$6.25 million debt caused by Football at FAU

BOCA RATON — Florida Atlantic University’s Fighting Owls have racked up a $6.25 million debt that could force the athletic department to borrow from other school budgets and raise student fees.

FAU athletic budget loses big as football stalls in red zone

Executive Director Ann Paton said the foundation has given the athletic department an estimated $16.3 million since 1998. Not included in that figure is a $4.5 million interest-free loan, Paton said.

“The foundation was very supportive of the football team when it first started,” Paton said. “We loaned them money with the idea that, at some point, it would be repaid. They are not in a position to begin to pay us back just yet.”

Paton also told trustees that it is difficult to ask potential donors for money that is going to cover a deficit.

It is unclear how the department’s budget problems could affect the football team’s move to Division 1-A, if at all. The team is entering its second year of a two-year transition to 1-A status but may not know its fate until the NCAA management council meets in April.

FAU and a handful of other 1-A hopefuls did not meet the home-attendance requirement of 15,000 a game during their first year. School officials hope the council changes that rule.

The athletic department had estimated it would earn $471,500 from ticket sales this year but has brought in just $282,045.

“This is painful to listen to,” Athletic Director Craig Angelos said at the meeting. “The business model on football was flawed from the beginning. As we birthed this baby called football, it started racking up debt.”

Angelos, Brogan and other school officials are working on a plan to pull the athletic department out of its hole.

Trustee Chairwoman Plymale said she doesn’t want the plan based solely on an increase in student fees, and financial affairs Vice President Jessell said no more can be borrowed from the auxiliary budget.

“In the past, the answer has always been, ‘Go out and raise more money.’ We need to do more than that,” Angelos said.

Trustee Norman Tripp agreed, making a firm demand that an adequate plan to balance the budget be presented soon.

“This is a big problem,” Tripp said. “Everyone needs to go out there and do better.”


Reason not to rush into it when we already can’t fund current scholarships. For us, I like the idea of DI-AA at minimum cost (if that’s possible)…in order to better connect students/alums with the University.

[b]...fund-raising efforts that have brought in just $179,085 of the $2.1 million expected in private donations this year.[/b]
Who dropped that ball?
[b]FAU and a handful of other 1-A hopefuls did not meet the home-attendance requirement of 15,000 a game during their first year. School officials hope the council changes that rule.

The athletic department had estimated it would earn $471,500 from ticket sales this year but has brought in just $282,045.

“This is painful to listen to,” Athletic Director Craig Angelos said at the meeting. “The business model on football was flawed from the beginning. As we birthed this baby called football, it started racking up debt.”[/b]


Can Charlotte average 15,000 fans at home in football?

In looking at the article they really did it the wrong way. Looks like they used a bunch of money from the atheletic foundation and didn’t fund raise as they should have.

We don’t rush football, but we need to start the process now.

On a another note, how does Fl. Atlantic have 16+ mil to throw at football and we don’t? :blink:

[i]Originally posted by HP49er[/i]@Feb 10 2005, 02:01 PM [b]
[b]...fund-raising efforts that have brought in just $179,085 of the $2.1 million expected in private donations this year.[/b]
Who dropped that ball?
[b]FAU and a handful of other 1-A hopefuls did not meet the home-attendance requirement of 15,000 a game during their first year. School officials hope the council changes that rule.

The athletic department had estimated it would earn $471,500 from ticket sales this year but has brought in just $282,045.

“This is painful to listen to,” Athletic Director Craig Angelos said at the meeting. “The business model on football was flawed from the beginning. As we birthed this baby called football, it started racking up debt.”[/b]


Can Charlotte average 15,000 fans at home in football? [/b]

That’s for I-A ball, though. Honestly, I hope we get football, but that we stay in Div. I-AA. I’d rather be a I-AA powerhouse (a la Georgia Southern, Youngstown State) than to be someone’s bitch in I-A (which is what will happen if we go “all the way”).

HollyW,

You got it right.

Love your avatar!!!

I want to be 1A powerhouse eventually, 30-40 yrs from now, but D 1AA powerhouse is a better strategy for the next 15-20 years. If we go directly D1A, it will be at least a decade till we can compete anywhere half as good as we do in basketball. Plus, in 1AA we can win and winning in the lower level will bring more support than losing with the big boys. I don’t want to be D2 though. I think ECU is D2.

[i]Originally posted by lutz9er[/i]@Feb 10 2005, 03:33 PM [b] I don't want to be D2 though. I think ECU is D2. [/b]
ECU plays football in C-USA. Conference USA is a Division I non-BCS league.

Plus, Davidson is I-AA…and we gotta have SOMEONE to whoop up on :smiley: B)

[i]Originally posted by MKNiner[/i]@Feb 10 2005, 02:08 PM [b] In looking at the article they really did it the wrong way. Looks like they used a bunch of money from the atheletic foundation and didn't fund raise as they should have.

We don’t rush football, but we need to start the process now.

On a another note, how does Fl. Atlantic have 16+ mil to throw at football and we don’t? :blink: [/b]


exactly— start the process now. Make some form of progress. And keep the public updated instead of treating it like a giant secret.

Judy has said (and this is the wrong approach) that we won’t have football until it can be “done right at the 1A level”…which is code for “football will never happen because those kind of bucks are fairy tale”

screw that. Lets try to be a great 1AA team. Give the kids a reason to stay on campus. Give us alums a reason to go party and tailgate, create school pride. Expand Belk track, join the A10 or Southern Conf in football.

btw, those of you unfamiliar with FAMU, its 2 blocks from FSU, that is a tought sell.

^^^
FAMU != FAU.

FL A&M is in Tallahassee. FAU, who is coached by old schooler Howard Schnellenberger no less, is down in Boca Raton.

Just fyi…

[i]Originally posted by HP49er[/i]@Feb 10 2005, 02:01 PM [b] Can Charlotte [u]average[/u] 15,000 fans at home in football? [/b]
I would like to think so. UAB, USF, Houston, and many other teams in our own conference average over 15k and average a lot less than us in basketball.
[i]Originally posted by LeftyNiner[/i]@Feb 10 2005, 02:55 PM [b] "This is painful to listen to," Athletic Director Craig Angelos said at the meeting. "The business model on football was flawed from the beginning." [/b]
This, and the fact that it was DivIA instead of AA, might explain it best.
[i]Originally posted by HP49er+Feb 10 2005, 03:39 PM-->
[b]QUOTE[/b] (HP49er @ Feb 10 2005, 03:39 PM)

And we can’t wait for you to transfer.

Anyway u have to give props to ECU for their average football attendence of about 40K with their record… Skip Holtz will turn it around

All I have to say is 20,000 students and growing and not even a PLAN for a Football team? You’ve got to be kidding me. Let’s get an AD in here with a vision for this University.

[i]Originally posted by mineshaft[/i]@Feb 11 2005, 12:10 PM [b] All I have to say is 20,000 students and growing and not even a PLAN for a Football team? You've got to be kidding me. Let's get an AD in here with a vision for this University. [/b]
I think (or hope rather) the new Chancellor might be more open to the idea than the current one is.

[QUOTE=LeftyNiner;101154]Reason not to rush into it when we already can’t fund current scholarships. For us, I like the idea of DI-AA at minimum cost (if that’s possible)…in order to better connect students/alums with the University.[/QUOTE]

My stance all along.

BOCA RATON — Florida Atlantic University's Fighting Owls have racked up a $6.25 million debt that could force the athletic department to borrow from other school budgets and raise student fees.

FAU athletic budget loses big as football stalls in red zone

Executive Director Ann Paton said the foundation has given the athletic department an estimated $16.3 million since 1998. Not included in that figure is a $4.5 million interest-free loan, Paton said.

“The foundation was very supportive of the football team when it first started,” Paton said. “We loaned them money with the idea that, at some point, it would be repaid. They are not in a position to begin to pay us back just yet.”

Paton also told trustees that it is difficult to ask potential donors for money that is going to cover a deficit.

It is unclear how the department’s budget problems could affect the football team’s move to Division 1-A, if at all. The team is entering its second year of a two-year transition to 1-A status but may not know its fate until the NCAA management council meets in April.

FAU and a handful of other 1-A hopefuls did not meet the home-attendance requirement of 15,000 a game during their first year. School officials hope the council changes that rule.

The athletic department had estimated it would earn $471,500 from ticket sales this year but has brought in just $282,045.

“This is painful to listen to,” Athletic Director Craig Angelos said at the meeting. “The business model on football was flawed from the beginning. As we birthed this baby called football, it started racking up debt.”

Angelos, Brogan and other school officials are working on a plan to pull the athletic department out of its hole.

Trustee Chairwoman Plymale said she doesn’t want the plan based solely on an increase in student fees, and financial affairs Vice President Jessell said no more can be borrowed from the auxiliary budget.

“In the past, the answer has always been, ‘Go out and raise more money.’ We need to do more than that,” Angelos said.

Trustee Norman Tripp agreed, making a firm demand that an adequate plan to balance the budget be presented soon.

“This is a big problem,” Tripp said. “Everyone needs to go out there and do better.”


Reason not to rush into it when we already can’t fund current scholarships. For us, I like the idea of DI-AA at minimum cost (if that’s possible)…in order to better connect students/alums with the University.

they won their first bowl game last night :49ers:

My stance all along.

BS. You were anti football, and if CUSA-talk were still online, I’d stick your nose in it. You used to want no part of it in fear it would damage your holy grail basketball team. You have jumped on the bandwagon, and thats cool. :smile: