Income inequality - main Occupy theme?
Posted 30 October 2011 - 05:48 AM
College sports programs are there to do 2 things: create income and at the same time provide a huge tax credit for themselves as a liability (the athletic programs that "lose" money).
College academics create income based upon tuition, grants, federal and state dollars, endowments, etc.
Second of all, those who believe colleges are "losing" money with their sports programs are using the same accounting firms and the same financial institutions who manage Wall Street and everyone else. Remember how all but a couple teams in the NFL claimed they were losing money and used it as an excuse to propagate the lockout? You don't think colleges use the same accounting methods? Of course colleges are not going to claim their athletic departments are creating a revenue stream- if they did so they'd lose boosters, sponsorships, etc.
Posted 30 October 2011 - 07:25 AM
The universities are going to have to cut back on the number of sports programs that are offered.