Financial help

non-gineer

non-gineer

Jolly Good Fellow
Joined
Nov 6, 2003
Messages
1,915
According to Chip Towers of AJC, UGA has over $70 million in their reserve fund which they can use to buy out coaches' contracts and whatever else. Maybe they'll loan us a few mill to buy out contracts of assistants or coaches in other sports.
 
cool-story-bro-500x499.jpg
 
That comes out to about 10 million hours of minimum wage work by their fans. That's some impressive support for their team.
 
non-gineer said:
According to Chip Towers of AJC, UGA has over $70 million in their reserve fund which they can use to buy out coaches' contracts and whatever else. Maybe they'll loan us a few mill to buy out contracts of assistants or coaches in other sports.
Click to expand...

You may be surprised at the size of the A-T Fund Endowment managed by The Georgia Tech Foundation.
 
augustabuzz said:
You may be surprised at the size of the A-T Fund Endowment managed by The Georgia Tech Foundation.
Click to expand...

Pretty much this. Both the research money and the endowment by themselves dwarf the revenue of even the SEC TV contract for all schools combined.

Funny how (to quote some of their more obnoxious fans) their AA is wiping their butts with Benjamin's, but the school is laying off staff and closing programs. We're the opposite... As it should be.
 
Well, they sure as hell aren't using it for education so its available for buying whatever or whoever they need over there.
 
Wasn't the UoG president envolved in some controversy when he tried to raid the endowment fund that belonged to the alumni association? The athletic association may have decided to keep their excess fund in house.
 
Unfortunately UGA's financial reports aren't available online, but various reports say they have just as much in debt. It doesn't make sense to me to have that much in the reserve fund and in debt. Maybe they wanted to lock in interest rates for construction over several years in the future.
 
You must log in or register to reply here.
Back
Top