BleedGopher
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per ESPN:
Maryland's financial issues aren't going away any time soon, and the move to the Big Ten hardly will be an immediate panacea.
Maryland on Tuesday released a report put together by Loh's commission on Maryland's integration to the Big Ten. It states that the athletic program won't be on solid financial footing until the 2017-18 academic year. Maryland athletics operated at a $21 million deficit in the past year, a shortfall that can be attributed largely to the revenue the ACC is withholding as part of its plan to collect a $52 million exit fee from Maryland.
From The Washington Post:
According to the report, the university has loaned the athletic department -- which has a goal of being self-sufficient -- upwards of $21 million to overcome the deficit, with additional loans of $20 million potentially required if the ACC continues to withhold revenue. The loans are funded by the university’s Non-State Auxiliary Funds, which are collected from school-run programs such as parking tickets and dining services, according to a university spokesman.
"That's borrowed money," Loh said Monday in a telephone interview. "That's not a gift to athletics. Unless we get [money] back from the ACC, athletics has to pay that back."
http://espn.go.com/blog/bigten/post/_/id/81400/marylands-financial-woes-not-going-away
Maryland Big Ten Commission report: Football practice facility seemingly still years away
On July 1, 2014, the University of Maryland will formally join the Big Ten. This means that, on July 1, 2014, the University of Maryland will formally become the only Big Ten school without an indoor practice facility, or without plans to build one.
The biggest potential upgrade on the horizon, squarely in the crosshairs of many fans, coaches and players alike, building such a facility must be financed by a capital fundraising campaign, and not university money, according to a report released by the school on Tuesday afternoon.
http://www.washingtonpost.com/blogs...practice-facility-seemingly-still-years-away/
Go Gophers!!
Maryland's financial issues aren't going away any time soon, and the move to the Big Ten hardly will be an immediate panacea.
Maryland on Tuesday released a report put together by Loh's commission on Maryland's integration to the Big Ten. It states that the athletic program won't be on solid financial footing until the 2017-18 academic year. Maryland athletics operated at a $21 million deficit in the past year, a shortfall that can be attributed largely to the revenue the ACC is withholding as part of its plan to collect a $52 million exit fee from Maryland.
From The Washington Post:
According to the report, the university has loaned the athletic department -- which has a goal of being self-sufficient -- upwards of $21 million to overcome the deficit, with additional loans of $20 million potentially required if the ACC continues to withhold revenue. The loans are funded by the university’s Non-State Auxiliary Funds, which are collected from school-run programs such as parking tickets and dining services, according to a university spokesman.
"That's borrowed money," Loh said Monday in a telephone interview. "That's not a gift to athletics. Unless we get [money] back from the ACC, athletics has to pay that back."
http://espn.go.com/blog/bigten/post/_/id/81400/marylands-financial-woes-not-going-away
Maryland Big Ten Commission report: Football practice facility seemingly still years away
On July 1, 2014, the University of Maryland will formally join the Big Ten. This means that, on July 1, 2014, the University of Maryland will formally become the only Big Ten school without an indoor practice facility, or without plans to build one.
The biggest potential upgrade on the horizon, squarely in the crosshairs of many fans, coaches and players alike, building such a facility must be financed by a capital fundraising campaign, and not university money, according to a report released by the school on Tuesday afternoon.
http://www.washingtonpost.com/blogs...practice-facility-seemingly-still-years-away/
Go Gophers!!
