Godfather7 and I exchanged comments earlier today on another thread here and he pointed me to information regarding all of the projects currently on the drawing board for various Maryland sports. The list is long and highlights just how badly the university has kept up with the development of new generation facilities. If it's even possible, the list doesn't even tell the whole story of how bad the situation is. For example, in baseball and softball, the upgrades include indoor facilities to allow full year access for the players to train regardless of weather. However, neither sport has on their "to do" list, upgrades to their respective venues. Anyone who has been reading here in the last day or two knows that temporary seating and lighting are being installed at the baseball field in anticipation of the terps receiving a number 1 seed in the upcoming NCAA tournament and hosting the sectional. How embarrassing is it that our field is so sub-standard that we have to make last minute additions in order to host post season baseball games? Who are we...the University of Podunk? If you have watched ESPN cover baseball since the conclusion of the basketball season, you've seen games from the ACC, SEC, and Big 12 conferences. Those stadiums make our baseball facility look like a little league field.
All of this is leading me back to the title of this thread. Where has all the money gone? We left the ACC for more money. We then borrowed from the Big Ten from those increased revenues to pay down debt. I have no idea where we are today in terms of financial solvency, but it seems like every time a project is discussed, we hear from Damon Evans that there are no funds. I admit to a complete ignorance as to how the University of Maryland funds any projects. It appears that, with regard to athletics at least, much if not all of the funding comes from donors. Is that how it works for other projects? For example, if a new dorm, dining hall, or chemistry building is required, does the university seek donors (other than for naming rights), or does the money come from the school's capital accounts? Where does the money go from tuition, state funding, all-purpose grants, etc.? Is there an oversight group that reviews how the money comes in and how it goes out? The one thing that jumps out when one looks at the projects list I referred to earlier is that we aren't just deficient in a single sport, but rather it's across the board. What were the powers-that-be doing all these years that put us in this unenviable position?
During Debbie Yow's time as A D, there were rumors that she was "cooking the books". I don't know if that's true or not, but typically when one is doing that, there is an audit/money trail that, if followed, leads to whoever or whatever was the beneficiary of those misappropriations. Did that ever happen or was there a quid pro quo that swept everything under the rug in return for her resignation? What we do know is that her successor, Kevin Anderson, was an unmitigated disaster. And for anyone that's been paying attention, I'm not sold on the current guy either. I know that Maryland lost a lot of money as a result of COVID, but every school did. It's time we have a full understanding of the current state of the school's athletic department finances and a plan to cure any shortfalls and get the program back in the black. Otherwise, we'll be like the proverbial gerbil racing around on the wheel, but not ever getting anywhere. This discussion is very timely because as you have probably read the Big Ten is in the home stretch of negotiating its next rights fees arrangements. There's speculation in the media that total fees will exceed one billion dollars per year which means that each member school will receive north of $70 million per year. If we don't get our hands around the current state of affairs and have a real plan to dig us out, we'll be just like that gerbil.
I would appreciate comments from anyone who can add to this discussion. Also, take a look at the future projects on the drawing board for each sport and ask yourself how will we ever get these facilities built?
All of this is leading me back to the title of this thread. Where has all the money gone? We left the ACC for more money. We then borrowed from the Big Ten from those increased revenues to pay down debt. I have no idea where we are today in terms of financial solvency, but it seems like every time a project is discussed, we hear from Damon Evans that there are no funds. I admit to a complete ignorance as to how the University of Maryland funds any projects. It appears that, with regard to athletics at least, much if not all of the funding comes from donors. Is that how it works for other projects? For example, if a new dorm, dining hall, or chemistry building is required, does the university seek donors (other than for naming rights), or does the money come from the school's capital accounts? Where does the money go from tuition, state funding, all-purpose grants, etc.? Is there an oversight group that reviews how the money comes in and how it goes out? The one thing that jumps out when one looks at the projects list I referred to earlier is that we aren't just deficient in a single sport, but rather it's across the board. What were the powers-that-be doing all these years that put us in this unenviable position?
During Debbie Yow's time as A D, there were rumors that she was "cooking the books". I don't know if that's true or not, but typically when one is doing that, there is an audit/money trail that, if followed, leads to whoever or whatever was the beneficiary of those misappropriations. Did that ever happen or was there a quid pro quo that swept everything under the rug in return for her resignation? What we do know is that her successor, Kevin Anderson, was an unmitigated disaster. And for anyone that's been paying attention, I'm not sold on the current guy either. I know that Maryland lost a lot of money as a result of COVID, but every school did. It's time we have a full understanding of the current state of the school's athletic department finances and a plan to cure any shortfalls and get the program back in the black. Otherwise, we'll be like the proverbial gerbil racing around on the wheel, but not ever getting anywhere. This discussion is very timely because as you have probably read the Big Ten is in the home stretch of negotiating its next rights fees arrangements. There's speculation in the media that total fees will exceed one billion dollars per year which means that each member school will receive north of $70 million per year. If we don't get our hands around the current state of affairs and have a real plan to dig us out, we'll be just like that gerbil.
I would appreciate comments from anyone who can add to this discussion. Also, take a look at the future projects on the drawing board for each sport and ask yourself how will we ever get these facilities built?
