Monday, August 28, 2023
My speculations about bankruptcy for WSU football.
I wonder who WSU athletics debt is owed too? Banks or internal university, state of Washington funds?
If to an outside bank, that could bring up the topic of potential bankruptcy. I wonder if bankruptcy could protect the rest of the university from having to fully pay off that debt?
Most officials would probably think these questions are premature. They are now focusing on the unknown future which involves probably moving to another conference now that the Pac 12 has broken apart. Also potential new sources of revenue from the constantly changing media landscape; internet media and so forth beyond ticket sales.
They are also focusing on this season with the Pac 12 still functioning. The changes in the conference start next year. I've never been a sports fan, myself and it does seem like an unnecessary burden to me.
Western Washington University, here in Bellingham, did away with it's football program during a round of state mandated cuts. Unlike at WSU, football at Western was never that large and I don't think it was ever seen as a net revenue generator. I don't think it ever payed it's own way like a business.
At WSU, I think football payed its own way till recent times when the stakes got higher and it became more expensive to to keep up with the Jones.
A few months ago, I got to thinking WSU should have gone to a less costly, "high stakes" conference before incurring that debt, but hindsight is better than foresight.
Now that situation has come to pass as it looks like WSU will find itself in a different football conference now that the big schools that are closer to big cities, like Seattle and Los Angeles, are planning to leave the Pac 12.