WSU and the other schools could each receive up to $83,000,000 for athletics?
What would be the best and most impactful way to spend it?
What would be the best and most impactful way to spend it?
When will the Pac-12's bailout money for Covid be distributed?
- Thread starter PeteTheChop
- Start date
Build more facilities. Or pay 4 star kids.
When the tv money came OSU paid bills while most others built. Look what happened. If WSU gets a bailout like that and pays off debt....
Good to hear, Biggs.
Would love to see Schultz-Chun (once that bailout cash is in their hands) get football's Indoor Practice Facility finished before next season without cutting a single corner.
Schultz keeps talking about the IPF as if it were his personal pet project, so that's encouraging.
Maybe even get it built and lock in a naming rights sponsor for additional dollars.
We went what, 10 years without a bowl? Might as well have paid kids and won a title. If you're gonna go 10 years without a bowl at least cheat and win some titles. That way you had a run to look back on.
When Jim Sterk was AD, WSU got into the business of paying recruits parents - JT Levenseller's dad and Nick Graham's dad were both paid several hundred thousand dollars.
I unfortunately do not share the sunny view of WSU's leadership as you do.
However to answer your hypothetical: build and pay down debt; both.
A significant chunk will (and should) go to debt service. Otherwise the academic and operational parts of WSU - including the branch campuses that get no measurable benefit from athletics - will end up getting cut to pay the AD’s bills.
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Pete, where did you hear about a bailout for the schools? Is that something for the feds or from a PAC 12 slush fund. And I know you said "up to" $83,000,000, but how was that figure arrived at? Just think how much that could help out WSU if it came anything close to being that much. Of course, all the other schools would be getting that also, so we stay far behind them in revenue, but it would be an incredible windfall for us.
Thanks
The conference had some kind of loan package available over the summer. My recollection is that it was not a great deal.
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Thanks Gibb. If all it was was a loan, not much value in that. Seems like it could give some value if we could convert higher interest rate loans to a much lower or zero interest rate loan. Maybe they would need to use some of this money to add to existing debt just to keep operating, but I don't know where the department is will all the money stuff. I do know they are already deep in debt though.
I think that would be complicated anyway - pretty sure accepting a loan in that context would require action by the legislature. The university is limited on how it can incur debt that would be paid by taxpayer funds. They can take on debt to be paid back to taxpayers, but not to pseudo-private entities like the conference.
Just adding to the conversation- I suspect the high percentage (IIRC 80+ percent) of the season ticket holders electing to let the university keep the money is what the AD is currently floating on. Chun and the coaches taking voluntarily pay reductions is significant too.
Add $10m for the inland NW YMCA as well. Time for Chun to get creative.
Inland Northwest YMCA and Goodwill each receive $10 million from philanthropist MacKenzie Scott
Mackenzie Scott, a writer, philanthropist and ex-wife to Amazon founder Jeff Bezos has gifted two Inland Northwest non-profits $20 million to continue serving marginalized and under-served community members. Over the last four months she has given away more than $4 million and has pledged to...
www.spokesman.com
her gifts were aimed at “underserved” populations. WSU has little chance of qualifying. Especially the athletic department.Add $10m for the inland NW YMCA as well. Time for Chun to get creative.
Inland Northwest YMCA and Goodwill each receive $10 million from philanthropist MacKenzie Scott
Mackenzie Scott, a writer, philanthropist and ex-wife to Amazon founder Jeff Bezos has gifted two Inland Northwest non-profits $20 million to continue serving marginalized and under-served community members. Over the last four months she has given away more than $4 million and has pledged to...
Maybe WSU Tri-Cities could, based on their Hispanic population, but I suspect being part of a major state-funded university system would work against them.
But, she gave $15 mil to Walla Walla Community College, so who knows.
