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New Muir letter - Printable Version

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New Muir letter - Phogge - 07-31-2020

Includes note that the ticket dept. will email money choices next week to season tix holders.

Show me the money!


RE: New Muir letter - Snorlax94 - 07-31-2020

I don't see harm in providing the entire letter. Was curious to see any discussion/thoughts about converting it to a Buck donation.

I don't think I'd convert all of it to a Buck donation (that'd be 4 tickets), but one way or another, I plan on donating more than usual to the AD in '20-'21. 

------------------------------------------------------------

The Pac-12 CEO Group announced today the Conference-only schedule for football. The Conference also approved scheduling plans for men’s and women’s soccer and women’s volleyball, with competition to start no earlier than the weekend of Sept. 26. For more information on the announcement, please click here.

While today's announcement is certainly welcome news, given the ongoing spread of COVID-19 it remains unclear whether fans will be permitted to attend events on The Farm this fall and, if they are, how many fans we can welcome back to our venues. Due to this lingering uncertainty, our staff will email you on Monday to share details about options to reconcile your 2020 Season Ticket Membership(s). The options available to you will include converting your Membership payment to a tax-deductible Buck/Cardinal Club gift, converting your payment to a credit for 2021, and requesting a full refund.
As you are likely aware, earlier this month, in an effort to remain financially sustainable while also supporting a nationally competitive athletics experience for our student-athletes, we made the difficult decision to discontinue 11 of our sports at the varsity level at the conclusion of the 2020-21 academic year. Despite this significant and painful change, we are still faced with a serious financial challenge. Nevertheless, we remain committed to sustained excellence and leadership in athletics, academics and education through sport, and we will continue to support our student-athletes in every way possible.
We rely heavily upon annual ticket sales and generous philanthropic gifts from our supporters to provide our student-athletes with a world-class education and a championship-level athletics experience. In that vein, I encourage you to consider converting your Season Ticket Membership payment to a Buck/Cardinal Club donation. The Buck/Cardinal Club, the athletics department’s annual fund, plays a vital role in providing the resources needed for student-athletes to compete at the highest level in their sport, excel in the classroom, and leave their mark beyond The Farm. One of the fund’s most important roles is covering the $5M in annual scholarship expenses that are not currently endowed. Philanthropy will be especially impactful this year, as we navigate the harsh financial realities ahead.
In the event that we are able to welcome fans back to our venues this year, Season Ticket Members will have access to tickets before the general public. Season Ticket Members who convert their Membership payment to a Buck/Cardinal Club gift, as well as current Stanford students and family members and close friends of the teams, will receive priority access to tickets.
Regardless of what you decide with respect to your 2020 Season Ticket Membership(s), please know how profoundly grateful I am for your support and for the meaningful impact you have on the lives of our student-athletes. I look forward to welcoming you back to The Farm when it is safe for you, our student-athletes, and the entire Stanford community.


Thank you again, and go Stanford!


RE: New Muir letter - winflop - 07-31-2020

I'm not planning to convert mine to a donation. Instead I will use it toward 2021 season tickets.

Two reasons:

1. I blame the decision to cut 11 varsity sports on Muir's poor financial management. He should have seen the decline in conference/network revenues coming and cut back spending increases sooner. Why would I want to put more money into a poorly-managed operation?

2. How does the Pac-12 manage to completely screw up a conference-only football schedule? It's a complete no-brainer to have the last weekend of the season be all traditional rivalry games. This was dead simple given that there were no OOC commitments that cause conflict. We should be playing in Weenieville on Dec 5, not Oct 24 FFS


RE: New Muir letter - slide - 07-31-2020

did Muir retain all 37 AADs after cutting the 11 varsity sports?


RE: New Muir letter - BobK - 07-31-2020

No slide, but names not announced nor yet deleted from the web site.


RE: New Muir letter - chrisk - 07-31-2020

Winflop,

Clearly, the PAC-12 is thinking 1) the season may get aborted and 2) they need attractive TV games spread throughout the season.

Also, if too many people opt out of donating, I would think more sports may be axed.


RE: New Muir letter - 82lsju - 07-31-2020

from the letter

Quote:One of the fund’s most important roles is covering the $5M in annual scholarship expenses that are not currently endowed

we offer "over 350" scholarships now

https://facts.stanford.edu/campuslife/athletics/#:~:text=Stanford%20offers%20over%20350%20athletic,students%20participate%20in%20intercollegiate%20sports.

If I SWAG the cost of an endowed scholarship at ~$80k (https://financialaid.stanford.edu/undergrad/budget/index.html ) then that gives me ~60 unendowed scholarships so ~290 of them appear to be fully endowed today.  Anyone recall how many scholarships will eventually be eliminated (yes some not for four years) by the recently eliminated 11 teams


RE: New Muir letter - chrisk - 07-31-2020

(07-31-2020, 03:24 PM)82lsju Wrote:  from the letter

Quote:One of the fund’s most important roles is covering the $5M in annual scholarship expenses that are not currently endowed

we offer "over 350" scholarships now

https://facts.stanford.edu/campuslife/athletics/#:~:text=Stanford%20offers%20over%20350%20athletic,students%20participate%20in%20intercollegiate%20sports.

If I SWAG the cost of an endowed scholarship at ~$80k (https://financialaid.stanford.edu/undergrad/budget/index.html ) then that gives me ~60 unendowed scholarships so ~290 of them appear to be fully endowed today.  Anyone recall how many scholarships will eventually be eliminated (yes some not for four years) by the recently eliminated 11 teams
I don’t remember the exact number. I though it was around 35.

When I get home, I can check the total scholarship expense. 350 sounds low.


RE: New Muir letter - 82lsju - 07-31-2020

(07-31-2020, 03:59 PM)chrisk Wrote:  
(07-31-2020, 03:24 PM)82lsju Wrote:  from the letter

Quote:One of the fund’s most important roles is covering the $5M in annual scholarship expenses that are not currently endowed

we offer "over 350" scholarships now

https://facts.stanford.edu/campuslife/athletics/#:~:text=Stanford%20offers%20over%20350%20athletic,students%20participate%20in%20intercollegiate%20sports.

If I SWAG the cost of an endowed scholarship at ~$80k (https://financialaid.stanford.edu/undergrad/budget/index.html ) then that gives me ~60 unendowed scholarships so ~290 of them appear to be fully endowed today.  Anyone recall how many scholarships will eventually be eliminated (yes some not for four years) by the recently eliminated 11 teams
I don’t remember the exact number.  I though it was around 35.

When  I get home, I can check the total scholarship expense.  350 sounds low.

well it does say "over 350" but I'd guess it is below 400 (or it would say "over 400") so maybe 375 in total today so maybe ~315 are fully endowed now, ~35 eventually go away so of the ~60 unendowed scholarships it would seen they want long term funding for ~25 of them that would remain (assuming no more cuts)


RE: New Muir letter - chrisk - 07-31-2020

(07-31-2020, 04:14 PM)82lsju Wrote:  
(07-31-2020, 03:59 PM)chrisk Wrote:  
(07-31-2020, 03:24 PM)82lsju Wrote:  from the letter

Quote:One of the fund’s most important roles is covering the $5M in annual scholarship expenses that are not currently endowed

we offer "over 350" scholarships now

https://facts.stanford.edu/campuslife/athletics/#:~:text=Stanford%20offers%20over%20350%20athletic,students%20participate%20in%20intercollegiate%20sports.

If I SWAG the cost of an endowed scholarship at ~$80k (https://financialaid.stanford.edu/undergrad/budget/index.html ) then that gives me ~60 unendowed scholarships so ~290 of them appear to be fully endowed today.  Anyone recall how many scholarships will eventually be eliminated (yes some not for four years) by the recently eliminated 11 teams
I don’t remember the exact number.  I though it was around 35.

When  I get home, I can check the total scholarship expense.  350 sounds low.

well it does say "over 350" but I'd guess it is below 400 (or it would say "over 400") so maybe 375 in total today so maybe ~315 are fully endowed now, ~35 eventually go away so of the ~60 unendowed scholarships it would seen they want long term funding for ~25 of them that would remain (assuming no more cuts)

I looked up the budget for the year just ending. The total athletic scholarship budget was $28,655K, of which $24,759K was from endowed funds and $3,896K was from expendable funds. It looks like he rounded up some and they may be expecting the endowment money to drop some and needs to be backfilled. The $5M may include the scholarships being cut since some of them will continue 4 more years.