Tuesday, August 9, 2011

Ohio State Buckeyes Paid Tressel Over $21 million; Why He Was Actually Not Paid What He Was Worth

Today it's being reported that Jim Tressel was paid over $21.7 million over his ten-year contract with Ohio State University.  Sound like a lot? Not really when you average it out over the ten years and then look at what Ohio State actually took in via revenues during that time.

If you just average it out over his ten  years, it's roughly $2.17 million per year.

What's the expected budgeted revenue for JUST the football team for the 2011-2012 school year?


In 2010-2011, revenues were $51,839,260.

In 2007-2008, revenues were $65,016,000 (roughly)

In 2003-2004, revenues were $46,242,355

Now, NO ONE spends more on their football program than Ohio State.

In the 2005-2006 year, Ohio State's revenues were $60.8 million vs $32.3 million.  That's still a profit of $28.5 million.  That was in a year where they fielded 36 varsity sports on campus (16 more teams than the average D-1 school), and the profits from football help all these sports across the board.

A few years ago, those revenues helped to build new facilities for many other sports: new lacrosse stadium, aquatic center, new building to house both the basketball and hockey teams, a new track, and a new baseball stadium (that's not everything).

The athletic program, despite all its expenses across the board, is self-sufficient in a way that very few other schools are.  That's without cutting sports/athletes.  They have their football program to thank for that, and honestly, Tressel as well.

So tell me, in all that, why Tressel shouldn't feel that he is justified in the money that he made? If anything, he could have easily justified more money.  Football is the cash cow, and it gets fattened up when you have a winner.  I'm sure those in charge of the budget at OSU weren't sweating his couple million a year in an environment when his teams brought in so much more.

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