claver2010 {l Wrote}:interesting regarding the financials of FSU firing taggart:That said, the financial implications of letting Taggart go at this point still will be wide-ranging. Florida State needed a $6.15 million transfer from Seminoles Boosters, which liquidated reserve assets, just to balance its athletic budget this summer. A new $60 million football operations building, which was set to open July 2021, was postponed this summer so the athletic department could retool its finance plan.
“Hopefully not,” Coburn said when asked if the coaching change would further delay construction on the football ops building. “I think once we figure out the buyouts and the new salaries, then we’ll have to take a step back and see where we are.”
A fundraising campaign — the school calls it “The Unconquered Campaign” — had had surpassed $70 million in pledges this summer. A significant chunk of that money is on hold in addition to the possible $20 million-plus it could cost to fire Taggart and his staff. Throw in the money it’ll take to hire another coach, assistants and any potential buyout figures associated with them, and that bill could climb closer to $30 million. That’s a lot of money and the vast majority of it is coming from the pockets of boosters.
“I think the basic concept there is (Seminoles Boosters) will have input,” Coburn told The Athletic in July. “They’ve always had input, but they’ve kind of been on the outside looking in the door or looking in the window, whereas now they’ll be inside giving input. But those basic decisions are still going to be made by the president and the athletic director.”
...
Florida State sold fewer than 25,000 of its 40,000 available main bowl season-ticket seats and under 3,000 of its 6,000 Championship Club season-ticket seats. Main bowl season tickets range between $199 and $330 and Champions Club season tickets cost $2,750 per year. As a result of the declining sales of each, the FSUAA was missing out on eight digits of potential revenue.
Overall attendance for games also was dropping. Florida State had an averaged announced attendance of just 67,677 in 2018. The actual number of tickets scanned at the gate was just 41,599, figures provided to The Athletic showed. In addition to less money from ticket sales, dropping attendance means less revenue from concessions sales and more. Seminoles Boosters, which receives a minimum donation for every season ticket sold, also felt the hurt.
https://theathletic.com/1350564/2019/11 ... ce=related
Ouch. Also seen from Bud Elliot that due to becoming coed fairly recently, scholarships there are not endowed and are covered by donations every year. Furthermore, fewer rich alums than most big time schools.
Pressure is on to make a good hire.