That’s from the Knight Commission, which reports: “It’s clear that college sports has a spending problem that must be addressed,” said William E. Kirwan, Knight Commission co-chairman and chancellor of the University System of Maryland. “In the aggregate, athletics spending continues to escalate while instructional spending has remained stagnant and has even decreased at many institutions. The current economic climate and the needs of our universities require a change in this imbalance.”
And pretty much simultaneously, Big Bobby Mulcahy’s gang of money wasters in the Rutgers Athletic Dept. announced five new hires. What is so shocking — disgusting — is that simultaneous with real decreases in spending on academics at Rutgers, spending on sports is skyrocketing. And all those new expenditures are in the red because Rutgers has an annual loss on sports over $10 million, possibly much over. (The University still declines to provide meaningful financial reports for the major money losers, that is, football and men’s basketball.)
Meantime, signs mount that NJ voters are sick of the state’s indebtedness (as in the $100+ million slated to be poured into the wasteful, extravagant football stadium expansion). Per Bloomberg News: `The state is seen as being overextended in its debt,” said Joseph Seneca, an economics professor at Rutgers University’s Edward J. Bloustein School of Planning and Public Policy in New Brunswick, New Jersey. …New Jersey, the 11th-largest U.S. state by population, has the third-biggest debt load relative to personal income, or $32 billion. The amount has tripled in a decade as governors sold bonds to help balance budgets and avoid tax increases.
Consider that the unofficial RIP for the stadium expansion, particularly as experts warn that the NJ economic realities will only worsen next year.
The only real question is why the BoG has not officially pulled the plug on the stadium expansion — and other than that the BoG is dominated by cretinous jocksniffers, we don’t have an answer.