No, the angle I took is that ISU is INCREASING expenditures drastically based on those future earnings.
Biffhammer - bashes ISU
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No, the angle I took is that ISU is INCREASING expenditures drastically based on those future earnings.
Do I hate what is being said, absolutely.
Iowa State: I'm Here Because You Need Me Now - I Am The 12th Man
But then I try and take a rational thought to what they are saying and it does make me consider things. Should we be drastically increasing our expenditures when we truly don't know if that $$ will be there?
Iowa State: I'm Here Because You Need Me Now - I Am The 12th Man
But then I try and take a rational thought to what they are saying and it does make me consider things. Should we be drastically increasing our expenditures when we truly don't know if that $$ will be there?
All that matters is Fox and ESPN, they want the Big 12 to stay together no matter if we lose OU and Texas. They want to avoid superconferences. There will be BCS suitors at the door to fill in with the forgotten 5 sticking together, the nucleus, sticking together.
I'm just gonna come out and say it. You and Biffhammer are coming under fire because it's YOUR viewpoint that is extreme. You may not think so, but there are many people on this board that are fiscal conservatives and do not like the ideas of overspending/going into debt/etc and yet they generally understand the situation and generally have no problem with what's happened so far.
If an astute bank loaned ISU the money to build a videoboard and the regents approved it, it must be more than a toilet paper agreement. The ESPMN contract is a legal contract ifg 1B was involved.
As far as Tam taking a hike, maybe few members protested much in the past, but maybe times have changed. There were such lawsuits along the atlantic conferences already last year. Homey cannot just pick up his marbles and go play in another circle.
Actually when you dig into this, we are not increasing dramatically. We are bonding for 10 years. With today's very low interest rates this would put payments at that 4.6MM per year area. We typically spend several million a year on improvements, so you would basically be saying we won't do anything more for 10 years.
Also, when we get donations, large sums that is, they go into the endowment and we use interest income to pay off things. So if push came to shove, we would just have to write a check out of the endowment to pay off any leftovers.
Far from rocket science and far from over-extending ourselves.
Also, when we get donations, large sums that is, they go into the endowment and we use interest income to pay off things. So if push came to shove, we would just have to write a check out of the endowment to pay off any leftovers.
Far from rocket science and far from over-extending ourselves.
Love how he points out only ISU, when im pretty sure 90% of NCAA teams do the same thing. You have to, to survive in college athletics today. Ill bet he pays cash for his cars, and home(s)... yeah right, guy is BIFF blowing smoke Up peoples butt to get some attention.
That's what businesses do - invest increased revenue streams in the business. And ISU has a lot of investing in assets (in this case, facilities) if it wants to be competitive with it's competition - that's what happens when your facilities are 30 years behind your competitors (blatant overexaggeration in some cases) because previous administrations during the 1980s and much of the 1990s decided it just wasn't worth it. Look where that left us - for every step forward our AD takes forward our competition is still 2-3 steps ahead of us.
Does anyone ever truly know that the money will be there? Is there such a thing as a 100% sure thing? No, these expenses are risks. Just like a vast majority of capital expenditures are.
Thankfully we have men smarter than Biffhammer deciding whether these risks are worth taking. ISU admins and the Board of Regents approved these expenditures. I am willing to trust their judgement over that of some internet blogger.
And rational people can agree to disagree.
Look at the comments in this thread and on his page now. People still think this money is a sure thing and it's most definitely not.
That's what bothers me. This conf crap can go either way. If the Big 12 implodes and Fox renegotiates and that money (that we don't have yet) is gone what are we going to do? Yes, I'm glad other people are making these decisions and not me.
If Biff were running things at ISU we would be playing football at Clyde Williams Field and basketball at the Old Armory. There would be no new campus buildings for education. We would only have Morrill Hall and the old Alumni Hall on Campus. No MWL or any student housing anywhere. No infrastructure at ISU and an enrollment of 1,500.
Biff lives in a van down by the river. He works as a Motivational Speaker.
Biff lives in a van down by the river. He works as a Motivational Speaker.
The new money was to get us up to that 16-17MM a year area. We used to get 7-8MM a year just the last couple years. This amount is the area of MTN west money now. PAC, big ten and sec are in that 20-25MM a year area. So when someone like the mtn west renegotiated tv deals, they will be in that 7-8 area. Like I said, when you spread this out, it not that excessive of expenditures.
Yes, we should. Boone built a stadium, UT spent $400M on new facilities in past few years, MO is on the move. In the Big 12, ALL the schools are borrowing on the future to build facilities. We are not special in our projects. Remember, two years ago we were one big happy family. When we go bankrupt, then we can freeze salaries, lay off people, stop building. Right now we are in an arms race.
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That's a valid point except UT is well, UT and basically prints money. OU has TBoone propping em up.
Let's focus on the Faithful Five for a second or even BU who stands to lose as much as we do in the alignment crap. To me that's what you point out in a rebuttal to his article. If the other 4 (five with us) are spending money the same way then what we're saying is ISU has to also (keep it's foot on the gas) to keep up in the league. It's not about being fiscally sound, it's about keeping up with your competition or getting buried by them.
Exactly. We have to go all-in, (nearly) bet the house to reach our aspirations and grow the program. Hell, growing a business is always more risky than standing pat. But the old adage is never more true: no risk, no reward. No risk assures our irrelevant status.
But rest assured, we have safety-nets. While it's always possible (but unlikely IMO) that we will take a step back, we will not implode and cease to exist. Students will still enroll to get an education, we will still have sports to cheer for.
