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Interview of Stanford head wrestling coach

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Borrelli mentioned that currently the fund-raising efforts has raised nearly 11 million dollars.  However the goal is 19 million JUST to keep the men's wrestling team funded in perpetuity.   And that they also want to fund a women's wrestling program to satisfy the gender-equity B.S.

If you click on the link above and DOWNLOAD the interview A. It takes a while to download it (couple minutes) and B. Do yourself a favor and skip about the first half hour.

 

 

 

 

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The bottom line of this interview is if it can happen at Stanford it can happen ANYWHERE else as well.   And other D-1 wrestling programs should be acting pro-actively NOW and work to start their own self-endowment funding programs to combat this..................NOW.

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Have they been told they could save the program for $19 million? This is from the FAQ:

"6. If donors step forward, can any of these sports retain their varsity status?

 

The decisions to reduce our sports offerings are final, and any future philanthropic interest in these sports may be directed towards supporting them at the club level, should they establish as a club sport after their 2020-21 varsity campaign.

 

While Stanford Athletics has many tremendously generous donors, their support simply could not cover the escalating costs of ensuring excellence across the board in our 36-sport model."

 

$19 million would kick out $750-960K a year given a 4-5% draw. If they already have some money in an endowment, that could obviously go up. In their 2018-2019 filing, Stanford claimed about $1.3 million I'm wrestling expenses. Also, they are not at 9.9 scholarships as per the announcement dropping the sport.

 

I also wonder what sort of assumptions they have built into the fundraising. Some people will surely pledge money but not actually pay if they reach their goal. I figure there's a typical shortage assumption in this sort of thing. I wonder what it is.

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Has Stanford actually agreed to continue the sport (not at the club level) if the funds are raised?

 

1 hour ago, IronChef said:

The decisions to reduce our sports offerings are final, and any future philanthropic interest in these sports may be directed towards supporting them at the club level, should they establish as a club sport after their 2020-21 varsity campaign.

 

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16 hours ago, JasonBryant said:

From sources close to the situation, Stanford's expenses were misreported by roughly 400K. They've requested to have them changed, but from what I hear, there's no actual process to make that happen.

So there is no official “agreement” between the university and the wrestling program that if they raise 19 mil they will continue as an official university sport? 

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I know William & Mary plagiarized the crap out of Stanford's release, but that doesn't make it super awesome and binding just because that's what was put out from the comm office. 

Been told if a single sport generates enough money to endow AND solve the gender equity situation, it would be enough to be considered.

I'm of the opinion that even a rich school like Stanford can't just pass on that kind of amount. They'd be foolish and contradictory to claim "money" and then just not even entertain the proposition of $19M coming into their coffers. Pretty sure all the language in that presser changes when real money gets thrown at the situation. 

 

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2 minutes ago, JasonBryant said:

I know William & Mary plagiarized the crap out of Stanford's release, but that doesn't make it binding just because that's what was put out from the comm office. 

Been told if a single sport generates enough money to endow AND solve the gender equity situation, it would be enough to be considered.

I'm of the opinion that even a rich school like Stanford can't just pass on that kind of amount. They'd be foolish and contradictory to claim "money" and then just not even entertain the proposition of $19M coming into their coffers. Pretty sure all the language in that presser changes when real money gets thrown at the situation. 

 

If Stanford was able to raise 11 million in this short of time they’d be foolish to not take that amount. Obviously they’d be able to shortly hit the 19 million mark. Did they actually raise the 11 million or was it pledges over “X” number of years? Apologies if the answer is in your podcast-going to track down the link and listen now. 

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1 hour ago, JasonBryant said:

I know William & Mary plagiarized the crap out of Stanford's release, but that doesn't make it super awesome and binding just because that's what was put out from the comm office. 

Been told if a single sport generates enough money to endow AND solve the gender equity situation, it would be enough to be considered.

I'm of the opinion that even a rich school like Stanford can't just pass on that kind of amount. They'd be foolish and contradictory to claim "money" and then just not even entertain the proposition of $19M coming into their coffers. Pretty sure all the language in that presser changes when real money gets thrown at the situation. 

 

Not to mention the money they would lose in tuition from kids leaving....which probably would be made up with kids they would offer spots to...but even that is difficult when you are asking kids to pay the money it costs to go to Stanford and take online classes from your room. 

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26 minutes ago, Idaho said:

Not to mention the money they would lose in tuition from kids leaving....which probably would be made up with kids they would offer spots to...but even that is difficult when you are asking kids to pay the money it costs to go to Stanford and take online classes from your room. 

Stanford has no issue with filling seats. In fact, they will make much more money by cutting the wrestling program and inevitably giving the admission spots to the kids of their donors. 

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2 hours ago, Billyhoyle said:

Stanford has no issue with filling seats. In fact, they will make much more money by cutting the wrestling program and inevitably giving the admission spots to the kids of their donors. 

Were the donor kids not going to get seats? 

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