Interesting: 2016 Fiscal Budget
http://www.mgoblue.com/genrel/061815aaa.html
Looks like Michigan is projected to run on a budget deficit next year. The extra millions from Adidas or other apparel sure sound more appealing by the minutes if they want to keep it in the black.
The budget deficit ($7.9 million) was for this recently completed season; they are presenting a balanced budget for 2015-16. The deficit, obviously, was a result of lower than expected ticket sales and higher than expected compensation costs (i.e., buyouts & signing bonuses)
"The University of Michigan Athletic Department presented a balanced budget based on operating revenues of $153.6 million and operating expenses of $153.6 million to the Board of Regents for the 2015-16 fiscal year"
Do you know if facility upgrades factor in because what does the AD spend $150 million on. I thought I read that OSU (or maybe Texas) was operating at a huge loss. My guess is just every sport (other than football, basketball, and hockey) costs a ton to travel, compete, pay for security/facilities and they lose tens of thousands.
They talk about the deferred maintenance fund but I would assume that isn't being used for major upgrades.
Not many athletic departments technically run at a surplus if I recall, but that's because the full value, not necessarily cost, of scholarships is accounted for as an expense, IIRC. I'm sure there are people on here who can explain this better than I can.
DB and all the other idiots he hired were getting paid way too much and it took even more to get rid of them
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to dave