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UT (University of Tennessee) $200 million in debt

Discussion in 'Sports and News' started by printit, Jan 28, 2013.

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  1. printit

    printit Member

    http://www.thebiglead.com/index.php/2013/01/28/tennessee-is-200-million-in-debt-spends-21-million-per-year-paying-it-off/

    I mean, holy shit. Does anyone know/remember of any college program getting that far behind?
     
    printit, Jan 28, 2013
    #1
  2. Mizzougrad96

    Mizzougrad96 Active Member

    Re: UT $200 million in debt

    That would be the last program I would think would have that problem.

    To be as profitable as that place is in football, men's basketball and women
     
    Mizzougrad96, Jan 28, 2013
    #2
  3. Baron Scicluna

    Baron Scicluna Well-Known Member

    Re: UT $200 million in debt

    About 10 percent of that debt is for coach buyouts. And a huge chunk went towards renovating the stadium to make more "premium" spaces.

    Looks like a school got too big for its britches.
     
    Baron Scicluna, Jan 28, 2013
    #3
  4. micropolitan guy

    micropolitan guy Well-Known Member

    Re: UT $200 million in debt

    Unless I missed it someplace, the story does not indicate how much of this $200 million is long-term bonded debt on the various facility improvements (sort of like my long-term morgage debt). If UT owes, say, $140 million on such projects, but has 30 years or so to pay that off, it's a much less dire scenario. And if that's the case, $21 million in annual debt service isn't that much.

    And if they quit firing coaches, in 3-4 years they'll have a windfall of sorts because all their failures will be off the books.

    Now, if their annual operational deficit is $20 million or so (which it's not), then they are in some serious mess.
     
    micropolitan guy, Jan 28, 2013
    #4
  5. Uncle.Ruckus

    Uncle.Ruckus Guest

    Re: UT $200 million in debt

    Pls amend headline. There are two UTs.
     
    Uncle.Ruckus, Jan 28, 2013
    #5
  6. KJIM

    KJIM Well-Known Member

    Re: UT $200 million in debt

    I thought it meant Utah.
     
    KJIM, Jan 28, 2013
    #6
  7. Gator

    Gator Well-Known Member

    Re: UT $200 million in debt

    University of Tampa?
     
    Gator, Jan 28, 2013
    #7
  8. LanceyHoward

    LanceyHoward Well-Known Member

    Re: UT $200 million in debt

    The article said that much of the debt is from stadium renovation. So it would be like a mortgage payment. But if you can't make your mortgage payment it is still a big problem. Doesn't this scholl sponser lots of sports. I can see a bunch of sports outside football and basketball getting dropped.
     
    LanceyHoward, Jan 28, 2013
    #8
  9. LongTimeListener

    LongTimeListener Well-Known Member

    Re: UT $200 million in debt

    There's really one UT and it isn't this one.
     
    LongTimeListener, Jan 28, 2013
    #9
  10. FileNotFound

    FileNotFound Well-Known Member

    Re: UT $200 million in debt

    Toledo?
     
    FileNotFound, Jan 28, 2013
    #10
  11. Armchair_QB

    Armchair_QB Well-Known Member

    Re: UT $200 million in debt

    Tennessee is in no danger of missing its mortgage payment.

    Micro did a pretty good job of explaining why this isn't as dire as it appears.
     
    Armchair_QB, Jan 28, 2013
    #11
  12. mpcincal

    mpcincal Well-Known Member

    Re: UT $200 million in debt

    Hell, I saw that thread title and thought the San Diego paper was about to go under.
     
    mpcincal, Jan 28, 2013
    #12
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