07-19-2020, 06:23 PM
(07-19-2020, 05:21 PM)Giants Wrote:(07-19-2020, 03:32 PM)akiddoc Wrote:(07-19-2020, 11:31 AM)cardcrimson Wrote: Pac-12 players, led by some at Cal, are threatening to boycott the football season. Why? Sure, they want more Covid testing, but they're also demanding a 50/50 revenue share and 6 years of health insurance after they're done playing football.
https://247sports.com/Article/Pac-12-pla...149309979/
50% revenue share is a non-starter.
A percentage of profit sharing maybe, but it wouldn't be 50%, because that money funds the entire AD at most schools. I don't think the football program at Cal runs a profit, and it definitely won't once they start paying interest on that stadium loan.
The football program does operate at a profit (similar to all other Power Five schools). It would be hard not to considering the TV revenue. However, the overall program runs at a deficit.
One other note: The Athletic Dept. is no longer on the hook for all of the infrastructure improvements. The campus General Fund is now responsible for almost all of the payments.
The general fund is picking up 50% ($9 mill) of the stadium payments officially. But because the athletic department is running such a big deficit, the general fund picked up an additional $24 million last year. Essentially that is a $33 million deficit. Once Cal starts paying principle on that loan, that will be a $43 million deficit. Much of that is coming from the football program. I'm not sure Cal football will be making anything.
