Washington AD Committed To Improving Scheduling Penn State Not Planning On Alcohol Sales Jim Delany Remains Focused In Growing Role Ohio State Beer Sales Exceed $1M In First Year Bowlsby Raises Questions About CFP Selection Criteria Undefeated Western Michigan In Bowl Game Negotiations UH Regents Chair Blasts Big 12 Expansion Process Liberty's Hire Of McCaw Kept Secret Within School Liberty Univ. Hires Former Baylor AD Ian McCaw Texas Hires Houston's Herman As Football Coach
SBD/May 2, 2012/Colleges
SMU Sees Athletic Department Debt Continually Rise Since Orsini Brought On As AD
Published May 2, 2012
WANT MORE GREAT STORIES LIKE THIS?
CLICK ON ONE OF THESE BUTTONS
MISMANAGED MONEY: Univ. of Southern Mississippi interim AD Jeff Hammond said that it “will take years for the athletics department to overcome debt of more than $1 million.” Hammond said, “It was due to a lack of leadership. It was due to mismanagement. It was due to a lack of accountability and probably a lack of creative thinking in ways to develop revenue, such as scheduling." Hammond last Friday said that the department's debt “was discovered through an internal audit.” In Mississippi, Patrick Magee noted the athletic department's budget “is about $20 million.” Hammond said that he “wasn't ready to disclose in detail what brought about the debt.” However, he added that he and his staff “have taken new measures to make sure that the university works within its means to help shrink the budget shortfall.” Hammond also said that he “plans on looking into football and basketball road games that could be revenue producers for USM.” Hammond in January replaced retiring AD Richard Giannini, who had been with the school for nearly 13 years (HATTIESBURG AMERICAN, 4/28).