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"We aint got no money "

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JD08 said:
Nope, make the check big enough, then publicly state you'll only give it to the university when they replace Blake.

And insist the handoff takes place at a bowling alley.
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Had not considered that approach.

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Looking at things from 10000 feet can always be lazy but sometimes it can also paint enough of a broad picture to at least dispel some even lazier notions and narratives.

At the end of the day, Baga has 20000 more students than Miami. At the end of the same day, out endowment is over $200 million MORE than Baga's.

The issue has NEVER been about HAVING money but about HOW you want to allocate it. I also say this as a very strong proponent that a lion share of our issues aren't even necessarily money related but competence based.

A quality AD could've EASILY succeeded here with the amount of resources Flake has had and has squandered and that's not even addressing all the wasted buyout/extension money that went down under Shalala and the clowns that preceeded Flake.
 
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Tad Footeball said:
Looking at things from 10000 feet can always be lazy but sometimes it can also paint enough of a broad picture to at least dispel some even lazier notions and narratives.

At the end of the day, Baga has 20000 more students than Miami. At the end of the same day, out endowment is over $200 million MORE than Baga's.

The issue has NEVER been about HAVING money but about HOW you want to allocate it. I also say this as a very strong proponent that a lion share of our issues aren't even necessarily money related but competence based.

A quality AD could've EASILY succeeded here with the amount of resources Flake has had and has squandered and that's not even addressing all the wasted buyout/extension money that went down under Shalala and the clowns that preceeded Flake.
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Very fair points. However, in the grand scheme of "endowment funds", it would not take long for a state school with a dominant football team to make up the $200 million deficit over a small private school that is ****ing off potential donors. I'll bet the diff between Alabama and Miami USED TO BE bigger than $200M. Even the Alabama president said that Saban was the best investment they ever made.
 
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hoops156 said:
maybe the AD?, but I bet boosters pay for most of the ****. remember, broke *** FSU had the boosters pay the willie buyout
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I think there was a poster in here that lives in La.
He said the school is way into the red and only spends money on football.
 
TheOriginalCane said:
1. You are citing a Ped State writer as a source.
2. "Cooked its books" is both false and downright slanderous. By the Ped State writer, of course.
3. I am not going to go into the details of non-profit accounting (and there is a fantastic expert on this site who can), but I do find it amusing that the assumption involves manipulation of revenues rather than expenses.
4. The ranking puts us at #29 (by revenue). Do we actually think we were higher, but for the fact that we "cooked the books" to decrease revenue? Doesn't seem to be supported by logic or reality.
5. I find it hard to believe that RSM McGladrey (at least that's who it was in 2019) allowed any "cooking of the books". That's a no-no in large accounting firms. And the point of an audit is to test those results. Which the large accounting firms are VERY good at.
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Now you are reaching.

1. Pennlive is the website for the The Patriot-News, a Pennysylvania newspaper that was first published in 1854.
2. The author, David Jones, is a sports columnist and the newspaper's beatwriter for Penn State. He is not a Penn State grad (he's a Buckeye)
3. The word you are looking for is libelous since it is written. In any case, you would have to believe that one of the largest newspapers in Pennsylvania would knowingly allow their sports columnist to defame multiple universities (he says two other universities appear to have cooked their books as well) and risk a huge lawsuit, if he didn't a valid reason to believe the books are cooked. If you really think he committed libel against the university, call the school's legal department and tell them to sue- should be easy money.
4. It is obvious the books are cooked. The chances that revenue and expenses at the end of the year exactly equal zero, are well, zero. It's such a statistical improbability that is obvious the school fudged numbers so the revenues and expenses are exactly equal.
5. The EADA reporting requirements are not the same as the reporting requirements for the IRS. You won't find those numbers anywhere because UM is a private university and is not legally required to make that information publicly available. It's not a Title IX audit.


"Because the athletic department revenues and expenses often represent variables of interest to researchers relying on these data, these merit special attention in this discussion. Perhaps the most important fact about these data, of which researchers interested in financial analysis should be aware, is that the EADA survey is not an accounting report. For purposes of this survey, reported revenues must always equal or exceed reported expenses, otherwise the survey cannot be finalized, or “locked out” in the system."

To simplify, the school CANNOT, under under any circumstances, show revenues are less than expenses even if that is 100% true (school could be tens of millions in the red, but for purposes of the EADA report, they must show revenue are at least equal to expenses.). If revenues were in fact higher then expenses, it would not benefit the school to reflect that fact because then everyone would yell, "You reported on the EADA a $20 million net, how dare you say you can't afford better coaches."
 
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Butch went to the NFL so no buyout required...Coker, Shannon & Golden's buyouts were chump change...Richt quit so no buyout required...so if Diaz is fired He'd be the only coach out of the last 5 that we'd have to pay a "substantial" buyout for...yeah, Miami has money to hire an elite HC & staff...P...E...R...I...O...D...!...!...!
 
CaneSince4Ever said:
Butch went to the NFL so no buyout required...Coker, Shannon & Golden's buyouts were chump change...Richt quit so no buyout required...so if Diaz is fired He'd be the only coach out of the last 5 that we'd have to pay a "substantial" buyout for...yeah, Miami has money to hire an elite HC & staff...P...E...R...I...O...D...!...!...!
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didn't we get sued by randy and al for not paying buyouts lol?
 
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TimeBum said:
Now you are reaching.

1. Pennlive is the website for the The Patriot-News, a Pennysylvania newspaper that was first published in 1854.
2. The author, David Jones, is a sports columnist and the newspaper's beatwriter for Penn State. He is not a Penn State grad (he's a Buckeye)
3. The word you are looking for is libelous since it is written. In any case, you would have to believe that one of the largest newspapers in Pennsylvania would knowingly allow their sports columnist to defame multiple universities (he says two other universities appear to have cooked their books as well) and risk a huge lawsuit, if he didn't a valid reason to believe the books are cooked. If you really think he committed libel against the university, call the school's legal department and tell them to sue- should be easy money.
4. It is obvious the books are cooked. The chances that revenue and expenses at the end of the year exactly equal zero, are well, zero. It's such a statistical improbability that is obvious the school fudged numbers so the revenues and expenses are exactly equal.
5. The EADA reporting requirements are not the same as the reporting requirements for the IRS. You won't find those numbers anywhere because UM is a private university and is not legally required to make that information publicly available. It's not a Title IX audit.


"Because the athletic department revenues and expenses often represent variables of interest to researchers relying on these data, these merit special attention in this discussion. Perhaps the most important fact about these data, of which researchers interested in financial analysis should be aware, is that the EADA survey is not an accounting report. For purposes of this survey, reported revenues must always equal or exceed reported expenses, otherwise the survey cannot be finalized, or “locked out” in the system."
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1. Thanks for the biographical info on the newspaper, which I never mentioned.
2. I never said the author was a Ped State grad. I said he was the Ped State writer. Which, again, is accurate.
3. Thanks for the condescending lesson on libel vs. slander. It's as if I never got that A in Dignitary Torts. I should go yell at Katie Sowle. At any rate, I usually use the word "slander" with non-attorneys because it is a more familiar and well-known term. Plus, this: "Libel and slander are now treated alike and the same rules apply to a defamatory statement regardless of whether the statement is written or oral." But, hey, thanks for acting as if there was any sort of meaningful difference upon which you should lecture me. As for defamation, whether it is written or oral, you clearly don't know the elements of the tort, and I highly doubt that some ****-ant writer from some ****e-bag newspaper (hey, first published in 1854!!!) has caused Miami any damages.
4. Obvious. Sure. You should contact the school's legal department and get them to sue RSM McGladrey. But, hey, this intrepid reporter has obviously discovered MULTIPLE instances of "book-cooking", so it MUUUUST be true. Again, you fail to address why you feel that "revenue" was the "cooked" number, you were too busy getting huffy and lecturing me on "slander vs. libel".
5. I said nothing about a "requirement" to publicize the numbers, but the numbers have, indeed, been publicized. If you feel that UM has publicized fake numbers, again, you should contact the university's legal counsel.

Oh, but I see you are whining NOT about financial statements, but about an "EADA survey". Even more amusing, is the fact that you cut-and-pasted the following:

"For purposes of this survey, reported revenues must always equal or exceed reported expenses, otherwise the survey cannot be finalized, or “locked out” in the system."

So, to sum up, it is possible for revenue and expense to be EQUAL, even though you claimed that this was statistically impossible. Oh, but what about a situation where Expenses EXCEED Revenue? Thus, the "survey cannot be finalized" or "locked out in the system". Now, I'm not a math expert (I am), but is it POSSSSSIBLE that Miami reduced the Expenses to EQUAL Revenue, so that the report could be submitted?

Ohhhh...guess you didn't think of THAT one. But, sure, the "books are cooked".

Thanks for handing me the cut-paste evidence to hoist you by your own petard.
 
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TheOriginalCane said:
Very fair points. However, in the grand scheme of "endowment funds", it would not take long for a state school with a dominant football team to make up the $200 million deficit over a small private school that is ****ing off potential donors. I'll bet the diff between Alabama and Miami USED TO BE bigger than $200M. Even the Alabama president said that Saban was the best investment they ever made.
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Absolutely. I just think in the grand scheme of things when you're talking schools with endowments north of a billion dollars (especially smaller schools) that the choice around athletics is almost always allotment as opposed to availability of funds and how much the administration thinks/understands the RoI on big time football- as illustrated by Baga's comments about Sabag being the best investment ever.
 
CaneSince4Ever said:
Butch went to the NFL so no buyout required...Coker, Shannon & Golden's buyouts were chump change...Richt quit so no buyout required...so if Diaz is fired He'd be the only coach out of the last 5 that we'd have to pay a "substantial" buyout for...yeah, Miami has money to hire an elite HC & staff...P...E...R...I...O...D...!...!...!
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His buyout won’t equal one years salary and will barley exceed what they paid temple for giving him back to us. Talk about negligence
 
Tad Footeball said:
Absolutely. I just think in the grand scheme of things when you're talking schools with endowments north of a billion dollars (especially smaller schools) that the choice around athletics is almost always allotment as opposed to availability of funds and how much the administration thinks/understands the RoI on big time football- as illustrated by Baga's comments about Sabag being the best investment ever.
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I completely agree.

I just think that UM has, for far too long, been stuck in old-style thinking. Trustees who can't look at the world around them and acknowledge that things have changed. And that Miami has to change too.
 
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