I would not qualify as “someone in the know” for you, I am sure. However, I do know how to read with understanding. There is nothing scary about it. It means that whatever is going to be spent overall in athletics, as athletics continues to increase spending, is going to increasingly depend upon (a) how well athletics overall is able to bring in revenue from its operations and (b) how much money can also be brought in from outside donations of all sizes. It means that there are obviously necessary limitations on what part of the university’s funds can go to athletics.tim wrote: ↑Tue Jan 17, 2023 2:04 pmI noticed that. I would like someone " in the know" to expound on it. Sounds kind of scary.affirm wrote: ↑Tue Jan 17, 2023 12:29 pmI would not think the university would kick in the balance after this most generous donation from Mr. Curry. Instead, I would think that this most generous donation from Mr. Curry would help bring in many additional donations. If that does not happen, then we just have to wait another 4-5-6-10-15 years, or whatever, until we see that enough Furman supporters actually do want this.apaladin wrote: ↑Tue Jan 17, 2023 12:20 pmThat is the way I read it. Still nowhere close to even an announcement. Hope that is wrong and we are closer than we think. Would hate to think we are still 2-3 years away from even an announcement. If this is true, in 2+ years we”ve only reaised approximately 25%. You would think the university would kick in the balance after this most generous donation from Mr. Curry. The longer they wait the more expensive it gets.FU Hoopla wrote: ↑Tue Jan 17, 2023 12:11 pmI read it to say we are a little over 20 million raised, we will need probably 15-20 million more and then Mr. Curry's 10 million will be added to the pot.apaladin wrote: ↑Tue Jan 17, 2023 12:01 pmFirst thank you Mr. Curry!!! That is an awesome donation! So now JD pretty much said nothing is happening until the balance of the moneyis raised. He said more than half has been raised. Does that inckude Mr. Curry’s donation or not? Either way reading between the lines we are/were not close to raising the money needed after 2+ years which is disappointing. JD has said many times they were waiting for that one “cornerstone” donation to get things rolloing. Ok FU has that now thanks to Mr. Curry. The ball is now in Furman’s court.
So now we know we still need to come up with 15-20 million to green light the project, hopefully this gift being made public will motivate others to come forward.
I do not think you just go spending the endowment or spending operational expenses that need to go elsewhere.
Do not overlook this, which was the 7th paragraph in the announcement about Mr. Curry's gift:
Curry’s gift, and others that will fund the project, also represents Furman Athletics’ shift to being funded by sports revenue and philanthropy, Donnelly said.
tim liked this
Save the rest for later if it ever becomes a point at all.
