CAL Athletics in Dire straits

[Gorm]

http://deadspin.com/the-desperate-future-of-cal-athletics-is-here-1797944572/amp

Many Pac-12 schools are in similar situations. Although CAL is in DEEP. Per the article they owe 18 million a year until 2113. And that is JUST the interest payments.

 

[ArgentCy]

OMG 100 years of interest ONLY payments. HAHAHAHA California is SOOO broke. That makes the liar loans of recent residential mortgages look like child's play.

But they are located in Berkely so that went about as I would expect.

 

[Gonzo]

http://deadspin.com/the-desperate-future-of-cal-athletics-is-here-1797944572/amp

Many Pac-12 schools are in similar situations. Although CAL is in DEEP. Per the article they owe 18 million a year until 2113. And that is JUST the interest payments.

Cal has an endowment of over $4 billion. I know allocating those funds is very tricky business but I'd think that could help dramatically soften the blow before imploding their athletic department.

 

[Knownothing]

That stadium with those payments is going to cost them over 2 billion dollars. WTH. Seriously realize how good Jamie Pollard actually is. Our stadium is just as good. Our basketball arena is better. The only thing they have more than Iowa State is Darius McNeil.

 

[ArgentCy]

Cal has an endowment of over $4 billion. I know allocating those funds is very tricky business but I'd think that could help dramatically soften the blow before imploding their athletic department.

They will have to because that debt payment is Never going to work.

 

[CyJeans]

That stadium with those payments is going to cost them over 2 billion dollars. WTH. Seriously realize how good Jamie Pollard actually is. Our stadium is just as good. Our basketball arena is better. The only thing they have more than Iowa State is Darius McNeil.

 

[BoxsterCy]

Money for nothin' and.............

Well, hell, you did say Dire Straits.

 

[CYCLNST8]

Money for nothin' and.............

Well,hell, you did say Dire Straits.

I'm more interested in chicks for free, personally.

 

[ArgentCy]

I think a big problem for them and the stadium, besides incompetence, was that it is built on a fault line. So if they have a big earthquake the entire area would likely be devastated but the pile of debt and the football stadium would still be standing. Congrats.

 

[cyclonedave25]

Jeez, California makes Illinois look rich.

 

[Knownothing]

No seeing what you put in. For some reason it didn't show up

 

[KnappShack]

OMG 100 years of interest ONLY payments. HAHAHAHA California is SOOO broke. That makes the liar loans of recent residential mortgages look like child's play.

But they are located in Berkely so that went about as I would expect.

I'm sure things are much better in Ottumwa....

 

[ArgentCy]

They don't have a ton of debt. And if worse comes to worse the Chicagoan's will go home.

 

[Sigmapolis]

Jeez, California makes Illinois look rich.

Funny how our richest states -- and California, New York, and Illinois are objectively very wealthy places -- are also our brokest ones, eh?

And evil, low-tax, fiscally conservative Texas keeps humming along and wasting most of its time on bathroom bills that will affect like five people?

Coming to a federal government near you soon.

 

[ArgentCy]

Borrowing money certainly makes people feel and act rich. Till the game ends. Then they need to find someone to blame so they can play the victim card.

 

[Knownothing]

Borrowing money certainly makes people feel and act rich. Till the game ends. Then they need to find someone to blame so they can play the victim card.

That is what our country is doing as a whole. Eventually we will go bankrupt. So California is not doing anything different than the United States and a ton of private folks.

 

[ribsnwhiskey]

Funny how our richest states -- and California, New York, and Illinois are objectively very wealthy places -- are also our brokest ones, eh?

And evil, low-tax, fiscally conservative Texas keeps humming along and wasting most of its time on bathroom bills that will affect like five people?

Coming to a federal government near you soon.

What? You know Cal is a university in the state of California, correct?

 

[weR138]

Cal has an endowment of over $4 billion. I know allocating those funds is very tricky business but I'd think that could help dramatically soften the blow before imploding their athletic department.

Gotta believe the faculty at Cal (and probably most of the admin) would go bananas if a bunch of endowment money went to the football stadium. Would be fun to watch though.

 

[Incyte]

It'll be interesting to see things unfold as they move to big12 membership.

 

[Sigmapolis]

What? You know Cal is a university in the state of California, correct?

Absolutely. I find it ironic that our richest, high-tax states are often the ones with their fiscal house the least in order. It should be the opposite, no?