The Domino effect no College Football upon all college sports

[jsloanjr]

If college football games are cancelled or seasons shortened, all college sports will be in limbo because of the revenue they bring to the schools. As a Penn State grad, if PSU loses 110,000 fans plus another 100,000 plus folks on game days on 6 or 7 Saturdays this fall, all sports will be cut and coaching staffs cut or eliminated entirely. I am hoping for the best and preparing for the worst. AD's are scrambling for back up plans and so are Presidents.


UCONN is no different, all major College sports paid most of the coaches huge $$$ for past success.....Where does the money come from if sports are cancelled? Plus, State College, Pa becomes the 3rd largest city in PA on game day weekends. How about the hotels, restaurants and bars...

 

[Checkmate 2.0]

PSU has a 3.4 billion dollar endowment..... they will not be broke

 

[bluedevil]

It won't be pretty esp. for the minor sports..like the sailing team..the ping pong team might have to buy their own balls...

 

[Zanzman]

So he picked Penn st not all colleges have a large endowment

 

[Kaizen]

College sports are just small business compared to NBA, NFL and MLB.
Cannot image if this situation continues 2-3 more months.

Real unemployment in the United States has likely hit 14.7%, the highest level since 1940.

Real unemployment in the United States has hit 14.7%, the highest level since 1940

Over a three week stretch, 16.8 million Americans have filed for unemployment.

fortune.com

 

[Alydar]

I don't see how losing their football season would hurt UConn. I'll wager that football is a money loser in Storrs/E Hartford. UConn would likely save $$$.

 

[hoopsfan22]

So he picked Penn st not all colleges have a large endowment

Yeah Penn St is a bad example. It is one of the largest universities in the country. Not many schools are in that same club.

 

[Checkmate 2.0]

Yeah Penn St is a bad example. It is one of the largest universities in the country. Not many schools are in that same club.

actually there are plenty of schools with billion-dollar endowments. And PSU is now over $4 billion.

Private
List of colleges and universities in the United States by endowment - Wikipedia

Public

List of colleges and universities in the United States by endowment - Wikipedia

en.wikipedia.org

 

[jsloanjr]

Watch for layoffs, cutbacks and eliminating charter flights.....I am hoping for the best...

 

[CL82]

PSU has a 3.4 billion dollar endowment..... they will not be broke

... and Big 10 media money. I suspect that they will muddle through somehow.

 

[triaddukefan]

I heard a report that U of Minn athletic department estimated they would lose between 10-75 million dollars this year if the football season was cancelled. Thats a big gap, but even at the lowest.. 10 million is a lot to lose.

PSU has a 3.4 billion dollar endowment..... they will not be broke

Not that they are in any danger of being broke, but isn't is that the endowment for the entire Penn State University System... not just the University Park campus?

 

[Checkmate 2.0]

I heard a report that U of Minn athletic department estimated they would lose between 10-75 million dollars this year if the football season was cancelled. Thats a big gap, but even at the lowest.. 10 million is a lot to lose.



Not that they are in any danger of being broke, but isn't is that the endowment for the entire Penn State University System... not just the University Park campus?

Yes, however, it has been updated to $4.5 billion... I would imagine almost 90% goes to state college

 

[Cornell Lt]

The thing to remember about endowments is that most are structured and controlled by by-laws restricting the usage to very specific purposes. Cornell University is forbidden from utilizing endowment money for operating expenses. Endowment money is used for financial aid purposes and that's about it.

 

[Steelerone]

Is it such a sad thing that we are verging away from becoming a "Rollerball" society?

 

[EdSaid]

If college football games are cancelled or seasons shortened, all college sports will be in limbo because of the revenue they bring to the schools. As a Penn State grad, if PSU loses 110,000 fans plus another 100,000 plus folks on game days on 6 or 7 Saturdays this fall, all sports will be cut and coaching staffs cut or eliminated entirely. I am hoping for the best and preparing for the worst. AD's are scrambling for back up plans and so are Presidents.


UCONN is no different, all major College sports paid most of the coaches huge $$$ for past success.....Where does the money come from if sports are cancelled? Plus, State College, Pa becomes the 3rd largest city in PA on game day weekends. How about the hotels, restaurants and bars...

 

[EdSaid]

Ticket sales account for a lot of $, but so doesn't TV. Just for instance the NCAA Men's Basketball Tournament (March Madness) Television Revenue accounts for 75% of the NCAA's operating revenue. This in essence pays the salaries of the NCAA personnel and all the championship tournaments for lesser sports (all Div 2 & 3 post season tournaments). This massive loss of revenue will effect every NCAA sport moving forward. Everyone is scrambling, but no one has an answer/solution. 2020-21 could be a very limited/bumpy road.

 

[jsloanjr]

Think about all the small business folks who might not even be in business by Football season. [ ]
God bless everybody to stay strong and stay healthy.

 

[01Neaggrad02]

Will all the injuries, medical conditions, and everything else around football I am surprised it is still allowed to be a sport without the players being wrapped in giant bubbles....

 

[hoopsfan22]

Watch for layoffs, cutbacks and eliminating charter flights.....I am hoping for the best...

Does this mean the team would have to drive itself to games and no more fancy plane rides?

 

[CL82]

Ticket sales account for a lot of $, but so doesn't TV. Just for instance the NCAA Men's Basketball Tournament (March Madness) Television Revenue accounts for 75% of the NCAA's operating revenue. This in essence pays the salaries of the NCAA personnel and all the championship tournaments for lesser sports (all Div 2 & 3 post season tournaments). This massive loss of revenue will effect every NCAA sport moving forward. Everyone is scrambling, but no one has an answer/solution. 2020-21 could be a very limited/bumpy road.

The NCAA received an insurance payment for the lost revenue on the tourney. It was a substantial sum though likely less than the full amount of potential earnings.

 

[EdSaid]

The NCAA received an insurance payment for the lost revenue on the tourney. It was a substantial sum though likely less than the full amount of potential earnings.

If there was insurance on the NCAA Tournament, I would like to know more about that. Knowing the NCAA, details will never be made public. The NCAA had to shell out over $300 million the last 3-4 years for a couple of class action law suits mainly pertaining to concussions and other medical issues. I believe the NCAA took in $860 million last year from the men's tournament. They didn't have to pay out for this years winter and spring tournaments in all sports, so that should soften the blow somewhat. As a retired college administrator I try to keep up on such things. The NCAA News for one is much less informative than it used to be. Good stuff nevertheless.

 

[Cedar]

Poll: Sports fans want coronavirus vaccine before attending live games again

"The Seton Hall Sports Poll at the Stillman School of Business revealed that when participants were asked what they would do if sports leagues resumed live games before a vaccine was made, 72 percent said they wouldn't attend, 12 percent would attend if social distancing measures were maintained and 13 percent said they would feel just as safe attending as they did in the past.

The number of people who wouldn't attend drops to 61 percent of all people when the group is consolidated to just people who identify as sports fans, per the poll. The study also noted that 74 percent of Americans don't expect sports to return at all this year."

 

[Plebe]

This article in SI really lays out the uncertainties and scenarios hovering over all of college athletics.

Eye-opening and sobering. It is not a pretty picture.

'We’re All Effed. There’s No Other Way to Look at This'

SI asked two dozen administrators and insiders: What now for college football—and college sports as a whole?

www.si.com

"A total or partial loss of [football] could send some athletic departments so deep into the red that one administrator predicted even Power 5 football programs shuttering. But the absence of football is only one piece. The long-term and severe financial impacts from an economic recession could not only reform forever how departments operate but also could spell sweeping changes to the landscape of college athletics—from the formation of a super division to a new wave of conference realignment, from money-saving travel modifications to football scheduling alterations, from discontinued sports to thousands of lost jobs."​

 

[jsloanjr]

Just heard back from a fellow Penn Stater and he said PSU would lose 7 to 9 million a home game day at Penn State...The economic hit to State College and surrounding towns will dwarf that number...…..HUGE LOSS...

 

[j66kicker]

Just heard back from a fellow Penn Stater and he said PSU would lose 7 to 9 million a home game day at Penn State...The economic hit to State College and surrounding towns will dwarf that number...…..HUGE LOSS...

Yeah I heard on an ESPN talk show this morning that the Ohio State AD (who is a recent hero in some circles for pointing out that playing without spectators makes no sense - if it's dangerous for the spectators, then why isn't it dangerous for the athletes?) said colleges' football revenue is heavily weighted to ticket sales & concessions. He said missing one home game at the Horseshoe would cost OSU $5-7 million.