Why is Jay Paterno Voting against Lasch improvements?
- Thread starter WPB_lion
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Yes human nature on my part, however, I smell human nature ("The job should have been mine!") at its worst here! Of all folks, j knows the value of PSU football to the University and the whole region as much as anyone does. The top 10 is an arms race! So he votes against putting snow tires and weight on a two wheel drive pickup in the snow belt?
First, note that Jay wasn't the only one who voted against the proposal. So do you think that the others who voted "nay" did so out of vindictiveness? Is it possible that maybe some saw the Athletic Department going well over $100mm in debt with no plan to repay it? Nah, couldn't be.
...true that he wasn't, however, he should have understood the value of that investment more that anyone. His father would have! It is not like they want to dome the beav at a cost of a billion bucks!
Jay was against it because he's still thinking you can run a football program the way Joe did in the 1980s.
Meanwhile, there wasn't much opposition over building a boondoggle art museum that basically has no chance at ROI like the football program does.
Meanwhile, there wasn't much opposition over building a boondoggle art museum that basically has no chance at ROI like the football program does.
Why do we call something that has no rate of return an investment? If Joe had wanted something the first thing he did was raise funds for it.
By maintaining the program which you stated in an earlier post had a $53 million surplus. If we fall behind in the arms race that is College football, we risk becoming an second tier football program and reducing the $53 million surplus. Second tier football programs don't draw 107,000 fans to football games and don't attract national attention to their universities for football games. The football program is a significant part of the Student experience at PSU. We have tier one fan support, unparalleled student participation, and significant alumni support for this program and IMO, the program deserves tier one support from the university, even if it comes at the expense of an art museum.
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Except that the $53mm first goes to to pay for all of the money-losing sports and Athletic Department administrators. What's left over might cover the interest, or haven't you been paying attention?
Fair point. Just a follow-up question to the board.....should would we cancel all non-revenue producing sports? Most of them? I know where a lot of us stand with the glut of sports administrators, but then again, they are justified to support the multitude and expanse of the sports department. It seems like a logical and linear pattern to suggest something like:
Reduction of non-revenue producing sports and supporting salaries----------allocate those funds back into the football program to do whatever is necessary to win---------realistic chance at football superiority? Alabama and Clemson do this correct? Or at minimum, they keep football profits with the football program. It all goes back to whether we want to be a championship football team or not. Of course, limitless spending does not guarantee a Championship football program, but certainly increases the odds? Can a school, with limited athletic funding, support the fiscal pressures to hoist up 17 sports and administrative glut while providing the necessary resources to produce a championship football program? It's a bleeding edge argument.
I'm ambivalent.
The one thing that's clear is that no one really pays attention to what goes on in the Athletic Department (Barry Fenchak once posted a brief clip of a BoT commitee meeting during which Athletic Department finances were discussed and it was enough to make you scream). So long as the football program generates enough cash to foot the bills, it just chugs along its merry way. But then when the football program needs money and the cash ain't there, whoops.
Franklin is well aware of this and he don't like it.
I think the NCAA requires 16 minimum for Div1A or FBS, whatever it is, membership. Most schools serious about football are right around 18 or 19 total programs, men and women.
I can see 10 programs getting the axe at PSU in the near future.
Okay, what's the return on the $100mm or so that will be spent on Lasch when all is said and done?
Clemson has 19 total - 8 men's and 11 women's.
Clemson Tigers | Clemson University Athletics
The Official Athletic Site of the Clemson Tigers, partner of WMT Digital. The most comprehensive coverage of the Clemson Tigers on the web with highlights, scores, game summaries, and rosters
clemsontigers.com
How are you guys counting track& field and cross country? More often than not they equate to three teams per gender: indoor t&f, outdoor t&f, and xc. There is also a lot of overlap between coaches and scholarship athletes.Clemson has 19 total - 8 men's and 11 women's.
Clemson Tigers | Clemson University Athletics
The Official Athletic Site of the Clemson Tigers, partner of WMT Digital. The most comprehensive coverage of the Clemson Tigers on the web with highlights, scores, game summaries, and rosters
Correction. According to the below article, they have 17 now and are adding 2 more women's programs - lacrosse and gymnastics. They will have 19.
"The lacrosse program, a spring sport to be played at Historic Riggs Field, is projected to start competition in 2022-23. Gymnastics, set to share Littlejohn Coliseum with basketball, will begin the following academic year."
Bama has all of men’s and women’s track and cross country all combined on the website.
A practice and administration building produces zero revenue. It's overhead. The football stadium produces revenue because that is where the customers go. Lasch has a perfectly functional practice field(s), workout facilities, etc. All of that is never seen or considered by the customer. I think some people forget that NIL has far superseded what recruits find important.
"There's no other place where we can get a higher return on our investment than investing in our football program,"
---Brandon Short
Having served on an Advisory Board at one of the Commonwealth Campuses, I can tell you the success of the football team has a direct effect on applications even at those campuses! When the team has a great season applications go up.
Years ago I attended a presentation by the Admissions Director of Northwestern. He mentioned that Northwestern had a record number of applications after appearing in the 1996 Rose Bowl. After the presentation I asked about the quality of those applicants. He laughed.
So if PSU wants to set up the Admissions Department as a profit center, why not? Not sure that the marginal revenue will make much of a dent in the debt taken on.
No where in his Linked-In resume, does it suggest that he has any financial acumen. Brandon has the financial intelligence of a doorknob.
-----
Prior to joining Round Hill Capital, I was a member of the Cerberus European real estate investment team.
As President of World Business Partners I was responsible for managing all aspects of the UAE business while leading a multi-national team in developing a go-to-market strategy for both the UAE and Kingdom of Saudi Arabia.
Prior to my role at World Business Partners, I worked at Goldman Sachs as a member of its Middle East North Africa investment banking team. In this role I structured and executed merger & acquisition transitions and provided access to capital for Middle Eastern companies through the debt and equity markets.
Before joining Goldman’s Middle East team, I was a member of Goldman’s New York, NY -based Real Estate investment banking team where I advised Real Estate Investment Trusts and issued Mortgage Backed Securities.
Prior to receiving my MBA from Columbia Business School in 2010, I had a 7-year career in the National Football League as an American football player: 2 years with the Carolina Panthers and 5 years with the New York Giants.
How are we supposed to compete on the field with the Clemson's without a sliding board in Lasch?
A miniature golf course
Or the bounce house
A miniature golf course
Or the bounce house
Really? I thought jay made some silly points. We have kids going hungry, we have kids sleeping on the floor of the HUB. What does that have to do with the football program? The football program brings in $100 million per year.
We don't need the best facilities but we should be top 15 at least.
Understand where you are coming from but
I suspect that if his father wanted the renovations under the same circumstances his vote would have been a little different. Just my opinion. always felt he had a little bit of a chip on his shoulder against O’Brien and Franklin but maybe my perception is wrong.
Disagree. i think his arguments were silly UNLESS he votes against every spending initiative. The football program is self funding. We can either be part of an arms race or not but I don't think it is a long term viable option to opt out of the race and remain competitive by thinking we can live in the 80's and say We Are. and quality players will flock to us.
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