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  • #31
    Originally posted by 1972Shocker View Post

    If you back out the one-time severance pay charge the operating expenses for 2021 were actually around $21.8 million or $5.8 million dollars lower than FY 2020. $2 million of that was coaches salaries and benefits, travel expenses were down about $400k (Covid cancellations?), marketing and promotion was down $800k, guarantees, whatever that is, was down $600k; game expense were down $150k, recruiting expenses were down $225K (a 70% reduction), other program expenses down $350k, management and administrative expenses down $500k, and fund raising expense were done $120k account for 90% of that $5.8 million. So clearly that had to go into cost-cutting mode in FY 2021. That offset about 2/3rds of the $9 million revenue decline.

    The reduction in recruiting budgets is especially painful to see in black and white.
    Doesn't COVD explain the recruiting expense? You couldn't travel anywhere to see players.

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    • #32
      I would also point that the liabilities of the ICAA includes $7.4 million of deferred revenues primarily from Booster Groups and Men's Basketball Tickets. Not a lot of informative disclosure about this but it represents revenue collected or formally pledged for services and commitments not yet rendered. It is primarily an accounting convention to move and match the revenue to the period in which the expenses will be incurred t fulfil whatever those obligations are. That money will be retained (earned) once the purchased services are provided or events are completed. Can't tell what the Booster Group deferred revenue is made of. My guess is a portion of the SASO contributions are deferred over time. Obviously, the Men's Basketball Ticket if for tickets sold for games not yet played. So it probably doesn't represent a true liability that has to be repaid with an equal amount of money as opposed to 3G's severance pay and other financial obligations.

      That makes up almost half of the liabilities carried on the balance sheet.

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      • #33
        When's the Accounting 101 final exam?

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        • #34
          Originally posted by ABC View Post

          Doesn't COVD explain the recruiting expense? You couldn't travel anywhere to see players.
          I suspect that may have had a lot to do with that. Still painful to see.

          Comment


          • #35
            Originally posted by BostonWu View Post
            When's the Accounting 101 final exam?
            This is a show-up class. Actually, you don't even have to show up, just sign up.

            Comment


            • #36
              Camp #1 for me.

              The 2021 season would logically be particularly poor in SASO and ticket sales because only a tiny handful of season ticket holders were given the opportunity to buy last year due to covid seating density/volume restrictions, and I assume very few were interesting in just giving them free money when that option was suggested on refunds. Moving on to the 2022 ledger should be considerably less dour, although I would sure assume it will still be notable loss.

              I mean, we're a school that FIRED the two best sport coaches we ever have had. GS should have been allowed to continue running baseball at a mediocre level until he finally pulled the plug on his own. And the more I stew on GM, the more I think SOMETHING could have been worked out eventually to get him to have a come-to-jesus moment with his hubris, and stitch the hole back up. We aren't coming up for air until new blood is installed at the top and Boatright is off selling insurance back in Mississippi or where the hell he's from.

              We're in a semi-sad state right now. Financials aren't great and will probably stay there possibly forever (covid, plus ivanka drama, plus tv, plus cultural changes). Our conference is one more realignment shuffle away from becoming a more expensive version of the effing Valley. IB appears to be a "nice guy" coach possibly, which is great for feelings but less so for hanging banners. Just not a great position. We're a sell stock for damn sure.

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              • #37
                My grandparents first bought season tickets in the 50's, my father was roommate's with Cleo Littleton and had season ticket his entire life and now we have 5 of them in the family.

                So yes we have been loyal through good times and bad, but loyal doesn't mean I won't completely disagree with anyone in the program at any given time. I so disgusted at the moment that I feel like dropping them but I won't.

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                • #38
                  Muma, unlike Bardo, will have little interest or vision in this matter He won’t even see the necessity of the problem.

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                  • #39
                    I always thought something should / could have been worked out to retain GM.
                    Things would have blown over by now. I believe the majority of the fan base was
                    behind him and still would be to this day. The program sure seems to be in decline
                    on many levels and I think we did it to ourselves. I hope HCIB can turn things back
                    around but we are trending down in so many respects. I'd like to see some fire.

                    Comment


                    • #40
                      Originally posted by asiseeit View Post
                      I'd like to see some fire.
                      Here you go…

                      "You Just Want to Slap The #### Outta Some People"

                      Comment


                      • #41
                        Originally posted by asiseeit View Post
                        I always thought something should / could have been worked out to retain GM.
                        Things would have blown over by now. I believe the majority of the fan base was
                        behind him and still would be to this day. The program sure seems to be in decline
                        on many levels and I think we did it to ourselves. I hope HCIB can turn things back
                        around but we are trending down in so many respects. I'd like to see some fire.
                        Pretty sure there was a option for FHCGM to come back with conditions, which meant admitting being a hothead. The problem with that is by admitting it, the next time he looks at someone wrong and they complain, he could be fired for cause and get zero. He would have been effectively muzzled as our coach, which would have been painful to watch.

                        Comment


                        • #42
                          Originally posted by shoxlax View Post

                          Pretty sure there was a option for FHCGM to come back with conditions, which meant admitting being a hothead. The problem with that is by admitting it, the next time he looks at someone wrong and they complain, he could be fired for cause and get zero. He would have been effectively muzzled as our coach, which would have been painful to watch.
                          100% agree on this.

                          I have also found myself wondering if Coach Gregg Marshall was kinda seeing the writing on the wall to stay ultra-competitive. Specifically when moving to the AAC. I know he was up for the challenge for sure...but I do wonder sometimes if he may have been thinking...How do I get multiple 4-Star players per recruiting cycle....and how can I coach them up with my style?

                          He didn't like "the slop" and with the looming NIL deals coming up...I wonder if he was like "ahh screw this" and just accepted being pushed out but getting paid on the way out (which he deserved).

                          I dunno...but from afar...it didn't really feel like he fought for it at the end there. Especially considering his passion for the sport. He just kinda went away in the night.
                          FINAL FOURS:
                          1965, 2013

                          NCAA Tournament:
                          1964, 1965, 1976, 1981, 1985, 1987, 1988, 2006, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2021

                          NIT Champs - 1 (2011)

                          AP Poll History of Wichita St:
                          Number of Times Ranked: 157
                          Number of Times Ranked #1: 1
                          Number of Times Top 5: 32 (Most Recent - 2017)
                          Number of Times Top 10: 73 (Most Recent - 2013, 2014, 2015, 2017)

                          Highest Recent AP Ranking:
                          #3 - Dec. 2017
                          #2 ~ March 2014

                          Highest Recent Coaches Poll Ranking:
                          #2 ~ March 2014
                          Finished 2013 Season #4

                          Comment


                          • #43
                            Originally posted by SubGod22 View Post
                            Had season tickets for a few years. It simply became a time and money thing with where I was at in life. I could become one again in the future, but if I'm making that investment I need something worth investing in. So for now, I'll go to a few games when I can and watch the rest from a place of comfort.
                            I'm in the same boat. My first season was 12-13 which was a pretty good first season. With kids activities, rising prices, and the trajectory of the program, I decided to drop a few years ago. The ticket office employee assured me almost all of the games would be on tv instead of trying to get me to renew, lol.
                            Shocker fan for life after witnessing my first game in person, the 80-74 win over the #12 Creighton Bluejays at the Kansas Coliseum.

                            Comment


                            • #44
                              Originally posted by Ta Town Shocker View Post

                              I'm in the same boat. My first season was 12-13 which was a pretty good first season. With kids activities, rising prices, and the trajectory of the program, I decided to drop a few years ago. The ticket office employee assured me almost all of the games would be on tv instead of trying to get me to renew, lol.
                              High level staff training… wonder who’s responsible for that operation?

                              "You Just Want to Slap The #### Outta Some People"

                              Comment


                              • #45
                                Originally posted by shoxlax View Post

                                Pretty sure there was a option for FHCGM to come back with conditions, which meant admitting being a hothead. The problem with that is by admitting it, the next time he looks at someone wrong and they complain, he could be fired for cause and get zero. He would have been effectively muzzled as our coach, which would have been painful to watch.
                                So, do you think that maybe HCIB, as a condition to get the HC position agreed to where the muzzle by proxy to further ingratiate himself to ADDB?

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