I’d sure love to know what UT Chancellor Donde Plowman means when she said this:
Tennessee athletics expects to incur an operating loss of more than $28 million during the 2021 fiscal year, and it will rely on financial support from the university and the SEC to cover the deficit.
The projected loss is primarily tied to a steep reduction in ticket revenue because of the COVID-19 pandemic.
…
The university has committed $12.5 million in institutional support from financial reserves to help cover the deficit, Plowman said. That support is not funded by tuition dollars, she said. Additionally, the SEC will provide financial relief, Plowman said.
“I can’t go into all the details about what that conference package is going to look like, but what I can tell you is, that (operating deficit) will be covered,” Plowman said. “It will be close, but we’re going to make it.”
Is Greg Sankey bailing out UT athletics with a loan? An outright grant? An advance on TV money? That opens up an enormously potential conflict of interest. For example, how motivated will the conference be to support NCAA sanctions if it impacts the school’s ability to meet future financial obligations?
There’s no indication anyone’s asked the SEC office about this, but I’d sure love to hear the details.
Get The Picture 
What a cluster F. You may hear behind closed doors about trading UT for another school in the sec. All the buyouts in recent years has come back to haunt them. Never seen such a mess from the product on the field to even the spread sheet.
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Except for an advance on TV revenue I can’t see the conference doing anything else. Would it even be legal for the SEC to loan UT the money? I don’t see it.
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I sure would like to know more about the Bank of the SEC! Has that always been available but not needed until now? Is it special circumstances that allow the vowels to get money? Inquiring minds want to know! (well, mine does). Since this involves floppy top, sump ‘um in the milk ain’t clean.
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Guess they gotta go somewhere…..the Butcher’s are either DEAD by now or still in jail.
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This is a worrisome development. What happens the next time Tennessee goes through an implosion? This won’t be the last time. I can promise you that.
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I wonder if that deficit includes Pruitt and his staff’s buyout ($19 million) plus the $6 million paid to UCF?
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And costs of lawsuits and defending in front of the NCAA,
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“Sankey’s Bail and Bond Services”
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It’s always springtime in the SEC.
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“Springtime
for (Knoxville)
and (Tennessee!)”
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Raises lots of troubling issues. Documents and information on this have to have been provided to ADs and Presidents – quick, which state in the footprint has the shortest response time on an Open Records Act request?
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I hate it when programs that have been honest and responsible have to collectively bail out a program that has been irresponsible and wasteful.
(sounds like playpen materiel)
Is that what’s going to happen?
And is the rest of the SEC going to pay for NCAA imposed fines on UT?
Would they do the same for any SEC school? Because if they do it for UT then they’re setting a precedent that will send the wrong message to the other member schools.
Screw TN.
They made that bed. Let them lie in it.
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Inquiring minds would like to understand the logic and source behind Ben Bernanke’s, er, I mean, Greg Sankey’s bailout fund.
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Alex, I’ll take “What’s in the McDonalds Bag” for $15.5 million….
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The SEC continues to show UGA love by giving us Bama in the make-up basketball game instead of TAMU. That really reduces our chances of making the Big Dance.
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Understand what you are saying; but actually think this is the only way Georgia does get in – somehow beating the # team in the conference, showing improvement of the team. That record isn’t going to get them in.
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Well, we are a loooooooong shot to make the dance this season, but we damn sure don’t need another 100 hung on us. SEC screwing us once again. And I guess Brooksie is following in McGarity’s footsteps and saying “thank you sir, may I have another?”
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Oh boy… That’s all I need in life. Another group taking money from Paul to pay Peter who cannot manage his business (or open up function during a pandemic).
Couldn’t resist…
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If Paul doesn’t pay Peter, Peter’s gonna be sore. And there’s nothing worse than a sore peter!
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Could he just mean the annual SEC tv payout and the reporter sloppily used the word “relief,” because that’s what it is from a budgetary perspective for UT?
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That’s kind of how I read the remark “we’re lucky to be a part of the SEC.” It’s hard to imagine the conference going around and spending and lending money all willy-nilly.
Crap. I meant I CAN I imagine exactly that.
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That was what I was wondering also – when I read his quote saying that he can’t talk about what the SEC’s package will be but that he expects to be covered, barely, I read that as “the SEC hasn’t announced distributions to the member schools yet, but I’ve been given a sense of what that will be and it should be enough.” If the SEC were specifically giving Tennessee a loan to cover their shortfall then I would think you could say with certainty that it would be covered and not worry about whether it’s close or not.
I’ll definitely say that I’m once again please to have the sober financial leadership in Butts-Mehre.
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So the SEC is fronting them a little cash for Servpro to come clean up from the dumpster fire and water damage?
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And the lingering risk of crabs from Junior’s days.
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Wonder if this will work….:
Image result for burning dumpster gif
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Durn.
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Who would’ve thought that computer skills are perishable? Bothers the hell out of me.
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Break out that 1998 title and head to the campus Title Max office. And I wouldn’t be surprised if they thought they could really do that.
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The new norm – fuck up everything and expect a bailout.
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That is some shit.
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“ba-da-bap-bap-baaa …I’m lovin’ it.”
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Dammit, now I want McDonald’s for lunch. The salad that the better angels of my nature packed for lunch is looking really pathetic.
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Mr. Sankey? Auburn is on line 3. Something about being thankful to be in the SEC and a bailout?
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And on line four, a Mr. Newton saying something about how the caller on line three can go fuck itself and then laughing hysterically…
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Bailout?!?
That dumpster cluster dressed in urnge overalls???
That’d be like bailing out the Titanic with a mop bucket!!
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