KnightBridgeAZ
Grand Canyon Knight
- Joined
- Aug 26, 2011
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I have been meaning to share 2 recent news bits from the University of Arizona, both of which were interesting insights into athletic departments, I thought.
- The financial person for Arizona athletic department recently retired, and the article indicated that he was in the "black" every year of his tenure. Exactly what a "profit" means is problematic, of course, depending on the way accounting is done, however, he indicated the only 2 "crises" he faced were the "bonus" to hire our MBB coach, Sean Miller, and the pay-outs when former head FB coach Mike Stoops got fired a few years ago (he was fired mid-season and the staff at the end of the season). Still, an accomplishment for an athletic department whose FB program is hardly a cash cow.
- A wealthy donor gave U of A a large investment that will be used to incent FB coach Rich Rod, MBB coach Sean Miller and AD Greg Byrne to stay at the school. They will receive something after 4 years and a fully vested amount after remaining 8 years (3 million for the AD, 6 million for each coach). And before anyone thinks "almighty athletics", the income for the first 3 years (about 3 million a year) goes to the University in general to be spent as the President of the University of Arizona, Ann Weaver Hart, decides. Very innovative, to my mind.
- The financial person for Arizona athletic department recently retired, and the article indicated that he was in the "black" every year of his tenure. Exactly what a "profit" means is problematic, of course, depending on the way accounting is done, however, he indicated the only 2 "crises" he faced were the "bonus" to hire our MBB coach, Sean Miller, and the pay-outs when former head FB coach Mike Stoops got fired a few years ago (he was fired mid-season and the staff at the end of the season). Still, an accomplishment for an athletic department whose FB program is hardly a cash cow.
- A wealthy donor gave U of A a large investment that will be used to incent FB coach Rich Rod, MBB coach Sean Miller and AD Greg Byrne to stay at the school. They will receive something after 4 years and a fully vested amount after remaining 8 years (3 million for the AD, 6 million for each coach). And before anyone thinks "almighty athletics", the income for the first 3 years (about 3 million a year) goes to the University in general to be spent as the President of the University of Arizona, Ann Weaver Hart, decides. Very innovative, to my mind.
