And the beat goes on…
Meanwhile, Wisconsin joins the ranks of Clemson in asking donors to become part of something larger than themselves.
The Wisconsin Badgers are facing a critical financial challenge but we remain committed to our mission of achieving long–term excellence. If the football season is canceled, we are facing a revenue shortfall in excess of $100 million. In the best-case scenario where we’re able to complete a conference–only schedule with limited capacity at home games, we still stand to lose $60–70 million in revenue. Without financial support from our community, the experience we love as Badgers is at risk.
In order to emerge stronger than ever, we are calling our fellow Badgers, who have helped build this extraordinary legacy.
The Badger Legacy campaign aims to do just that: provide an opportunity for all Badgers to play a role in furthering the legacy of Wisconsin Athletics that has been built over many decades. We want to ensure we continue raising trophies, developing student–athletes that make us proud and we keep the world watching when we Jump Around.
… To directly fund our student–athlete services during these challenging times, we are providing season ticket holders the opportunity to reinvest their ticket and seat donation contributions. These resources will go specifically to support scholarships, training and a range of academic and athletic support services for the student–athletes we cheer every game day.
Do it for the kids, yadda, yadda, yadda. It’s evergreen bullshit.
Meanwhile, Larry Scott is busy propping up his conference’s finances.
The Pac-12 is planning a mammoth loan program that would provide an escape hatch for cash-strapped athletic departments in the event the football season is canceled because of coronavirus, according to internal documents and conference sources.
Football accounts for the majority of each department’s revenue, generating in excess of $50 million dollars in ticket sales and media rights alone.
The loan program would be large enough to cover that loss for each school, if needed:
According to a series of emails obtained by the Hotline through public records requests, the loan would provide a maximum of $83 million for each university at a rate of 3.75 percent over 10 years.
Each athletic department could decide whether it wanted to participate in the program.
If all 12 opted for the maximum amount, the total would be $996 million.
“The conference is trying to be nimble and give schools some options,’’ a source said.
The collateral for the loan is future television revenues.
The point isn’t to mock Scott for doing this — hell, it’s good business to save what you can for a better day — but to point out that, at least for P5 programs, the apocalypse probably isn’t upon us. And by that I mean the business model that they love isn’t going the way of the dodo any time soon. Not as long as they’re willing to do it for the kids, anyway.
8 responses to “Thank you for supporting our shitty business model.”
According to ESPN, Sark’s previous annual salary was 1.65 mil, so that’s a pretty nice bump in pay. I wonder how long it was in the works. I’m guessing it didn’t just happen overnight, but the optics don’t look great right now. I also wonder if there are any clauses in the contract in case the season gets cancelled.
Supposedly worked out in February when he was in the mix for the Colorado job.
Is that dodo or do do?
….. based upon the title of the article……
I think the Sark was making somewhat over $3 million a year at USC when they cut him loose for drinking on the job. At Washington, he started at $1.75 million in 2009, rose to $2.3 million by 2013 after which he left. Now he’s back in familiar territory. The mind boggle$.
Sark’s salary is INSANE.
I hope one bright spot about this whole Covid Crap is that the coach’s salaries start decreasing.
A Pac-12 loan? Heck, ditch your lousy network and sign a fat contract with Mickey. Two birds…
Or is Scott loaning them the money from his own pocket? Pac-12 should be able to do better than 3.75%/10 years right now.
Holy sh1t! Sark gets $2.5 Mil as OC!