UT-Austin raised $876m ($529m in CASH) last year -- #1 among public schools
- Thread starter BringBackRoyal
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Not to mention an endowment of over $25B, 2nd only to Harvard.
The University of Texas endowment surpassed Yale University's as the second-wealthiest in U.S. higher education, according to an annual survey released Thursday by Commonfund and the National Association of College and University Business Officers.
The value of the Texas System's fund grew 24 percent to $25.4 billion in the year ended June 30, the biggest after Harvard University's $35.9 billion. Yale's endowment, which had ranked second since at least 2002, increased 15 percent to $23.9 billion.
http://www.bloomberg.com/news/articles/2015-01-29/university-of-texas-endowment-tops-25-billion-surpassing-yale
The University of Texas endowment surpassed Yale University's as the second-wealthiest in U.S. higher education, according to an annual survey released Thursday by Commonfund and the National Association of College and University Business Officers.
The value of the Texas System's fund grew 24 percent to $25.4 billion in the year ended June 30, the biggest after Harvard University's $35.9 billion. Yale's endowment, which had ranked second since at least 2002, increased 15 percent to $23.9 billion.
http://www.bloomberg.com/news/articles/2015-01-29/university-of-texas-endowment-tops-25-billion-surpassing-yale
Will some of that money be used to get the athletic dept. out of the red or is that strictly educational funds?
JSTO hasn't your athletic been losing money the last 2 years? Perhaps you are right and all of those published reports are wrong? Check that out and get back to us ASAP.
This post was edited on 2/12 12:42 PM by Belldozer1
This post was edited on 2/12 12:42 PM by Belldozer1
I already know the facts. Fact is that our athletic dept makes more than any other program. It also had a year where it had to pay two coaching staffs. It wasn't two years, it was only one year. And to say they are in the read it totally false and completely disingenuous, which isn't a shock considering you are the source.
The fact remains that they have a bankroll that is larger than the GDP of the entire state of OK. And year in and out, they give $ back to academia.
Maybe you should get your facts straight.
Which just puts a larger target on your back for obama and his minions to decide that's too much, and that UT and Harvard are just too wealthy when hard-working (or illegal non-working) parents can't afford to send little Timmy or Mary to college. Metallica will need to re-name their song "Enter Taxman"!!!!
JSTO just to paraphrase, your athletic dept is in the red right? A simple yes or know would have sufficed. Your football program is in the black however. I am pretty sure the coaching salaries are coming out of you football program revenues. Not sure why that is being brought up.
Don't worry, blakebellblows, we'll spoon feed you. One year glitch due to football coach change. UT remains the biggest leviathan in the country in athletic dept revenues ($160M+) and profitability.
http://collegesportsblog.dallasnews.com/2015/01/report-texas-athletics-finishes-2013-2014-in-the-red.html/
It appears even a juggernaut like the Longhorn athletic program can't overcome the incredible costs associated with hiring an entirely new football coaching staff, as the Austin American-Statesman is reporting that the Texas athletics department finished last year with $2.8 million budget shortfall.
The deficit, which is the program's first since the 1999-2000 academic year, was blamed largely on the football program's coaching change and a decrease in the number of concerts held at the Frank Erwin Center, according to the Statesman.
http://longhorns.blog.statesman.com/2015/01/13/what-sports-at-the-university-of-texas-made-money-in-2013-14/
The Longhorns lost money last year for the first time since the 1999-2000 academic year. An 11.8 percent drop in ticket revenue was one of the main reasons for the fall into the red. Athletic director Steve Patterson also said a one-time cost of $4.375 million to buy out Charlie Strong's contract from Louisville upon his hire also added to the deficit. Former coach Mack Brown received a $2.75 million severance package...
Football cleared $77.6 million, men's basketball produced $6 million to the bottom line and baseball finished in the black at $1 million.
http://collegesportsblog.dallasnews.com/2015/01/report-texas-athletics-finishes-2013-2014-in-the-red.html/
It appears even a juggernaut like the Longhorn athletic program can't overcome the incredible costs associated with hiring an entirely new football coaching staff, as the Austin American-Statesman is reporting that the Texas athletics department finished last year with $2.8 million budget shortfall.
The deficit, which is the program's first since the 1999-2000 academic year, was blamed largely on the football program's coaching change and a decrease in the number of concerts held at the Frank Erwin Center, according to the Statesman.
http://longhorns.blog.statesman.com/2015/01/13/what-sports-at-the-university-of-texas-made-money-in-2013-14/
The Longhorns lost money last year for the first time since the 1999-2000 academic year. An 11.8 percent drop in ticket revenue was one of the main reasons for the fall into the red. Athletic director Steve Patterson also said a one-time cost of $4.375 million to buy out Charlie Strong's contract from Louisville upon his hire also added to the deficit. Former coach Mack Brown received a $2.75 million severance package...
Football cleared $77.6 million, men's basketball produced $6 million to the bottom line and baseball finished in the black at $1 million.
Thanks for posting that article Scholtz it explains why y'all are in the red. I knew I had read it somewhere but was too lazy to go find it.
TES paying your 1st year coach 5 mil per season may add a little insight into the problem too. What do you think hoss or do you think that is a good financial move?
One would think that you'll eventually face some sort of consequence for working to derail so many threads. Hopefully LonghornMM is paying attention. It boggles the mind that he has let this crap run unchecked for so long.
Lots of rich people operate in the red when they're making big business deals. Companies too. They are generally not considered to be "broke" (... generally still considered to be rich) as long as the investments are well thought out and as long as the money is almost certainly there if/when they need it.
The University of Texas and Texas football are and will continue to be a cash cow (pardon the pun).
Damn Bell I'm going to assume you're just stirring the pot here bc you can't possibly be that ignorant of how budgets and big business works
