Home japan financial crisis Samson: Pac-12 loan program provides safety net if there is no college football in 2020

Samson: Pac-12 loan program provides safety net if there is no college football in 2020

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On Wednesday, the Pac-12 plans to put in place a huge loan program that would provide safety blankets to sports departments that have been affected by the COVID-19 pandemic. This program is offered in the event that the 2020 college football season is canceled. The loan will be $ 83 million available to Pac-12 schools at an interest rate of 3.75 percent for a term of 10 years.

On Wednesday’s episode of “Nothing Personal with David Samson,” David Samson weighed in on the conference’s decision and believes it is simply a crutch for schools that may be affected by the difficulties of ‘potentially zero college football in 2020.

“These teams are in trouble. I understand what the Pac-12 wants to do and why they are doing it,” Samson said. “But if the Pac-12 players believe that by definition this new loan will mean their demands will be met, I have bad news for you. They are not related in any way. This is to try to cover up. shortfalls due to lost income from having fans in the stands and the possibility of not playing college football this season.

As Samson points out, a large portion of an athletics department’s income comes from college football. For example, the state of Oregon depends on football for about 80% of its annual sports income, and Utah generated $ 86 million from college football last year.

If the college football season ends up being canceled or even reduced, that loan could be huge for many Pac-12 schools.

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