Ollie's salary, where does the money come from?

[Jaichim24]

So, I saw the below in my FB feed this morning. I believe that his salary is derived from the Sports department money, and I think that is funded by sports, not state tax money. Is that correct? In 5 sentences or less can someone write up an answer to it?

Since UConn is a state college are our taxes paying for Ollie's $15,000,000 5-year contract????,,,

 

[aceboon]

NOTE: No General Fund (state tax dollars) or tuition monies were used to provide any of the resources for this contract. The Division of Athletics at the University of Connecticut is an Auxiliary Service Fund entity and the sources of revenue include: gate receipts, private fundraising, corporate partnerships, television/radio rights, conference revenues and NCAA revenues.

http://borgesblognhr.blogspot.com/2014/05/kevin-ollie-signs-five-year-deal-with.html#links

 

[HooperScooper]

Not a dime back!

 

[noeynox]

Oh my, so we can't have someone show up at a press conference and demand he take a pay cut to save tax dollars????

 

[Jaichim24]

NOTE: No General Fund (state tax dollars) or tuition monies were used to provide any of the resources for this contract. The Division of Athletics at the University of Connecticut is an Auxiliary Service Fund entity and the sources of revenue include: gate receipts, private fundraising, corporate partnerships, television/radio rights, conference revenues and NCAA revenues.

http://borgesblognhr.blogspot.com/2014/05/kevin-ollie-signs-five-year-deal-with.html#links

Thanks for the info, this is perfect!

 

[CallMeBruce]

Who gives a damn? He's worth more than he gets paid, in the sense that he's responsible for more revenue than his salary.

 

[Gurleyman]

Way back when, a reporter asked Babe Ruth how he could be making more money than the president, and he said, "well, I had a much better year than he did." Ollie had a much better year than any other state employee (besides Geno, who already was making serious coin).

People everywhere have snits over coaches salaries, but we're a capitalist country with a culture that over-values entertainment. Athletes, coaches, TV stars, movie stars, musicians make silly money. Katy Perry probably makes more than every nurse in New England combined, even though half of them are probably better singers.

It probably would be nice if we could go back 150 years and remove athletics from under the educational umbrella and have a set up like Europe - you go to school for school, and you play sports for local clubs. But that genie left the bottle long ago, and there's no way to stuff it back in now.