In a year in which it won the SEC and played in the national title game, Auburn managed to turn in an athletic department operating deficit.
Severance payments totaled $2.7 million in 2013, largely for Chizik and his staff after the Tigers went 3-9. Auburn Senior Associate Athletics Director Jack Smith said the athletics department drew upon a cash reserve of more than $15 million to cover last year’s operating deficit.
Jay Jacobs is the bizarro Greg McGarity.
But that’s not even the most remarkable part of the story. This is: “Student fee subsidies also prevented Auburn from reporting deficits on its NCAA reports in 2011, 2010 and 2009.”
How do you win a national football title and lose money (but for what you forcibly extracted from students)? Shoot, Tennessee used to be my gold standard for financial mismanagement in the conference, but at least the Vols have the excuse of not winning anything for a while.
Even Maryland managed to avoid finishing in the red last year.
Maybe Saban’s master plan is for Alabama to spend so much money that it forces Auburn into bankruptcy trying to keep pace.