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    ISU is a major institution. It is normal to have Large Lines of credit.

    I don't buy the $$$ argument. Borrow the money for the buyout.


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    Re: ISU is a major institution. It is normal to have Large Lines of credit.

    We borrow money all the time. You have to have the money to make payments though. And I doubt a contract buyout is something you can finance.



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    Re: ISU is a major institution. It is normal to have Large Lines of credit.

    Except we've got a zillion dollars in loans already with financing JTS, the practice facility, etc.



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    Re: ISU is a major institution. It is normal to have Large Lines of credit.

    I'd hate to see Wells Fargo forclose on Hilton if we get behind on payments



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    Re: ISU is a major institution. It is normal to have Large Lines of credit.

    I'd love to see the fire our head coach bond issue.


    "Blamo"! The new CF approved swear word.

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    Re: ISU is a major institution. It is normal to have Large Lines of credit.

    I'm not sure, as a University department, the Athletic Department can even do something like that. Probably requires a bond issue or something.



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    Re: ISU is a major institution. It is normal to have Large Lines of credit.

    I'm not sure that "contract buyout" is a valid reason for a loan. There's not exactly anything tangible there. Even if it were, we're also paying off the current JTS expansion, the basketball practice facility, wanting to bowl in the end zones, and a whole lot more. JP's job is to make money - going into massive amounts of debt and incurring huge interest rates probably isn't the way to accomplish this.

    I'm sure Pollard would be more than happy to answer your question, however.


    M 7/09

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    Re: ISU is a major institution. It is normal to have Large Lines of credit.

    at this topic.

    ISU Administrator - "Can we get a loan or borrow on our line so we can buyout another sports coach?"

    Banker - "Seriously?!?!"



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    Re: ISU is a major institution. It is normal to have Large Lines of credit.

    I worked on the bond audits at ISU during my internship in 2005; not sure a coach's contract buyout would qualify as a valid reason to issue more bonds...



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    Re: ISU is a major institution. It is normal to have Large Lines of credit.

    I'll coach the team for the next five years @ $50,000 per year + $5,000 for every win. 20K for Big XII title and 10K for each post season win.

    I will save the University thousands of dollars over the next 5 years and win as many (and probably more) games.



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    Re: ISU is a major institution. It is normal to have Large Lines of credit.

    What would they have to put up as collateral?



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    Re: ISU is a major institution. It is normal to have Large Lines of credit.

    I love how everyone on this board is a bonafide D1 BCS level coach. Everyone is worried about a coaching search if we had one. I don't know why, apparently we have multiple options right here!!!!


    Cyclone
    Iowa State became the Cyclones after they leveled Northwestern in 1895. As the Chicago Tribune (9/29/1895) noted:
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  13. #13
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    Re: ISU is a major institution. It is normal to have Large Lines of credit.

    Quote Originally Posted by Angie View Post
    I'm not sure that "contract buyout" is a valid reason for a loan. There's not exactly anything tangible there. Even if it were, we're also paying off the current JTS expansion, the basketball practice facility, wanting to bowl in the end zones, and a whole lot more. JP's job is to make money - going into massive amounts of debt and incurring huge interest rates probably isn't the way to accomplish this.

    I'm sure Pollard would be more than happy to answer your question, however.
    wont you see him at the office?


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    Re: ISU is a major institution. It is normal to have Large Lines of credit.

    Quote Originally Posted by cycloneML View Post
    wont you see him at the office?
    I don't work at the AD. I think we may have some posters here who have ties there, though.


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    Re: ISU is a major institution. It is normal to have Large Lines of credit.

    Maybe since their construction has to go out to bid, maybe request bids from basketball coaches. I'll throw a bid at them. They give me a new car, a new pair of sneakers and a bag of chips and I PROMISE this team will have integity, do the right things, stay out of trouble and work hard. I make no promises that they would win a game or be competitive.



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