UW institutional support and debt refinancing....

[ttowncoug]

Times article on the subject.

Bottom line: Basically, UW is going to get around $20M annual in "institutional" support....we need to be more aggressive with this.

Highlights:

The athletic department paid $12.3 million in debt service in the 2022 fiscal year, per the financial report submitted to the NCAA.

But that figure dropped by approximately $3 million in 2023 after Washington’s board of regents approved a temporary restructuring plan

Washington’s campus support, which took the form of student fees allocated to athletics and direct transfers from the university, totaled $10.3 million last year — the fourth-lowest amount in the conference.

Oregon received no direct help from campus while UCLA received $2.1 million in support and Washington State received $6.8 million.

UW attempts to restructure Husky Stadium debt as Big Ten move looms

UW is "evaluating options" for refinancing Husky Stadium debt, a move that potentially could free up valuable cash as the Huskies transition into the Big Ten.

www.seattletimes.com

 

[Stretch 74]

Times article on the subject.

Bottom line: Basically, UW is going to get around $20M annual in "institutional" support....we need to be more aggressive with this.

Highlights:

The athletic department paid $12.3 million in debt service in the 2022 fiscal year, per the financial report submitted to the NCAA.

But that figure dropped by approximately $3 million in 2023 after Washington’s board of regents approved a temporary restructuring plan

Washington’s campus support, which took the form of student fees allocated to athletics and direct transfers from the university, totaled $10.3 million last year — the fourth-lowest amount in the conference.

Oregon received no direct help from campus while UCLA received $2.1 million in support and Washington State received $6.8 million.

UW attempts to restructure Husky Stadium debt as Big Ten move looms

UW is "evaluating options" for refinancing Husky Stadium debt, a move that potentially could free up valuable cash as the Huskies transition into the Big Ten.

www.seattletimes.com

Sorry for nitpicking like this, but you misspelled uw in the title of your post. You have heard the saying "With all due respect...."? Well, that institution deserves exactly ZERO respect from me.

 

[Coug90]

It’s cool, I’m sure Ohio state, Michigan, Oregon & penn state are all taking out second mortgages on their stadiums too.

 

[ttowncoug]

90- if you read the article, basically the university is coming to pay the debt off, and give the athletic department "sweetheart deal" terms, which means effectively subsidizing this debt.

My bigger point is that over the years we've heard, and they even changed state law to this, that WSU is taking on too much state/ or school subsidy for their athletics.

With what UW is doing, I would personally think WSU has some flexibly to do some creative things to ensure we don't "under fund" our athletics and put them in the toilet (which is my big concern).

I've always felt the university could absorb the tuition portion of athletics (think Title IX) and Athletics be on the hook for everything else.

We have to do something different moving forward.