Not to make light of the PSU situation, but...
- Thread starter AlleyAddict
- Start date
Um yes he will. They will take away from almost all the sports at PSU in order to pump the football program up again. It's giong to take a lot of money and private planes to get that program back. It's there money making program. They are going to be losing some serious cash in the next few years. Wrestling does not draw hardly any fans. It will lose money.
PSU has an endowment of ~$1.5 BILLION.... $60M isn't going to hurt them one bit. They will be fine and Cael's budget won't be touched.
You haven't accounted for any of the lawsuits yet.
Penn State will be paying out some gigantic amounts to Sandusky victims.
Revenue from football programs power all other programs. If they are fined $75 mil collectively (not including civil suits, postseason revenue, etc.) all programs at PSU will feel it.
Exactly. Not to mention the big wrestling donors at PSU. Cael will be fine, and continue to get whatever he wants.
D
DistrictCyclone
Guest
Read the post below, and then study the EADA report.
http://www.cyclonefanatic.com/forum...alties-against-penn-state-26.html#post2964834
Nothing is going to happen to Cael's program. PSU athletics had a $40 million PROFIT last year, and that doesn't even consider the $200+ million so far that has come in support of JoePa.
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You may be right, but more likely is that the purpose of the Endowment has little to do with PSU athletics. Football has funded or pulled in athletic donations well in excess of need for the Athletic Department to help fund the endowment over the years. Several major donors are ****** off and the reasons are all over the board...from revulsion about the scandal and coverup to being upset that Paterno's statue came down and that they won't fight the penalties.
When $60 million doesn't come in, they won't have the discretion to pull that $60 million out of the endowment. Plus Civil penalties will be coming and where do you think they will get them? I'm betting all sports, and especially the non-revenue sports face some belt-tightening.
Seems like everything else is getting touched at Penn State, why not wrestling?
..... too soon?
It's too early to tell. PSU has a long road to recovery. Every debt that you pay out of savings rather than revenue only multiplies over time. It's a given that PSUs revenue will take a major hit the next four years. All programs will be hit in some aspect.
So you believe that endowment money will be steered away from academics and toward athletcis to offset the financial penalty? If that happened I'm guessing there would be some very unhappy people.
I'm assuming Penn States athletic department is self sustaining and hasn't needed financial help from the University in the past.