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You Think This 2-10 Football Team Pays For Itself???

Over at the Daily Orange today, Matt Gelb and Ethan Ramsey released an article delving into the side of Syracuse Athletics we rarely get to see...the financial side. Definitely a worthwhile read for those wondering where all that money they spent of tickets, merchandise and Dome Dogs went. Some highlights:
The football program lost $157,085 in 2006, the program's first deficit since the government started requiring data from all universities in 1995...A 21-year low in average attendance, 35,009, would indicate a further decline in 2007, though specific numbers are not available until October.
I guess we probably figured as much, but to see the numbers laid out like that...yeesh. In a time when college football has never made more money, and millions of dollars are thrown around to every BCS school in the nation...it just sounds crazy that it could possibly be a money-losing venture. Yet...
In the 119-team Football Bowl Subdivision, 56 percent of schools showed a profit in 2006, according to the NCAA's latest financial report released last week.
It's not just belt-buckling time in the football program. SU Athletics overall has seen their profit margin go bye-bye as well:
The athletic department earned $42.5 million and spent $43.7 million in 2006-07, the university's Equity in Athletics Disclosure Act (EADA) report to the government stated. The department made an average profit of $5.7 million per year the previous three years, The Chronicle's EADA database states.
Thankfully for SU, a reserve fund has helped offset the lack of revenue. But clearly, it's a long-term solution.

You don't need to be a financial consultant to see the writing on the wall...Greg Robinson makes $1,000,000/year. The football program, of which he is responsible and is expected to be a natural revenue generator, is losing money and forcing SU to skim from it's reserves. Whatever pressure you thought Robinson was under from us, the fans, it's tenfold from the university.

It's a simple solution, backed up by Dan Fulks, who authored the NCAA's financial report.
"Football needs to win so they can sell more tickets...Some schools, like the University of Kentucky, it doesn't matter if you win or not, they're going to sell tickets," Fulks said. "Part of that is climate-related because it's a three-day tailgating party. I don't think you have that benefit at Syracuse."
Oh, and for those wonder if the university is beginning to sour on Jim Boeheim after back-to-back NIT appearance...
Men's basketball turned a $7.0 million profit during a 24-11 season that culminated with an NIT appearance in 2006-07, SU's EADA report stated. The program earned $13.8 million and spent $6.8 million.
Yeah...Jim's doing just fine. Check out the full article for the rest of the details.