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Stanford eliminating 11 sports

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SBERG said:
What a joke.... These schools have been making millions upon millions for years and now one bad year and they're crying poverty.... GTFO with that...
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or they wanna keep on making millions & millions maybe?
 
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The schools are greedy, plain and simple, which is their right, but it becomes so obvious at times like this. Stanford has billions in its endowment, and I realize that much of that money is earmarked for a specific matter so it can't just be transferred over to athletics. But the school rakes in so much money that to use a 1 year anomaly as the basis for cutting 11 sports is based on nothing more than greed. Again, within their rights, but not a good luck IMO.
 
Ash Joshi said:
The schools are greedy, plain and simple, which is their right, but it becomes so obvious at times like this. Stanford has billions in its endowment, and I realize that much of that money is earmarked for a specific matter so it can't just be transferred over to athletics. But the school rakes in so much money that to use a 1 year anomaly as the basis for cutting 11 sports is based on nothing more than greed. Again, within their rights, but not a good luck IMO.
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Athletic programs are self sustaining. Because of title IX, football needs to support those other programs. Not that many athletic programs even turn a profit.

www.ncaa.org

Athletics departments that make more than they spend still a minority

Revenue generated by ticket sales, broadcast agreements and other sources at 24 Football Bowl Subdivision schools outpaced athletics expenses in 2014, according
www.ncaa.org www.ncaa.org
 
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88 said:
Athletic programs are self sustaining. Because of title IX, football needs to support those other programs. Not that many athletic programs even turn a profit.

www.ncaa.org

Athletics departments that make more than they spend still a minority

Revenue generated by ticket sales, broadcast agreements and other sources at 24 Football Bowl Subdivision schools outpaced athletics expenses in 2014, according
www.ncaa.org www.ncaa.org
Click to expand...
You’re 99% right about nearly all athletic departments that provide full scholarships. But not about Stanford; they can.

For a program that won the trophy for best sports school nearly every year...and the size of Stanford’s endowment…and that they still have some TV revenue…very disappointing.

Stanford just sees an opening as some of the Ivies have eliminated sports. (a few months back, Brown cut eleven sports including T&F, Cross Country - before reinstating those 3.)
 
88 said:
Athletic programs are self sustaining. Because of title IX, football needs to support those other programs. Not that many athletic programs even turn a profit.

www.ncaa.org

Athletics departments that make more than they spend still a minority

Revenue generated by ticket sales, broadcast agreements and other sources at 24 Football Bowl Subdivision schools outpaced athletics expenses in 2014, according
www.ncaa.org www.ncaa.org
Click to expand...
I understand that athletic budgets can't "borrow" or "receive" money from the school at large, but my point was that the schools can survive even with a 1 year shortfall in athletics. This is more about choice than necessity.
 
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It will be interesting to see what sports other schools cut. I'd like to know how much the individual sport's profits/losses vs. Title IX compliance is the underlying issue.
 
This isn’t about not having the money, it’s about making the balance sheet look better.

They could easily afford these esoteric sports, at least for a year or 2, even without football revenue, especially considering that the sports will most likely not be played during that time, so greatly reduced operating expenses.

There is a human cost here. Have to feel bad for the athletes and their coaches. They are on an island, but fortunately and hopefully they will complete a valuable Stanford degree.

Also, many, maybe even most of these athletes are on either no-scholarship, or partial scholarship.
 
Just out of curiosity around does anyone know how much is the monthly payroll major Athletic program?
 
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I once spent a summer there. Stanford's campus has sprawling athletic facilities so it's surprising to see this.
 
SBERG said:
What a joke.... These schools have been making millions upon millions for years and now one bad year and they're crying poverty.... GTFO with that...
Click to expand...
I've posted about this once before, but this article from 2017 describes the debt situation that multiple athletic programs find themselves in. The University of California is prominently mentioned.

www.bloomberg.com

College Football’s Top Teams Are Built on Crippling Debt

Football’s critics often point to multimillion-dollar coaching salaries. They should be more worried about debt, which costs more and lasts longer.
www.bloomberg.com www.bloomberg.com

UCLA ran a $18.9M deficit in 2019.

www.mercurynews.com

UCLA’s budget whammy: The Bruins are bleeding cash and require a bailout from campus

The combination of rising expenses, coaching changes and underperformance on the football field conspired to create a huge budget shortfall for the Bruins in the 2019 fiscal year.
www.mercurynews.com www.mercurynews.com

UConn ran a $41M deficit in 2018, and $42M in 2019.

www.courant.com

Why the UConn athletic department’s $41 million deficit might not be quite as bad as it sounds

UConn’s $41 million athletic department deficit might not be quite as bad as it sounds, say economists who have studied college sports accounting. Economists have often argued that accounting…
www.courant.com www.courant.com

Between 2014 and 2017, the University of Cincinnati ran a $102M deficit.
 
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