“The loan, provided by the athletic association, is another burden on the department’s finances.”

This is how Georgia Tech rolls.

… The department was facing a $700,000 deficit for its annual budget prior to the loan and the fund balance was projected to end the fiscal year at $4.6 million in the red.

The repayment ends a curious and embarrassing episode for Tech and Stansbury, whose original contract was designed to address the buyout obligation to Oregon State in the form of a salary that was 80% higher than his income at Oregon State and $200,000 greater than his predecessor Mike Bobinski, as well as a $1.1 million loan from Tech that would be forgiven if he were to stay at Tech for the length of his five-year contract.

I thought those people were supposed to be good at math.


Filed under Georgia Tech Football, It's Just Bidness

17 responses to ““The loan, provided by the athletic association, is another burden on the department’s finances.”

  1. It’s simple adding and subtracting. If it doesn’t involve calculus or a differential equation, you can’t really call it math according to Mensa members at StinkTalk.

    Liked by 1 person

  2. Dylan Dreyer's Booty

    You could have used the “Gee You’re Dumb” title for this post just as accurately as in the previous one.

    Liked by 1 person

  3. Otto

    When they’re QB can’t count to 4……..


  4. The other Doug

    McGarity makes about $700k a year. Why would GT pay Stansbury $950k a year?


  5. When a nerd has no fingers and or toes to count on…this is whut you get…..nerd football, I do miss me it when they think they are smarter than the average bear


  6. Russ

    Just get a few of their millionaires to pay it.

    Liked by 2 people

  7. Macallanlover

    Not playing “one up” on tech stupidity, but in the 90s, a friend made a substantial pledge to gt and they named the business school for him. Problem was he backed his pledge with (I think) $20MM of stock in his own company. He proceeded to fly his company into the dirt and lose everything he had (dummy had about $180MM in stock, all in his own company, but never diversified into anything else that was liquid), so he never could pay. Not long after it had been announced, they had to embarrassingly renounce it…for business reasons. I believe it was his 2nd bankruptcy, and he was under 50 at the time. They have some experience at screwing things up.

    Liked by 1 person

  8. Chuck

    This is the guy who is supposed to be responsible for the Tech athletic department’s finances?

    Liked by 1 person

  9. Chuck

    Actually, on second thought, maybe he played it perfectly.