Iowa to discontinue four sports programs

[MplsGopher]

Not every school wants to go into debt even at low interest rates

Especially when 2021 isn’t guaranteed

Ok, but the U of Iowa???? Isn’t guaranteed 2021? Come on now.

The original point was that Iowa could’ve saved these sports if they actually wanted to save them, via such means as a loan.


Moreover, I will be surprised if any school, that was doing fine prior to the pandemic, closes down because of covid.

 

[Some guy]

Private donors have saved them in the past. Financial ramifications are severe and donors focus a great deal to the general AD fund. Really a tough ask right now. We already carry huge debt on the athletic village facilities. The department breaks even in a great year.

Yup.
i was talking generally about all colleges. Not specifically about MN

 

[hungan1]

Fans - hang in there and keep the faith that a "cure" or a serious of treatments will come to fruition in the next year.

We all miss our biggest opiate - college football. There is no better high or low than that!

 

[fmlizard]

Ok, but the U of Iowa???? Isn’t guaranteed 2021? Come on now.

The original point was that Iowa could’ve saved these sports if they actually wanted to save them, via such means as a loan.


Moreover, I will be surprised if any school, that was doing fine prior to the pandemic, closes down because of covid.

Iowa's current posture seems to be that they would play even if Kirk Ferentz is on a sideline vent

 

[alchemy2u]

Shit happened....

Times are tough and things will change, as they always do. But there will be a demand for college football when is comes back and money will flow again. It may take a while to build back up and some lower level teams will not survive. But life isn’t fair and there are plenty of high school kids missing out on opportunities all the time. Just as some kids can’t go to college because they can’t afford it, some will not go because there are fewer scholarship spots. People will make the most of their opportunities and the world will still spin around its axis.

 

[Word]

Is hockey vulnerable in the B1G? Maybe the Gophers and Badgers will go back to the WCHA.

I doubt anyone would cut mens hockey. Most big ten mens programs make money or break even.

Maybe women's hockey, but then you'd need to find a different mens sport or 2 to cut to make the scholarships match.

 

[MplsGopher]

Shit happened....

Times are tough and things will change, as they always do. But there will be a demand for college football when is comes back and money will flow again. It may take a while to build back up and some lower level teams will not survive. But life isn’t fair and there are plenty of high school kids missing out on opportunities all the time. Just as some kids can’t go to college because they can’t afford it, some will not go because there are fewer scholarship spots. People will make the most of their opportunities and the world will still spin around its axis.

Exactly. It was a natural disaster.

Their silly argument is like blaming people for closing down college teams because of economic impacts of a hurricane striking.

 

[Crosby]

Well, the WCHA concerting over to the CCHA was basically to ditch the Alaska’s and Huntsville. Lo and behold, Huntsville folded (I think? or did it get saved?) and now Anchorage folded.

Huntsville was saved by donors, for now. Not sure who they will play...

 

[Crosby]

Private donors have saved them in the past. Financial ramifications are severe and donors focus a great deal to the general AD fund. Really a tough ask right now. We already carry huge debt on the athletic village facilities. The department breaks even in a great year.

Aren't athletic departments set up as non-profits, which are designed to break even?

 

[hungan1]

Shit happened....

Times are tough and things will change, as they always do. But there will be a demand for college football when is comes back and money will flow again. It may take a while to build back up and some lower level teams will not survive. But life isn’t fair and there are plenty of high school kids missing out on opportunities all the time. Just as some kids can’t go to college because they can’t afford it, some will not go because there are fewer scholarship spots. People will make the most of their opportunities and the world will still spin around its axis.

One thing for certain. There will be a lot more austerity with college sports and more poor and needy people because of Covid-19.

I fear it gets worse before it gets better.

 

[builtbadgers]

Aren't athletic departments set up as non-profits, which are designed to break even?

Some make 60 million plus profit, we do not. Call it what you want, it is not set up to lose like this. The non profits we have chaired are not carrying 10's of millions in debt. Check out the last 20 years and here and there is no money. The athletic department would love donations like Texas AM that put us 50 million on the right side of things.

 

[MplsGopher]

Only one athletic dept in the country comes anywhere close to a "60 million plus profit", and the actual number is still only $43.7M.

That's Texas A&M, which has had an absolutely absurd amount of "contributions" (donations and such) the past five fiscal years, for some reason. https://sports.usatoday.com/ncaa/finances/

Maybe a bunch of oilmen are dumping a truckload of money into the program, for some reason? I have no idea, there is some story there.

 

[highwayman]

Alternately if those sports are super important ... someone could just fund them.

Yeah, its called the football seat license. However, that sucks and should be banned.

 

[From the Parkinglot]

University of Iowa cuts four sports in wake of COVID-19 pandemic, loss of fall football

Expected lost revenue of $100 million this academic year led to Friday's announcement of three men's sports and one women's sport being cut.

www.google.com

So they cut $4.25 million out of a $60 million dollar loss. Just cause football is a money maker doesn’t mean they should be absolved from cuts. I would imagine you could cut every program from Iowa that is not football and men’s basketball and it would not make up for the projected budget shortfall. Long and short of it football should be expected to make cuts during this time. There is no other way to fix these gigantic budget shortfalls.

 

[John Galt]

This is the tip of the iceberg. Within a month we’ll be hearing about a number of sports eliminated at our favorite university. And why? The belief that Covid will spread faster if we play one game on Saturday against Iowa, Wisconsin, etc. We live in a country with over 300 million people who are going to Target, restaurants, casinos and airports. But having 22 guys on a football field will push us over the edge and lead to a catastrophic number of deaths.

 

[Block M]

This is the tip of the iceberg. Within a month we’ll be hearing about a number of sports eliminated at our favorite university. And why? The belief that Covid will spread faster if we play one game on Saturday against Iowa, Wisconsin, etc. We live in a country with over 300 million people who are going to Target, restaurants, casinos and airports. But having 22 guys on a football field will push us over the edge and lead to a catastrophic number of deaths.

If sports are to be cut it will be because the U.S. failed Pandemic Control 101. It really is that simple.

 

[John Galt]

If sports are to be cut it will be because the U.S. failed Pandemic Control 101. It really is that simple.

It’s obviously not that simple since the sports I Iisted above are playing.

 

[MplsGopher]

Going to Target, casinos, restaurants, and airports, are sports?

Such a waste of time, trying to discuss religious issues with cultists.

 

[1983]

Big sports donors are slowing going away leaving TV and gate receipts to carry the load. At some point some of these sports need to go or just become club sports. Unfortunate for those who play those sports but it is reality. Now ids a good time to act on some of this.

 

[MplsGopher]

Iowa’s AD was on BTN talking about the decision. Says they’re projecting $100M revenue loss for this fiscal year, and the athletic dept will borrow $75M. No brainer decision on the borrowing.

This basically proves what people have been getting at: they very easily could’ve just borrowed $100M and kept the sports, if they actually wanted to keep them.

Covid will be used as an excuse by several athletic depts to cut sports that they’ve had on their “wish list” to cut for years, but didn’t have cover to do it.

 

[howeda7]

Iowa’s AD was on BTN talking about the decision. Says they’re projecting $100M revenue loss for this fiscal year, and the athletic dept will borrow $75M. No brainer decision on the borrowing.

This basically proves what people have been getting at: they very easily could’ve just borrowed $100M and kept the sports, if they actually wanted to keep them.

Covid will be used as an excuse by several athletic depts to cut sports that they’ve had on their “wish list” to cut for years, but didn’t have cover to do it.

It's not a no-brainer but they have no choice. Let's say they operate in the black at $10 million/year. It will take them 8 years to pay it back. Adding $25 million makes it 10 years. And they may not have full revenues next year. I predict almost every school will be cutting sports, and it's not just using COVID as cover.

I'm glad the athlete's village is built or it would be screwed. And slap a coat of pain on the Barn, it's not going anywhere anytime soon.

 

[MplsGopher]

It's not a no-brainer but they have no choice. Let's say they operate in the black at $10 million/year. It will take them 8 years to pay it back. Adding $25 million makes it 10 years. And they may not have full revenues next year. I predict almost every school will be cutting sports, and it's not just using COVID as cover.

I'm glad the athlete's village is built or it would be screwed. And slap a coat of pain on the Barn, it's not going anywhere anytime soon.

It’s a no brainer in the senior how low rates are.

Right, two extra years of debt service. Peanuts. They’ve afforded it all these years, they’d continue to when things go back to normal. They just didn’t want to.

If it were allowed, they’d cut sports to just football, wrestling, and men/women’s bball.