This dude tosses crap against the wall and begs for it to stick.
FSU is 437 million in debt over renovations, and yes, they did raise a record-breaking 106 million last season, but that money had to go to paying upfront cost.
FSU has had to dip into the University auxiliary funds to fund NIL. That is not the athletic department's auxiliary funds but the entire University's. They have until the end of 2028 to payback 67 million dollars, or it falls on the athletic department's books. In doing so, it will cause serve institutional, competitive, and legal crisis.
1. Devastating competitive collapse, meaning possible death penalty by choice.
2. Severe cutting of minor sports
3. University credit rating downgrade, which would make it hard for the general university to borrow money for normal campus buildings, classrooms, and research labs.
4. Legal action from bondholders. The 437 million in renovation debt is tied up in bonds. If the athletic department's operational budget sinks due to NIL. FSU risks missing its mandatory payments to bondholders. This would cause a breach of contract.
So trying to buy out Norvell would seem like a huge risk and the incoming coach would have to know about this. Which is why Kiffin passed.
