goramblers2011 wrote:
Need to increase athletics budget. Simple as that. Our endowment is larger than DePaul's. Larger than Villanova's. Larger than Xavier's. Significantly larger than Gonzaga's. Larger than Marquette's.
This Final Four run and future basketball success will produce better returns than any investment. If our BoT cannot recognize that, and does not make an extension possible, I will absolutely cut off my annual donations to the university. Right now, I make an annual contribution to the general university fund for scholarships and such but plan on also making annual gifts to the athletics fund if the school shows it is committed on its end.
This is not the time for bureaucratic incompetence.
You are absolutely right about the athletics budget needing to increase. I am a vocal proponent of that. But bureaucratic incompetence would be spending down a penny of the endowment to pay for athletics. Loyola's endowment is large (thanks to the comeback engineered by Father Garanzini), but not nearly on the level with other schools in the region. Northwestern has 13x our endowment, Notre Dame has 11.3x, and U of Chicago has 10x. We're not even near the top among Jesuit schools-- Boston College has 3x what we have, Georgetown has 2.1x, Saint Louis has 1.5x, Santa Clara has 1.1x. Per student, we're even further down the list.
So don't even mention the endowment. Loyola should be able to really get some generous donations for the athletic department in the wake of this year's success, and I am reasonably sure season tickets and attendance will go up substantially next season. I hope that along with Coach Moser's large increase, there will be a similar increase in marketing, promotions, and growing the fanbase to sustain larger revenues. If you can't fundraise for athletics off what we all just saw over the past month, you can't call yourself a fundraiser.