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  1. #14
    BamaNation First Team CrimsonPride's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by RollTideMang View Post
    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.
    That is a good question. I hear on local radio that the academic side is going to give the UT AD something near $18 million over the next 5-6 years to try to make up some of their deficit. In order to do this, they are cutting $5-6 million in academic scholarships. There will most likely be tuition increases as well.
    "There's lots of Tigers and Bears, but there's only one Crimson Tide." -Mal Moore
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    "Arguing with a fool proves there are two." - Doris M. Smith

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  3. #15
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    Re: Delicious Irony: Tennessee is almost "out of business."

    We should buy them out... a hostile takeover. Then liquidate the assets.

  4. #16
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by TIDE-HSV View Post
    Pulls for the Tide but for the Lady Vols...
    Good for your daughter! The only thing to like about UT is Pat Summit. Class act. I don't even know who her replacement is. God bless her in her health struggles.

  5. #17
    BamaNation All-SEC
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    Re: Delicious Irony: Tennessee is almost "out of business."

    I am up here this week and having a little time to listen to sports radio and they are laughing at themselves to keep from jumping off a bridge. Some talk show was saying something along the lines that the AD was paying Dooley around $100,000.00 a month to NOT work. I do not know if that is true but if it is, then good for Dooley!

  6. #18
    BamaNation Hall of Fame TideMan09's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by crimsonaudio View Post
    Yes!
    The most beautiful & ironic part of it..They "Processed" themselves..Same goes for The Barners..Life is good..

  7. #19
    BamaNation All-American CrimsonJag's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by TIDE-HSV View Post
    Pulls for the Tide but for the Lady Vols...
    In other words, she pulls for winners.
    "We just gotta stop that lil' inside trap." - Joe Kines

  8. #20
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Another important thing that hasn't gotten mentioned:


    Tennessee girls are too pretty to not be on TV every Saturday!!!!

  9. #21
    BamaNation Hall of Fame deliveryman35's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    I knew our program was flush with cash, but $120 million IN RESERVES? I want to believe that, but I'd like to see that verified.
    "Football is a hard game. These spread coaches forget that. Until good defenses remind them." Gene Stallings

  10. #22
    BamaNation Hall of Fame Crimson1967's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by GreatMarch View Post
    I am up here this week and having a little time to listen to sports radio and they are laughing at themselves to keep from jumping off a bridge. Some talk show was saying something along the lines that the AD was paying Dooley around $100,000.00 a month to NOT work. I do not know if that is true but if it is, then good for Dooley!
    They'll save some money since his salary from the Cowboys is deducted from the buyout, assuming his deal was the same as Cheesy's.

  11. #23
    BamaNation All-American
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Quote Originally Posted by CrimsonPride View Post
    That is a good question. I hear on local radio that the academic side is going to give the UT AD something near $18 million over the next 5-6 years to try to make up some of their deficit. In order to do this, they are cutting $5-6 million in academic scholarships. There will most likely be tuition increases as well.
    I'm not a lawyer, but I deal with a lot of bankruptcy issues in my job. I also slept at a Holiday Inn Express last night : - )

    Given a layman's understanding, I think the answer to your question would depend on a lot of things.

    First, is the UT Athletic Department legally separate from the University? I'm guessing so. But if the University guarantees any of the debt, that might not matter. Would the fact that the University's Board of Trustees approved the contract that led to the debt figure in? I don't know, but I'd bet a lot of money that this would be a point of contention.

    Who actually owes the money? The Athletic Department? The University? The UT version of the Crimson Tide Foundation? Sounds like form over substance, I know. But trust me, it makes a HUGE difference.

    Can the legal obligor on the debt file without dragging a much larger institution (i.e., the University) in as well?

    What Chapter of the code applies? Chapter 11 is what most corporations file under for reorganization. But I don't know if it would apply to the obligor. Chapter 9 applies to municipalities. Does it apply to bigger governmental entities (like states)?

    I'm unaware of any bankruptcy filings brought on by financial difficulties in the Athletic Department of a major public University. My guess is that there would be all sorts of precedents set, and that nobody really knows how all that would fall out.
    Undefeated World Champion Threadkiller

  12. #24
    BamaNation Hall of Fame selmaborntidefan's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Well given what they pulled on us, I honestly don't care if the place burns down. Other universities will offer those majors. Besides, they could have kept Dooley.
    :13

  13. #25
    BamaNation Hall of Fame Redwood Forrest's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    This explains the Dooley and now Butch Jones hiring.
    An atheist is a man who has no invisible means of support. John Buchan

  14. #26
    BamaNation Second Team Bamabww's Avatar
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    Re: Delicious Irony: Tennessee is almost "out of business."

    Happy days are here again.
    Bamabww

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