The University of Cincinnati’s sports program will need up to $11 million in new funding every year to be competitive in the Big East Conference, but it still is running a deficit every year and owes millions of dollars from past overspending.
A new report also shows that UC’s Athletic Department is losing about $3.5 million a year and has amassed a $24 million debt, mainly from a shortfall in construction of the Varsity Village complex on campus.
… UC will start construction soon on a new sports complex along Jefferson Avenue that will include football practice fields, but a potential expansion of Nippert Stadium – and whether UC can afford a project that could cost up to $50 million – looms over the program…
January 8th, 2010 at 12:09PM
Typical, except that Cincinnati has actually succeeded in winning. But clearly that wasn’t enough to solve the financial problems. This is a cautionary example for other aspiring “big time” schools.