The athletic department spends a startling $21 million a year on debt payments, $13.5 million of which comes from the school's stressed $99.5 million athletic budget and the rest from donations.
It's an ugly financial picture for one of the nation's strongest football brands, the kind of financial hole that SEC football giants aren't supposed to be in, brought about by expensive coaching buyouts and costly improvements to Neyland Stadium and other athletic facilities, just as the losing seasons set in.
For those who can read a balance sheet and income statement, the picture can't be more grim.
They are $200 million in debt and have 1/100th of that in cash reserves.
Recall that in 1999, UT coaches told then-prospect Santonio Beard that Alabama was going to be "out of business" in two years.
We're not only still in business, but we're sitting on cash reserves close to $120 million with little burdensome debt and steady growth in revenues. UT is standing on the abyss of bankruptcy.