FSU - 12 million NIL budget
- Thread starter usc_nc
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First, we'd have to ask if that's really their budget. That seems very low for some of the numbers that have been thrown around.
Ohio St AD says they spend about $20 million.
https://www.foxsports.com/stories/c...tball-roster-cost-around-20-million-nil-money
Yes I would love to see the sources
I still question “if I was putting out millions for NIL for a not so good football team ; would I continue; will NIL be a bust when people do not see a ROI”
Ours is likely around $2-4mil, maybe.
All indications are that they broke the bank for Rattler because of his prior national attention with the car dealership contact, etc.
FSU Football is the equivalent of UK Basketball.
The load the coffers and run an experiment.
It worked out well last season until the bowl game when all of their money men scattered as they had no real commitment to the school.
Honestly, it's not a bad way to operate though if you have the funds.
It keeps things interesting.
All indications are that they broke the bank for Rattler because of his prior national attention with the car dealership contact, etc.
FSU Football is the equivalent of UK Basketball.
The load the coffers and run an experiment.
It worked out well last season until the bowl game when all of their money men scattered as they had no real commitment to the school.
Honestly, it's not a bad way to operate though if you have the funds.
It keeps things interesting.
Great article at ESPN.com today about SMU’s NIL approach. As many of you remember, SMU was hit with the Dealth Penalty for buying players. While it was illegal back then, it is now legal if structured with state and university guidelines.
SMU has now gotten into the game big-time with its ability to pay athletes hundreds of millions of dollars from its ultra-wealthy alums and boosters. We now know why SMU is willing to enter the ACC without taking any conference revenue for almost a decade — it will take in much more money via its alums and boosters. We can expect SMU to rule the conference soon. It can pay any price. NIL means “NOW IT’S LEGAL”
SMU has now gotten into the game big-time with its ability to pay athletes hundreds of millions of dollars from its ultra-wealthy alums and boosters. We now know why SMU is willing to enter the ACC without taking any conference revenue for almost a decade — it will take in much more money via its alums and boosters. We can expect SMU to rule the conference soon. It can pay any price. NIL means “NOW IT’S LEGAL”
You and a couple of others have been talking about NIL for awhile. And you are and have been right about our disadvantage. I just do not see that ever changing. So. I have adjusted my aim for our football program. No nc or even SEC championship. I just want Shane to make us a mid-tier SEC program. Competing with Vandy for "catfish" status is unacceptable.
The University will have a decision to make next season when they open the NIL compensation up directly to schools.
Do they want to participate in pay-to-play football at a high level?
Or do they want to do just enough to retain fan interest -- something similar to what is happening today and wait on some additional NIL regulations to occur (caps, etc) before they jump in?
As mentioned in a previous post, our endowment fund today is in excess of $1 billion.
We could currently fund a full team with simply a fraction of the interest they make off that oversized nest egg yearly.
How much do they care about the alumni and fans who still care about football?
I personally receive fundraising letters at least a few times a month asking for $$$ to fund events and contribute.
The latest was a band trip to NYC.
Why are you harassing alumni when you've got an overrunnth bank account?
Not only do they massively overcharge for education - but their also getting the full tabs of any loans insured by the Biden Admin.
The football program and SEC funding alone has made them a good chunk of change over the past 30 years that could be invested into a team.
It's pure greed. It reminds me of an operation like St. Jude's.
They have a reported $7bil reverse account and use a good portion of new contributions to run ads of sick children with Sarah McLaughlin singing. They do this later at night for max effect.
Please stop the madness.
I contribute to St Judes every year and have been doing so for years. And even after I contribute, I shortly get letters to contribute more. And I am sure, and have thought for awhile, that they use part of the contributions for more TV ads. But I will probably continue to contribute as long as I can.
But I agree with everything you said there.
It will get worse. I expect the NCAA to raise the cap on the number of scholarships that can be given out, putting programs like ours at an even more disadvantage. The elite programs are running the NCAA.
I think you are a bit misguided here. I'm not sure what you mean by a fraction of the earnings, but I don't think these endowments make as much money as you are suggesting. In 2022 the avg endowment lost over 8%. In 2023 the avg eanings was about 7.7%, so over the last 2 years combined they were still in the red. Second, they have to be very, very careful with what they do with this money. They cannot spend it just anyway they want. The worst thing in the world would be to lose their tax exempt status. Making payments to athletes to play a sport is certainly not a charitable activity and could very well cause them to lose that status.
Doesn't really surpise. Oil money is bigger than church money. This is why CF needs a cap immediately. It's hard to understand why they allow the current system to continue to operate like it has.
I say they must have gone bankrupt since they have a useless recycled Clemson quarterback at the helm. Me thinks there’s a lot of embezzling going on just like in the government. Funny how those things happen with lots of cash laying around and no accountability
Garnet Trust is tied in with chartable funds directly.
It's a BILLON Dollars at the base so it doesn't matter if they pick off interest for that year or not.
In 2022, the S&P dropped 19.4 and the Dow 8.8 so they were doing better than the market average.
You need to look at them from 5 or 10-year perspectives - not year by year.
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The Garnet Trust is completely separate from the Endowment Fund. It has separate governing documents and is registered with the IRS as a Private Foundation. It can't just give money away as it pleases. It has to meet the IRS requirements or they will lose tax exempt status.
I don't think you understood my point with respect to earnings. You stated it would take a fraction of the earnings, whatever that is. The implication was it wouldn't take much of the earnings to fund the figures thrown out in this thread of up to $20 million. That just isn't true. Even if they made 5% every year it would take nearly half of that to fund at that level. When you said "a fraction" I don't think you meant 1/2.
Then we have nothing to lose by ditching Beamer, as long as we don't give a big extension to the next coach for winning 2 games we were picked to lose.
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