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CU Regents turn down Rick George's request to forgive AD debt

Discussion in 'Colorado Football Message Board' started by Buffnik, Sep 17, 2013.

  1. Buffnik

    Buffnik Real name isn't Nik Club Member Junta Member

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    Brittany Anas covers higher education for the Boulder Camera. Looks like she's a good twitter follow.

    https://twitter.com/BrittanyAnas


     
  2. Darth Snow

    Darth Snow Hawaiian Buffalo Club Member Junta Member

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    she's not exactly supportive of the AD. Definite slant to what she says. But she's the only one covering it. sigh.
     
  3. tante

    tante Club Member Club Member

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    so is it $19 million or $22 to $25 million. We really need to get the scholarship endowment up.
     
  4. J.R. Ewing

    J.R. Ewing Club Member Club Member

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    We really need to get some friendly regents on the board.
     
  5. GoBuffs08

    GoBuffs08 Well-Known Member

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    Yeah, good luck with that. Boulder is overrun with the mentality that CU football financially takes away from other departments on campus.

    If the regents wanted to cut the athletic department a break they could simply charge in-state tuition for all scholarship athletes. Instead they charge the AD the out of state rate, even if the kid on scholarship is a Colorado resident.

    In the last election didn't most refuse to even discuss CU athletics with this site?
     
  6. Darth Snow

    Darth Snow Hawaiian Buffalo Club Member Junta Member

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    Trustee elections are statewide.
     
  7. dply

    dply Doble hoja Club Member

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    Isn't she the one who wrote about the students going to the games in black face?
     
  8. Uncle Ken

    Uncle Ken Orr no morr Club Member

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    http://www.dailycamera.com/news/ci_17288625

    Yes, but I always assumed she was making fun of the people that thought that. The photo would confirm...
     
  9. Buffnik

    Buffnik Real name isn't Nik Club Member Junta Member

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    She's a fashion and style writer whose day job is to cover higher ed for the Camera. It is what it is. And she is the only reporter on this beat.

    I'd love to interview her for Allbuffs, actually. She's got a different POV and is kind of entertaining.
     
  10. Goose

    Goose Hoops Moderator Club Member Junta Member

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    And if that right there doesn't perfectly show the state of higher education in Colorado, I don't know what does.
     
  11. SpacemanSpiff

    SpacemanSpiff Club Member Club Member

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    fify
     
    Buffnik and Uncle Ken like this.
  12. BuffUp

    BuffUp W.T.T.F. Club Member

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    seriously ?
     
  13. leftybuff

    leftybuff Iconoclast Club Member

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    to forgive is divine....
     
  14. BuffNut99

    BuffNut99 Club Member Club Member

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    Ask her if she takes it up the anas.
     
  15. 4DemBuffs

    4DemBuffs Most admired poster Club Member

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    I think you mean "up the r's."
     
  16. sackman

    sackman Club Member Club Member

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    I would be surprised if the school forgave the debt. That would be pretty irresponsible, actually. The best advice I can give Mr. George is to add an extra $20MM to his capital campaign to retire the debt.

    Honestly, they need to have an ongoing fundraising effort to fund things like scholarship endowments, facility upgrades, etc. Why this hasn't been initiated already is beyond me. Maybe it has, and they have just been really bad at it.
     
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  17. Junction

    Junction Moderator Club Member

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    Or by Congressional District...
     
    Last edited by a moderator: Sep 17, 2013
  18. Darth Snow

    Darth Snow Hawaiian Buffalo Club Member Junta Member

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    sorry bout the edit. wrong button. content remained the same.

    Anyways, tomato, tomato.
     
  19. 4DemBuffs

    4DemBuffs Most admired poster Club Member

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    Both are good on sammiches.
     
  20. Junction

    Junction Moderator Club Member

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    I've done the same thing with the edit buttons - no sweat...

    But there is a difference between a statewide vote and a vote by Congressional District. With each CD having a representative, you're guaranteed to have a Rep from District 1 and one from District 2. Essentially Denver proper and Boulder. And they stand a pretty good chance of echoing those "Boulder community" attitudes somebody mentioned. It probably isn't going to change anything either way on this issue, but it does make a difference to CU overall...
     
  21. Creebuzz

    Creebuzz Club Member Club Member

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    The regents bear a good deal of responsibility for the AD debt. If not for their foolish vote to spurn the advances of the PAC10 in the 90's and opt instead for the Big XII, then at least half of this debt wouldn't be. It was costly to exit the Big Tex conference.
     
  22. lvbuff

    lvbuff Well-Known Member

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    I have heard that the PAC-12 revenue stream should be in the $20 million range per institution this year. What if a portion of that was used to buy down the debt. I have heard rumblings that the amount should increase FY2014 then come down a little in 2015 as Utah will get a full share. If they would allocate roughly 25 percent of that income to debt pay down then the athletic department could be in the black by 2016-2017. Of course if basketball can continue winning and football stays on its current trajectory a lot of problems will be resolved.
     
  23. CUFan

    CUFan Welcome back Club Member

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    I wouldn't donate to pay off the AD's debt for a school that has neglected it's athletic programs for decades. In fact, if I were a big donor, I would expressly indicate that my donation go only to facilities improvements or endowments and is NOT to be used to pay off the schools mistakes. This is the schools problem, not the ADs problem. Does the school have to charge the AD out of state tuition for every athletic scholarship (at least I think I've read here that's how this is)? Does the school recognize that good athletics increases applications and is good for school on the whole? Does the school prefer the PAC 12 to BIG Whatever (does the PAC add academic prestige)? The school created many of these AD problems (via neglect) and is benefiting from the AD, so they should be paying their share and effectively investing in the program (together with donors).
     
    Last edited: Sep 17, 2013
  24. Scotch

    Scotch Registered User Club Member Junta Member

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    Agree on the bolded.
     
  25. sackman

    sackman Club Member Club Member

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    I agree with a lot of what you're saying here. I think the school itself could do more to help put the AD in the black. Charging in-state tuition to all athletes would be a good start.

    I would also like to know exactly where the debt came from. Some of it was supposedly from when they built the sky boxes and club level, but I could swear I remember hearing that the AD had paid off that obligation. So is it all from firing two football coaches coupled with the lack of conference distributions for one year? If somebody wants to tell me that part of it is paying off Mike Bohn, I'll kick him/her square in the nuts. That was Phil's decision and he can pay for it.
     
  26. Buffnik

    Buffnik Real name isn't Nik Club Member Junta Member

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    You've got the coach firings, the 2-year shortfall from changing conferences, the KMM settlement in women's hoops, the Bohn settlement, and all the money previously borrowed for the tri-fecta of Barnett settlement/skyboxes/scandal settlements. At best, the annual budget was balanced in any of the Bohn years but the AD didn't pay back monies borrowed. I don't know all the details and I may be off on some, but the bottom line is that we have an Athletic Department that's $20MM +/- in the hole, had increased costs of firing Embree & Bohn plus increasing salaries to other coaches (including what HCMM & staff are being paid, Rick George's salary, etc.) and also had a pretty big financial nut added with W-LAX in order to avoid Title IX penalties.
     
  27. Buffellow85

    Buffellow85 Well-Known Member

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    Another option to paying down debt is to secure naming rights to Folsom.
    I'm sure if would be a hot button with the alumni as well as others on this board, however it would be less painfull than spending cuts
     
  28. DBT

    DBT Club Member Club Member

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    I think he was doing due diligence by asking. I'm sure he knew the odds were slim. I wonder how much the debt issue had to do with Bohn's dismissal? A big part, I'm sure. As well as his lack of an effective plan to eliminate it.
     
  29. Buffnik

    Buffnik Real name isn't Nik Club Member Junta Member

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    Make Folsom host to a summer concert series plus maybe an event or two during the academic year. That would not only bring in a bunch more money specifically from the events, but it would dramatically increase the value of the naming rights and other stadium advertising.
     
  30. Buffellow85

    Buffellow85 Well-Known Member

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    Seeing the Stones play at Folsom in 81' was one of the highlights of my Sophmore year.
     

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