during the sanctions. I would think the Penn State brand as it stands today would be more valuable now than it was back then, but...
You may be right....do you know of just guessing? My thought is that PSU negotiates certain contracts and that Rev goes into the operating budget. Along comes CJF that negotiates X contract. While the Nike contract adds to PSU pot to spend, it isn't paid directly to CJF. In other words, if PSU forces Nike to pay $2m more because of our visibility last year, that isn't going to go to CJF...it would just go back into the operating income to be used however it wants.
Uh, uh. In the good old days, Nike had deals with coaches. Once Nike started doing deals with schools, those went away (to avoid conflict of interest potential). Schools then assigned part of the Nike money to coaches, along with a contractual list of function that the coach was required to perform in return (just for the edification of those who used to criticize Joe for going on the Nike junkets).
If my recall serves me, the last coach who had an individual contract with Nike while his school had a separate one was Jim Calhoun. That's because his contract with Nike antedated UConn's. Eventually the arrangements were all rolled into one, the school contract. By 2010, PSU had been under contract with Nike long enough that Joe was receiving Nike money through the school. Regardless, of the conduit, you are correct, none of it was disclosed.
In re 2010, you are both right. Poorman was misleading when he indicated contracts between Nike and Learfield on one side and Paterno on the other. I'd be very surprised if that were the case. There is at least one other obvious case where Poorman is dead wrong and I haven't read the article closely enough to pick out everything.
On reflection, one thing the NCAA is useful for are these financials. And the one good thing that Rodless did was make them public. Wonder how long into the Master Plan cycles it is before they go under wraps again.
I’ve had the exact same thoughts.... on both counts
Along those lines, have you noticed that since the paroxysm of openness in the immediate aftermath of Sandusky, PSU has gone from releasing the full contract of the football coach to a term sheet? In fairness, the details on the term sheet are pretty much all that interests someone like me. But how much more trouble is it to put the full contract on a website? Which leads me to start thinking what is in there that they don't want us to see? Probably nothing, but again.........
Thanks. So do they plan to say anything about the status of the Plan or will they let it wither away and hope that everyone forgets about it?
