UNC Unveils Plan For Former Athletes To Graduate C-USA Set To Offer Full Scholarships To Athletes NCAA Removes Cap On Player Payments In EA Case Tennessee Sees Increase In Football Ticket Sales Mountain West Can Coexist With Power Five Bowlsby Speaks Of Bleak College Landscape Swofford Confident In Autonomy Vote S. Carolina Rolling Out Basketball Tix Campaign NCAA Proposes New Governance Structure North Texas Expands Football Alcohol Sales
Upcoming Conferences and Events
SBD/May 2, 2012/Colleges
SMU Sees Athletic Department Debt Continually Rise Since Orsini Brought On As AD
Published May 2, 2012
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).