Saturday, June 29, 2013

Haas: "But we don't vouch for the assumptions of revenue-generation provided by the athletic department. If they overestimated things, the model won't work."

see: Cal Stadium Financing Flaws Could Cripple Athletic Department

"Is it possible the adjustments will constrict our operating budget? Yeah," Barbour said. "And if it does, we'll address it at the time."

Said Wilton, the vice chancellor: "It puts more pressure on them, but so be it."

The situation could put the Bears at a competitive disadvantage: Many Pac-12 peers are likely to funnel TV revenue to football recruiting budgets and coaches salaries and to support money-losing Olympic sports.

It's also a worrisome sign for a department that nearly cut four sports (and re-classify a fifth) in 2010 because of budget woes.

"We have a lot of faith in the people making the decisions," said baseball coach David Esquer, whose program was eliminated, then reinstated -- and is now self-funded. "I haven't sensed any behind-the-scenes discomfort."

The $50 million in long-term media revenue earmarked for stadium debt could have been put to another use: Reducing the athletic department's reliance on institutional support.

This year, the Bears received $4.5 million in campus funds, which come from a variety of sources, including student fees. (Taxpayer dollars are not used to support athletics.) The figure is expected to decrease to approximately $2 million starting next year.

but the operational excellence of this passage was so...special: "(Cal paid Stadium Capital Financing $4.6 million, including expenses. A former company executive declined to comment on the situation. This newspaper was unable to confirm that SCF remains operational.)"

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