UMD we have a problem

[John Glass]

according to the Washington Post and Baltimore Sun there are major financial problems.

They include a 21 million dollar annual deficit , and a 80 million dollar debt. The problem will not be solved overnight since MD will not get a full share from the big Ten for a few years. Maryland is also facing a 52 million dollar lawsuit from the ACC over their exit fee.

There is also a report showing the negative impact on student athletes the additional travel will have.

 

[Icebear]

This is not new news. The Big Ten was aware when they offered MD.

http://sportsillustrated.cnn.com/2012/writers/the_bonus/11/26/maryland-athletics/index.html

http://www.testudotimes.com/2011/7/...s-athletic-department-debt-exceeds-83-million

 

[HGN]

I saw that Washington Post story on the University of Maryland Athletics..........And saw where the ACC did indeed angrily withhold $15Million from Maryland , saying that Maryland owed the ACC the $52Million exit fee. The first thing I thought of was how the ACC 'raided' the Big East Conference for its teams. But is trying to hamper anyone from leaving the ACC.

 

[UcMiami]

And now people want them to start paying their scholarship athletes extra money from all the profits they are making on their backs. So does that mean they can pass on their debts to them as well?!

 

[Goodgood]

A couple of donations from their most famous alumni like Sergei Brin (Google), Kevin Plank (Under Armour) or Al Carey (Pepsico) would get them back on their feet in no time.

 

[John Glass]

A couple of donations from their most famous alumni like Sergei Brin (Google), Kevin Plank (Under Armour) or Al Carey (Pepsico) would get them back on their feet in no time.

Plank has already given plenty. The debt would probably be double what it is if not for Plank.

 

[DaddyChoc]

Plank's donations... geesh he's barely 40

 

[John Glass]

Plank's donations... geesh he's barely 40

That is the tip of the iceberg , UA sponsors MD athletics and pays millions