Football Budget

[MangoZip]

Pretty much confirming what we already knew, but embarrassing to be below several FCS schools as well. We have the same budget as Stony Brook?!

Edited May 22 by MangoZip

[AkronAlumnus]

It’s a shame, because they deserve better.  I also think they’re going to surprise a lot of people this year.  I’m probably in the extreme minority here — maybe even alone — but I think football takes a sizable step forward this season while hoops takes a step back.

 

QB1 and the entire offense really is going to make some noise this year. 

Edited May 22 by AkronAlumnus

[72 Roo]

You are not in the extreme minority. This team is slowly rebuilding with the biggest jump at QB. 6-6 is definitely within their grasp and 7-5 is possible, but not probable.

 

Regards the football budget, I am not worried. Goodrich and Pottorff know it is low and they are working to add to it while suffering the cuts the university has mandated to right its financial situation. Both will be resolved over time. As mentioned in another post today we are a program that competes well in most every sport. Baseball would have been a top competitor had they not lost their top three pitchers this season, all of whom will be back.

[Blue & Gold]

16 hours ago, AkronAlumnus said:

It’s a shame, because they deserve better.  I also think they’re going to surprise a lot of people this year.  I’m probably in the extreme minority here — maybe even alone — but I think football takes a sizable step forward this season while hoops takes a step back.

 

QB1 and the entire offense really is going to make some noise this year. 

Now I like your post 😅

[exit322]

2 hours ago, Blue & Gold said:

Now I like your post 😅

Eh basketball can take a step back and still win the MAC

[kreed5120]

These numbers don't factor in the $4.5-$5 million annually that Akron spends financing Infocision. To put it in basic terms the program is essentially house poor.

 

We're spending pretty much the same as other MAC programs, but a huge chunk of that is tied up in facility costs. Other MAC programs are instead able to spend that money on coaches, players, training tables, etc. They're able to get more value out of their dollars because they spent them more efficiently.

[exit322]

11 hours ago, kreed5120 said:

These numbers don't factor in the $4.5-$5 million annually that Akron spends financing Infocision. To put it in basic terms the program is essentially house poor.

 

We're spending pretty much the same as other MAC programs, but a huge chunk of that is tied up in facility costs. Other MAC programs are instead able to spend that money on coaches, players, training tables, etc. They're able to get more value out of their dollars because they spent them more efficiently.

How much longer is that payment?

[kreed5120]

8 minutes ago, exit322 said:

How much longer is that payment?

 

I honestly don't know how many years are left on the issued bonds.

[exit322]

46 minutes ago, kreed5120 said:

 

I honestly don't know how many years are left on the issued bonds.

Given the stadium cost and the annual payment, you'd have to think they're about a 20-year bond.  So in theory if they were issued when the stadium opened, maybe it's close to done...

[kreed5120]

10 hours ago, exit322 said:

Given the stadium cost and the annual payment, you'd have to think they're about a 20-year bond.  So in theory if they were issued when the stadium opened, maybe it's close to done...

ChatGPT is saying June 2038 is the payoff so they must have been ~30 year bonds.

[pdt1420]

Didn’t they refinance a few years back? Might have started the clock over again. 

[exit322]

2 hours ago, pdt1420 said:

Didn’t they refinance a few years back? Might have started the clock over again. 

That would do it

[Sergeant Zip]

According to an Auditor of State report there is none? 

 

[Sergeant Zip]

Other interesting info:

[zippy5]

You're better off finding the audit report vs this AUP because they very well may just deem the stadium an academic facility since there are classrooms and you can't tell without the whole picture here 

Edited May 25 by zippy5

[ZippyRulz]

From page 3 (expenses)

 

34 Athletic facilities debt service, leases and rental fees - 45,427 (mens basketball) - - 3,669,935 ("non-program-specific") - 3,715,362 (total)

 

Attachment A (Expense Procedures)

 

Athletic Facility Debt Service, Leases and Rental Fees

 

30. Obtain a listing of debt service schedules, lease payments and rental fees for athletics facilities for the reporting year. Compare a sample of 5 facility payments including the top two highest facility payments and an additional 3 haphazardly selected payments to additional supporting documentation (e.g. debt financing agreements, leases, rental agreements).

 

Results: We were informed by management that all payments transferred from the athletics fund to the general fund were related to debt service. They are not paid directly to the lender. The transfer amounts were agreed to the allocated debt service schedule, which was approved by the Board of Trustees.

Edited May 25 by ZippyRulz

[ZippyRulz]

On 5/23/2026 at 10:48 PM, exit322 said:

Given the stadium cost and the annual payment, you'd have to think they're about a 20-year bond.  So in theory if they were issued when the stadium opened, maybe it's close to done...

 

I believe the original bonds were 20-year but they have probably been re-financed.

[zippy5]

53 minutes ago, ZippyRulz said:

From page 3 (expenses)

 

34 Athletic facilities debt service, leases and rental fees - 45,427 (mens basketball) - - 3,669,935 ("non-program-specific") - 3,715,362 (total)

 

Attachment A (Expense Procedures)

 

Athletic Facility Debt Service, Leases and Rental Fees

 

30. Obtain a listing of debt service schedules, lease payments and rental fees for athletics facilities for the reporting year. Compare a sample of 5 facility payments including the top two highest facility payments and an additional 3 haphazardly selected payments to additional supporting documentation (e.g. debt financing agreements, leases, rental agreements).

 

Results: We were informed by management that all payments transferred from the athletics fund to the general fund were related to debt service. They are not paid directly to the lender. The transfer amounts were agreed to the allocated debt service schedule, which was approved by the Board of Trustees.

$3.7M in non program specific facility debt/lease payments 

[kreed5120]

If they were refinanced and the term was extended it would make sense the annual payment is less than the ~4.5 million it was initially. I would have to imagine the stadium and field house make up the majority of the athletic departments debt.