Athletics programs in trouble financially?

[Steve19]

Already, in recent years, we have seen plenty of news about the drain athletics departments make on most universities (not Ohio State).

I can't see this entire article because I lost my password, but it looks like old T Boone Pickens legacy gift to Oklahoma State ain't what it used to be (link):


Debt Loads Weigh Heavily on Athletics Programs: Planned in boom years, costly facilities now burden bottom lines

John Biever, Sports Illustrated, Getty Images

The Oklahoma State U. athletics department had to borrow $38-million from the university to complete a stadium project after a donation from T. Boone Pickens (foreground) fell in value during the recession.


By Libby Sander and Brad Wolverton


Swank new practice facilities and 100-acre athletics villages may be magnetic recruiting tools, but they can be awfully rough on a balance sheet.

That is what some athletics departments have learned as they grapple with the bills from costly projects conceived in flush times.

Like eager homeowners living beyond their means, athletics programs were swept up in the recent boom. From 2003 to 2008, the largest departments raised nearly $4-billion in private donations to finance

 

[ORD_Buckeye]

Thanks for bringing this up. While Ohio State and a few other universities are immune from this, it is the norm in college athletics. Athletic departments are financial drains on most universities with no links proven as to any role in helping the school's overall fundraising or student recruitment.

I would hope that the University System of Ohio is watching the mad dash to build up their athletic departments at UC and Akron very closely. Particularly since both of these schools are already heavily indebted and on very shaky financial ground.

The taxpayers of Ohio rode to their financial rescue once already when they were absorbed (unnecessarily in the case of Akron) into the state system. I'd be damned pissed, if the state had to bail them out again because they went bankrupt chasing dreams of big time athletics.