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  1. #1
    BamaNation Hall of Fame GulfCoastTider's Avatar
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    Cool Delicious Irony: Tennessee is almost "out of business."

    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.

    Full story.

    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.

    Processed.

    “Lamar Thomas has got it, he's on his way down the sidelines... George Teague runs him down! He took the ball away!!! HE'S GOT THE BALL!!!"

    Thread deleted by SavannahDare
    Reason: Dude! Coach Saban would sooner die than tweet.

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  3. #2

    Re: Delicious Irony: Tennessee is almost "out of business."

    Sounds like we need to bail them out... Okay I couldn't even keep a straight face while I typed that...lol

    Sucks for them, I'm sure they'll just tax me more to help pay for it...

  4. #3

    Re: Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by GulfCoastTider View Post
    Processed.
    Yes!
    DISCLAIMER: I hereby reserve the right to discuss any game on the Alabama schedule I wish, at any time during the season, as I am not a part of the Crimson Tide football program. I am simply a fan who has no impact outside of the money I provide the athletic department via ticket and memorabilia purchases and the energy I can provide when I attend the games. ©2009-2014, crimsonaudio

    Lurch Backwater!

  5. #4
    BamaNation All-American Florida Tom's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    First it could not happen to a more deserving bunch, I do feel fot Hart but he chose to go there.

    Now the BIG MOUTHS like Tenn Stud, Payton Manning, & the jerk that owns the Browns along with every player like T Martin that got paid all need to chip in. I don't see how you can have the attendance they do have, although down still good & be in trouble.

    Right now all I feel is JOY!

  6. #5
    BamaNation First Team Lost in TN's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Since my daughter is a freshman at UT (full ride academic scholly) I hope they do not raise student fees to make up for the poor hiring decisions. I would much rather spend my money on Tide Pride tickets.

  7. #6
    Senior Administrator TIDE-HSV's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by Lost in TN View Post
    Since my daughter is a freshman at UT (full ride academic scholly) I hope they do not raise student fees to make up for the poor hiring decisions. I would much rather spend my money on Tide Pride tickets.
    I sent a daughter to two degrees at UT because her major wasn't available in the state of Alabama, and what she's doing today is a direct result of those degrees. Sometimes, academics have to trump emotions and loyalty...
    "The cure for boredom is curiosity. There is no cure for curiosity. - Ellen Parr"

    'If today were the last day of my life, would I want to do what I am about to do today?' - Steve Jobs

    “I would rather live my life as if there is a god and die to find out there isn't, than live my life as if there isn't and die to find out there is.” Albert Camus

  8. #7
    BamaNation All-American Catfish's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by TIDE-HSV View Post
    I sent a daughter to two degrees at UT because her major wasn't available in the state of Alabama, and what she's doing today is a direct result of those degrees. Sometimes, academics have to trump emotions and loyalty...
    Yeah, but please tell us she didn't cross over to the dark orange side.
    "...Defense shut 'em down! Offense make plays! Hey, let's go be champions, boys!"- Greg McElroy

  9. #8
    BamaNation All-American
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by GulfCoastTider View Post
    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.

    Full story.

    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.

    Processed.

    Don't mess with Karma. She sometimes takes her own sweet time getting around to it, but when she takes her vengeance, it isn't pretty....Unless, of course, you're the wronged party, in which case it's glorious.

    It's glorious.
    Undefeated World Champion Threadkiller

  10. #9
    BamaNation All-SEC Mystical's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Part of their problem is their cupcake scheduling. To fill that size stadium, better stop scheduling the Troys of the world and, get some teams their fans actually want to watch. Hard to hate them they are just so pathetic.

  11. #10
    BamaNation All-SEC jabcmb's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Phat Phil can fix everything. He is just waiting for someone to come beg him.

  12. #11
    BamaNation All-American RollTideMang's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    So what happens in a case where the AD goes bankrupt? Do they shut down athletics until they can get back into the green, raise tuition an ungodly amount, or what? Serious question.
    Last edited by RollTideMang; January 28th, 2013 at 06:20 PM.

  13. #12
    Senior Administrator TIDE-HSV's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by Catfish View Post
    Yeah, but please tell us she didn't cross over to the dark orange side.
    Pulls for the Tide but for the Lady Vols...
    "The cure for boredom is curiosity. There is no cure for curiosity. - Ellen Parr"

    'If today were the last day of my life, would I want to do what I am about to do today?' - Steve Jobs

    “I would rather live my life as if there is a god and die to find out there isn't, than live my life as if there isn't and die to find out there is.” Albert Camus

  14. #13
    BamaNation First Team CrimsonPride's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by TIDE-HSV View Post
    I sent a daughter to two degrees at UT because her major wasn't available in the state of Alabama, and what she's doing today is a direct result of those degrees. Sometimes, academics have to trump emotions and loyalty...
    I agree. Thanks goodness it worked for us in reverse: major at UA that is not offered at any Tennessee college. My son gets to major in what he wants and go to the college that he loves.
    "There's lots of Tigers and Bears, but there's only one Crimson Tide." -Mal Moore
    "It's not the will to win, but the will to prepare to win that makes the difference." - Paul (Bear) Bryant
    "Arguing with a fool proves there are two." - Doris M. Smith

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