FullyERicht
Thunderdome
- Joined
- Feb 5, 2013
- Messages
- 5,591
I think it's fair to say we are one of the most poorly run athletic departments in the country as a whole.
For reference, see the thread on Manny's call out article. It includes the balance sheet showing how much our sports cost to run versus how much they make and the breakdown between the different sports, and by gender. If you aren't into reading financial data, the breakdown shows a few key things:
#1: Miami football, after everything is said and done in terms of costs of running the team (and that includes all the scholarships and recruiting budgets etc etc), generates a surplus (aka profit) of $5.5 million . The basketball team's profit is around $2.5 million. After the cost of all the other mens sports which don't generate profit, as a whole, men's sports generates a surplus of $5 million and change.
#2: Women's sports generate no profit. After everything is said and done, women's sports as a whole generated the university negative $7 million.
#3: This means that when figuring out the total amount of profit our athletics department generates, you add mens (+5mil) to womens (-7mil). This means Miami is operating at a 2 million dollar loss. As a result, Miami has to use donation monies just to break even .
Dapper also alludes to the fact that Miami spends 27 million on its football budget, which is second in conference behind FSU at 33.
Anyone who has ever taken a basic finance course can tell you that operating at a loss is not just crippling; it's a sign of horrendous leadership. There is a tremendous amount of inefficiency in how things are run here. I know you can't just eliminate womens sports, but downsizing the entire AD while improving your money making sports with the profits would lead to overall growth in the end. It's simple economic fact.
For reference, see the thread on Manny's call out article. It includes the balance sheet showing how much our sports cost to run versus how much they make and the breakdown between the different sports, and by gender. If you aren't into reading financial data, the breakdown shows a few key things:
#1: Miami football, after everything is said and done in terms of costs of running the team (and that includes all the scholarships and recruiting budgets etc etc), generates a surplus (aka profit) of $5.5 million . The basketball team's profit is around $2.5 million. After the cost of all the other mens sports which don't generate profit, as a whole, men's sports generates a surplus of $5 million and change.
#2: Women's sports generate no profit. After everything is said and done, women's sports as a whole generated the university negative $7 million.
#3: This means that when figuring out the total amount of profit our athletics department generates, you add mens (+5mil) to womens (-7mil). This means Miami is operating at a 2 million dollar loss. As a result, Miami has to use donation monies just to break even .
Dapper also alludes to the fact that Miami spends 27 million on its football budget, which is second in conference behind FSU at 33.
Anyone who has ever taken a basic finance course can tell you that operating at a loss is not just crippling; it's a sign of horrendous leadership. There is a tremendous amount of inefficiency in how things are run here. I know you can't just eliminate womens sports, but downsizing the entire AD while improving your money making sports with the profits would lead to overall growth in the end. It's simple economic fact.