Arizona Running 240 Million Budget Deficit To Cut Sports

[Wild Turkey]

The PAC schools were destined to fail.

Faculty at Power 5 school suggest selling athletic department after massive financial miscalculation

Sports could reportedly be on the chopping block as a Power 5 school wrestles with a budget miscalculation nearing a quarter of a billion dollars.

www.saturdaydownsouth.com

Arizona miscalculated its budget for the fiscal year by $240 million and now faces the threat of “draconian cuts” that could impact the athletic department, according to a report from the Arizona Daily Star’s Ellie Wolfe.

One physics professor even suggested selling the athletic department in its entirety to a third party for a profit to try and escape what has been termed a “financial crisis.”

 

[michaeljordan_fan]

How do you fuck up that badly

 

[outofyourmind]

And these are smart people at these Universities ???

 

[Brutus]

HAHA Those retards down in Tucson can't even balance a budget!!

"The school is reportedly instituting a 2% budget cut. Additional measures that are being considered include hiring freezes within colleges running a “structural deficit,” concessioning on-campus amenities such as parking, leasing out land, reducing financial aid commitments, and cutting sports programs within the athletic department." Get fucked students

ASU>GCU>NAU>UA

 

[TheReal_NU]

Did they hire Larry Scott as a consultant?

 

[Collegefbfan]

Damn. I mean, damn. Like really damn. How in the world can a mistake worth that much $$$ be made?

 

[CoalTrain]

And these are smart people at these Universities ???

Oh yea, that money didn’t just put on its pants and walk away.
And… I hear tell that Arizona has some very beautiful coeds that one could spend a lot of money on if one would ever chose to do so….

 

[michaeljordan_fan]

Oh yea, that money didn’t just put on its pants and walk away.
And… I hear tell that Arizona has some very beautiful coeds that one could spend a lot of money on if one would ever chose to do so….

That's Arizona St

 

[trojanfan12]

Did they hire Larry Scott as a consultant?

Either him...or the Stanford professor who told the PAC to not sign a decent tv offer because they were worth a lot more than was being offered.

 

[TheReal_NU]

Either him...or the Stanford professor who told the PAC to not sign a decent tv offer because they were worth a lot more than was being offered.

Co-consultants.

 

[CoalTrain]

That's Arizona St

I’ve heard/seen both TBH and.. when ya talkin bout that much money.. might as well hit both campuses

 

[PeoplesChicken]

This could actually be an opportunity. Power 5 football is basically a business so make it a business. Separate from the school and run the program like a business

 

[Deep Creek]

Wasn’t Maryland in similar shape when they decided to go to the B1G? B1G revenue the next few years mitigated their deficit But Zona ain’t going to get that type of revenue bump from the Big 12.

 

[NewPhoneWhoDis]

The PAC schools were destined to fail.



Arizona miscalculated its budget for the fiscal year by $240 million and now faces the threat of “draconian cuts” that could impact the athletic department, according to a report from the Arizona Daily Star’s Ellie Wolfe.

One physics professor even suggested selling the athletic department in its entirety to a third party for a profit to try and escape what has been termed a “financial crisis.”

For the love of god -- $240 million? That isn't easy to do. They need to hire an independent auditing firm to go over their books, as someone had to be either syphoning funds or you have a lot of incompetent people working in your athletic department.

 

[Deep Creek]

This could actually be an opportunity. Power 5 football is basically a business so make it a business. Separate from the school and run the program like a business

I thought we saw some stats a few years ago that showed only about thirty something programs were totally self sufficient?

 

[PeoplesChicken]

I thought we saw some stats a few years ago that showed only about thirty something programs were all that had to be subsidized in some form to break even?

I don't know about that one

 

[Deep Creek]

I don't know about that one

I may be all wet but that is somewhere in the back of my mind. But, my forgeterer is better than my rememberer these days.

 

[Deep Creek]

I ran into shit like this during my days of contract work for the Texas Education Agency…but not on a $240 million scale.

“First order of business is to put your business in order.”

“It doesn’t matter if it is in the budget if it isn’t in the bank.”

 

[Inquisitor]

 

[michaeljordan_fan]

For the love of god -- $240 million? That isn't easy to do. They need to hire an independent auditing firm to go over their books, as someone had to be either syphoning funds or you have a lot of incompetent people working in your athletic department.

It's the university, not the AD.