Forbes Article - U of Iowa in deep financial trouble
- Thread starter craptacular9
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That, combined with them having to endure watching the Cyclones win the Big 12 and make it into the playoffs. Hok fans are already getting their asterisks ready to describe our upcoming success.
You really think that light will come on for most of the Hokkk fans?
Bartas next phone call
Barta, “Hello, I was wanting to raise the credit limit for the Iowa athletic department.”
Visa, “No problem Gary, we can move that 10k limit to 20k no trouble, does that sound sufficient?”
Barta,” can we go a little higher, like maybe 80 million?”
Better not be. This would cause me to riot, and burn up a used car lot.
I think that's the normal way is to issue bonds through the regents. But I believe that the PAC12 was going to issues loans to universities so maybe the Big10 will do the same? I don't know how or why the conferences would have that much in reserves to be able to do that, but who knows?
JP said in his letter that the University is not allowed to borrow money to cover operating expenses. How would Iowa be able to justify doing this when JP says ISU is not allowed to borrow for operating losses.
The solution that might work is the conference borrowing money on future broadcast rights revenues and treat it as a line of credit for individual schools, the problem is there are only a few years left on the agreements, and are we sure there will be football and basketball in 2021-2022?
The solution that might work is the conference borrowing money on future broadcast rights revenues and treat it as a line of credit for individual schools, the problem is there are only a few years left on the agreements, and are we sure there will be football and basketball in 2021-2022?
Agree 100%. I see Barta going to the Saudis and hocking (no pun intended) the stadium for a big loan.
Why would it grow when interest rates are low or decrease? True debt service coverage ratios = EBITDA÷ P&I will go up when interest rates decrease. Debt÷EBITDA (debt leverage ratio)will go up when you borrow more.
They've made it a point to say the won't get rid of wrestling and I don't think they will but their wrestling program and HWC are in serious trouble financially
Maybe. Iowa has a habit of not paying contractors, though...so I'm not sure how much would be saved.
Edit: DSMCy was waaaaay ahead of me.
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Pat Forde's column - not a good look for Gary Barta...
"On Monday, when Barta had a media zoom call to gloss right past the eliminated sports and move on to discussing football, he declared Friday “one of the most difficult days of my career.” Sounded good, but how difficult did he really make it for himself?
"According to athletes who were in the room for the announcement, Barta’s role lasted about two minutes. He spoke and then fled, leaving the details to his staff and the tears to the athletes.
"What a leader. What accountability. What a wreck of a room Barta left behind."
www.si.com
"On Monday, when Barta had a media zoom call to gloss right past the eliminated sports and move on to discussing football, he declared Friday “one of the most difficult days of my career.” Sounded good, but how difficult did he really make it for himself?
"According to athletes who were in the room for the announcement, Barta’s role lasted about two minutes. He spoke and then fled, leaving the details to his staff and the tears to the athletes.
"What a leader. What accountability. What a wreck of a room Barta left behind."
Iowa Sports Cuts Show Cruel Side of College Athletics
College sports has been big business for decades, but Iowa's handling of the eliminations left a lot to be desired.
www.si.com
Meanwhile in JP’s officePat Forde's column - not a good look for Gary Barta...
"On Monday, when Barta had a media zoom call to gloss right past the eliminated sports and move on to discussing football, he declared Friday “one of the most difficult days of my career.” Sounded good, but how difficult did he really make it for himself?
"According to athletes who were in the room for the announcement, Barta’s role lasted about two minutes. He spoke and then fled, leaving the details to his staff and the tears to the athletes.
"What a leader. What accountability. What a wreck of a room Barta left behind."
Iowa Sports Cuts Show Cruel Side of College Athletics
College sports has been big business for decades, but Iowa's handling of the eliminations left a lot to be desired.
As I understand the legal structure, each Regents University is a separate legal entity managed and controlled by the board of regents. The board of regents technically don't borrow money. The legal entity for each university is directly on the hook through bond financing.
