Link: ECU Athletics Getting $20m From University

Not sure how this is even legal in NC, but..........MONEY!

"East Carolina University has designated $20 million in university money to settle a deficit in its athletics budget and to make significant capital improvements to athletics facilities, officials said Wednesday.

The funds are available immediately, with one $10 million transfer intended to nullify a deficit created in part by poor attendance and fees associated with joining the American Athletic Conference in 2014. The other $10 million allocation is designated for facility improvements including a long-sought training table, which is a nutrition and dining facility that caters specifically to student-athletes.

ECU chief communications officer Tom Eppes said Wednesday the first $10 million comes from a pool of $149 million in non-state auxiliary funds to cover a deficit projected to be $4,223,699 at the end of this fiscal year. What remains of the $10 million will be available for potential future athletics debt.

The second $10 million transfer comes from an ECU Physicians accrued fund balance worth $95 million.

The revenue is generated through a variety of sources by every university department, Eppes said. Examples include student fees, money paid to rent university facilities and, in the case of ECU Physicians, money paid during patient visits to clinics."

(12-06-2018 02:34 PM)CoastalJuan Wrote:  Link: ECU Athletics Getting $20m From University

Not sure how this is even legal in NC, but..........MONEY!

"East Carolina University has designated $20 million in university money to settle a deficit in its athletics budget and to make significant capital improvements to athletics facilities, officials said Wednesday.

The funds are available immediately, with one $10 million transfer intended to nullify a deficit created in part by poor attendance and fees associated with joining the American Athletic Conference in 2014. The other $10 million allocation is designated for facility improvements including a long-sought training table, which is a nutrition and dining facility that caters specifically to student-athletes.

ECU chief communications officer Tom Eppes said Wednesday the first $10 million comes from a pool of $149 million in non-state auxiliary funds to cover a deficit projected to be $4,223,699 at the end of this fiscal year. What remains of the $10 million will be available for potential future athletics debt.

The second $10 million transfer comes from an ECU Physicians accrued fund balance worth $95 million.

The revenue is generated through a variety of sources by every university department, Eppes said. Examples include student fees, money paid to rent university facilities and, in the case of ECU Physicians, money paid during patient visits to clinics."

Believe part of that first $10 million will be going to an indoor practice facility also. Been a crazy 6 months and week @ ECU. We are finally making a commitment to getting competitive with the top of this league in the big three sports. Will take a few years but we're getting there.

I think of the money as more of an investment than a bailout. If we can fix football, the money will take care of itself. Putting 40-50k butts in seats goes a very long way toward rectifying our financial problems (and I'm really not comfortable with the word rectify). Doing nothing is not an option.

(12-06-2018 02:59 PM)DownEastPirate Wrote:  

(12-06-2018 02:34 PM)CoastalJuan Wrote:  Link: ECU Athletics Getting $20m From University

Not sure how this is even legal in NC, but..........MONEY!

"East Carolina University has designated $20 million in university money to settle a deficit in its athletics budget and to make significant capital improvements to athletics facilities, officials said Wednesday.

The funds are available immediately, with one $10 million transfer intended to nullify a deficit created in part by poor attendance and fees associated with joining the American Athletic Conference in 2014. The other $10 million allocation is designated for facility improvements including a long-sought training table, which is a nutrition and dining facility that caters specifically to student-athletes.

ECU chief communications officer Tom Eppes said Wednesday the first $10 million comes from a pool of $149 million in non-state auxiliary funds to cover a deficit projected to be $4,223,699 at the end of this fiscal year. What remains of the $10 million will be available for potential future athletics debt.

The second $10 million transfer comes from an ECU Physicians accrued fund balance worth $95 million.

The revenue is generated through a variety of sources by every university department, Eppes said. Examples include student fees, money paid to rent university facilities and, in the case of ECU Physicians, money paid during patient visits to clinics."

Believe part of that first $10 million will be going to an indoor practice facility also. Been a crazy 6 months and week @ ECU. We are finally making a commitment to getting competitive with the top of this league in the big three sports. Will take a few years but we're getting there.

people are going to Bit&^ about this but it was seriously needed. Is it fair that athletics had to be bailed out? No, but you can't fix the past mistakes by previous staff. Dave Hart has been worth the $.

(12-06-2018 03:32 PM)mikeinoki Wrote:  I think of the money as more of an investment than a bailout. If we can fix football, the money will take care of itself. Putting 40-50k butts in seats goes a very long way toward rectifying our financial problems (and I'm really not comfortable with the word rectify). Doing nothing is not an option.

Yeah I agree. Football is the lifeblood of the city in the Fall. It would be interesting to know the economic impact on local businesses (hotels, bars, restaurants, gas stations, taxis, etc) as well as university enrollment between good and bad football seasons.

Financial shenanigans, smoke and mirrors, call it what you wish, but student tuition bills will certainly go up to pay for the “auxiliary funds transfer” to bail out the dumpster fires that are ECU football and basketball. Who knows, maybe with another $10 million, ECU can beat Tulsa in football and Tulane in basketball. But then again, maybe not.

These are non appropriated funds and do not come from tuition but from fees. It is quite legal.

(12-06-2018 06:53 PM)vabearcat Wrote:  Financial shenanigans, smoke and mirrors, call it what you wish, but student tuition bills will certainly go up to pay for the “auxiliary funds transfer” to bail out the dumpster fires that are ECU football and basketball. Who knows, maybe with another $10 million, ECU can beat Tulsa in football and Tulane in basketball. But then again, maybe not.

No they won’t. Students did go up but no connection to the $20M

(12-06-2018 07:39 PM)Carolina_Low_Country Wrote:  

(12-06-2018 06:53 PM)vabearcat Wrote:  Financial shenanigans, smoke and mirrors, call it what you wish, but student tuition bills will certainly go up to pay for the “auxiliary funds transfer” to bail out the dumpster fires that are ECU football and basketball. Who knows, maybe with another $10 million, ECU can beat Tulsa in football and Tulane in basketball. But then again, maybe not.

No they won’t. Students did go up but no connection to the $20M

Ignore him, CLC. Just ignore him.

(12-06-2018 06:53 PM)vabearcat Wrote:  Financial shenanigans, smoke and mirrors, call it what you wish, but student tuition bills will certainly go up to pay for the “auxiliary funds transfer” to bail out the dumpster fires that are ECU football and basketball. Who knows, maybe with another $10 million, ECU can beat Tulsa in football and Tulane in basketball. But then again, maybe not.

Without ECU football?...There would not be a Medical School that could generate that income. We are in a completely different paradigm than UC. ECU football is the economic machine here in a rural area. It excites a wide fanbase in Eastern NC that supports ECU in dozens of way economically. At UC there are dozens of machines that have zero to do with the University that do that. I fully understand that you could not understand our situation. Thankfully..Leadership here understands the importance of Pirate Football. Dont worry about us...We will be fine.

(12-06-2018 07:01 PM)PuddlePirate Wrote:  These are non appropriated funds and do not come from tuition but from fees. It is quite legal.

...and from what I understand?...The majority of students are perfectly fine with the increases if it brings back Pirate Football to the forefront. Even they understand how important it is to Eastern North Carolina. ECU is NOT like ANY of our conference mates. Loyalty and regional pride are what we are about. Not a single school in our conference has a large footprint of fans surrounding their school. Honestly...We are somewhat similar to what you see in SEC programs in that regard. That is why we (until we destroyed the program) had such great crowds at each game. If MH is successful?.. You ain't seen nothing yet.

Kick ECU out. The time has come

(12-07-2018 06:42 AM)M1T4 Wrote:  Kick ECU out. The time has come

Why? Because we are investing $20 M into athletics? We are building an IPF, upgrading basketball arena, and have our new football expansion

(12-07-2018 06:42 AM)M1T4 Wrote:  Kick ECU out. The time has come

Larry Porter says 'hi'.

(12-07-2018 06:42 AM)M1T4 Wrote:  Kick ECU out. The time has come

Indeed. Got to get rid of us now that we've come to our senses, are putting some focus on athletics, and will be whomping up on Memphis again soon.

(12-07-2018 06:56 AM)Carolina_Low_Country Wrote:  

(12-07-2018 06:42 AM)M1T4 Wrote:  Kick ECU out. The time has come

Why? Because we are investing $20 M into athletics? We are building an IPF, upgrading basketball arena, and have our new football expansion

It’s time to put y’all down

In 30 days, this will be a non-event to everyone but the ECU athletics department.

great news...would like to see EZU back at the top of the standings.

(12-07-2018 09:22 AM)M1T4 Wrote:  

(12-07-2018 06:56 AM)Carolina_Low_Country Wrote:  

(12-07-2018 06:42 AM)M1T4 Wrote:  Kick ECU out. The time has come

Why? Because we are investing $20 M into athletics? We are building an IPF, upgrading basketball arena, and have our new football expansion

It’s time to put y’all down

Lot of saltiness is this thread. Usually conference mates are glad when another school are making strides to improve themselves. But hey thats cool. Its only going to get worse when we are back.

(12-07-2018 09:53 AM)pcm0103 Wrote:  

(12-07-2018 09:22 AM)M1T4 Wrote:  

(12-07-2018 06:56 AM)Carolina_Low_Country Wrote:  

(12-07-2018 06:42 AM)M1T4 Wrote:  Kick ECU out. The time has come

Why? Because we are investing $20 M into athletics? We are building an IPF, upgrading basketball arena, and have our new football expansion

It’s time to put y’all down

Lot of saltiness is this thread. Usually conference mates are glad when another school are making strides to improve themselves. But hey thats cool. Its only going to get worse when we are back.

its the usual trolls who remember what it was like when EZU was good and Memphis was 2-10 averaging 4K fans a game. Don't pay attention. Everyone should be happy and hoping EZU can get back to 50K+ per game. Its good for everyone.