Scared money don't make money
- Thread starter Son_of_34
- Start date
How did it cost more than the men to run? That seems odd to me. I also am completely ignorant to what it takes to run either one.
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This reporting seems incomplete.
I’m not doubting the 3.2M, but why not investigate that number because it is a little shocking at first.
Maybe there are some buyouts and additional travel expenses. Why not break it down?
I’m not doubting the 3.2M, but why not investigate that number because it is a little shocking at first.
Maybe there are some buyouts and additional travel expenses. Why not break it down?
As a father of three girls, Women are more expensive than men across the board. This is actually a statistical fact. Men are more expensive when they hit that 55-60 age range with health problems.
If a woman in her 20s, 30s, and 40s is making the same amount of money at the same company with a health plan, they are actually paid more, on average.
The article really doesn't tell you the whole story, it only tells you that the women's revenue was $8M below the men but cost were $3.2 M higher. So the question is what was the true bottom line for each sport?
??? This is a sports team not the Brady bunch household.
Just spitballing possibilities
- Wonder if the payouts from the women's tournament are less
- Wonder if certain costs are designated as women's sports to satisfy Title IX (disclaimer: I haven't read Title IX so I admit this may be BS)
- Wonder if the payouts from the women's tournament are less
- Wonder if certain costs are designated as women's sports to satisfy Title IX (disclaimer: I haven't read Title IX so I admit this may be BS)
This is baffling but let’s also note that Men’s Basketball lost money so it’s officially a club sport
Clarion Ledger trying to stir up the pot, the head women's coach at Univ of North MS already a few weeks into discovery over this issue and the preliminary findings she insinuated were the locals didn't want to support her
Mississippi State athletics 2023 fiscal year: Bulldogs' deficit exceeds $5 million
Despite a record revenue of more than $115 million, Mississippi State athletics reported a deficit exceeding $5 million in the 2023 fiscal year.
www.clarionledger.com
I don't think there's any way it actually cost more to run. Part of that may be one time expenses (maybe continued payments on buyouts to the former staff?), I guess maybe some women specific facility upgrades could have been done that were recognized in full rather than amortized? Outside of that, it's got to be a mistake or they are loading up costs on women's basketball for Title IX purposes.
ETC: I guess it's also possible things like team meals are comped for the men and have to be paid for for the women, but I would think in-kind contributions like that would be recognized as revenue with a matching expense, not just omitted altogether. But I can't imagine that type of thing being a significant amount of the $3M.
I think that's just garbage writing as the numbers don't add up. I think what they are trying to convey is that men's basketball would have lost $240k if it weren't for the distributions it lists. The author apparently has an axe to grind and views the distributions as something not "earned".
That's the only way that the statement towards the end ("Women’s basketball cost nearly $3.2 million more than the men, but the women’s team generated about $8 million less.") makes sense. If men really lost money while costing $3.2M less and making $8M more, then the women would have lost at least $11.2M.
If it's like any other entity with lots of money, you can make it look however you'd like to make it look within the flexibility of accounting rules. And if you aren't particularly scared of jail, you can do anything!
More scholarships for women than men, but men's coaching salaries are more.
When all this came up before, I saw a post on another board that suggested the women's teams stay at nicer hotels than the men. A cursory look at last year's schedule - the women went to South Dakota non-conference and had a longer stay in the NCAA Tournament.
They went to Puerto Rico for a week and Tampa for a long weekend, but that;'s not $3 million worth of travel.
When all this came up before, I saw a post on another board that suggested the women's teams stay at nicer hotels than the men. A cursory look at last year's schedule - the women went to South Dakota non-conference and had a longer stay in the NCAA Tournament.
They went to Puerto Rico for a week and Tampa for a long weekend, but that;'s not $3 million worth of travel.
If true, let’s move the accountants to the marketing department. We need some creativity over there
I've long thought that all athletic dept. financial reports are misleading at best. Do they include coaches salary supplements? What about NIL money? As others have posted, you can make it look however you want it to by how you allocate the revenues and expenses. If we truly spent $3.2M more on women's basketball, there's a lot of people who need to be fired.
State is an ag school, maybe they used some farmers accountants to do the books.**
#showingaloss
Rest of the story….
“The Clarion Ledger followed up numerous times with the MSU Athletic Department’s accounting group regarding one particular women’s basketball expenditure under Other Expenses that was simply titled ‘Redhead Settlement’. However, calls were not returned regarding this matter”
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