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Post by luckydawg on Aug 24, 2023 0:32:50 GMT -5
Agree with this. Stanford's massive endowment is not going to be spent on any athletics. It doesn't need to be. If someone donates $5 million to Computer Science, that is $5 million less they have to invest from other sources, that are then available for other things. It is not very hard to be creative and find the money when you are sitting on that size of endowment, regardless of how much of it is earmarked. I'm not sure if you understand yet how endowments work in the real world, even at Stanford. First off the principle can rarely be touched. The endowment generally pays out about 4% a year for whatever the donor and the university agreed to. Being "creative" with the money is called breach of contract. At best, bad publicity "creates" an atmosphere where future and potential donors don't give. At worst, the donation may have to be refunded to the donor, with interest. Either way, the "creative" mind will be unemployed. Ask the former Stanford sailing coach about being financially creative.
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Post by baytree on Aug 24, 2023 0:40:01 GMT -5
Agree with this. Stanford's massive endowment is not going to be spent on any athletics. It doesn't need to be. If someone donates $5 million to Computer Science, that is $5 million less they have to invest from other sources, that are then available for other things. It is not very hard to be creative and find the money when you are sitting on that size of endowment, regardless of how much of it is earmarked. I agree with your basic point. But IMO, whether they can "find the money" depends to a great extent on how much money they need to find, for how long, and how much lead time they have to find it. If they need to find e.g., 15M for five years, they should be able to do that fairly easily. If they need to find $100M, that would be harder and, at the very least, would probably require a fair amount of lead time bc they've already planned to spend the $5M donation elsewhere, even before they got the gift (if they knew about it in advance or if the total donations in a year were similar to donations in prior years).
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Post by brooselee on Aug 24, 2023 0:42:50 GMT -5
Maybe Stanford and Cal don't care if the next few years are failures for them. They just want a place to call home. If they end up on the bottom of the ACC, so what?
Better than being stuck in the MW or AAC.
Holding on for the next realignment to take place and they can at least say they are with the big boys.
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Post by oldnewbie on Aug 24, 2023 0:46:48 GMT -5
It doesn't need to be. If someone donates $5 million to Computer Science, that is $5 million less they have to invest from other sources, that are then available for other things. It is not very hard to be creative and find the money when you are sitting on that size of endowment, regardless of how much of it is earmarked. I'm not sure if you understand yet how endowments work in the real world, even at Stanford. First off the principle can rarely be touched. The endowment generally pays out about 4% a year for whatever the donor and the university agreed to. Being "creative" with the money is called breach of contract. At best, bad publicity "creates" an atmosphere where future and potential donors don't give. At worst, the donation may have to be refunded to the donor, with interest. Either way, the "creative" mind will be unemployed. Ask the former Stanford sailing coach about being financially creative. You really didn't follow what I wrote at all. The "creative" part has nothing to do with violating the terms of an endowment. The Stanford sailing coach was not being financially creative, somebody else was and was using him to commit a crime. If that $6.5 million walked through the front door at Stanford as an offer to endow the sailing team contingent that she is accepted, then where are we right now? The coach wrote a book about being the scapegoat for something that should not have been a problem if it was done just a little differently and with the school's involvement.
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Post by luckydawg on Aug 24, 2023 0:52:11 GMT -5
A 2020 Stanford Q&A from when they tried to eliminate 11sports Stanford Athletics : 20. Why doesn’t the university use some of its endowment to keep these sports? While Stanford may be perceived to have limitless resources, the truth is that we do not. In general, athletics has been a self-sustaining entity on our campus, and we are striving to preserve that model in a time when budgetary support for our academic mission is already under significant stress. Academic and administrative units across the university already have been planning budget cuts of up to 10% in response to the university’s constrained resources as a result of the COVID-19 pandemic. The vast majority of Stanford’s endowment is directed toward specific long-term uses, including need-based financial aid for students, and is not available to backfill an ongoing structural budget deficit in a specific department. In addition, the endowment is meant to last in perpetuity, providing for future generations of Stanford scholars and faculty members. 21. Athletics has its own endowment and a number of generous donors. Why not tap into that money to keep these sports? While it is true that Stanford Athletics benefits from a robust community of generous supporters, their philanthropy simply could not cover the escalating costs of ensuring excellence across the board in our 36-sport model any longer. Similar to the university’s endowment, the vast majority of the Stanford Athletics endowment is directed toward specific long-term uses, including scholarships for student-athletes. Even with those endowments and their annual proceeds, Stanford’s varsity athletics budget is smaller than that of many of our athletic peer institutions, most which will still offer fewer varsity sports than will Stanford.
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Post by Riviera Minestrone on Aug 24, 2023 1:00:56 GMT -5
Maybe Stanford and Cal don't care if the next few years are failures for them. They just want a place to call home. If they end up on the bottom of the ACC, so what? Better than being stuck in the MW or AAC. Holding on for the next realignment to take place and they can at least say they are with the big boys. Stanford has 134 NCAA championships; 3 this past year. Two of them came from being in the MPSF Conference...which hosts certain Olympic sports. Most of those are in the Western geographical region. The other was Women's Rowing, which has an East Coast heritage. Moving to the ACC might even enhance Stanford's recruiting for that sport. Berkeley has a stellar history and reputation in aquatic sports. Bears are an eight-time champion in men's swimming and diving; a 16-time winner in men's water polo (an MPSF conference sport); a 4x women's swimming champ, etc. Their recruiting might be greatly enhanced (and their brand) by being in the ACC in certain sports (such as their 4-time Women's rowing champs).
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Post by luckydawg on Aug 24, 2023 1:01:17 GMT -5
I'm not sure if you understand yet how endowments work in the real world, even at Stanford. First off the principle can rarely be touched. The endowment generally pays out about 4% a year for whatever the donor and the university agreed to. Being "creative" with the money is called breach of contract. At best, bad publicity "creates" an atmosphere where future and potential donors don't give. At worst, the donation may have to be refunded to the donor, with interest. Either way, the "creative" mind will be unemployed. Ask the former Stanford sailing coach about being financially creative. You really didn't follow what I wrote at all. The "creative" part has nothing to do with violating the terms of an endowment. The Stanford sailing coach was not being financially creative, somebody else was and was using him to commit a crime. If that $6.5 million walked through the front door at Stanford as an offer to endow the sailing team contingent that she is accepted, then where are we right now? The coach wrote a book about being the scapegoat for something that should not have been a problem if it was done just a little differently and with the school's involvement. By definition, using endowment funds for something it was not intended is the definition of violating the terms. Using our $5m Computer Science example, it pays out approx $200,000 per year. Reducing the CS budget by that amount to fund athletics, much less the $5m principle, would not fly with the department, the donor or the university. The best hope to find this kind of money is the president's discretionary fund. That just means a lot of unhappy alumni.
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bluepenquin
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Post by bluepenquin on Aug 24, 2023 7:44:48 GMT -5
Seems like Stanford, Cal, and SMU are willing to join the ACC for less money than the rest of the conference. Sounds like it is up to the ACC accepting - specifically one of the following (NC State, North Carolina, Clemson, Florida State) switching their votes.
As of now - I think this is going to happen.
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Post by slxpress on Aug 24, 2023 7:50:09 GMT -5
Seems like Stanford, Cal, and SMU are willing to join the ACC for less money than the rest of the conference. Sounds like it is up to the ACC accepting - specifically one of the following (NC State, North Carolina, Clemson, Florida State) switching their votes. As of now - I think this is going to happen. The North Carolina soccer coach came out with a blistering critique of allowing them to join. At most schools that wouldn’t matter all that much. He’s just the soccer coach. But at North Carolina it matters, given that Anson Dorrance is arguably the most successful NCAA coach of all time in any sport.
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Post by VolleyballMag on Aug 24, 2023 8:05:10 GMT -5
Farewell tour or not, Stanford feature coming later this morning.
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Post by Gladys Kravitz on Aug 24, 2023 8:34:50 GMT -5
Stanford respects it's athletes and the travel burden placed on them will be enormous. They arethinking long and hard before they do this. They have a 36.2 billion endowment which could carry their teams for a couple of seasons as a independent and wait for things to settle down before they join any conference. Stanford respects its athletes? Hayley HodsonWashington does not care about its athletes, They are grasping harpies who are getting 50 cents on the dollar for their next move. The travel their athletes will have to deal with is horrendous.
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Post by slxpress on Aug 24, 2023 8:37:38 GMT -5
Washington does not care about its athletes, They are grasping harpies who are getting 50 cents on the dollar for their next move. The travel their athletes will have to deal with is horrendous. That makes no sense to me. At this point Stanford would be willing to join the Big 10 with no media compensation. They’ve already said as much about the ACC.
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Post by Gladys Kravitz on Aug 24, 2023 8:40:08 GMT -5
Stanford respects it's athletes and the travel burden placed on them will be enormous. They arethinking long and hard before they do this. They have a 36.2 billion endowment which could carry their teams for a couple of seasons as a independent and wait for things to settle down before they join any conference. Having a massive endowment does not mean it's discretionary in spending. Donations of this type generally have very specific uses. A $5 mil donation to Computer Science does not help athletics. They have few paying fans in the revenue sports and ranked 10 out of 12 in attendance SI.comI hate arguing with idiots but since the season has not started yet I will indulge you. CLEVELAND – The Stanford Cardinal secured its 26th overall LEARFIELD Directors' Cup back on June 13 and finished 2022-23 with 1412.00 total points after the College World Series. Stanford claimed three national titles – men's gymnastics, women's rowing and women's water polo - while also tallying five top-3 finishes (women's swimming and diving, women's golf, softball, women's tennis, and men's outdoor track and field). Overall, Stanford scored in 3 of 4 countable sports, along with 15 additional total sports. The following scores were removed – women's cross country and soccer, women's gymnastics, men's indoor track and field, wrestling, women's outdoor track and field, and fencing - due to the maximum additional sports to be counted is 15. nacda.com/news/2023/6/28/directorscup-stanford-captures-learfield-directors-cup.aspx
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Post by Gladys Kravitz on Aug 24, 2023 8:43:22 GMT -5
Washington does not care about its athletes, They are grasping harpies who are getting 50 cents on the dollar for their next move. The travel their athletes will have to deal with is horrendous. That makes no sense to me. At this point Stanford would be willing to join the Big 10 with no media compensation. They’ve already said as much about the ACC. I am talking about Washington here,,,,,,,,,,,,,,,can you read and understand the English language? luckydawg is a Washington homer. If you cant follow threads please do not comment on them.
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Post by slxpress on Aug 24, 2023 8:54:33 GMT -5
That makes no sense to me. At this point Stanford would be willing to join the Big 10 with no media compensation. They’ve already said as much about the ACC. I am talking about Washington here,,,,,,,,,,,,,,,can you read and understand the English language? luckydawg is a Washington homer. If you cant follow threads please do not comment on them. Who cares if luckydawg is a Washington fan? Your comment still makes no sense. You’re the one having the difficulty following the thread. It’s already been reported on here that Stanford told Cal, Oregon State, and Washington State they had no interest in adding teams to reconstitute the PAC, and would instead look to join the ACC while declining any media rights if necessary. You’re making a dumb argument.
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