rlh04d wrote:I fully agree with almost all of that ... however, Loyola isn't suddenly rich. They already had this money, and they've never chosen to commit the funds to their basketball program before. We're assuming a sudden reversal in their spending. What coaches have they chosen to pay seven figures to? What coach have they stolen away? Their current coach failed at Illinois State.
Again, potential is awesome, but potential needs a commitment to being realized, and Loyola has not had that commitment. I'll believe they have that commitment when I see it.
I'm sure they told the Valley that they're committed now, and they're going to spend the money ... but what guarantees do we have? Do we kick them out if they don't start spending money? The Marlins told everyone they were going to spend money, too ... and they did for one whole year
Endowments are great and all, but they absolutely do not imply a commitment to spending money on athletics, in any way. Actions show a commitment.
I would have preferred we dealt with "potential" by requiring schools to show a commitment to spending, establishing benchmarks for the next three years to meet before being brought in. RPI improvement, SOS improvement, attendance improvement, increasing spending, etc. Show us instead of tell us. Instead we took the opposite approach.
This is false, they haven't "always been rich." In fact, they were something like $30 million in the hole in their operating budget and had to take from their endowment substantially to keep their school open (which I'm told is a very bad thing ). This was in the early 2000s.
The current president actually saved them from a financial crisis, turning them back around into the black and has spearheaded renovations and new buildings both in academics and in athletics.
I am not all too happy about picking up a school that really isn't proficient in many sports and doesn't even offer baseball, but your critique of Loyola is simply inaccurate.