Howdy, Stranger!

It looks like you're new here. Sign in or register to get started.

Welcome to the Hardcore Husky Forums. Folks who are well-known in Cyberland and not that dumb.

But When Did Dannen Know KDB Wasn’t Coming Back?

13»

Comments

  • FireTheJanitorFireTheJanitor Member Posts: 1,483
    edited January 2024
    pawz said:

    So obviously I was WAY off on the $30m number. That said poont still stands. This budget is showing $4m in red ink. Then add the stadium principal debt payments that start this year in excess of 8-figures.

    It's not looking good.

    Pretty sure we’re close to an upper campus announcement on the stadium debt that would clear a lot of that issue up.

    Other favorable factors for 2023/24 numbers:

    $12M from Bama
    Strong ticket sales in ‘23
    UW has probably never sold more apparel via its licensing agreements than it did in ‘23
    A lot of the Lake buyout goes away, if not all (too lazy to look further)
    You’re paying Fisch ~$2M less than you would have paid KDB too
  • HouhuskyHouhusky Member Posts: 5,537
    pawz said:

    So obviously I was WAY off on the $30m number. That said poont still stands. This budget is showing $4m in red ink. Then add the stadium principal debt payments that start this year in excess of 8-figures.

    It's not looking good.

    Meh... 4 million doesn't seem like much if you are churning 140+ million a year. Also who knows what is really going on when you have serviced debt, deferments, deductions, and depreciation tricks all going towards reducing possible tax burdens. Also a new conference and new media deals all in a few months.
  • YellowSnowYellowSnow Moderator, Swaye's Wigwam Posts: 36,944 Founders Club
    pawz said:

    So obviously I was WAY off on the $30m number. That said poont still stands. This budget is showing $4m in red ink. Then add the stadium principal debt payments that start this year in excess of 8-figures.

    It's not looking good.

    Sounds like we can borrow against the future (TITTT) a bit with B1G money so the media share will probably go up in future year a bit. But sure would be nice to have gone in at a full share.
  • UWhuskytskeetUWhuskytskeet Member Posts: 7,113

    Pretty sure we’re close to an upper campus announcement on the stadium debt that would clear a lot of that issue up.

    Other favorable factors for 2023/24 numbers:

    $12M from Bama
    Strong ticket sales in ‘23
    UW has probably never sold more apparel via its licensing agreements than it did in ‘23
    A lot of the Lake buyout goes away, if not all (too lazy to look further)
    You’re paying Fisch ~$2M less than you would have paid KDB too
    UW averaged 6k more fans a game in 2023 vs 2022. That alone more than makes up $4M.
  • HouhuskyHouhusky Member Posts: 5,537

    Pretty sure we’re close to an upper campus announcement on the stadium debt that would clear a lot of that issue up.

    Other favorable factors for 2023/24 numbers:

    $12M from Bama
    Strong ticket sales in ‘23
    UW has probably never sold more apparel via its licensing agreements than it did in ‘23
    A lot of the Lake buyout goes away, if not all (too lazy to look further)
    You’re paying Fisch ~$2M less than you would have paid KDB too
    I THINK Jimmy Lake had a ~$3 mil a year 5 year contract fully guaranteed through the 2024 season... so this will be the last year he is getting that ~3 million

    unless they negotiated something different quietly, instead of the whole fired with cause for brutally beating a helpless child on the 50 in the middle of a game...
  • YellowSnowYellowSnow Moderator, Swaye's Wigwam Posts: 36,944 Founders Club

    Pretty sure we’re close to an upper campus announcement on the stadium debt that would clear a lot of that issue up.

    Other favorable factors for 2023/24 numbers:

    $12M from Bama
    Strong ticket sales in ‘23
    UW has probably never sold more apparel via its licensing agreements than it did in ‘23
    A lot of the Lake buyout goes away, if not all (too lazy to look further)
    You’re paying Fisch ~$2M less than you would have paid KDB too
    So riddle me this @FireTheJanitor and the rest of the crew...

    Clearly, Universities like UW, care enough still about football as the "front porch" to have to deal with all the bullshit of professional college football. And if UW as an institution wants to keep being in the pro sports bidness, why can't they chip in a few bucks to keep the AD from going under as it relates to paying for a "public" asset like Husky Stadium.
  • biak1biak1 Member Posts: 4,237
    The severance payments clocking in at $17 million ouch.
  • UW_Doog_BotUW_Doog_Bot Member, Swaye's Wigwam Posts: 17,316 Swaye's Wigwam

    UW averaged 6k more fans a game in 2023 vs 2022. That alone more than makes up $4M.
    There's windfall as well from the Sugar and the NC though idk how that gets parsed with the PAC 2 deal.
  • TequillaTequilla Member Posts: 20,012
    pawz said:

    So obviously I was WAY off on the $30m number. That said poont still stands. This budget is showing $4m in red ink. Then add the stadium principal debt payments that start this year in excess of 8-figures.

    It's not looking good.

    The severance payment number is pure insanity

    I'd be willing to bet that there is fat in that administrative number

    There's definitely areas to streamline the expenses

    But what the numbers highlight is that growing revenues was a paramount concern and why staying in the PAC wasn't an option
  • TequillaTequilla Member Posts: 20,012

    Sounds like we can borrow against the future (TITTT) a bit with B1G money so the media share will probably go up in future year a bit. But sure would be nice to have gone in at a full share.
    I believe the number if $10M per year against future numbers in the next window when we're full share members

    My understanding is that we've already elected to do so
  • GreenRiverGatorzGreenRiverGatorz Member Posts: 10,165
    pawz said:

    So obviously I was WAY off on the $30m number. That said poont still stands. This budget is showing $4m in red ink. Then add the stadium principal debt payments that start this year in excess of 8-figures.

    It's not looking good.

    Uh, the point doesn't stand. Debt financing being 40% of your AD budget is a much different story than it being 8%. You're right that the payment increases to $17.7m once principal repayment kicks in, but we're only talking 11-12% of the budget at that time. And that proportion will of course continue to shrink once the real B1G dollars start coming in.

    The stadium debt really isn't that remarkable, and is par for the course for any non-pro sports team that can't use relocation as a tool to extort state dollars to pay for the whole thing. People are too hung up on the whole covid finances setback. Sure, it was a kick in the balls, but as Wayne said, you have to skate where the puck is going. And in about six years we'll be doubling our TV revenue and operating well into the black if we so choose.

    A lot can happen in six years, but the department is pretty well positioned.
  • thechatchthechatch Member Posts: 6,851

    I think our BCP AMC is about to announce just that. Been a lot of rumblings that they are going to take on stadium debt in some capacity. I haven’t been working the donut table at the Bellevue AIDS Foundation breakfasts like @thechatch so wouldn’t claim to have more specific insight into the details.
    They were chocolate croissants…not doughnuts.
  • EwaDawgEwaDawg Member Posts: 4,307
    pawz said:

    So obviously I was WAY off on the $30m number. That said poont still stands. This budget is showing $4m in red ink. Then add the stadium principal debt payments that start this year in excess of 8-figures.

    It's not looking good.

    It includes $13 million in debt service and other related costs. Though yes, the increase (balloon) can't be ignored.
Sign In or Register to comment.