Financial state of XU athletics and the NCAA

[basket]

With todays news of UC dropping its mens soccer program is this just the start locally and nationally of schoools dropping sports to save $? I hope not!! I did see that UC WAS going to honor the scholorships for those young men. Lets hope this virus ends quickly and we can get back to normal and the dominos stop falling!!

[whopper]

It is definitely something to pay attention to. Colleges bring in 10 billion a year but cost 18 billion according to Axios an excellent hard news web site. 8 billion is made up from student fees and school contributions. There are going to be so many ramifications from this coronavirus it will be mind boggling and scary. One example is Naj..there will be no "combines" or summer leagues and the G league (for JP , Tre, Kaiser as well) is subsidized by the NBA.. Europe is worse than us for coronavirus. Many questions.

[Xavgrad08]

This has potential to be very bad for most Universities on the athletics side and academic side. Some schools have been asking the highest paid employees in the athletic department to take temporary pay cuts. Iowa State and Louisville did this. Mack had to take a 10 percent reduction. https://amp.courier-journal.com/amp/5131927002

[Olsingledigit]

Title IX plays into this too. I am sure that was part of the decision for UC. Nothing like a good ole financial crisis to point out flaws in the system. I think X also had to pay back a lot of room and board for the spring semester, so the cost is not just lost athletic revenues.

[basket]

Again I hope I am wrong but ALL of this, I think, is going to get MUCH worse before it gets better. Lets ALL keep our faith!!

[basket]

It's gotten worse!

https://www.espn.com/college-football/story/_/id/29037022/five-fbs-conferences-including-aac-c-usa-ask-ncaa-relax-division-requirements

[whopper]

that is very sobering as spring football is dead, baseball dead and everything at risk. There are going to be so many secondary and tertiary effects that is is mind bobbling.

[Masterofreality]

This has potential to be very bad for most Universities on the athletics side and academic side. Some schools have been asking the highest paid employees in the athletic department to take temporary pay cuts. Iowa State and Louisville did this. Mack had to take a 10 percent reduction. https://amp.courier-journal.com/amp/5131927002

So Mack went to Louisewer for what turned out to be only $600,000 more per year? (Tee Hee)

[Masterofreality]

Title IX plays into this too. I am sure that was part of the decision for UC. Nothing like a good ole financial crisis to point out flaws in the system. I think X also had to pay back a lot of room and board for the spring semester, so the cost is not just lost athletic revenues.


Plus no revenue from the Big East Tournament, very little from the NCAA Tournament (which with 6 teams was going to be a league bonanza) and probably the league having to credit FoxTV money. This really hurts in lots of ways.
I did already renew my season tix tho. There's that.

[Masterofreality]

It's gotten worse!

https://www.espn.com/college-football/story/_/id/29037022/five-fbs-conferences-including-aac-c-usa-ask-ncaa-relax-division-requirements


It is funny though that "power 6" AAAAAAAAAAAAAAAAAAAAAC is joining with the MAC and other "mid-majors" in this effort.
I can't help myself.

[basket]

Plus no revenue from the Big East Tournament, very little from the NCAA Tournament (which with 6 teams was going to be a league bonanza) and probably the league having to credit FoxTV money. This really hurts in lots of ways.
I did already renew my season tix tho. There's that.


I hope XU is appreciative of your continued support during these difficult times. As we are our ONLY saving graces. I'll be VERY surprised if there is football this fall. Which means basketball is in trouble.

[Lamont Sanford]

Plus no revenue from the Big East Tournament, very little from the NCAA Tournament (which with 6 teams was going to be a league bonanza) and probably the league having to credit FoxTV money. This really hurts in lots of ways.
I did already renew my season tix tho. There's that.

Speaking of season ticket renewals...the early bird deadline is 4/30, will XU refund all payments if the 20/21 season is cancelled or played sans fans??? I really think XU should have extended season ticket renewals further into Spring/Summer given the current situation. It's still all about the money though.

[Muskie]

I renewed mine as well. They did have an option to spread out the payments longer if you wanted. Not sure what they would do if season is cancelled or played without fans.

[bjf123]

I haven’t gotten anything in the mail about renewing mine. I saw a few emails about them extending the payment terms.


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[X-man]

I just renewed my three seats in 105. I feel reasonably confident that by November, the situation will be clarified and that the basketball games will be played in front of fans. If not, I am just as confident that Xavier will refund the money.

[xudash]

This is my take:

1. HOW IS IT TRACKING. Current situation with COVID-19 is such that it appears that it not only is not going to become apocalyptic, but that it is beginning to show signs of flattening out, with respect to the "curve", and that its lethality rate isn't going to be as severe as once thought.

Yes, there is still a lot of uncertainty due to the nature of the virus (e.g. can you get it again, just how transportable is it, how far off are we from vaccines, etc.), but we do not appear at this point to be looking at 1918 all over again.



2. VIRUS v ECONOMY. There has been, is and will continue to be a lot of politically charged "discussion" going back and forth about saving lives via the continuing collective approach to managing the virus versus saving the economy. Let's be clear: lives are being ruined and some are literally being lost due to the strain on the economy. We have to do the right thing when it comes to COVID-19.

But I also am of the strong opinion that this very strong, invisible, pathetic mosquito is increasingly becoming dealt with by a howitzer. Balance, is the point. We should be close - mid-May or June 1 at the latest - to beginning to open the economy back up on a rolling basis.



3. EFFECT ON XAVIER ATHLETICS. As for the effect of all this on Xavier's athletic department, the most important question to ask, given the severity of this thing, is can we and will we work our way through it, coming out the other end in reasonably healthy shape? I believe we will. Look at it like this: there is the matter of gross revenue, total expense and net profit and then there is the matter of opportunity cost.

Take the latter, firstly: we missed out on a great year for the BE for NCAAT Unit monies and revenue from the BET. That will have a direct effect on revenue, of course. Fortunately, there is some insurance money that will offset the lost NCAAT revenue stream going forward. And this is a future payouts issue. it will be as though the conference didn't perform well, in the sense that Units won't be there that otherwise would have been there in the immediate years to come. We at least got last season in the books, as painful as it was to witness.

So, the $64,000 infected question is what happens from here; do we get to play this year? I go back to my points 1 and 2. We are in April. NCAA D1 basketball is months - MONTHS - away. If it is reasonable to expect that a gradual rollout of the economy begins in mid-May or even by June 1, then it has to be reasonable to believe that universities will reopen for business as usual in August/September and that even football will be played in some way again, and I offer that statement based on having a vaccine or having no vaccine.

How? Don't know what that looks like yet. Students sign waivers if they come back to campus? Schools stock certain supplies in case of some form of outbreak at that point, if such a thing is an issue at that time? You turn your TV on and tune it to a college football game and the camera zooms in on the student section in the stadium and you're left there looking at 20,000 young bank robber look-a-likes wearing masks? I don't know. But I know we're talking about a mostly young crowd who are less susceptible to the effects of this virus.

We are months away from the idea of losing a full basketball season. We are days away, at most, of receiving some indication on how the economy is to be restarted. There is enough meat on that timeline to tell me that we'll come to witness Travis Steele getting air under his wings with mostly his young squad as they move to chalk up a successful season and NCAAT birth.

[paulxu]

In addition to the NCAAT insurance $ that were shared with schools, the BE also had insurance for the tournament in MSG, which would have been distributed to all members.

[whopper]

Even though i am a huge basketball fan i am also an father of 2 Xavier daughters one who is getting married in Bellarmine on Sept 12. We are of course worried and have a reception at Longworth Hall later in the day. If any local posters have any thoughts it would be appreciated. I am appearing confident to everyone and with 5 months time i "think" we will be OK but would love to be sure as far as possible. Thanks

[Muskie]

Bowling Green just eliminated Baseball. (Link (https://twitter.com/i/web/status/1261355375762132994))

[Masterofreality]

And Akron eliminated Men's Golf.

That sucks. Those guys got to play Firestone.....A LOT!!

[coasterville95]

I renewed my seat so my paltry donation to the all for one went in this week.

I’m hopeful but not optimistic about the upcoming season. (I opted for the half now, half in October plan) by October we should have some clarification

Colleges cutting sports permanently is concerning. I can’t imagine the stress big football schools are going through right now.

Which school was it on read not only dropped some sports but are also revoking the associated scholarships. Most schools at least say they will honor the free ride and let the athlete choose to leave. Better optics.


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