bitb question to beebe:

[mcmwcat]

i want to know if you have any comment or concerns about some of the things going on at ku.  we've seen it reported now they're $45,500,000 in the hole.  the athletiic director has resigned.  there's an fbi investigation into this ticket scandal .... are you concerned?

  wut

[bakerman]

  How are they down that much?!

What was Bebe's response please? Sorry I missed it.

[pissclams]

they aren't down that much, BITB is just being BITB

[kcchiefdav]

How are they down that much?!

What was Bebe's response please? Sorry I missed it.

Beebe said that he's there to consult if needed, but there's not much else for him to do.

[bakerman]

How are they down that much?!

What was Bebe's response please? Sorry I missed it.

Beebe said that he's there to consult if needed, but there's not much else for him to do.

weak sauce.... He should of been riding his high from the conference staying together and reprimanded them for being a black eye on the conference

[Cire]

it was really funny to hear ku fans calling in almost in tears scolding kk for that question.

[Ghost of Stan Parrish]

I actually read somewhere in the past couple days that KU now has $40 million in bonds outstanding.  (I think it may have been the Lew resignation article in the Topeka Cap Journal?)  So, yeah, that number may be right.

[Mikeyis4dcats]

I actually read somewhere in the past couple days that KU now has $40 million in bonds outstanding.  (I think it may have been the Lew resignation article in the Topeka Cap Journal?)  So, yeah, that number may be right.

http://cjonline.com/sports/basketball/2010-06-12/ku_embraces_lew_warts_and_all


"The expenditures on facilities and salaries have landed KU in debt to the tune of $45.4 million, and with Williams Fund donations drying up — 50 current pledges are unpaid and another 18 are only partially paid, according to The Associated Press — the AD who succeeds Perkins may inherit a financial nightmare, particularly if Kansas doesn't make out well in the conference realignment."

[MadCat]

I actually read somewhere in the past couple days that KU now has $40 million in bonds outstanding.  (I think it may have been the Lew resignation article in the Topeka Cap Journal?)  So, yeah, that number may be right.

I think I read that article too...UPKS said K-State had the least bond indebtedness in the Big Twelve*.

[Catpack of 1]

I actually read somewhere in the past couple days that KU now has $40 million in bonds outstanding.  (I think it may have been the Lew resignation article in the Topeka Cap Journal?)  So, yeah, that number may be right.

I think I read that article too...UPKS said K-State had the least bond indebtedness in the Big Twelve*.

That's because we don't suck cawk cause we like it, we do it for money...just ask Texas.

[Pete]

I actually read somewhere in the past couple days that KU now has $40 million in bonds outstanding.  (I think it may have been the Lew resignation article in the Topeka Cap Journal?)  So, yeah, that number may be right.

I think I read that article too...UPKS said K-State had the least bond indebtedness in the Big Twelve*.

That's because we don't suck cawk cause we like it, we do it for money...just ask Texas.

It's also because we have no nice things.

[Sugar Dick]

I actually read somewhere in the past couple days that KU now has $40 million in bonds outstanding.  (I think it may have been the Lew resignation article in the Topeka Cap Journal?)  So, yeah, that number may be right.

I think I read that article too...UPKS said K-State had the least bond indebtedness in the Big Twelve*.

That's great, our credit score should be off the chain!     What it really means (coupled with our improved cash flow), is that we should have some room to float some bonds to buy nice things, i.e. Practice Facility.

It is funny that the most liberal university in the conference is the one closest to being illiquid.  Sweet Lew is like the jackass who opens a go-cart track in the Ozarks.  Everything is going great through August and Sweet Lew buys a brand new boat.  Then the weather turns cold, people stop showing up, and Sweet Lew is out of cash by November.  Next thing he knows, there's a line of kids buying his go-karts from the local bank, and he's scraping by on tuna living in the same trailer.

[Dugout DickStone]

I actually read somewhere in the past couple days that KU now has $40 million in bonds outstanding.  (I think it may have been the Lew resignation article in the Topeka Cap Journal?)  So, yeah, that number may be right.

I think I read that article too...UPKS said K-State had the least bond indebtedness in the Big Twelve*.

That's great, our credit score should be off the chain!     What it really means (coupled with our improved cash flow), is that we should have some room to float some bonds to buy nice things, i.e. Practice Facility.

It is funny that the most liberal university in the conference is the one closest to being illiquid.  Sweet Lew is like the jackass who opens a go-cart track in the Ozarks.  Everything is going great through August and Sweet Lew buys a brand new boat.  Then the weather turns cold, people stop showing up, and Sweet Lew is out of cash by November.  Next thing he knows, there's a line of kids buying his go-karts from the local bank, and he's scraping by on tuna living in the same trailer.

 

But August was AWESOME!!!

Have you seen these pictures I took of all these chicks on my boat at the Cove?!

[SkinnyBenny]

It is funny that the most liberal university in the conference is the one closest to being illiquid. 

Sorry bro, but just because you hate liberals and hate KU doesn't mean KU is more liberal than UT.  And CU.  Sorry.  Still love you because I'm riding high on Big XII EMAW, though!   

[sonofdaxjones]

I am pretty sure the 45 million is just bond indebtedness . . . I believe they also have a $6 million dollar loan to repay on the football facility.   So in reality, about $50 million in debt.

[Sugar Dick]

It is funny that the most liberal university in the conference is the one closest to being illiquid. 

Sorry bro, but just because you hate liberals and hate KU doesn't mean KU is more liberal than UT.  And CU.  Sorry.  Still love you because I'm riding high on Big XII EMAW, though!   

FYI:  CU isn't in the conference any more

BTW:  Sugar Dick hates no one, it goes against his MO

[steve dave]

I am pretty sure the 45 million is just bond indebtedness . . . I believe they also have a $6 million dollar loan to repay on the football facility.   So in reality, about $50 million in debt.

Seriously though, is that even a lot?  Doesn't seem like it is.  I don't know how this stuff works, obv., but with an operation of that size I don't see the problem as long as they aren't operating in the red year in and year out.

[sonofdaxjones]

I am pretty sure the 45 million is just bond indebtedness . . . I believe they also have a $6 million dollar loan to repay on the football facility.   So in reality, about $50 million in debt.

Seriously though, is that even a lot?  Doesn't seem like it is.  I don't know how this stuff works, obv., but with an operation of that size I don't see the problem as long as they aren't operating in the red year in and year out.

Relative to their potential cash flow and assets . . . no it's not a lot.  

However, I know enough to know that they are sweating bullets on finishing in the red on this years budget, and when a promise to give to the tune of $2 million dollars is missed, that means other money has to be used to fill the required bond payment holding account(s) that the KBOR and the KDFA (Kansas Development Finance Authority) requires ku athletics to have.    Also keep in mind that both gross and net revenues for ku athletics from FY 2008 to FY 2009 plummeted.    So don't be surprised if you see ku athletics finish in the red for FY 2010.   That doesn't mean they're going bankrupt though.   

Then there's the little DOJ/FBI/IRS issue.   These are not fun times inside the ku athletic administrative offices.

[Dugout DickStone]

I am pretty sure the 45 million is just bond indebtedness . . . I believe they also have a $6 million dollar loan to repay on the football facility.   So in reality, about $50 million in debt.

Seriously though, is that even a lot?  Doesn't seem like it is.  I don't know how this stuff works, obv., but with an operation of that size I don't see the problem as long as they aren't operating in the red year in and year out.

Relative to their potential cash flow and assets . . . no it's not a lot.  

However, I know enough to know that they are sweating bullets on finishing in the red on this years budget, and when a promise to give to the tune of $2 million dollars is missed, that means other money has to be used to fill the required bond payment holding account(s) that the KBOR and the KDFA (Kansas Development Finance Authority) requires ku athletics to have.    Also keep in mind that both gross and net revenues for ku athletics from FY 2008 to FY 2009 plummeted.    So don't be surprised if you see ku athletics finish in the red for FY 2010.   That doesn't mean they're going bankrupt though.   

Then there's the little DOJ/FBI/IRS issue.   These are not fun times inside the ku athletic administrative offices.

hater

[bonercat]

We need Ted DiBiase as a donor. We'd Pwn the rest of the conference.