Why Are We Broke?

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
I was able to get my sweet first row UN seats because nobody is buying ST's.

It is like the story now my uncle used to tell about GT football in the 70's. He said he called down to GT back then and asked "hey, I got a group of about 15 coming down to the game Saturday. Is there any way we can get those seats maybe grouped together over a few rows? Do you have tix available?"
Tech "yes sir, we can do that for you"
Uncle "that is awesome. Thank you so much!"
"By the way, what time is kickoff?"
Tech "depends, what time can y'all get here?"
 
Really crappy GTAA management going back two decades. Far too much debt load for the equity they have. To frustrate even more, now we're playing several of our best games in MBS - and covering up seats there. SMH. Add to that the incredibly stupid contracts to marginal (at best) coaches, leading to huge buyouts, and the associated futility of the major men's sports and you get what we have. They've been tossing good money after bad for 20 years or more. Hewitt's buyout in MBB was so bad that it has caused us to stay with marginal to slightly above coaches for over 10 years now. Stan, in all his wisdom, signed an experiment yet gave him a contract with a ludicrous buyout - so that if he plinked in year 4, he still got an 8-figure buyout. Geeze! It's no wonder the big donors finally said, "Enough!" and kicked him out, too.
 
If the $370 million in the hole is correct, the bad coaching contracts pale in comparison to bad money management.

Yeah, that’s why I’ve been thinking that the best thing Cabrera could do is find some way to alleviate the facilities debt. We’ve been able to raise money for more new construction (Edge, baseball), which is sexier than paying off 20 year old construction.

JRjr
 
Terrible financial decisions by AA (coaching contracts, renovations of various venues around campus, etc.) timed horribly with disinterest at various points from its only two money making sports (football and basketball) coinciding with the explosion of athletic spending elsewhere worsening the divide and ability to compete/draw in/recoup that lost fan generated revenue.
 
We need to hope FSU, Miami and Clemson find a way to get out of the GOR's deal and that the Big10 will still take us. That is the only way to generate the revenue we need to pay off our debt.
 
The North Endzone was in the $40m range back in 2003. You don't get $200m in debt off that.

Most of that was Radakovich spending on a credit card.
New softball facility? Consume a parking lot, put it on credit card.
New indoor football practice facility? Consume half of Rose Bowl field, leave out an endzone, put some of it on credit card.
New tennis facility? Put it on credit card.
New basketball arena? Put some of it on credit card.... have Bud Peterson be so impressed by the lead donation by Zelnak he lets Zelnak hire the next AD. And that's how we got Bobinsquatch.

Now you've accumulated something much closer to that $200m mark in debt.

Radakovich also sidelined the A-T Fund for the creation of the TECH Fund. That's the anti-IPTAY move and dumb.
 
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.
Nah it's too fun
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5 minute edit window? Can we get that increased? Here's my full can-no-longer-edit answer:


The North Endzone was in the $40m range back in 2003. You don't get $200m in debt off that.

Most of that was Radakovich spending on a credit card.
New softball facility? Consume a parking lot, put it on credit card.
New indoor football practice facility? Consume half of Rose Bowl field, leave out an endzone, put some of it on credit card.
New tennis facility? Put it on credit card.
New basketball arena? Put some of it on credit card.... have Bud Peterson be so impressed by the lead donation by Zelnak he lets Zelnak hire the next AD. And that's how we got Bobinsquatch.

Radakovich also sidelined the A-T Fund for the creation of the TECH Fund. That's the anti-IPTAY move and dumb.

Now you've accumulated something much closer to that $200m mark in debt. Throw in $10m to G**** C****** here, $5m to Gregory there, $5m to Pastner there, $10m to Paul Hewitt there, $4m to Gailey there.

Have to keep pouring millions in donation money into scholarships to bridge the gap in funding between endowed scholarships and non-endowed. (Cabrera is about to fix this with the $2b capital campaign which will fully endow all athletic scholarships)

Have your conference disbursements you're expecting to grow instead have a huge cut during COVID.

A few million dollars in mismanagement here .... a few million dollars in mismanagement there .... after 20 years you're talking real money!
 
Now’s the time to open up your purses and support the program. We have a money first AD at the helm and a coach 90% of you signed your names after. Now’s the time. Bitching about the program is free, actually doing something about it is different.

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Bad decisions. A series of cascading bad decisions starting while Dave Braine was AD. I have no insights or visibility to what happens on the spreadsheets at the GTAA but a few obvious things jump out that have already been talked about. But let's see if we can do an unnecessary expansion of those talked about things, you know, kind of like....

The unnecessary stadium expansion/renovation.
I don't know the numbers but I'd be shocked if the upper north ticket revenue has come close to paying for this aesthetic nightmare. An unending set of empty stadium steps going up into the clouds casting an ominous shadow over everything beneath. Who in their right mind would think anyone would choose to sit up there over watching it on TV in the comfort of their own homes without having to dodge helicopters, circling buzzards and low orbit satellites?

The chair backs gutted the Tech home crowd, cutting it in half like Sherman's march to the sea, the Berlin wall or I-75 running straight through the heart of Atlanta, destroying continuity. Half empty most of the time, the chair backs project a terrible image in house and on TV. Whether you like the chair back club experience or not, it has a big net negative effect on the crowd atmosphere and home field advantage. Bad planning, bad designs, bad results and I would expect bad return on investment. They should tear this sh*t out and reconnect the fans. "JBATT, TEAR DOWN THAT WALL!".

I don't know what, if anything, can be done with the monstrosity that is the upper north. Maybe we can put a telescope up there.

Paul Hewitt.
It's a shame because coming off the Final Four run it sure looked like Tech was rolling and Hewitt was the right guy. We weren't and he wasn't. A disastrous contract that cost a fortune to get out of. If you look across college football you will see other programs making the same kinds of mistakes. Time will only tell, but the gargantuan contracts at Michigan State w/ Mel Tucker and Texas A&M w/ Jimbo Fisher are beginning to look regrettable. I don't know the details but the buyouts are crippling. Tech paid dearly for this mistake for years leading to...

Instability at GTAA. Buyouts and more buyouts.
After the Hewitt debacle and monster buyout, Dan Radakovich subsequently hired Brian Gregory (76-86) paying a buyout to Dayton. DRad split for Clemson leading to Mike Bobinski who canned Gregory paying him a buyout and hired Josh Pastner (94-96) with Bobinski promptly splitting for Purdue. This lead to hiring Todd Stansbury which required a buyout to Oregon State who then hired Collins (10-28) requiring a buyout to Temple. Collins and Stansbury were subsequently sh*t canned, requiring buyouts of course, leading to JBatt who just hired Brent Key (4-4) who heretofore has had no HC experience except in the interim capacity and... wait for it....NO BUYOUTS WOOO!

Trouble with the NCAA. I don't know what all the violations and sanctions have been and I am not going to dig them all up and try to re-litigate any of it but suffice it to say, Tech can't afford any and we've had too many. It has significantly added to the difficulty and if one were conspiratorial minded it might appear damn near malicious. Not really sayin, just sayin.

The ACC. While the arms race has gotten out of control and college athletics has become more and more expensive to operate, the ACC has lagged behind in supporting it's members relative to competing conferences. The Big Ten and the SEC now control the future of college sports. The ACC has made terrible longterm TV deals leaving it's members at a disadvantage. Polarization between the haves and the have nots of college sports is becoming extreme. Tech is facing the same decisions a lot of programs are as the chairs dwindle and the music begins to go long. UCLA and USC jumping to the Big 10 should be a screaming alarm bell to everyone. Where Tech ends up is anyone's guess but we better put on our best dress and start looking.

Where we are now. A giant pile of bad decisions, bad results, bad luck, bad actions and expensive failures bring us here with the burden of more buyouts than I can count leading to historic GTAA instability and ever more precarious financial footing. The hope is that JBatt and Brent Key can stop the bleeding.

Basketball remains to be seen but I am no fan of Josh Pastner. Based on the above disasters described (and probably more I don't know about), I wouldn't expect a change in basketball any time soon unless Pastner significantly underperforms his mediocre record. I personally would just let his contract run out while he is in place. We can't afford any more misadventures paying for former coaches to not coach.

I think there should be a big a$$ sign placed right above the coffee maker in the Edge building reading, "NO MORE BUYOUTS!". I assume JBatt has found the coffee maker.

Just my 2¢.
 
Bad decisions. A series of cascading bad decisions starting while Dave Braine was AD. I have no insights or visibility to what happens on the spreadsheets at the GTAA but a few obvious things jump out that have already been talked about. But let's see if we can do an unnecessary expansion of those talked about things, you know, kind of like....

The unnecessary stadium expansion/renovation.
I don't know the numbers but I'd be shocked if the upper north ticket revenue has come close to paying for this aesthetic nightmare. An unending set of empty stadium steps going up into the clouds casting an ominous shadow over everything beneath. Who in their right mind would think anyone would choose to sit up there over watching it on TV in the comfort of their own homes without having to dodge helicopters, circling buzzards and low orbit satellites?

The chair backs gutted the Tech home crowd, cutting it in half like Sherman's march to the sea, the Berlin wall or I-75 running straight through the heart of Atlanta, destroying continuity. Half empty most of the time, the chair backs project a terrible image in house and on TV. Whether you like the chair back club experience or not, it has a big net negative effect on the crowd atmosphere and home field advantage. Bad planning, bad designs, bad results and I would expect bad return on investment. They should tear this sh*t out and reconnect the fans. "JBATT, TEAR DOWN THAT WALL!".

I don't know what, if anything, can be done with the monstrosity that is the upper north. Maybe we can put a telescope up there.

Paul Hewitt.
It's a shame because coming off the Final Four run it sure looked like Tech was rolling and Hewitt was the right guy. We weren't and he wasn't. A disastrous contract that cost a fortune to get out of. If you look across college football you will see other programs making the same kinds of mistakes. Time will only tell, but the gargantuan contracts at Michigan State w/ Mel Tucker and Texas A&M w/ Jimbo Fisher are beginning to look regrettable. I don't know the details but the buyouts are crippling. Tech paid dearly for this mistake for years leading to...

Instability at GTAA. Buyouts and more buyouts.
After the Hewitt debacle and monster buyout, Dan Radakovich subsequently hired Brian Gregory (76-86) paying a buyout to Dayton. DRad split for Clemson leading to Mike Bobinski who canned Gregory paying him a buyout and hired Josh Pastner (94-96) with Bobinski promptly splitting for Purdue. This lead to hiring Todd Stansbury which required a buyout to Oregon State who then hired Collins (10-28) requiring a buyout to Temple. Collins and Stansbury were subsequently sh*t canned, requiring buyouts of course, leading to JBatt who just hired Brent Key (4-4) who heretofore has had no HC experience except in the interim capacity and... wait for it....NO BUYOUTS WOOO!

Trouble with the NCAA. I don't know what all the violations and sanctions have been and I am not going to dig them all up and try to re-litigate any of it but suffice it to say, Tech can't afford any and we've had too many. It has significantly added to the difficulty and if one were conspiratorial minded it might appear damn near malicious. Not really sayin, just sayin.

The ACC. While the arms race has gotten out of control and college athletics has become more and more expensive to operate, the ACC has lagged behind in supporting it's members relative to competing conferences. The Big Ten and the SEC now control the future of college sports. The ACC has made terrible longterm TV deals leaving it's members at a disadvantage. Polarization between the haves and the have nots of college sports is becoming extreme. Tech is facing the same decisions a lot of programs are as the chairs dwindle and the music begins to go long. UCLA and USC jumping to the Big 10 should be a screaming alarm bell to everyone. Where Tech ends up is anyone's guess but we better put on our best dress and start looking.

Where we are now. A giant pile of bad decisions, bad results, bad luck, bad actions and expensive failures bring us here with the burden of more buyouts than I can count leading to historic GTAA instability and ever more precarious financial footing. The hope is that JBatt and Brent Key can stop the bleeding.

Basketball remains to be seen but I am no fan of Josh Pastner. Based on the above disasters described (and probably more I don't know about), I wouldn't expect a change in basketball any time soon unless Pastner significantly underperforms his mediocre record. I personally would just let his contract run out while he is in place. We can't afford any more misadventures paying for former coaches to not coach.

I think there should be a big a$$ sign placed right above the coffee maker in the Edge building reading, "NO MORE BUYOUTS!". I assume JBatt has found the coffee maker.

Just my 2¢.
Ok now put that 2¢ in the AT fund.
 
Bad decisions. A series of cascading bad decisions starting while Dave Braine was AD. I have no insights or visibility to what happens on the spreadsheets at the GTAA but a few obvious things jump out that have already been talked about. But let's see if we can do an unnecessary expansion of those talked about things, you know, kind of like....

The unnecessary stadium expansion/renovation.
I don't know the numbers but I'd be shocked if the upper north ticket revenue has come close to paying for this aesthetic nightmare. An unending set of empty stadium steps going up into the clouds casting an ominous shadow over everything beneath. Who in their right mind would think anyone would choose to sit up there over watching it on TV in the comfort of their own homes without having to dodge helicopters, circling buzzards and low orbit satellites?

The chair backs gutted the Tech home crowd, cutting it in half like Sherman's march to the sea, the Berlin wall or I-75 running straight through the heart of Atlanta, destroying continuity. Half empty most of the time, the chair backs project a terrible image in house and on TV. Whether you like the chair back club experience or not, it has a big net negative effect on the crowd atmosphere and home field advantage. Bad planning, bad designs, bad results and I would expect bad return on investment. They should tear this sh*t out and reconnect the fans. "JBATT, TEAR DOWN THAT WALL!".

I don't know what, if anything, can be done with the monstrosity that is the upper north. Maybe we can put a telescope up there.

Paul Hewitt.
It's a shame because coming off the Final Four run it sure looked like Tech was rolling and Hewitt was the right guy. We weren't and he wasn't. A disastrous contract that cost a fortune to get out of. If you look across college football you will see other programs making the same kinds of mistakes. Time will only tell, but the gargantuan contracts at Michigan State w/ Mel Tucker and Texas A&M w/ Jimbo Fisher are beginning to look regrettable. I don't know the details but the buyouts are crippling. Tech paid dearly for this mistake for years leading to...

Instability at GTAA. Buyouts and more buyouts.
After the Hewitt debacle and monster buyout, Dan Radakovich subsequently hired Brian Gregory (76-86) paying a buyout to Dayton. DRad split for Clemson leading to Mike Bobinski who canned Gregory paying him a buyout and hired Josh Pastner (94-96) with Bobinski promptly splitting for Purdue. This lead to hiring Todd Stansbury which required a buyout to Oregon State who then hired Collins (10-28) requiring a buyout to Temple. Collins and Stansbury were subsequently sh*t canned, requiring buyouts of course, leading to JBatt who just hired Brent Key (4-4) who heretofore has had no HC experience except in the interim capacity and... wait for it....NO BUYOUTS WOOO!

Trouble with the NCAA. I don't know what all the violations and sanctions have been and I am not going to dig them all up and try to re-litigate any of it but suffice it to say, Tech can't afford any and we've had too many. It has significantly added to the difficulty and if one were conspiratorial minded it might appear damn near malicious. Not really sayin, just sayin.

The ACC. While the arms race has gotten out of control and college athletics has become more and more expensive to operate, the ACC has lagged behind in supporting it's members relative to competing conferences. The Big Ten and the SEC now control the future of college sports. The ACC has made terrible longterm TV deals leaving it's members at a disadvantage. Polarization between the haves and the have nots of college sports is becoming extreme. Tech is facing the same decisions a lot of programs are as the chairs dwindle and the music begins to go long. UCLA and USC jumping to the Big 10 should be a screaming alarm bell to everyone. Where Tech ends up is anyone's guess but we better put on our best dress and start looking.

Where we are now. A giant pile of bad decisions, bad results, bad luck, bad actions and expensive failures bring us here with the burden of more buyouts than I can count leading to historic GTAA instability and ever more precarious financial footing. The hope is that JBatt and Brent Key can stop the bleeding.

Basketball remains to be seen but I am no fan of Josh Pastner. Based on the above disasters described (and probably more I don't know about), I wouldn't expect a change in basketball any time soon unless Pastner significantly underperforms his mediocre record. I personally would just let his contract run out while he is in place. We can't afford any more misadventures paying for former coaches to not coach.

I think there should be a big a$$ sign placed right above the coffee maker in the Edge building reading, "NO MORE BUYOUTS!". I assume JBatt has found the coffee maker.

Just my 2¢.
I hate to break it to you, but it isn't just the upper north of our stadium that is an aesthetic nightmare. Our entire stadium, including Wardlaw and the Edge, need razed and rebuilt.
 
Swafford is the main reason. Piss poor ACC tv contracts lagging $20-30M per school behind sec/b10. Should have joined b10 when Maryland did and should jump at the chance if given it again.

Upper north/debt/construction bs.

Paying of Hewitt, Gregory, Chan, Collins.

Not winning consistently enough in either of the 2 revenue sports.
 
Radakovich also sidelined the A-T Fund for the creation of the TECH Fund. That's the anti-IPTAY move and dumb.
I don't think we had much choice but to switch funding methods for ticket allotment. It sucks because now folks can drop their seats without any fear that they won't be able to relocate to prime seats in the future. I remember going to pick out seats (pre Tech Fund) and we knew these were the best seats we could get based on donation history. If we gave them up they would be gone for good. Now all you have to do is "donate" $600 and you can sit on the 50 yard line.
 
Now’s the time to open up your purses and support the program. We have a money first AD at the helm and a coach 90% of you signed your names after. Now’s the time. Bitching about the program is free, actually doing something about it is different.
If someone gave the AA 370 million would they use it to pay down debt, or build new things?
 
If someone gave the AA 370 million would they use it to pay down debt, or build new things?
I don’t know dude. Fair concern but Batt was hired to fix the finances. So far it seems like he’s made decent financial decisions. We can’t keep going back to all the mistakes GTAA has made in the past as a reason to not give money. I’m hoping he will contact big donors with a plan and let them know what he needs and what he’s planning on doing with it. Our job meanwhile is to buy season tickets at the very least. That’s a small sacrifice to keep Tech football alive.
 
Is it really because of bad coaching contracts?
Simple, really - not bad coaching contracts but bad coaching. If so many of our recent hires didn't suck donkey balls, we'd be fine. I don't think our contracts are any worse than a lot of other schools around here but we don't have checkbooks lined up to restock the coffers when we have to let yet another incompetent coach live in luxury for sucking at his job.

Look at Auburn, they should be in worse shape but they aren't. Why not? Their athletic department has a drawer full of blank checks.
 
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