Adventures in fiscal mismanagement, University of Cincinnati edition:
In February 2014, then-University of Cincinnati President Santa Ono announced that he had chosen Mike Bohn as the school’s new athletic director.
“To recruit a leader of Mike’s caliber and national standing only reaffirms the strength, promise and pride of UC Athletics,” Ono said during Bohn’s introductory news conference.
Bohn was awarded a five-year contract. In 2015, Ono extended his contract through 2021, prompting the UC athletic director to promise a “seismic transformation” within the program.
“We want national respect and the ability to play on the biggest stage possible,” Bohn told Fox19 in October 2015. “It’s really fun to be a part of. I feel like this is our time.”
While the UC Athletic Department has experienced a profound transformation under Bohn, it is not the one he intended. Deficits have soared and students are paying the price.
Between 2014 and 2017, the athletic department’s deficit totaled almost $102 million — a 33 percent increase over the prior four years, records show.
Okay, so the guy obviously can’t manage money. That hardly makes him unusual. What’s so special at Cincy?
UC officials have covered the deficit with student fees and money from the school’s general fund, which is primarily funded by student tuition. For a full-time undergraduate student, the four-year price tag to cover the athletic department’s deficit was almost $4,900, records show.
Holy money drain, Batman!
The department’s total expenses for 2017 were $62.8 million, meaning student subsidies covered nearly 43 percent of their expenses, records show.
Wow. How do you sell that?
The News Record attempted on numerous occasions over six weeks to schedule an interview with Bohn through a UC Athletic Department representative. Despite their assurances that a meeting with Bohn was forthcoming, they were unable to arrange the interview.
“It’s an investment, and it’s an investment in the enterprise on campus,” Bohn said of athletic subsidies in a 2015 interview with CityBeat. “It’s a strategic investment with a high return.”
These guys don’t lack for blind arrogance, do they? I think students would have done better putting that money in a CD.