Where is the money going?

[JayCane20]

You're joking, right? Here's a start: add up all the athletic scholarships we give out and multiply that number by $50,000. That's what we pay to the operations side of the University. Then start adding in coaches salaries. Then travel expenses for entire teams to fly all over the country. Let us know what you come up with.

Boosters usually pay a large amount of scholarships. Paul Dimare pays about 10 by himself I believe. They are usually sponsored. A recent donation to the school was $1 million for scholarships. Yes, a large portion of that money helps that cause but no nearly all of it

 

[CaneSince4Ever]

Where is the money going?

You remember those MFers that told you to "Go to less games" last year...there's a start.

 

[CaneSince4Ever]

You're joking, right? Here's a start: add up all the athletic scholarships we give out and multiply that number by $50,000. That's what we pay to the operations side of the University. Then start adding in coaches salaries. Then travel expenses for entire teams to fly all over the country. Let us know what you come up with.

Boosters usually pay a large amount of scholarships. Paul Dimare pays about 10 by himself I believe. They are usually sponsored. A recent donation to the school was $1 million for scholarships. Yes, a large portion of that money helps that cause but no nearly all of it

NOT everbody's on a full ride, ie baseball,soccer,track,tennis,etc..

 

[MedleyCane]

Where is the money going?

You remember those MFers that told you to "Go to less games" last year...there's a start.

That.
Also, football is a very expensive sport.
Equipment isn't getting cheaper plus supporting medical, therapy and training staff, equipment,etc...even
insurance and liability coverage.....not a cheap sport.

 

[Samson Doyo]

So we can't pay 4 milli a year for a good coach?

Are you retarded? How did you come to that conclusion? The guy asked where our income goes, and I told him.

Beginning to like this Jagr guy. Fok Mario Lemieux!

Go Canes!

Can't wait for this coaching search to end...

 

[MarcoD70]

So we can't pay 4 milli a year for a good coach?

I think we will, and Butch will be taking over the reins very soon.

He's probably the most cost-effective HC out there.

If they pay Butch $4M, that's worse than paying Tannehill!

 

[UMFarArcher]

So we can't pay 4 milli a year for a good coach?

I think we will, and Butch will be taking over the reins very soon.

He's probably the most cost-effective HC out there.

If they pay Butch $4M, that's worse than paying Tannehill!

You're right. He should be paid $5 million.

Will be the best money UM ever spent.

 

[Tad Footeball]

So we can't pay 4 milli a year for a good coach?

Are you retarded? How did you come to that conclusion? The guy asked where our income goes, and I told him.

Beginning to like this Jagr guy. Fok Mario Lemieux!

Go Canes!

Can't wait for this coaching search to end...

Negged for hockey based sacrilege.

 

[Jaromir Jagr]

I don't know why the scholarship thing is so hard to understand. The University of Miami gets paid for every student, no matter if that money comes from loans, grants, outside scholarships, etc. Just because the student doesn't pay the full price tag doesn't mean that SOMEONE doesn't pay that price in full. If I get financial aid, someone other than me pays for it, BUT THE UNIVERSITY STILL GETS THEIR MONEY.

This is also true for athletics. The University says "you're bringing in 85 football players? Fine. Here is what that will cost you." It was right there in black and white. $16 million paid to the University for athletes who are on athletic scholarship. The expense exists, no matter how much the dopes want to claim that the Operations side just winks and lets 200 kids walk around for free while professors and buildings and utilities need to be paid for.

 

[JayCane20]

You're joking, right? Here's a start: add up all the athletic scholarships we give out and multiply that number by $50,000. That's what we pay to the operations side of the University. Then start adding in coaches salaries. Then travel expenses for entire teams to fly all over the country. Let us know what you come up with.

Boosters usually pay a large amount of scholarships. Paul Dimare pays about 10 by himself I believe. They are usually sponsored. A recent donation to the school was $1 million for scholarships. Yes, a large portion of that money helps that cause but no nearly all of it

NOT everbody's on a full ride, ie baseball,soccer,track,tennis,etc..

Football is 85 full ride scholarships. Other sports are different, yes. They are given a chunk of money and give it out how they want.

 

[Roe 15th]

No

 

[Jaromir Jagr]

You're joking, right? Here's a start: add up all the athletic scholarships we give out and multiply that number by $50,000. That's what we pay to the operations side of the University. Then start adding in coaches salaries. Then travel expenses for entire teams to fly all over the country. Let us know what you come up with.

Boosters usually pay a large amount of scholarships. Paul Dimare pays about 10 by himself I believe. They are usually sponsored. A recent donation to the school was $1 million for scholarships. Yes, a large portion of that money helps that cause but no nearly all of it

And for today's accounting lesson, that money would go down as "Income". That other sheet, "Expenses", is where DiMare's money is then paid to the University for those athletes. It's still all right there in black and white.

 

[JayCane20]

You're joking, right? Here's a start: add up all the athletic scholarships we give out and multiply that number by $50,000. That's what we pay to the operations side of the University. Then start adding in coaches salaries. Then travel expenses for entire teams to fly all over the country. Let us know what you come up with.

Boosters usually pay a large amount of scholarships. Paul Dimare pays about 10 by himself I believe. They are usually sponsored. A recent donation to the school was $1 million for scholarships. Yes, a large portion of that money helps that cause but no nearly all of it

And for today's accounting lesson, that money would go down as "Income". That other sheet, "Expenses", is where DiMare's money is then paid to the University for those athletes. It's still all right there in black and white.

Well I am an accountant and my internship in college was doing **** like this for all the sports teams at Tennessee Tech so ya I'm aware.

All I was saying in that post is that the school is not only spending the money from what we get paid from the ACC. Most schools like Alabama and others are fully funded by boosters. They pocket the entire revenue from the SEC, SEC network, and bowl game money etc.

 

[BigDikCane]

So we can't pay 4 milli a year for a good coach?

Are you retarded? How did you come to that conclusion? The guy asked where our income goes, and I told him.

so we can't pay for a milli for a coach is what you're trying to say?

 

[Jaromir Jagr]

So we can't pay 4 milli a year for a good coach?

Are you retarded? How did you come to that conclusion? The guy asked where our income goes, and I told him.

so we can't pay for a milli for a coach is what you're trying to say?

No, I never commented on our ability to pay for a coach. Do you need some Advil?

 

[Tad Footeball]

I don't know why the scholarship thing is so hard to understand. The University of Miami gets paid for every student, no matter if that money comes from loans, grants, outside scholarships, etc. Just because the student doesn't pay the full price tag doesn't mean that SOMEONE doesn't pay that price in full. If I get financial aid, someone other than me pays for it, BUT THE UNIVERSITY STILL GETS THEIR MONEY.

This is also true for athletics. The University says "you're bringing in 85 football players? Fine. Here is what that will cost you." It was right there in black and white. $16 million paid to the University for athletes who are on athletic scholarship. The expense exists, no matter how much the dopes want to claim that the Operations side just winks and lets 200 kids walk around for free while professors and buildings and utilities need to be paid for.

Not necessarily. The "need based" aid like institutional grants can definitely allow plenty of non dollar-for-dollar reimbursement. Nonetheless, you're exempting scholarship athletes (that generate revenue for your institution) that you love to call student-athletes from a pool of need based financial aid that they wouldn't have to pay back that an overwhelming majority would qualify for under the qualifier of "well they don't have to take any student loans". I'd be comfortable in subtracting the $26k that the university is claiming that Joe Regular Student gets in aid from that retail cost of attendance and reimbursing the school the difference. And I say this as someone that is still paying off my UM student loans.

 

[caneinpsl]

I doubt we are just raking in the bucks when it comes to athletics. Supposedly the cash goes in the other direction. When you pay your tuition the fees for Athletics are right there on the itemized bill.

"The six elite leagues in Division I are those that participate in the Bowl Championship Series: the Atlantic Coast, Big East, Big Ten, Big 12, Pacific-10, and Southeastern conferences. Even with bowl-game revenues and television contracts, however, public institutions in those conferences provided an average of $5.9 million to athletics in fiscal 2009, including $2.4 million in direct general-fund support and another $2.4 million in student fees."

Myth: College Sports Are a Cash Cow

 

[We the Boss]

I hope the school did a transfer pricing study to determine how to expense the football team for teh scholarships.

 

[Noliaboi]

I don't know all the ins and outs of Miami's Athletic Department Budget, but If I was to guess, I would guess that the Football/Basketball/Baseball money is going to other areas outside of the Athletic Department.

 

[caneinpsl]

I don't know all the ins and outs of Miami's Athletic Department Budget, but If I was to guess, I would guess that the Football/Basketball/Baseball money is going to other areas outside of the Athletic Department.

That happens at every single school. Most schools athletic departments lose money even WITH the revenue from FB and Bball. Again, every student that comes to campus pays a fee that goes towards the athletic department. That wouldn't happen if athletic departments were profitable on their own.