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Revenue has nothing to due with his statement....he only mentioned what the EXPENSE is for putting a football player thru OSU in 4 years.....
His is doing nothing different that what many companies do: allocate SG&A (overhead) to direct costs......
A construction company has direct material and direct labor....they also have people in the office that process the paperwork and other things. The company cannot directly assign the the admin costs to a specific project so they come up with an overhead rate that is allocate based upon direct labor typically.....
OSU has direct costs - tuitiion, housing, books, etc.....they also have indirect costs - training staff, facilities, etc.....they allocate the indirect to the direct to come up with the $1m figure.....I am not saying the $1m is correct but his premise is spot on.....
Right, the premise for telling half the story.
"Tonight, my butt's sore." - Mike Krzyzewski 11-29-11
A lot of the expense he claims dosen't really impact the players.... Much of the money for the weight room, was made to help sell other students on the facilities. Much of the cosmetic stuff is not for the players.... the cost of the upgrade of the stadium, how does that benefit the Football Players?
As far as Flying, it is a minor expense to what they make for the game.
This post was edited by Ez6378 11 months ago
I aim to please...to bad I have bad aim.....
Well, since an expense is a debit, the other side of the ledger would be a credit....which in this case would be either accounts payable or cash depending on when they paid the expense......your debit have to equal your credits and they must equal....
Once again, revenue has NOTHING to do with his comment of how much is spent on an football player....
The cost of the upgrade to the stadium would be captialized and depreciated.......I would not include in an overhead calculation......I could make an arguement for a % of the weight room cost being allocated to the football team......flying would be a direct cost.......
At the end of the day, there are costs in excess of the direct expenses that should be calculated into what it costs OSU to put a football player thru 4 years of college.....what those costs and amounts are I have no idea without access to their books.....
Yeah this is a crap argument and totally flawed. Many of these athletes are working 14-18 hours a day on film, lifting, practice, classes, projects, papers, etc. These guys are working two full time jobs with sports and school. They're worshipped and idolized but they earn it. They also are not eligible for workers comp if they get an injury that is life long. They should be entitled to compensation for money they EARN. This isn't a handout it's earned.
I am former military in the army infantry. Yes it's miserable and dangerous, but it's still a choice. You can use the military as a spring board for a better life or as a career. We also don't celebrate the workers who build roads, bridges, buildings, police, EMTs, etc.
I love Colin but he's swimming in money and talking about how it's not his problem how much other people make. So why now is he citing military service to argue against compensating college football players? One has nothing to do with the other. In this country you are compensated for your work and for earnings generated. Enough is enough.
Your talking about double referring to double entry accounting and I am referring to an income statement and a balance sheet. both of which I can tell you are more interesting and telling than a simple ledger. You can only see half the picture by looking at the ledger and that's my point about it being a flawed premise. And as for that ledger, no one following GAAP is applying expense to an individual for things like team physician salary, trainers, travel, etc. Every student athlete is not their own cost center.
OT. Every time I see that headline, I have to remind myself that Cowherd is not actually dead. I see what I want, I guess. Man, I am just getting too old. lol
The closest that I will ever get to a Buckeye ring or Gold Pants. Saw it sold on e-bay April 29, 2011 for $8500.
You are asking how an upgrade to the stadium benefits the players? Playing in the Shoe has to be one of the most amazing feelings in the world. I get goosebumps just seeing it from the freeway. You are really reaching a ton here. You argue like my girlfriend. Leave out all facts and common sense.
So if they are injured the bachelor degree is taking away? You are missing one of the most important points. Nobody is putting a gun to these kids heads and making them play. They do it on their own.
I guess I haven't stated my premise clearly enough, so here goes: Gene Smith can and does allocate indirect costs to the direct cost of paying the scholarship of a 4 year football player, which he says is $1m for that period. I don't necessary agree with that amount....the accounting correct which is all I was saying because someone questioned whether or not this could be done......
Your premise is that all the money (expenses) that is spent on these football players then turns into revenue. This is a correct premise and every company does this HOWEVER this has nothing to do with the comments by Gene Smith saying they allocate indirect costs to come up with the $1m figure and if that is correct accounting.....
The football team is a profit center.......where indirect costs are allocated from the SGA.....I could also make an argument the each football player is a cost center within that profit center.....I wouldn't do that personally, but I could see someone who loves metrics to set it up that way....
Living in Canton....... I made an excellent point to your Girlfriend last night, and she swallowed my argument completely. Lol
Anyway, my point is valid, and goes hand in hand with your point.... That the Shoe is an awesome place to play, but, the only way they can expand it is because we come to see the Players/Team and they provide the income to expand. Also, the better the Team does, the more the donations The University receives......
If our Players were the caliber of Mount Union, the stadium would never sell out....
I don't disagree with your points, I guess the question would be, how much revenue does the Team make off each Player..... I would imagine they bring in $15 to $20 Million during their time. Which would include Tickets, TV, Radio, Donation to the School and Sales of Merchandise.....
How many guys have made the NFL without going to college? It's not a luxury it's a necessity. Baseball has minor leagues for guys who aren't college material.
I know that's not true because my girlfriend is grossed out by semen.. (hangover reference)
I have always agreed with the stance that they get enough and should be content. The problem, though, is that they don't have the ability to work for spending money like other students do. They therefore are often stuck with no money to go to a movie, go on a date, or go out to eat. It is not an easy thing to solve.
By the way, loved the usual suspects, Keyser:)
Mine is grossed out by the penis, well at least mine!
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