Big college football and athletics in general means big money, big success and overall better education, right? Well, it’s not really looking that way. Strangely, as emotions and finance goes, there is not a lot of logic or common sense floating around today regarding college athletics.
Recent reports show as many as 120 higher division athletics programs have put taxpayers on the hook for paying for multi-million dollar renovations, stadiums and facilities over the last few years. During a time where money is tight.
Not surprisingly, most of these programs can’t turn a profit on their athletics. With an average expenditure of $40 million to maintain their sports programs, huge bonds, increasing cost of tuition and vicious cuts in funding, schools are putting themselves in a hole that could take decades to climb out and for what?
Small to medium sized schools are swallowing up hundreds of millions of dollars in hopes to keep up with large state athletics departments 10-20 times their size. State programs are now spending into the billions to create facilities that will compete with professional teams. While some of these make strategic sense, most are relying heavily on favorable numbers to even out or are swallowing up years of budgeting to pay off.
The University of Washington had hoped to follow the same route that other universities had with their reliance on public funding, but thankfully the $450 million renovation plan, ran into stiff opposition in the state senate. “We were cutting billions of dollars out of our budget, and we are going to build a stadium. Really?” says Hunter, chairman of the House Ways and Means Committee. “I was OK with saying No.”
After going back to the drawing board, U.W. released plans to upgrade its 92 year old stadium in a more efficient and cost effective way. While still leaning heavily on tax incentives and state powered municipal bonds, $200 million to be exact, it promotes a more rational and realistic approach to the necessary renovations. It has also utilized a more effect purchasing and funding system to reduce delays and costs.
Down from $450 million, the plan is now estimated at $250 million. Along with the mandatory upgrades needed to the structures earthquake resistance, handicap accessibility, and safety equipment, such as sidewalks and hand rails, there will be key renovations that will directly increase revenue. 30 new luxury seating sections, 65 patio suites, 2,500 club seats and a 200 car parking garage.
The student section which used to consist of front row endzone to 30 yard line seats has been moved to behind the endzone. Seats that were reserved to students at a cost of roughly $130 a year can now be sold to the public for 10 times the price. As a compromise, student seating has been reduced to just $99 dollars a season. Also select season pass tickets will only be available to university donors. Not only will new seating drive in higher ticket sales but will also increase the charitable gifts the school receives.
It’s not just finances that helps U.W. stay on top of the national athletics heap. The university that houses more than 42,000 students is also able to maintain 21 sports teams on a budget of $70 million with zero student athletic fees. The program also boasts an 81% graduation rate among its athletes, third highest in the nation. Way to go Dawgs.