Money Question

[johnnytsunami01]

I guess I really don't understand how money and college football works especially with private institutions. How come for the indoor practice facility it is all in donations, from what I am reading? Why can't they use the money they raise in the games, merchandise, TV, conference deals, Addidas, etc. to help improve our facilities. I mean I am sure they are making millions every football season, but yet they can't build an indoor practice facility until they get all the money they need from donations?

Maybe I am missing something, but I am confused. Where does that money go? Academics?

 

[kryptonite]

I'm sure others know more, but I'll take a shot. It's real expensive to run an athletics department. Other than football and maybe basketball, everything loses money, so the football money gets used to float everything else. Teams travel and stay at hotels, coaches travel for recruiting, we pay to have recruits OV...it all adds up. When you want to do something beyond normal operations, you need to get the money from somewhere. Either the university could come up with it (unlikely), or you get donations.

Interestingly, I saw that uf's income is roughly 2x miami's, which doesn't seem to be paying for 2x the winning.

 

[CanesFiend]

We started paying coaches big boy salaries... pretty sure a chunk of our money goes there.

 

[ILCane2011]

I guess I really don't understand how money and college football works especially with private institutions. How come for the indoor practice facility it is all in donations, from what I am reading? Why can't they use the money they raise in the games, merchandise, TV, conference deals, Addidas, etc. to help improve our facilities. I mean I am sure they are making millions every football season, but yet they can't build an indoor practice facility until they get all the money they need from donations?

Maybe I am missing something, but I am confused. Where does that money go? Academics?

The short answer?

To fund the athletic dept and pay for all of the non-revenue sports.

If the money football made were to be used solely for football, there'd be plenty for an IPF. Unfortunately, especially with Title IX and everything, that's not how it works

 

[Gatorhater]

They are just like politicians. Any money they have already in hand or coming in is THEIR money. If you want something you need to get more money to pay for it (minus the cut they will take out of it and you never know about it). When Howard wanted to build an on campus stadium they told him he had to raise the money. When he got a bunch of donations, they panicked that he was taking money they could have gotten so they changed the rules to make if money from donors who have NEVER given to Miami before. They cut us slack on this one.

 

[UMFarArcher]

***** the non-revenue sports until we can get what the two revenue generating sports need and want.

 

[champcane]

***** the non-revenue sports until we can get what the two revenue generating sports need and want.

Tell that to the Baseball program.....just as prestigious if not more than football. Definitely better than basketball.

 

[DapperSlapper]

UM's Athletics dept for fiscal year that ended 5/31/2015


Athletically Related Student Aid

---

	Men's Teams	Women's Teams	Total
Total	$9,498,782	$7,129,107	$16,627,889
Ratio (percent)	57	43	100%

Recruiting Expenses

---

	Men's Teams	Women's Teams	Total
Total	$852,386	$355,178	$1,207,564

Operating (Game-Day) Expenses by Team

---

Varsity Teams	Men's Teams	Women's Teams	TOTAL OPERATING EXPENSES
Participants	Operating Expenses per Participant	By Team	Participants	Operating Expenses per Participant	By Team
Basketball	15	$124,533	$1,867,999	25	$43,461	$1,086,525	$2,954,524
Football	111	$57,899	$6,426,835				$6,426,835
Baseball	40	$16,783	$671,334				$671,334
All Track Combined	68	$3,570	$242,743	73	$4,281	$312,521	$555,264
Diving	3	$13,603	$40,808				$40,808
Golf				7	$11,184	$78,287	$78,287
Rowing				56	$4,139	$231,773	$231,773
Soccer				25	$6,686	$167,149	$167,149
Swimming and Diving				23	$6,771	$155,740	$155,740
Tennis	12	$11,402	$136,818	10	$22,740	$227,396	$364,214
Volleyball				15	$13,088	$196,323	$196,323
Total Operating Expenses Men's and Women's Teams	249		$9,386,537	234		$2,455,714	$11,842,251

Total Expenses by Team

---

Varsity Teams	Men's Teams	Women's Teams	Total
Basketball	$6,573,405	$4,324,621	$10,898,026
Football	$26,894,656		$26,894,656
Total Expenses of all Sports, Except Football and Basketball, Combined	$6,488,910	$10,137,544	$16,626,454
Total Expenses Men's and Women's Teams	$39,956,971	$14,462,165	$54,419,136
Not Allocated by Gender/Sport			$22,076,684
Grand Total Expenses			$76,495,820

Total Revenues by Team

---

Varsity Teams	Men's Teams	Women's Teams	Total
Basketball	$6,759,936	$1,227,822	$7,987,758
Football	$38,985,460		$38,985,460
Total Revenues of all Sports, Except Football and Basketball, Combined	$2,984,353	$5,035,363	$8,019,716
Total Revenues Men's and Women's Teams	$48,729,749	$6,263,185	$54,992,934
Not Allocated by Gender/Sport			$22,731,899
Grand Total for all Teams (includes by team and not allocated by gender/sport)			$77,724,833

Revenues & Expenses Summary

---

Revenues and Expenses Summary	Men's Teams	Women's Teams	Total
1	Total of Head Coaches' Salaries	$5,381,868	$1,877,427	$7,259,295
2	Total of Assistant Coaches' Salaries	$5,723,140	$1,332,018	$7,055,158
3	Total Salaries (Lines 1+2)	$11,105,008	$3,209,445	$14,314,453
4	Athletically Related Student Aid	$9,498,782	$7,129,107	$16,627,889
5	Recruiting Expenses	$852,386	$355,178	$1,207,564
6	Operating (Game-Day) Expenses	$9,386,537	$2,455,714	$2,460,892
7	Summary of Subset Expenses (Lines 3+4+5+6)	$22,547,879	$12,062,919	$34,610,798
8	Total Expenses for Teams	$39,956,971	$14,462,165	$54,419,136
9	Total Expenses for Teams Minus Subset Expenses (Line 8 – Line 7)	$17,409,092	$2,399,246	$19,808,338
10	Not Allocated Expenses		$22,076,684
11	Grand Total Expenses (Lines 8+10)		$76,495,820
12	Total Revenues for Teams	$48,729,749	$6,263,185	$54,992,934
13	Not Allocated Revenues		$22,731,899
14	Grand Total Revenues (Lines 12+13)		$77,724,833
15	Total Revenues for Teams minus Total Expenses for Teams (Line 12-Line 8)	$8,772,778	-$8,198,980	$573,798
16	Grand Total Revenues Minus Grand Total Expenses (Line 14- Line 11)		$1,229,013

 

[90scane]

The revenue will increase this year and in 2019. The ACC network will increase ACC revenue sharing. Miami having more butts in seats will increase home game revenue.

 

[DerekDohrman]

so football made about $12 million last year? $48 revenue, $36 expenses ?

 

[calinative umstudent]

Yes, except the "expenses" for scholarships isn't ******* real. Sure the Athletic Dept pays the School, but it isn't real. These scholarships are technically free for the school and athletic dept. It's basically their way of being a non-profit, otherwise our athletic department would be making $16M+/yr. So basically we make $16M then donate it to the school every yr.

This is also a reason its absolute BS when schools say they can't pay their players a stipend or something. They have the money to do it, they just dont want to.

 

[LxaCane]

You also have to keep in mind Title IX. Money has to be split equally between the men and women's teams.

 

[Big Sky Cane]

Yes, except the "expenses" for scholarships isn't ******* real. Sure the Athletic Dept pays the School, but it isn't real. These scholarships are technically free for the school and athletic dept. It's basically their way of being a non-profit, otherwise our athletic department would be making $16M+/yr. So basically we make $16M then donate it to the school every yr.

This is also a reason its absolute BS when schools say they can't pay their players a stipend or something. They have the money to do it, they just dont want to.

You want some Women's UM golfer making the same "stipend" Brad Kaaya gets? That's exactly why they can't/won't pay players what they're "worth". Title IX won't allow it.

 

[TrueFloridian]

Business 101...you invest money where you make money. The IPF should be breaking ground just after the bowl games and a few weeks before signing day.

 

[calinative umstudent]

Yes, except the "expenses" for scholarships isn't ******* real. Sure the Athletic Dept pays the School, but it isn't real. These scholarships are technically free for the school and athletic dept. It's basically their way of being a non-profit, otherwise our athletic department would be making $16M+/yr. So basically we make $16M then donate it to the school every yr.

This is also a reason its absolute BS when schools say they can't pay their players a stipend or something. They have the money to do it, they just dont want to.

You want some Women's UM golfer making the same "stipend" Brad Kaaya gets? That's exactly why they can't/won't pay players what they're "worth". Title IX won't allow it.

First of all 2 things need to be done.
First, and this should have been done long ago, Players should be able to profit off their own image and likeness. It's absolute BS they aren't allowed to sign autographs for profit.
Second, yes, players deserve to be payed. They can put aside a mill and decide how to split it between all the players. Right now it's not even about paying players what their worth (and in football a lot of players are worth millions) its about just giving them walking around money so they can eat, go to the movies, buy clothes, etc.

 

[Big Sky Cane]

Yes, except the "expenses" for scholarships isn't ******* real. Sure the Athletic Dept pays the School, but it isn't real. These scholarships are technically free for the school and athletic dept. It's basically their way of being a non-profit, otherwise our athletic department would be making $16M+/yr. So basically we make $16M then donate it to the school every yr.

This is also a reason its absolute BS when schools say they can't pay their players a stipend or something. They have the money to do it, they just dont want to.

You want some Women's UM golfer making the same "stipend" Brad Kaaya gets? That's exactly why they can't/won't pay players what they're "worth". Title IX won't allow it.

First of all 2 things need to be done.
First, and this should have been done long ago, Players should be able to profit off their own image and likeness. It's absolute BS they aren't allowed to sign autographs for profit.
Second, yes, players deserve to be payed. They can put aside a mill and decide how to split it between all the players. Right now it's not even about paying players what their worth (and in football a lot of players are worth millions) its about just giving them walking around money so they can eat, go to the movies, buy clothes, etc.

1. LULZ......good one. That'd go well for everyone OUTSIDE the SEC.

2. Second bold was addressed a couple years ago.

 

[Cane Dynasty]

Want the short answer OP?

Because there are a ton of schitty womens programs and g@y mens schit like tennis (sorry kirijax) water polo and golf that suck up all the money that football makes.

 

[plantcity3]

Want the short answer OP?

Because there are a ton of schitty womens programs and g@y mens schit like tennis (sorry kirijax) water polo and golf that suck up all the money that football makes.

Imo, if a sport can't fund itself, than that school doesn't need to participate in that particular sport...

Sent from my SM-N910T using Tapatalk

 

[tjl1388]

Want the short answer OP?

Because there are a ton of schitty womens programs and g@y mens schit like tennis (sorry kirijax) water polo and golf that suck up all the money that football makes.

Imo, if a sport can't fund itself, than that school doesn't need to participate in that particular sport...

Sent from my SM-N910T using Tapatalk

Unfortunately common sense is not allowed when it comes to government and their laws. We have to be "fair" and everyone get's their "fair share".

 

[plantcity3]

Want the short answer OP?

Because there are a ton of schitty womens programs and g@y mens schit like tennis (sorry kirijax) water polo and golf that suck up all the money that football makes.

Imo, if a sport can't fund itself, than that school doesn't need to participate in that particular sport...

Sent from my SM-N910T using Tapatalk

Unfortunately common sense is not allowed when it comes to government and their laws. We have to be "fair" and everyone get's their "fair share".

If they want to be fair, then they should have to raise their own money for their sport and not piggyback off a men's sport. But like you said, common sense isn't to common...

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