View Single Post
Old 05-10-2012, 07:22 AM   #121
Logan
Head Coach
 
Join Date: Oct 2000
Location: NYC
Quote:
Originally Posted by JPhillips View Post
You said that the stadium is an asset for the university above and beyond what it will generate on gamedays, and, therefore, you can't count the construction costs and debt service as a complete negative.

I don't think the stadium will have much of any use besides football and nobody will ever buy it, so it isn't an asset of any value beyond what it brings in on gamedays.

First of all, the stadium does have use beyond gamedays. It's used for high school playoffs, training camps, etc which bring in additional revenue...lower than could be achieved if the school wanted to since they don't charge any of those local high schools to play there. They've been approached by bands who want to have outdoor concerts in venues smaller than Giants Stadium/MetLife...it hasn't happened yet because of fighting between the school and the surrounding townships because of traffic concerns.

More importantly, do you have any idea what makes up a university's assets? Who's buying a lecture hall? A computer lab? They are money pits that don't bring in any additional revenue, but are vital to a college serving its students. Assets are funded by capital at universities just like in any other business.

Again, the deficit to the athletic department isn't being caused by the football program. Eliminate all those money-losing sports and the problem is solved. But they don't want to do that because, just like above, all those other sports are part of the overall "college experience" and have a value to the students.
Logan is offline   Reply With Quote