{"id":440082,"date":"2023-11-15T07:01:05","date_gmt":"2023-11-15T07:01:05","guid":{"rendered":"https:\/\/yebscore.com\/news\/?p=440082"},"modified":"2023-11-15T07:01:05","modified_gmt":"2023-11-15T07:01:05","slug":"arizona-wildcats-are-in-trouble-due-to-incompetent-financial-modeling","status":"publish","type":"post","link":"https:\/\/yebscore.com\/news\/arizona-wildcats-are-in-trouble-due-to-incompetent-financial-modeling\/","title":{"rendered":"Arizona Wildcats Are\u00a0In Trouble Due To Incompetent Financial Modeling"},"content":{"rendered":"<p>At the height of the epidemic, Arizona&#8217;s sports department received a $55 million loan, which hasn&#8217;t been repaid &#8220;fast enough,&#8221; according to the Arizona Daily Star.<\/p>\n<h2>Arizona Wildcats Are\u00a0In Trouble Due To Incompetent Financial Modeling<\/h2>\n<p>The department&#8217;s financial difficulties are a result of a larger university-wide budget deficit.<\/p>\n<p>Arizona has over a hundred million dollars in funding for its twenty sports teams. <a href=\"https:\/\/president.arizona.edu\/dr-robert-c-robbins-biography\">Robbins<\/a> has said that giving up athletics is a possibility.<\/p>\n<p>&#8220;Everything is on the table in terms of dealing with athletics,&#8221; Robbins said, according to the Daily Star. &#8220;This is an issue that&#8217;s going to require a lot of tough decisions.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The Arizona Wildcats are facing a $240M school-wide shortage after significant miscalculations in their financial modeling.<\/p>\n<p>Cuts are being considered among the school&#39;s 23 varsity teams.<\/p>\n<p>\u201cEverything\u2019s on the table in terms of dealing with athletics.&quot;<a href=\"https:\/\/t.co\/FxFzBJd4OE\">https:\/\/t.co\/FxFzBJd4OE<\/a> <a href=\"https:\/\/t.co\/or6yyTHmIp\">pic.twitter.com\/or6yyTHmIp<\/a><\/p>\n<p>&mdash; Front Office Sports (@FOS) <a href=\"https:\/\/twitter.com\/FOS\/status\/1724234468641181864?ref_src=twsrc%5Etfw\">November 14, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>A $240 million gap is astounding, and it is astounding how much financial stupidity it takes to make a mistake that big.<\/p>\n<p>\u201cClearly this is a major problem. I obviously take it very seriously,\u201d Robbins told Tucson.com. No kidding.<\/p>\n<p>\u201cI did know we were spending money, but I thought we had reserves to spend money on,\u201d he said. \u201cBut this is a big miscalculation.\u201d<\/p>\n<p>\u201cHow can it be that you were not in the know for such a long time?\u201d said one UA engineering professor. \u201cYour subordinate officers have an obligation to inform you, not on a monthly or quarterly basis, they have an obligation to inform you literally on a daily if not hourly basis if things like this transpire.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The Arizona Wildcats are facing a massive $240 million deficit because of &quot;financial modeling&quot; mistakes that wildly overestimated the athletic department&#39;s income<\/p>\n<p>And the school may be forced to cut some athletic programs as a result of their own mistake<a href=\"https:\/\/t.co\/aAPEuN5eBO\">https:\/\/t.co\/aAPEuN5eBO<\/a><\/p>\n<p>&mdash; OutKick (@Outkick) <a href=\"https:\/\/twitter.com\/Outkick\/status\/1724598087476453580?ref_src=twsrc%5Etfw\">November 15, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The athletic department at the University of Arizona is having financial difficulties in advance of its transition from the Pac-12 to the Big 12.<\/p>\n<p>In a conference with the board of regents on November 2, university president Robert C. Robbins admitted that sports was not generating the money anticipated in the wake of the COVID-19 outbreak.<\/p>\n<p>A few departments at the university are having difficulties, athletics being one of the worst, according to Robbins.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/SteveKim323?ref_src=twsrc%5Etfw\">@SteveKim323<\/a> discusses the Arizona Wildcats financial debt situation. <a href=\"https:\/\/twitter.com\/TheRealCoach_JB?ref_src=twsrc%5Etfw\">@TheRealCoach_JB<\/a> <a href=\"https:\/\/twitter.com\/Darnell_Smith95?ref_src=twsrc%5Etfw\">@Darnell_Smith95<\/a><a href=\"https:\/\/twitter.com\/hashtag\/TheCoachJBShow?src=hash&amp;ref_src=twsrc%5Etfw\">#TheCoachJBShow<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/NCAA?src=hash&amp;ref_src=twsrc%5Etfw\">#NCAA<\/a> <a href=\"https:\/\/t.co\/euZj2p5BWc\">pic.twitter.com\/euZj2p5BWc<\/a><\/p>\n<p>&mdash; The Coach JB Show with Big Smitty (@TheCoachJBShow) <a href=\"https:\/\/twitter.com\/TheCoachJBShow\/status\/1724457644629614674?ref_src=twsrc%5Etfw\">November 14, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Arizona is one of four universities that will transfer from the Pac-12 to the Big 12 in the next academic year, along with Arizona State, Utah, and Colorado.<\/p>\n<p>The whole sports department&#8217;s yearly budget is $100 million, thus to close the enormous deficit, many teams may have to be axed.<\/p>\n<p>Furthermore, because of Title IX requirements, men&#8217;s programs are frequently the first to be eliminated when athletic departments have to make cuts.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The <a href=\"https:\/\/twitter.com\/hashtag\/ArizonaWildcats?src=hash&amp;ref_src=twsrc%5Etfw\">#ArizonaWildcats<\/a> are continuing to develop and trust younger players and their offensive line is looking forward to having one of the best in the country next year! <a href=\"https:\/\/twitter.com\/hashtag\/GoCats?src=hash&amp;ref_src=twsrc%5Etfw\">#GoCats<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/CollegeFootball?src=hash&amp;ref_src=twsrc%5Etfw\">#CollegeFootball<\/a> <a href=\"https:\/\/t.co\/u5QQP5Oezs\">https:\/\/t.co\/u5QQP5Oezs<\/a><\/p>\n<p>&mdash; The Zona Feed (@TheZonaFeed) <a href=\"https:\/\/twitter.com\/TheZonaFeed\/status\/1724643992749715955?ref_src=twsrc%5Etfw\">November 15, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Athletic departments frequently have budgetary difficulties. However, this &#8220;mistake&#8217;s&#8221; scope is almost unheard of.<\/p>\n<p>It will take a very long time to make up that gap, even with entering the Big 12 and the higher financial payouts.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><strong>FOR MORE SPORTS COVERAGE-\u00a0<\/strong><\/p>\n<p><a title=\"Mets Have Confidence In Carlos Mendoza After Seeing His Tenure With Yankees\" href=\"https:\/\/yebscore.com\/news\/mets-have-confidence-in-carlos-mendoza-after-seeing-his-tenure-with-yankees\/\" rel=\"bookmark\">Mets Have Confidence In Carlos Mendoza After Seeing His Tenure With Yankees<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>At the height of the epidemic, Arizona&#8217;s sports department received a $55 million loan, which hasn&#8217;t been repaid &#8220;fast enough,&#8221; according to the Arizona Daily Star. Arizona Wildcats Are\u00a0In Trouble Due To Incompetent Financial Modeling The department&#8217;s financial difficulties are a result of a larger university-wide budget deficit. Arizona has over a hundred million dollars [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":440084,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[254],"tags":[18935,18937,18936,3888],"class_list":["post-440082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nccab","tag-arizona-wildcats","tag-arizona-wildcats-financial-issues","tag-arizona-wildcats-news","tag-college-basketball-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/posts\/440082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/comments?post=440082"}],"version-history":[{"count":0,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/posts\/440082\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/media\/440084"}],"wp:attachment":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/media?parent=440082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/categories?post=440082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/tags?post=440082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}