UCBearcats
Well-known member
- Joined
- Jan 20, 2011
- Messages
- 1,723
I saw on another thread where someone commented about how much money XU spends on their basketball program. I heard others say that we don't spend as much as them.
I've also heard many here say that we should be spending all this money to improve facilities and that the University hasn't given Mick the financial support his program has earned and deserves.
There's a lot of misinformation around here so I thought I'd do some quick research and cut through the crap.
I bet many of you would you be surprised to learn that UC spends more money on basketball than XU despite the fact that UC reported a $0 profit on basketball from the 7/1/14-6/30/15 fiscal reporting year.
In the fiscal reporting year of 7/1/14-6/30/15 Xavier University officially reported revenues of $12,100,195 from men's basketball compared to expenses of $5,518,383 for a total profit of $6,581,812.
In the same time the University of Cincinnati officially reported men's basketball revenues of $7,594,044 vs expenses of $7,594,044 for a net profit of $0.
My best guess would be that was some creative accounting done by UC's financial team to avoid showing that the program was actually losing money.
Just a little perspective for all of those who say that Mick hasn't been getting the things he deserves from our University. It's not like his program is making it easy for the University to want to throw any more money at it. Despite the fact that his program earned us $0 in the Q's 2/3-1/2 14 and 15 fiscal year he is the 22nd highest paid coach in men's basketball according to the most up to date reporting and we're set to move ahead with a $90 million renovation of 5/3rd.
I've also heard many here say that we should be spending all this money to improve facilities and that the University hasn't given Mick the financial support his program has earned and deserves.
There's a lot of misinformation around here so I thought I'd do some quick research and cut through the crap.
I bet many of you would you be surprised to learn that UC spends more money on basketball than XU despite the fact that UC reported a $0 profit on basketball from the 7/1/14-6/30/15 fiscal reporting year.
In the fiscal reporting year of 7/1/14-6/30/15 Xavier University officially reported revenues of $12,100,195 from men's basketball compared to expenses of $5,518,383 for a total profit of $6,581,812.
In the same time the University of Cincinnati officially reported men's basketball revenues of $7,594,044 vs expenses of $7,594,044 for a net profit of $0.
My best guess would be that was some creative accounting done by UC's financial team to avoid showing that the program was actually losing money.
Just a little perspective for all of those who say that Mick hasn't been getting the things he deserves from our University. It's not like his program is making it easy for the University to want to throw any more money at it. Despite the fact that his program earned us $0 in the Q's 2/3-1/2 14 and 15 fiscal year he is the 22nd highest paid coach in men's basketball according to the most up to date reporting and we're set to move ahead with a $90 million renovation of 5/3rd.
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