Wow, I just stand back in amazement about how Beems takes all the propaganda that comes out of ku and just runs with it.
It's an outright lie for any ku athletic department official to say they built $150 million dollars worth of facilities and only took on $49 million dollars in debt. $49 million in debt is the current outstanding bond balance after nearly SEVEN years of paying for it. ku took on over $60 million dollars worth of debt, nearly $70 million if you count the no interest loan they got for $6 million to complete the AFC. Until the DeBruce Center, and the city/foundation/50 year lease con job, ku has borrowed money, lots of it, for every single significant facilities project they've done for the last 30 years. They somehow conned the state into paying for the fire improvements at AFH back in the 90's which was absolutely absurd.
7 years from now, K-State will have paid down on it's debt significantly and K-State currently has 2.5 to 3 years worth of annual debt payments sitting in cash reserves.
Apparently he'll never get over the reality that FY2013 ku athletic revenue was an anomaly due to an accounting ploy that appears to be almost unprecedented in the college athletic world. Take any major conference school, use 18 months worth of donations in a fiscal year annual report, and their total revenue is going to increase dramatically as well. Of course beems will now come back and say that K-State did something similar. That was not the case, K-State applied FASB 116 to donations given during a specific 12 month period, not 18 months like ku did.
pepperjax/smock/beems: A ku propagandist-talking point. Has never been more applicable than right now. Which is saying something.
Sad, but true.
