Task force report on Cal athletics: Something has to give … but what?
The Bears reported a deficit of approximately $22 million in fiscal 2016 and will experience comparable bleeding this year… The crunch is largely due to $18 million in annual interest-only payments that are required to service the debt for the Memorial Stadium renovation and Simpson training center project. The task force’s report noted that even if the Bears were to downsize to 14 teams (the NCAA minimum)… the savings might be limited. Operational and capital expenses could be trimmed by an estimated $12 – $15 million, but the lost philanthropy within athletics and across campus would likely be momentous.
Read full article [here].
by Jon Wilner, The San Jose Mercury News.