$1.9 million reserve

#1
T

the6chambers

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#1
Can someone flesh this out? Hart said it was "unheard of in the SEC" - what's the target number? What has it been in the past?
 
#4
#4
He said it was a concern, not a detriment. He has obviously been talking to boosters and Cheek about getting more money.
 
#5
#5
how did the UT ath dept blow so much money to end up with this small reserve??
 
#7
#7
Ouch. There are two types of funds: operational and reserve. Reserve funds are tucked away over the long haul for captital projects (e.g. rebuilding Gibbs Hall). If the athletic dept's reserve funds are only $1.9K (which I frankly do not believe), we're in serious, serious trouble.

I agree with the Dooley firing. Hope Hart has Gruden ready to roll in the wings.
 
#8
#8
sounded like the "big money" men are ready to pony up some cash. hart said the "support" is there for the new coach when refering to the $$ situation.

thats how i took it anyway
 
#12
#12
Most SEC schools have reserves between 50-100 million, according to Hart. With all the coaching changes we have had, plus lower income due to not being that great, it has taken a toll. There have been a lot of factors to get us that low.
 
#13
#13
Anyone else have a hard time believing that the rest of the SEC has a $50-$100 million reserve? I just don't buy that. Granted when Hart said the rest of the SEC I'm guess he was referring to a few schools, but my skepticism still stands.
 
#18
#18
VolsRule said:
how did the UT ath dept blow so much money to end up with this small reserve??
Click to expand...

Seems like no one predicted that UT football would be down in the dumps. Probably spending a lot of money on facilities,etc. thinking we will never hit rock bottom.
 
#20
#20
I believe that I read Alabama has ~$100M+ in reserve. I believe the difference is how the money for the AD is structured. TN apparently gives a large portion to the academic side of the house where some of the other SEC schools don't. However, I don't think that accounts for the reason we are in the financial shape we are in (cough, Hamilton, cough).
 
#23
#23
Dont forget that they just built a new training facility. I am sure that took a huge lump of the reserve money. Get the right coach here and your reserve funds will be right back where they should be. Look at AL just as example because they went through pretty much the same thing we are. They went through what 4 coaches in 6 years or something. Then they hired Saban and immediately went up 30K more tickets sold for every home game. The right coaching hire can create the buzz and get the fans back interested in watching the home games again.
 
#24
#24
the6chambers said:
Can someone flesh this out? Hart said it was "unheard of in the SEC" - what's the target number? What has it been in the past?
Click to expand...

SEC schools typically operate with 50 + million in reserve. Hamilton spent all of ours! If you heard in the comments from Hart the undertone was the football complex and cost. Boosters will pony up with the new coach and it's extremely important that we start selling out the stadium each week starting next week. The Troy game cost UT more than $3 million alone!

:whistling:

tennesseeduke
 
#25
#25
Penn State Athletics has $24.6 million, Clemson has $27.8 million, and the University of South Carolina has $190. million, most of which is designated for specific expenditures. Many schools have less than $1 million.
 
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