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RoosterAttack

Stanford?

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Some Stanford alumni must have came through huge on this one.  Very impressed by the teams ability to get the word out to the right people and some financially comfortable alumni willing to step up to help.  Hopefully the schools now willing to do their part to make it work. 

Edited by MadMardigain

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7 hours ago, JHRoseWrestling said:

We should take that 10M and endow a program at a school that really wants wrestling.  Swimming upstream gets exhausting.

Not sure the people who donated to the stanford would be ok with that. And every school that really wants wrestling all ready has a program.. and most of them dont "really want" wrestling

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2 hours ago, Idaho said:

I hope those that donated to this were assured that if a goal was met they would keep wrestling. Initially Stanford said fundraising would not save the programs. 

It doesn’t seem they’ve actually donated yet, just “pledged”?

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On 10/31/2020 at 9:34 PM, JHRoseWrestling said:

We should take that 10M and endow a program at a school that really wants wrestling.  Swimming upstream gets exhausting.

PSU and tOSU don't need another 10 million. This type of fundraising is what all programs around the country should preemptively be doing.  

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A 10 million dollar endowment - figuring 5% usage per year - would provide $500,000 per year for ONE program.  So if they are wanting to provide enough revenue for TWO wrestling programs that figure would have to be, at the very least, double that amount.  And they would still need to raise more funds to cover the annual expenses of an NCAA Div I wrestling team as $500,000 (these days) is not going to cover all of their expenses.

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Recent figures at FSU at approximately 1.2 million expenses with 500k in revenue. At 10 million you could keep afloat for about 14-15 years with no further donations. It would be ridiculous for Stanford to reject this when it is of no cost to them. 

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17 minutes ago, Idaho said:

Recent figures at FSU at approximately 1.2 million expenses with 500k in revenue. At 10 million you could keep afloat for about 14-15 years with no further donations. It would be ridiculous for Stanford to reject this when it is of no cost to them. 

Actually, since that endowment money would obviously be invested and yield a return of at least 3 % that million dollars would provide enough revenue for ONE program to survive indefinitely.  Three percent of 10 million is $300,000 annually.    But again - that would fund ONE team.

What I was reading here tho was that they, i.e., the wrestling fans here, are talking about them funding both a men's and a women's wrestling team.   Not sure if Stanford is going to okay either one.  Last I heard from Stanford was the return of the wrestling program had two chances..................slim and none.

Edited by Bronco

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Would a school actually NEED to go with the usual ~3% per year? That is done to perpetuate the endowment. Couldn't they utilize maybe 10% which would give them a given number of years (I'm not a financial person so I don't know what that would give us) and then rely on future additional donations or the school coming to it senses? Or realizing the sport itself may have a limited life span.

Edited by gimpeltf

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23 minutes ago, gimpeltf said:

Would a school actually NEED to go with the usual ~3% per year? That is done to perpetuate the endowment. Couldn't they utilize maybe 10% which would give them a given number of years (I'm not a financial person so I don't know what that would give us) and then rely on future additional donations or the school coming to it senses? Or realizing the sport itself may have a limited life span.

Stanford's internal policies for endowments calls for a target withdrawal rate of 5.5% but the actual payout varies based on fund performance. 

https://fingate.stanford.edu/managing-funds/endowments

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7 hours ago, Bronco said:

Actually, since that endowment money would obviously be invested and yield a return of at least 3 % that million dollars would provide enough revenue for ONE program to survive indefinitely.  Three percent of 10 million is $300,000 annually.    But again - that would fund ONE team.

What I was reading here tho was that they, i.e., the wrestling fans here, are talking about them funding both a men's and a women's wrestling team.   Not sure if Stanford is going to okay either one.  Last I heard from Stanford was the return of the wrestling program had two chances..................slim and none.

3% return. That’s worse than terrible. S&P over the past 20 years is 6% and the Dow Jones is 7%. Should get a return of 5-10%. That combined with revenues is close on its own from day 1. 

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8 hours ago, Bronco said:

Actually, since that endowment money would obviously be invested and yield a return of at least 3 % that million dollars would provide enough revenue for ONE program to survive indefinitely.  Three percent of 10 million is $300,000 annually.    But again - that would fund ONE team.

What I was reading here tho was that they, i.e., the wrestling fans here, are talking about them funding both a men's and a women's wrestling team.   Not sure if Stanford is going to okay either one.  Last I heard from Stanford was the return of the wrestling program had two chances..................slim and none.

What's your source? What did you hear?

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Money talks. If they actually have $10 million in legit pledges to build an endowment, the program isn’t going anywhere. It doesn’t matter if it’s only subsidizing 50 percent-that’s still a huge discount and presumably they would work to build up the endowment over the coming years. If it’s $10 million promised from 200 people over the next 25 years or something, that’s another story. 

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7 hours ago, CoachJSS said:

What's your source? What did you hear?

I heard the same thing you did.  Stanford said it would make no difference if funds were raised and their decision to cut those athletic programs at Stanford was final (including wrestling).

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If Stanford won't take the 10 million I say they look across the bay to Cal.  Would be a colossal middle finger to Stanford to see Cal get a program up and running.  I know it's not realistic, but fun to think about.

 

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1 hour ago, OR said:

If Stanford won't take the 10 million I say they look across the bay to Cal.  Would be a colossal middle finger to Stanford to see Cal get a program up and running.  I know it's not realistic, but fun to think about.

 

What about UC Davis?

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