OT- Penn State to get Hammer of Thor Dropped on them

[huskymedic]

Sigh. Please tell me how you figure this. The school takes all revenue and pays for athletics. The academic side doesn't make a dime. Donations are considered PART of athletic revenue. As for $1 billion, they don't have $1 billion. The entire university would have to shut down.

So, shut down the football program, don't shut down the university. Why do that? Shut down the Catholic Church too while you're at it. Civil judgements will roughly be in line with those anyway, and the recent money paid by the Church to victims is about $2-3 million.

I don't want Stinger doing my taxes but he's close (he's at the far end of the red lot @ the Rent as opposed to being in the ball park).

http://businessofcollegesports.com/2012/03/19/most-profitable-athletic-departments-big-ten/

 

[upstater]

I don't want Stinger doing my taxes but he's close (he's at the far end of the red lot @ the Rent as opposed to being in the ball park).

http://businessofcollegesports.com/2012/03/19/most-profitable-athletic-departments-big-ten/

I've gone over this a ton of times. It's a sham. Creative accounting. PSU makes $80 million of its $115 in revenues from contributions ($35 million), selling paraphenalia (t-shirts and the like) ($35 million), and $10 million from soda licensing revs and such on campus (counted as AD money, would otherwise go to academics). If you back out just 10% of the contributions, 10% of the paraphenalia (i.e. $7 million), add $10 million from soda and other deals with Pepsi and the like, consider scholarship subsidy for the true cost of attendance per student, and then the fact that PSU services the debt on athletic facilities, that $15 million a year in profit vanishes.

Not to mention the fact that the deemphasis on football in the next few years is going to kill football contributions and licensing (bowl game ban ironically means that PSU will profit more unless the B1G decides to withhold revenues).

 

[Stinger92860]

I don't want Stinger doing my taxes but he's close (he's at the far end of the red lot @ the Rent as opposed to being in the ball park).

http://businessofcollegesports.com/2012/03/19/most-profitable-athletic-departments-big-ten/

You people are incredibly stupid....Gray Lot D-head and yes the Catholic Church should be shut down.

The university (PSU that is) offers more than 160 majors among all its campuses and administers $1,831.1 billion (as of June 30, 2011) in endowment and similar funds

http://articles.businessinsider.com...n-state-football-football-team-college-sports

The Penn State football team is the third most profitable program in all of college sports. In the 2009-10 academic year, the Penn State football program ​

produced $70.2 million in revenue and a profit of $50.4 million​

.Do your taxes??? I should give you money for for food and a vasectomy. The last thing we need is for you to breed. ​

 

[UCername]

They didn't have a legal obligation. The charter is expressly clear on this. They are to stay out of all governance matters and only conduct hiring. This is why they sought reforms in 2004. They wanted to change the university's charter. They had the exact opposite of legal authority in this matter. Legally, they were expressly forbidden from interfering by Penn. state law.

Sorry man, not trying to get in a pissing match with you but their expressed obligation does not stop at the hiring (see below, from the PSU charter). In my profession I have moved some people into and out of boards so this ain't my first rodeo...

Last 2 sentences are pretty standard and do NOT relieve board liability:

"This delegation of authority requires that the Board rely on the judgment and decisions of those who operate under its authority. However, this reliance of the Board must be based upon its continuing awareness of the operations of the University. Therefore, the Board shall receive and consider thorough and forthright reports on the affairs of the University by the President or those designated by the President. It has a continuing obligation to require information or answers on any University matter with which it is concerned.

Finally, upon request the Board shall advise the President on any University matter of concern to him/her."

 

[upstater]

You people are incredibly stupid....Gray Lot D-head and yes the Catholic Church should be shut down.

The university (PSU that is) offers more than 160 majors among all its campuses and administers $1,831.1 billion (as of June 30, 2011) in endowment and similar funds

http://articles.businessinsider.com...n-state-football-football-team-college-sports

The Penn State football team is the third most profitable program in all of college sports. In the 2009-10 academic year, the Penn State football program ​

produced $70.2 million in revenue and a profit of $50.4 million​

Sigh. The budget consists of many campuses. UP's budget is smaller. Besides that, the part of PSU's budget that is fungible is so much even smaller than that. The Research budget is huge, it's most of the total budget. companies and institutions are not handing over PSU money so that PSU can sustain its football program (by paying out). That money is untouchable. As is much of the endowment. only the fungible part of PSU's general budget and indeed its tuition can be touched. This comes out of academics.

Do I really need need to state the obvious about PSU's so-called football budget? Given Title 9, we know that all but a fraction of that profit is routed into other athletic teams. Which means, PSU should either shut down athletics at this point or otherwise charge students higher tuition to make the payment to the NCAA.

I'm simply suggesting that they are better off shutting down sports.

 

[upstater]

Sorry man, not trying to get in a pissing match with you but their expressed obligation does not stop at the hiring (see below, from the PSU charter). In my profession I have moved some people into and out of boards so this ain't my first rodeo...

Last 2 sentences are pretty standard and do NOT relieve board liability:

"This delegation of authority requires that the Board rely on the judgment and decisions of those who operate under its authority. However, this reliance of the Board must be based upon its continuing awareness of the operations of the University. Therefore, the Board shall receive and consider thorough and forthright reports on the affairs of the University by the President or those designated by the President. It has a continuing obligation to require information or answers on any University matter with which it is concerned.

Finally, upon request the Board shall advise the President on any University matter of concern to him/her."

It's not a pissing match.

It's a discussion. Not a life or death fight to the finish.

I'd emphasize "with which it is concerned." This is precisely about the controversy over reforms in 2004.

The whole point of my post is that the BOT was implicated in the whole scandal so the idea they could provide oversight here is ironic--to say the least. And, there was already a power struggle in governance. All ofthis is just pushing for more oversight from the BOT--the exact last thing that PSU administration needs at this point.

 

[huskymedic]

You people are incredibly stupid....Gray Lot D-head and yes the Catholic Church should be shut down.

The university (PSU that is) offers more than 160 majors among all its campuses and administers $1,831.1 billion (as of June 30, 2011) in endowment and similar funds

http://articles.businessinsider.com...n-state-football-football-team-college-sports

The Penn State football team is the third most profitable program in all of college sports. In the 2009-10 academic year, the Penn State football program ​

produced $70.2 million in revenue and a profit of $50.4 million​

.Do your taxes??? I should give you money for for food and a vasectomy. The last thing we need is for you to breed. ​

Best you can do?

 

[brasssbonanzaa]

You people are incredibly stupid....Gray Lot D-head and yes the Catholic Church should be shut down.

The university (PSU that is) offers more than 160 majors among all its campuses and administers $1,831.1 billion (as of June 30, 2011) in endowment and similar funds

http://articles.businessinsider.com...n-state-football-football-team-college-sports

The Penn State football team is the third most profitable program in all of college sports. In the 2009-10 academic year, the Penn State football program ​

produced $70.2 million in revenue and a profit of $50.4 million​

.Do your taxes??? I should give you money for for food and a vasectomy. The last thing we need is for you to breed. ​

An endowment is not "money in the bank" by any means, so using that as a figure for how much money a university has is not a representative way to approach it. If the 30-50 million figure is correct, that is a significant penalty, and I imagine it's not the only one that would be imposed. My question is, can the NCAA impose fines?

 

[Stinger92860]

Sigh. The budget consists of many campuses. UP's budget is smaller. Besides that, the part of PSU's budget that is fungible is so much even smaller than that. The Research budget is huge, it's most of the total budget. companies and institutions are not handing over PSU money so that PSU can sustain its football program (by paying out). That money is untouchable. As is much of the endowment. only the fungible part of PSU's general budget and indeed its tuition can be touched. This comes out of academics.

Do I really need need to state the obvious about PSU's so-called football budget? Given Title 9, we know that all but a fraction of that profit is routed into other athletic teams. Which means, PSU should either shut down athletics at this point or otherwise charge students higher tuition to make the payment to the NCAA.

I'm simply suggesting that they are better off shutting down sports.

I never said that the profit was not routed to the other teams. I stated that PSU football is responsible for 50M in revenue plus donations (e.g. just like the money we received from Burton, etc.) The endowment is what it is, 1.8B. How much of that is Happy Valley? Can we agree on 60% or higher? They stand to lose a lot of money in civil suits. Also don't forget about the cost of litigation and all of the associated ediscovery costs. That alone could exceed 100M for 10+ lawsuits. Nothing is off-limits once judgement's are handed down. PSU will likely look to settle out of court. No way a public institution can add a surcharge for pedophile cost containment, that's silly to suggest.

 

[Stinger92860]

An endowment is not "money in the bank" by any means, so using that as a figure for how much money a university has is not a representative way to approach it. If the 30-50 million figure is correct, that is a significant penalty, and I imagine it's not the only one that would be imposed. My question is, can the NCAA impose fines?

30-60M is one year or less of Football net income and less than 1 year of revenue.

The Penn State football team is the third most profitable program in all of college sports. In the 2009-10 academic year, the Penn State football program​

produced $70.2 million in revenue and a profit of $50.4 million​

 

[upstater]

I never said that the profit was not routed to the other teams. I stated that PSU football is responsible for 50M in revenue plus donations (e.g. just like the money we received from Burton, etc.) The endowment is what it is, 1.8B. How much of that is Happy Valley? Can we agree on 60% or higher? They stand to lose a lot of money in civil suits. Also don't forget about the cost of litigation and all of the associated ediscovery costs. That alone could exceed 100M for 10+ lawsuits. Nothing is off-limits once judgement's are handed down. PSU will likely look to settle out of court. No way a public institution can add a surcharge for pedophile cost containment, that's silly to suggest.

They are absolutely liable for lawsuits. I'm just saying that the NCAA should not get involved with PSU's budget.

A public institution won't add a surcharge for the Sandusky fallout? Of course it will. It has no choice.

 

[upstater]

30-60M is one year or less of Football net income and less than 1 year of revenue.

The Penn State football team is the third most profitable program in all of college sports. In the 2009-10 academic year, the Penn State football program​

produced $70.2 million in revenue and a profit of $50.4 million​

I'm shaking my head here. We're saying the school is obligated by federal law to take that income and spend it elsewhere. Therefore, the NCAA payment comes from the academic side.

 

[nelsonmuntz]

30-60M is one year or less of Football net income and less than 1 year of revenue.

The Penn State football team is the third most profitable program in all of college sports. In the 2009-10 academic year, the Penn State football program​

produced $70.2 million in revenue and a profit of $50.4 million​

$30MM is one year of Big 10 TV revenue. It's basically telling Penn State that for one year, they have to be a MAC team, but the money will be back after that.

That penalty is a JOKE. If that is the "Hammer of Thor", why not just let Sandusky rape a kid on the BTN in primetime while wearing a Penn State football helmet and giving the camera the finger.

Anything other than the death penalty for Penn State puts the NCAA's relevance as an enforcement authority in jeopardy.

 

[CTMike]

Anything other than the death penalty for Penn State puts the NCAA's relevance as an enforcement authority in jeopardy.

Couldn't you have just left it at that?

 

[brasssbonanzaa]

You all are foolishly assuming that all the NCAA will do is impose a fine.

 

[Jimdish255]

Anything less then multiple years of 50% scholly reduction, including multiple years of bowl prohibition will be a relief for PSU and a disappointment to many, self included. And I expect a big deal (mostly talk and promises) for 1 year and then double-secret probation or some kind of financial payoff. I hope I'm wrong.

 

[Sean]

why not just let Sandusky rape a kid on the BTN in primetime while wearing a Penn State football helmet and giving the camera the finger.

My God - you really need attention, don't you? This line went WAAAAAY too far. Apparently this is still a sports issue, in your mind - because I just can't imagine how anyone could post that otherwise.

 

[Stinger92860]

Best you can do?

Sorry all I have are facts.

 

[Waquoit]

PSU should do the right thing and abolish football. Football has made the place a corrupt sewer. UVT and BU discontinued football and became stronger academically.

 

[Stinger92860]

They are absolutely liable for lawsuits. I'm just saying that the NCAA should not get involved with PSU's budget.

A public institution won't add a surcharge for the Sandusky fallout? Of course it will. It has no choice.

Damn!! We agree on item 1. No way on item 2.

 

[UConnDan97]

PSU should do the right thing and abolish football. Football has made the place a corrupt sewer. UVT and BU discontinued football and became stronger academically.

The problem is that football had never dominated the cultures of those two universities the way it did and does at Penn State....which unfortunately is why this all happened in the first place.

 

[Stinger92860]

$30MM is one year of Big 10 TV revenue. It's basically telling Penn State that for one year, they have to be a MAC team, but the money will be back after that.

That penalty is a JOKE. If that is the "Hammer of Thor", why not just let Sandusky rape a kid on the BTN in primetime while wearing a Penn State football helmet and giving the camera the finger.

Anything other than the death penalty for Penn State puts the NCAA's relevance as an enforcement authority in jeopardy.

Sorry guys but Nelson is right (wow). The visual he provides, while bizarre and not needed, would be a an accurate representation of the outcome. PSU wins, they they are slapping backs and smoking cigars in Happy Valley. Let's see what happens tomorrow.

 

[huskymedic]

Sorry all I have are facts.

I was really referring to your tact of moving towards personal attacks when you disagree with an opinion Rich.

I'm over it...

 

[upstater]

Damn!! We agree on item 1. No way on item 2.

Then where is the money going to come from? Hobbled football, take a 20% chunk away from it right off, B10 will take a cut, and they don't even make a profit now after paying for sports. It's coming from academics (i.e. the general budget, mainly tuition).

 

[upstater]

You know the really odd thing about this statement that the sanctions will be worse than the death penalty (without of course hitting them with the death penalty)? If it were true, PSU could choose not to comply with the NCAA. How? By giving themselves the death penalty!!!

 

[orangehomer]

You know the really odd thing about this statement that the sanctions will be worse than the death penalty (without of course hitting them with the death penalty)? If it were true, PSU could choose not to comply with the NCAA. How? By giving themselves the death penalty!!!

i think we are to the point where your credibility on this topic is approaching zero.

 

[upstater]

i think we are to the point where your credibility on this topic is approaching zero.

I think we are at the point where you should STFU! LOL.... Advice from a Bernie Fine defender. Precious.

Not only that, but you clearly don't have the brain power to understand what I wrote.

The sanctions will not be as debilitating as the death penalty--very obviously.

 

[brasssbonanzaa]

i think we are to the point where your credibility on this topic is approaching zero.

 

[orangehomer]

I think we are at the point where you should STFU! LOL.... Advice from a Bernie Fine defender. Precious.

Not only that, but you clearly don't have the brain power to understand what I wrote.

The sanctions will not be as debilitating as the death penalty--very obviously.

i'm saying you have zero credibility. you have been wrong in basically every way regarding penn state. you have been wrong in every way trying to compare bernie fine to sandusky. you don't have a leg to stand on. i will refrain from personal attacks, but you have not been right in any way.

 

[upstater]

i'm saying you have zero credibility. you have been wrong in basically every way regarding penn state. you have been wrong in every way trying to compare bernie fine to sandusky. you don't have a leg to stand on. i will refrain from personal attacks, but you have not been right in any way.

I didn't compare Fine to Sandusky. But since you mention it, they are both pedophiles. I only said a pedophile defender was commenting about my credibility. Which is funny. Beyond that, credibility really has nothing to do with posting on the internet. Lastly, I fail to see how anything I wrote was wrong. So, you're saying PSU should not get the death penalty? Interesting. But I guess not surprising, given your defense of Fine.