Papa Johns pulls funding from Louisville AD

[ZooCougar]

Papa John's International Inc. founder and CEO John Schnatter pulled funding from Papa John's Cardinal Stadium - Louisville - Louisville Business First

 

[CL82]

'Ville's yada yada about their finances were part of their pitch to the ACC. I am not particularly troubled that the creative financing they used to fund the stadium and arena deals has begun to unwind.

 

[billybud]

Just another big time donor throwing weight around....Louisville has moved into Texas' territory, LOL, just minus a few digits.

 

[Rocktheworld]

That awkward moment when a pizza moghul's last name is revealed to be "Schnatter".

 

[auggie22]

Papa John's pizza is nearly the worst invention of all mankind.

 

[Waquoit]

It was because he got his fee-fee's hurt when he went off half-cocked at a BoT meeting and everyone pretty much laughed him off. His authority must be respected!

 

[CL82]

It was because he got his fee-fee's hurt when he went off half-cocked at a BoT meeting and everyone pretty much laughed him off. His authority must be respected!

Actually, from the article it looks like the switch of the funds happened a year earlier.

 

[Waquoit]

Actually, from the article it looks like the switch of the funds happened a year earlier.

Or not

 

[huskyrob1]

Actually, from the article it looks like the switch of the funds happened a year earlier.

It did because they needed to bribe some professors to give 20 passing grades to the football team.

 

[Alum86]

Better ingredients, better Hookers, Papa John's.

 

[huskymedic]

On an related note (pun intended):

 

[huskymedic]

 

[huskymedic]

Point taken:

KelTheTweeter‏ @bluekel 4h 4 hours ago
Replying to @JHB4UK @DanWolken
The number of scandals under the Jurich reign (intentional word choice) is staggering. Yet he gets a free pass on it all.

 

[Seaa Blue]

CRAWFORD | Louisville Foundation audit reveals hidden spending on athletic facilities, salaries

...is a must read. Here's the summary:

Instead of a self-sustaining athletic department, the picture of athletics that emerges in this audit is of a department that leaned heavily on the university’s fund-raising arm for some salary and facilities needs so that it could continue to spend more each year on its own operations, even as the university itself struggled to cope with shrinking state appropriations.

Now, I know the defense. Athletics is an investment. It’s a powerful tool when it comes to raising money, more powerful still in a market for college sports like Louisville, Ky. At least, convoluted as the deal may have been, the university wound up with a soccer stadium in this case, and a golf course, and didn’t simply money down a foolish black hole investing in start-ups with no hope of success (there’s plenty of such activity elsewhere in the audit) [interesting]. And yes, the foundation paid a lot of money to Mark Jurich. He also has raised a lot of money for athletics, and has been the lead fund-raiser for the Thornton's Athletic Center ($18.5 million) and the new football stadium expansion ($63 million).

Louisville’s athletic department has delivered the school membership in the Atlantic Coast Conference, a Heisman Trophy winner and a slew of positive publicity, from HBO to ESPN.

Still, that doesn’t justify liquidating endowment funds. [apparently done without the endowment board knowing the details]

It also has embarrassed the university with a sex-for-recruits scandal in men’s basketball and using stolen game plan information in football. If the university is facing declining enrollments next school year, image problems from athletics have to shoulder a percentage of that responsibility. [very insightful comment]

College athletics is an arms race, with no way to get off the gas. The athletic department at U of L has risen more meteorically than most. Look at the facilities. Look at the coaches’ salaries. In the wake of this audit, we now see part of the reason why that has been possible. It hasn’t been working alone. [ruh roh]

Friday at noon, Louisville will play Kentucky in an NCAA Baseball Super Regional on campus. The Cardinals will take the field with one of the five highest paid coaches in college baseball. The national player of the year will be playing first base.

It’s all fun and games until somebody shows up with a bill. For the U of L athletic association, life as it has been appears to be about to change. Using the foundation as a financial safety net no longer is going to come without consequence, nor will the department’s facility spending go forward with only minimal oversight from university leadership.

If that’s the only fallout the athletic department sees from this, it should count itself fortunate.

 

[huskymedic]

Jack Pilgrim‏ @JackPilgrimKSR 20h 20 hours ago
Today we learned UL paid the ADs son $800k for nothing, $300k to a UL radio station to promote the program, and erased evidence before audit

 

[auggie22]

Jack Pilgrim‏ @JackPilgrimKSR 20h 20 hours ago
Today we learned UL paid the ADs son $800k for nothing, $300k to a UL radio station to promote the program, and erased evidence before audit

Wow

 

[buddy]

It doesn't matter. He worked his butt off to get Louisville to the P5 where it will not be thrown out. The former UConn AD left UConn sinking in quick sand and moved on to greener pastures.

 

[FDNY99]

It doesn't matter. He worked his butt off to get Louisville to the P5 where it will not be thrown out. The former UConn AD left UConn sinking in quick sand and moved on to greener pastures.

You mean the guy at Hofstra? I wouldn't call that greener pastures. Why don't you go to a FSU board and post there.

 

[buddy]

You mean the guy at Hofstra? I wouldn't call that greener pastures. Why don't you go to a FSU board and post there.

That wasn't the one I meant and you know it. I also know that you have been a defender of that individual. We have been down this road before. I hate FSU. I couldn't grace them with my presence. But that Mr. Jurich worked his butt off to get Louisville to the ACC is indisputable. I have too much respect for FDNY to argue with you.

 

[don356]

http://www.courier-journal.com/stor...lle-foundation-mafia-not-good-guys/384240001/

Classic stuff.

 

[UCFBfan]

Of course the fact that someone like you has to come out and make this statement, means exactly the opposite. I can guarantee you that even though Donald Trump might not be under investigation by the FBI, the University of Louisville, it's athletic Dept, and it's foundation, will be by Monday, and if the noxious odorious trail leads to individuals in the ACC hierarchy that knew what was going on at Louisville, or even if there is the possibility of that perception, Louisville would be thrown out of the ACC faster than you can say John Swofford. Even the guilt by association might be enough.

Please......how many horrible things have we seen come from these schools with NOTHING being done to them?

1) Penn State had a big penalty slapped on them only to be repealed a few years later. B1G status? Still intact.
2) UNC literally made up courses and grades. Zero punishment. ACC status? Still intact.
3) Baylor has some of the worst sexual abuse crimes committed. Big 12 status? Still intact.
4) Louisville's issues.....no consequences likely but even there are...... ACC status? Will still be intact.

I'm sure others can name more examples.

Bottom line is, once your in the club, you aren't getting kicked out. I doubt you could even try to get kicked out. Just look at what transpired at those 4 schools listed above. All are ridiculous and yet there they are, raking in millions.

Honestly, it doesn't matter what you do once you get into the club. Kinda wish UConn would do whatever it takes instead of doing it by the book. (Not the terrible acts that PSU or Baylor committed though).

 

[buddy]

Of course the fact that someone like you has to come out and make this statement, means exactly the opposite. I can guarantee you that even though Donald Trump might not be under investigation by the FBI, the University of Louisville, it's athletic Dept, and it's foundation, will be by Monday, and if the noxious odorious trail leads to individuals in the ACC hierarchy that knew what was going on at Louisville, or even if there is the possibility of that perception, Louisville would be thrown out of the ACC faster than you can say John Swofford. Even the guilt by association might be enough.

They are not getting thrown out. They are the pride and joy of the ACC. They have everything needed for a successful Dept of Athletics and that is all that matters to the ACC. It is interesting that the former AD at UConn, now at a Big Ten school, has not made a peep since his departure. No lobbying for UConn anymore not even to the Big 12 during the last fiasco.

 

[huskyrob1]

Please.how many horrible things have we seen come from these schools with NOTHING being done to them?

1) Penn State had a big penalty slapped on them only to be repealed a few years later. B1G status? Still intact.
2) UNC literally made up courses and grades. Zero punishment. ACC status? Still intact.
3) Baylor has some of the worst sexual abuse crimes committed. Big 12 status? Still intact.
4) Louisville's issues.....no consequences likely but even there are. ACC status? Will still be intact.

I'm sure others can name more examples.

Bottom line is, once your in the club, you aren't getting kicked out. I doubt you could even try to get kicked out. Just look at what transpired at those 4 schools listed above. All are ridiculous and yet there they are, raking in millions.

Honestly, it doesn't matter what you do once you get into the club. Kinda wish UConn would do whatever it takes instead of doing it by the book. (Not the terrible acts that PSU or Baylor committed though).

Wanna bet? What happened at UNC, Penn State, and Baylor was of course bad and was big time fodder for the NCAA to look into, but when money is involved, misuse of funds, almost $100 million dollars paid out to like 30 people in the AD and the foundation, outright raiding the schools endowment money, disbanding the board because some brave souls asked questions.... that's something that will have a paper trail, and is something the FBI can sink it's teeth into. There's a big difference to be being investigated by the NCAA and the FBI. If people start hiring attorneys and pleading the 5th, Swofford would recommend dropping Louisville like a hot potato, and I would bet several schools would vote yes just to contain the damage.

 

[huskyrob1]

They are not getting thrown out. They are the pride and joy of the ACC. They have everything needed for a successful Dept of Athletics and that is all that matters to the ACC. It is interesting that the former AD at UConn, now at a Big Ten school, has not made a peep since his departure. No lobbying for UConn anymore not even to the Big 12 during the last fiasco.

Yeah nice try, I do not think Warde misappropriated any money from Uconn's endowment fund right under Herbst's nose, or Gov Malloy secretly cohersed the board of regents to give Dave Benedict a 15 million dollar bonus. Lol

 

[buddy]

I never mentioned a name and never about misappropriation of funds. Just failure to pursue a vital quest to its successful conclusion. Very costly error at that time.