“D. R. Hildebrand lives in New York City and is a 2003 graduate of the College of William & Mary, where he was a member of the swim team.”Roundball wrote: ↑Thu Sep 24, 2020 5:54 amInteresting piece. https://richmond.com/opinion/columnists ... 20adf.html
Despite my bid-ness degree from FU, I didn’t pay much attention in Mr. Seller’s Accounting classes...but I believe there is a BUKU of ‘fuzzy accounting’ in the numbers this author is citing...and around College Athletics, in general. One example is counting the cost of scholarships at “full retail value.” With 63 of them, that’s gonna crush Football’s P&L...but if those 63 men weren’t there on scholarship, would FU be able to find 63 students to replace them at full retail value? Pretty sure that’s a “No,” as almost no students pay sticker price at any school...and it’s not like FU is actually ‘spending’ that $4.4M like they would for Fountain Maintenance or Solar Panel Repair costs to an outside vendor.Furmanoid wrote: ↑Thu Sep 24, 2020 11:52 amI agree with much of what the author says. There is a widespread myth that football funds other sports. It is not true at very many places- certainly not at FU. And it is understandable that those associated with minor sports that lose a little money would be bummed that they are getting cut when sports that lose lots of money aren’t. And I do sometimes wonder if the whole FCS thing isn’t a little silly. You spend tons of money to pretend you’re a DI program so you can get some of it back with money games against the real DI. I think it’s heading for a cliff. But so is football in general so we might as well just enjoy it for a few more years. The game will probably be banned before we run out of money.
B-Minuses for me, if I recall. I think I had him for ACCTG11 & ACCTG12. Yeah, he was a very nice gentleman - I just wasn’t too much into that whole debits & credits scene at that point in my life.cavedweller2 wrote: ↑Thu Sep 24, 2020 9:40 pmBenton Sellers was an excellent accounting instructor. I think I managed a C+ in his class.
I only took Econ 11 with Peanut Johnson, but let’s work through this. Athletic revenues are about $4M. Is it fair to say only about 3/4 is football? Ok let’s say the scholarships are only worth 50% of cost of attendance so we’ll call it $30k x 63 = $1.89M. I think we have 11 coaches. Let’s say they aren’t in it for the money and are working for $50k including benefits- far less than they would make at a HS. There are 4 or 5 other staff. Well give them $20k each. So that is $2.5M. I guess if all promotions, equipment, maintenance, travel and insurance stays under $500k the program could be in the black.FUBeAR wrote: ↑Thu Sep 24, 2020 7:13 pmDespite my bid-ness degree from FU, I didn’t pay much attention in Mr. Seller’s Accounting classes...but I believe there is a BUKU of ‘fuzzy accounting’ in the numbers this author is citing...and around College Athletics, in general. One example is counting the cost of scholarships at “full retail value.” With 63 of them, that’s gonna crush Football’s P&L...but if those 63 men weren’t there on scholarship, would FU be able to find 63 students to replace them at full retail value? Pretty sure that’s a “No,” as almost no students pay sticker price at any school...and it’s not like FU is actually ‘spending’ that $4.4M like they would for Fountain Maintenance or Solar Panel Repair costs to an outside vendor.Furmanoid wrote: ↑Thu Sep 24, 2020 11:52 amI agree with much of what the author says. There is a widespread myth that football funds other sports. It is not true at very many places- certainly not at FU. And it is understandable that those associated with minor sports that lose a little money would be bummed that they are getting cut when sports that lose lots of money aren’t. And I do sometimes wonder if the whole FCS thing isn’t a little silly. You spend tons of money to pretend you’re a DI program so you can get some of it back with money games against the real DI. I think it’s heading for a cliff. But so is football in general so we might as well just enjoy it for a few more years. The game will probably be banned before we run out of money.
Anyway...it also ignores the value of having Football & Basketball in terms of attracting students - the whole “Front Porch Theory” - let’s quantify that & add some more fuzzy numbers to Football & Hoops on the + side of the ledger. Of course, we can do the same for Swimming, but I’m not sure how many digits would be to the left of those decimals.
About pretending to be Divison 1...FCS schools are nowhere near the pretenders that G5 schools are. We don’t go to silly bowl games, and (in most cases) don’t charge students exorbitant Athletics Fees to fund our folly. I don’t disagree necessarily...but I take a different perspective. I think FBS P5 schools are pretending to be college Teams. They are the ones that need to stop pretending and then re-sort out the G5 & FCS Teams that are the real D1 COLLEGE Teams.
You are right about Football soon being banned. With a death rate for HS & college players at least 100x greater than the ‘rona, how has it not been already?
