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Eagle26

Pitt coach

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Actually, significant capital improvements (like a new or rennovated wrestling facility) are often funded via the endowment of the institution. If it were enough of an institutional priority, the president and trustees of the university would commit the necessary funds to build a championship wrestling program via the endowment irregardless of wrestling-specific fundraising.

 

This is, in fact, exactly how endowments work.

The Caruso Wrestling Complex, a $4.1 million renovation in Grace Hall in the space previously occupied by the Ulrich Student Center, features a state of the art wrestling practice room, weight room, study spaces, locker rooms and offices for Lehigh’s nationally-ranked wrestling team. The 18,000 square-foot facility was funded entirely by private donations.

 

Let's see if Pitt can do that...

 

 

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Hi everybody,

 

I did some brief research into Pitts endowment, totalling in the neighborhood of 3.5 billion. I shared it with the board as it is relevant information that Pitt is a financially solvent institution with significant resources, and especially relevant in the echo of a "demand" for facility improvements.

 

At no point did indicate improvements couldn't be made soley through earmarked donations nor did I express an understanding that an endowment was money sitting in a checking account available for immediate withdrawal when they want to fix up the wrestling room to attract a hot coach.

 

Not sure why some had such a hard time with the sharing of information, but this concludes my participation in this discussion.

 

See you next time.

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The way it really works... universities are not willing to dip into their general endowment funds to build wrestling facilities. Wrestling fans generate wrestling-specific funds to build the facility and/or reinstate the sport. Pitt's endowment may be $3.5B, but how much of the is truly earmarked for wrestling-specific spending? Talk is cheap... how many of the Pitt faithful are willing to put up funds to this extent?

 

Penn State:

Penn State continued wrestling's building boom last month when it opened the Lorenzo Complex, a $4 million training center funded by donors. An anonymous donor provided the bulk of the money and requested the center to be named for Lorenzo, the Nittany Lions' coach from 1979-92.

 

Cornell:

The $3.5 million facility is named for two Cornell alumni who made the lead gift toward the building, Stephen Friedman, who was appointed to the Bush administration in December, and his wife, Barbara Benioff Friedman. Stephen Friedman is a former Cornell wrestling star and 1959 graduate. Barbara Friedman, also class of 1959, has been a university trustee since 1993 and currently is co-vice chair of the Cornell Board of Trustees.

 

Bucknell:

http://www.bucknell.edu/news-and-media/2016/august/graham-building-opens.html

 

 

 

 

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Edited by lu_alum

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Coaching salaries are ridiculous. Of course - basketball coaches have to babysit a team of chucklehead kids. Wrestling coaches get the most dedicated and diehard kids in their sport

 

 

GuyuteThePig

HTP

 

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so true

 

Heard some of those basketball players were so poorly behaved that they got drunk on a team trip and ordered hookers to come to their hotel rooms

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so true

 

Heard some of those basketball players were so poorly behaved that they got drunk on a team trip and ordered hookers to come to their hotel rooms

Yeah, but lets not forget how street smart those chuckleheads are.  They paid up front and experience a very unhappy ending.  Then they called the cops!  LOL

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The real metrics that matter is the endowment per student.

 

Pitt's endowment is only about $100,000 per student. For comparison, VMI is $240,000 per student and Princeton is $3,000,000 per student. There are a lot of schools, including other D1 wrestling schools in PA, with well above $100,000 per student in endowment and you don't see them building wrestling facilities without the funds coming from private donors and being earmarked for the project.

 

Pitt also operates a medical and law school which are very expensive schools to educate students.

 

Pitt's endowment does not make them flush with cash to spend building new wrestling facilities. No administrator is going to pull general endowment funds to fund a wrestling facility. If the school makes a significant financial commitment to the head coach, it is likely due to the ACC TV money, not because of boosters.

Edited by Pinnum

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Nowhere does it say that Pitt needs to build a completely new facility.  All Santoro said was was a financial commitment to the program and an "update" to the facilities.  Then the conversation degrades to a debate about how much Pitt's endowment is, how many students it has, etc.

 

The Fitz can (and should) be upgraded - no doubt.  But an upgrade costs significantly less than a new facility.  Further, they have the Pete right next door and it's a fairly new beautiful building.  Finally, Pitt has purchased and put in significant baseball/soccer/student facilities about 50 yards from the Pete - the room/facilites are there, its a matter of upgrading some and dedicating others to the wrestling team.

 

I really think he may be referring more to the Club and possible RTC.  Just my opinion.

 

 

so true

 

Heard some of those basketball players were so poorly behaved that they got drunk on a team trip and ordered hookers to come to their hotel rooms

 

 

OMG!  YOU GOT ME!  Sarcasm is clearly lost on you (and I even used a devil-horn guy to OVER emphasize my sarcasm)......

 

Troll.....

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The only other name I know for sure that they reached out to and was supposedly in town yesterday was Flynn.  I also hear that 2 others are on "the list" but not sure exactly who or if they were brought in to interview.

 

The new AD has a history of not being afraid to spend some money on facilities - and at a smaller school with probably less money overall to spend (Im assuming this - Im too lazy right now to research how much was invested in the facilities at EMU, how much was donated, how much was from their general fund/endowment, etc).  Further, this will be the first (or one of the first) hire for her, so hopefully she's looking to make a splash.

 

Im really hoping its Santoro, but some of the other names I've heard (Flynn included) could be pretty big for us too.  Th reality is that no matter who they bring in, the only way to kick that program in the pants is to spend some money upgrading everything.  Recruits who end up going there aren't going for the facilities, that's for sure. 

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Roselli??  Really, hard to believe that one!  Can you say any more?

I was told he interviewed in person a few days ago. Makes some sense as he is from NY and went to college at Edinboro and coached there for about decade. Perhaps he misses the northeast/midwest region.

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I was told he interviewed in person a few days ago. Makes some sense as he is from NY and went to college at Edinboro and coached there for about decade. Perhaps he misses the northeast/midwest region.

If that's really true, I'd lose some respect for him. Doesn't strike me as that kind of guy. He just committed to OU a year ago and has signed on not only assistants but also recruits. To leave after less than a year after such a big search for such a storied program would be really poor form. I'm not even sure the Pitt job is better to begin with.

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I was told he interviewed in person a few days ago. Makes some sense as he is from NY and went to college at Edinboro and coached there for about decade. Perhaps he misses the northeast/midwest region.

I suspect someone was pulling your leg

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Gotta be someone in the know out there!!  Does anyone have a sense of timing here?  I would think w Santoro telling his whole team they gotta move quickly--

Edited by Bilchuk

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Gotta be someone in the know out there!! Does anyone have a sense of timing here? I would think w Santora telling his whole team they gotta move quickly--

All SantorO did was acknowledge to the team that was going for an interview at his alma matter. Stand up thing to do, rather than doing it all behind closed doors - particularly since it's been in the press. He also told them it was UNLIKELY that he would go to Pitt unless they committed to a significant investment in the program.

 

My understanding is that Santoro and Flynn are being interviewed this week, with the current interim co-coaches being interviewed next week.

 

 

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