Not bad considering how bad we are at b-ball.
at least it's not just us?
Not bad considering how bad we are at b-ball.
Wow, Duke operates its basketball program at a loss. I guess its partially because Cameron Indoor only holds about 3 people
it may not be counted against the Bball program soley, and even though they're the primary reason Nike has a contract with Duke, the money for admin purposes may be either general Ath Dept funding or spread out among multiple sports.
Yeah, and I'm not sure how much this has to do with it, but I think students don't pay for tickets. It gets taken out of their tuition I think. Something that I always thought was pretty cool.
I hate that I just called something regarding Duke's basketball program pretty cool
Donations to Duke's athletic department are driven by their main sport, namely basketball. I doubt that Duke included athletic donations as revenue for the basketball team.
Loss leader, I'm sure. The halo money that Duke brings in from its basketball program probably far outweighs the actual balance sheet stuff.
...as I'm an M alumnus and my daughter is a 2nd year Hoo. But, we are a "Family Feud" family as my son will be a Hokie next year. We'll see if my youngest breaks the tie or earns us the trifecta by going to W&M.
Future Hokie in the family? Don't feel bad. Sometimes you do all you can as parents and it still turns out different from how you'd hoped.
Actually, VT is a fine school - although like MSU it depends greatly on your major. I just....could never see myself wearing those colors.
...that both kids are happy. Having spent significant time on both campuses, the U-M:MSU::UVA:VT analogies are almost too rich.
Duke University, a top seed in this year's NCAA men's basketball tournament, reported the largest loss of any men's basketball program last year after years of annual profits in the $4 million to $5 million range. The school said that was due to a shift in revenue to the non-sport specific classification.
They don't run the basketball program at a loss, its just how they report it. I guarantee that program takes in more money for the university then it spends.
When Martin took over the bball team was hemmoraging (sp?) money to the point that only football and hockey were revenue positive (and that was before Yost modifications). If we now have three sports that are revenue positive for the Ath Dept, that is an advantage in the logistics/planning that we have over every U in the country...
I'm not positive, but I don't think men's basketball was ever losing money, even in the Ellerbe years. However, our profits from the big three sports weren't large enough to prevent the department as a whole from being in the red when Martin took over.
I was on campus at the time and I remember having a professor (in a class I took to fulfill the R&E requirement) who hated the athletic culture, especially football. She triumphantly announced to the class one day that the football program was operating at a loss. I tried to explain to her that she was confusing football with the AD as a whole, but she would hear nothing of it.
342 total schools on this list
Total Revenue = 42nd ($7.98M)
Total Expenses = 54th ($4.45M)
Profit = 33rd ($3.52M)
Profit Margin = 34th (44.20%)
OSU = 71% profit margin ($16M in revenue and $4.7M in expenses)
MSU = 42% profit margin ($15.6M in revenue and $9M in expenses)
Big Ten has 5 teams in the top 11 in terms of profit margin (OSU, IL, UofW, UofMinn and NW)
This is great. Imagine if the team starts to ya know make tourneys and do well every year.
Money cash money cash hoes is what!
No sarcasm there. Great news would be if they were profitable AND made the tourney (any tourney for that matter)
But you still made it come off like "Oh great who cares".
I think that it is a testament to Martin that all 3 of the major revenue programs are positive.
So yeah it is great news.
A lot of Big 10 schools seem to be doing pretty well. Does this have anything to do with the BTN?
Good news, probably helped that student tickets tripled from last year. I wonder what the balance sheet will look like next year when student tickets slump back down again. They better put a good product on the court to get butts in the seats.
You mean income statement, UMfan21.
Financial statement accounting is good course at U-M.
Being in the black is always good. It's a sign of generally successful teams and administrations. Plus, I personally like to not see schools use tax money to fund operations. It's kind of hard to justify millions for college sports when the state has to lay off employees and so many people are out of work.