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One more comment about the NIL. There are numerous individuals in 'Wichita' with university connections that can take care of any NIL woes with 'pocket change'... many more than Chuck.
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"You Just Want to Slap The #### Outta Some People" -
It seems we used to have plenty of money. That money or other funds is now going to pay off a coach that many of those donors didn't want fired. Add the other expense of Brown. I can easily see why some donors do not want to pay out more or any amount at this time. That was a pretty big ad in the paper with a lot of names that did not want Marshall fired. I'm not saying either side was right or wrong. I am saying that decision was a very expensive one.Comment
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Lesson learned: when you find out someone has done things that would allow them to be fired for cause, you either fire them, or make sure the skeletons don't get out of the closet.Originally posted by ShockTalk View PostComment
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Pleeeeease let them create an endowment.Originally posted by WstateU View PostOne more comment about the NIL. There are numerous individuals in 'Wichita' with university connections that can take care of any NIL woes with 'pocket change'... many more than Chuck.
Kung Wu say, man who read woman like book, prefer braille!Comment
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but would he fundraise for the athletes? Probably not, but it "for the kids".Originally posted by Kung Wu View PostComment
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No.Originally posted by Dan View PostKung Wu say, man who read woman like book, prefer braille!Comment
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One big campaign to create a self-sustaining endowment would certainly make more sense than going back to the donor well each season.Originally posted by Kung Wu View PostComment
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There are numerous pieces to the athletic departments financial puzzle. The 3 largest revenue items in the Athletic Department's income statement are Ticket Sales, SASO Memberships and Student Fees. Here is how that is trending:Fiscal Y.E. Ticket Sales vs Prior Yr Student Fees vs Prior Yr SASO Memberships vs Prior Yr Combined Total vs Prior Yr 06/30/2018 $5,783,000 +21.4% $4,328,000 +40.9% $6,080,000 +1.72% $16,191,000 +17.2% 06/30/2019 $5,500,000 -5.1% $4,169,000 -3.7% $6,182,000 +1.68% $15,851,000 -2.1% 06/30/2020 $5,374,000 -2.3% $4,269,000 +2.4% $6,119,000 -1.00% $15,762,000 -0.6% 06/30/2021 $1,484,000 Covid Yr $4,473,000 +4.8% $1,689,000 Covid Yr $ 7,646,000 Covid Yr 06/30/2022 $4,713,000 -12.3% $4,272.000 -4.5% $5,414,000 -10.5% $14,399,000 -8.6% 06/30/2023. $4,306,000 -8.6% $4,470,000 +4.6% $4,309,000 -20.4% $13,085,000 -9.1%
The 06/30/22 Change vs Prior Yr for Ticket Sales and SASO Memberships is vs FY2020.
The FY2021 Covid disaster cost the athletic department roughly $9 million. About $8 million that was in reduced Ticket Revenue and SASO Memberships.
Adding NIL needs and other athlete benefits such as Cost of Attendance and Alston Awards just adds to the challenge.
Other contributions (gifts and donations) have also declined during this time. From FY18 through FY20 those contributions averaged $4,172,000 per year. From FY21 through FY23 those contributions averaged $1,982,000.
Clearly the trend is not our friend and If I had to guess the numbers for FYE 06/30/24 will continue the declining trend and indicate a relatively unenthusiastic and perhaps apathetic fan base who, based on sentiments posted on this thread, are routinely looking for the cheapest option possible to incentivize them to buy tickets.. I can't really blame anyone for that but it is just another hurdle to be overcome.
I think it is a legitimate question to wonder whether Wichita State will be able to keep up financially unless we can convince the BIG boys to open up their wallets. And at this point there are no signs that is happening. Absent that the revenue model may need addressing and perhaps an overhaul. Whether or not there are any good option is another question.
I think trying to build a sustaining endowment is a good thought. Would not hurt to try. What do you have to lose.
All I know for sure is that I personally don't have the ability or the connections to make a significant impact unless I win one of the PowerBall mega jackpots.Last edited by 1972Shocker; January 18, 2024, 12:58 PM.Comment
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Hey somebody gets it!Originally posted by TrackSuitAndTie View PostKung Wu say, man who read woman like book, prefer braille!Comment
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Some of that apathy could (and really should) be directed toward college athletics in general. The illusion of the "student athlete" vanished long ago, but now it's on a worse and foreseeable trajectory with a lot of negative momentum. Everyone can see the writing on the wall, which leads to a fairly understandable amount of apathy in terms of financial support outside of ticket sales. People don't like throwing money at doomed efforts (see, e.g., football of the mid-1980s after people figured out it might be on the chopping block,) which creates a snowball effect. In 15 years, there will be a single league with the 30 schools still standing after this Hunger Games experiment, because that's what those 30 schools want, and the NCAA is a feckless entity that is really just run by those 30 schools anyway. The only way that doesn't happen is if people stop feeding the beast in a more general way and on a national scale, and the population has shown little interest in doing so thus far.
As some have suggested, the only hope may be to get it endowed before the apathy fully sets in. Raising an endowment of the size that would ultimately prove necessary to fend that off would be a daunting challenge, to put it mildly, to say nothing of the fact that the effort would probably need to be successful at 100+ schools to stave off what's coming and/or make it irrelevant.Comment
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There's nothing magical about an endowment. It's institutional welfare under a different name - and a LOT more of it.
We just need a clean, crisp check for about $5M to get the ship headed in the right direction. To endow that into perpetuity would require $100M.
Let's go buy some players and try not to get caught. Turn the AAC into a 2 man league. Air Capital FedEx Challenge.
Then schedule OOC VERY aggressively.
"How big is the WSU endowment?
$634,048,409
As of June 30, 2022, the total value of the consolidated endowment was $634,048,409. In total, a record $23 million was distributed from the endowment to support scholarships, faculty positions, research, and outreach programs this past fiscal year."
Hmmm... When did our endowment double? Last time I checked it was around $350M. Are they investing in crypto and AI stocks?
I vote we take a teensy weensy lil' dip outta that bucket.Comment
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Wrong WSUOriginally posted by C0|dB|00ded View PostBrummett throws, STRUCK HIM OUT! THE SHOCKERS ARE NATIONAL CHAMPIONS! AN UNBELIEVABLE STORY!Comment
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Be who you are and say what you feel, because those who mind don't matter, and those who matter don't mind. ~Dr. SeussComment
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Seeing The Bardo in that bottom picture in the link above makes me verklempt.
GD how life can change in a flash....
We go from Bardo, Sexton, and Marshall, to Golden, AssLips, and I forgot the other guy's name (the black dude with no head coaching experience).
NO SURPRISE! We are now in the shitter. People matter. KEY PEOPLE MATTER FFS.Comment
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