The University of Maryland has launched an investigation into it's Athletic Department, and the way in which they balance their budget because they are reportedly $83 million in debt, according to Steve Yanda of the Washington Post. The big issue that faces the Athletic Department is how they balance the budget each year, and the management of a fund that houses all of their donations.That whole article is worth a read, but the most interesting part to me is about how they got to this amount of debt.
“I can just tell you — and I’m not throwing anybody under the bus and I’m not trying to make a bad comment — but I think there has long in this industry been a philosophy of ‘Get me through the next 10 years and then it’s somebody else’s problem,’ ” (Deputy Athletic Director Randy) Eaton said. “Things that we’re no longer doing here.”
I don't care what he says in the beginning of that statement, it sure sounds like he is throwing former Athletic Director Debbie Yow under the bus. It is good that they aren't doing the practices anymore that led them into this area of debt, but this is still a bad place for them to find themselves in, particularly after spending a lot of money on new coaches over the past year.