UT (University of Tennessee) $200 million in debt

Re: UT $200 million in debt

Just the drop in football attendance represents about $6 million a year in tickets and concessions.

Sorry Texas people, the real UT was educating people in Knoxville 90 years before Austin had a school and 40 years before you had a state.

 

Re: UT $200 million in debt

And hell.. we awl know the only place that matters is the $EC,, Texus who?

 

I used to think Dave Hart was a smart guy. Hiring Derek Dooley in the first place and this much debt proves otherwise.

 

What happens in 10 years when the stadium's outdated and the team wants to move to nicer facilities but the mortgage remains?

This is the bastardization of higher education here in the US, when was the last time UT actually spent $200M to EDUCATE their students?

 

Other than the University of Minnesota, which built a new on-campus stadium after spending 20-plus years in the Metrodome, and Cal and Washington, who completely redid existing stadiums that were essentially more than 80 years old and falling part, when is the last time a college team moved to a new stadium because the old one was "outdated?" This ain't the MLB, NFL or the NBA. Tennessee will probably be in Neyland Stadium for the next 100 years.

Tennessee is not spending $200 million in one single year on athletics. And I'd expect Tennessee's annual non-athletic budget far surpasses $200 million, and it's debt service on dorms, academic buildings, etc., surpasses $21 million.

 

Louisville, SMU, Central Florida, and FAU come to mind when you mention outdated stadiums.

 

My scenario was more TIC. But the substance of my rant is still there; these $$ spent on athletic facilities is a shame when compared to the academic spending. These universities are not supposed to make a profit; they are supposed to teach.

 

The AD will threaten to move the team to Nashville?

 

That could happen... Nashville doesn't have a pro football team now.

 

Little UT is 1980s Russia, spending way beyond its means to keep up appearances as a superpower. Works great, right up to the moment it doesn't.

 

Do you know how many other schools in the SEC are in similar situations?

 

Auburn isn't far behind, and is about to run into one of UT's big problems - having the two biggest rivalry games on the same home/away cycle. Florida's seen an attendance dip lately and better be careful. Miss. State is in the middle of stadium expansion and could easily get hurt if football drops back below .500 regularly. I don't know Mizzou's situation, but I could see them getting in over their heads trying to compete.