Why Are We Broke?

Because our negotiations skills have been horrible in the past with the coaches we select they borders pure desperation. On the basketball side It started with Paul Heweitt and his better than Coach K “lifetime revolving 7 year contract” which was destined to be bloody on the balance sheet then you hired Gregory then you end up on the $.99 menu shopping for coaches and end up with Pastner. Football hasn’t been much better but throw in some needless football stadium expansion projects coupled with poor attendance and you end up in the mess you are. Anyone who helps us turn this around will be a very hot commodity for upward mobility whether it’s a coach or an AD
 
EastboundJacket said:
Is it really because of bad coaching contracts?
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www.fromtherumbleseat.com

Georgia Tech Football: Show Me the Money

You’ve got the brawn debt / I’ve we’ve got the brain analysis and suggestions / let’s make lots of money.
www.fromtherumbleseat.com www.fromtherumbleseat.com
www.fromtherumbleseat.com

Opinion Week: FUNdraising!

y’all bout to hate me
www.fromtherumbleseat.com www.fromtherumbleseat.com
1669962645933.png

The article is from 2 years ago, so maybe Todd did some refinancing at some point. Regardless, apart from ööööty coaching contracts, we have 300m in debt. If we indeed didn't restructure the debt, we are on the hook for 42 mil this year plus needing to hire a new coach.
 
ibeattetris said:
www.fromtherumbleseat.com

Georgia Tech Football: Show Me the Money

You’ve got the brawn debt / I’ve we’ve got the brain analysis and suggestions / let’s make lots of money.
www.fromtherumbleseat.com www.fromtherumbleseat.com
www.fromtherumbleseat.com

Opinion Week: FUNdraising!

y’all bout to hate me
www.fromtherumbleseat.com www.fromtherumbleseat.com
1669962645933.png

The article is from 2 years ago, so maybe Todd did some refinancing at some point. Regardless, apart from ööööty coaching contracts, we have 300m in debt. If we indeed didn't restructure the debt, we are on the hook for 42 mil this year plus needing to hire a new coach.
Click to expand...
Holy ööööing öööö we should have joined Big10 3 years ago. DRad did all this damage? This is on par with the death penalty.
 
ibeattetris said:
www.fromtherumbleseat.com

Georgia Tech Football: Show Me the Money

You’ve got the brawn debt / I’ve we’ve got the brain analysis and suggestions / let’s make lots of money.
www.fromtherumbleseat.com www.fromtherumbleseat.com
www.fromtherumbleseat.com

Opinion Week: FUNdraising!

y’all bout to hate me
www.fromtherumbleseat.com www.fromtherumbleseat.com
1669962645933.png

The article is from 2 years ago, so maybe Todd did some refinancing at some point. Regardless, apart from ööööty coaching contracts, we have 300m in debt. If we indeed didn't restructure the debt, we are on the hook for 42 mil this year plus needing to hire a new coach.
Click to expand...
Great post. Somebody else gets the financials and it’s literally the thing shackling our programs. Bad news- Clown tanked our biggest revenue stream. Needs immediate rebuild- Cabrera, Batt and Key got their hands full.

Good news- AI and we restructured our debt. Inflation will help too as long as revenue keeps up with us. 5.5% debt at 10% inflation makes your debt cheaper.
 
Simply put? Bad money management, mixed with bad deals. GT isn't the government. They can't just simply print more money, to fix the issue.
 
Death2UGAy said:
Because our negotiations skills have been horrible in the past with the coaches we select they borders pure desperation. On the basketball side It started with Paul Heweitt and his better than Coach K “lifetime revolving 7 year contract” which was destined to be bloody on the balance sheet then you hired Gregory then you end up on the $.99 menu shopping for coaches and end up with Pastner. Football hasn’t been much better but throw in some needless football stadium expansion projects coupled with poor attendance and you end up in the mess you are. Anyone who helps us turn this around will be a very hot commodity for upward mobility whether it’s a coach or an AD
Click to expand...
The football expansion wasn't "needless". It was necessary. GOL was HC when it was approved. Life would have been different had he stayed. Folks need to let the now 20 year old stadium expansion go.
 
Stupid hires and paying people not to work for us.

The stadium expansion too, but that seemed like a good idea at the time when we were consistently good and had good crowds. We also had FSU regularly at home during that time. The loss of that home game hurts.
 
I saw a ranking of debt of all P5 schools at some point. I can't remember where we were on that list. I'm pretty sure I saw a list, maybe I'm remembering wrong. Where are we compared to other schools?
 
Immediately after stadium expansion we averaged 53K/game in 2003. Yeah that included Auburn, UGA, and Clemson, but was also 50k NCST, 52k Maryland, and 52k UNC.

Yeah, they put way too many seats in the wrong spot. But mediocrity and disappointing seasons took a bigger toll. We've made much much worse decisions.
 
GT flunkout said:
Immediately after stadium expansion we averaged 53K/game in 2003. Yeah that included Auburn, UGA, and Clemson, but was also 50k NCST, 52k Maryland, and 52k UNC.

Yeah, they put way too many seats in the wrong spot. But mediocrity and disappointing seasons took a bigger toll. We've made much much worse decisions.
Click to expand...
lol yea. At Miss game this year with my wife, my buddy and his girlfriend. We were first row UE around the 30 and there was pretty much nobody around us. We told the ladies that for ~10 years we would sit in the UN more than halfway up and it was often full and a fun place to watch the game. They didn’t believe us
 
Looking at that balance sheet... am I reading it right in that we are $369M in the red? If so, how can any human possibly fix this?

As far as the blame game, everyone always points fingers at the last man holding the bag but our troubles started long ago.
 
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