Truth & Rumors > NCAAF

Penn State looking to borrow $30M

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07:23 AM ET 09.20 | The financial situation is anything but rosy in Happy Valley. Penn State is taking big losses when it comes to football bowl game profits, ticket sales for home games and donations. Penn State Athletics Director David Joyner announced to a Board of Trustees committee Thursday the university may take out a $30 million loan as part of a five-year plan to restore funds to the athletics department. ... It's no secret Penn State Athletics is struggling. "It should come as no surprise," [Board of Trustees member Anthony Lubrano] said. "That's why we've sued the NCAA, frankly." Lubrano blames the NCAA. "If you go to a football game, you notice a decline in attendance, that translates into lost revenues, which translates into a loss for Intercollegiate Athletics," he said.

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Christian Hackenberg, Icon Sports Christian Hackenberg, Icon Sports
September 20, 2013  08:50 AM ET

Texas A&M just raised $740 million. Give them a call.

September 20, 2013  08:50 AM ET

Just paying the price for ignoring pedophilia.

September 20, 2013  10:07 AM ET

It's the price for letting "King Football" guide the schools decision making.

September 20, 2013  10:11 AM ET

Attendance is down, in part, because people are tired of paying big money to see games against very mediocre ooc opponents. And of course there is that pedophilia cloud hanging over the program

Comment #5 has been removed
September 20, 2013  10:39 AM ET

The NCAA's punishment is working even better than they had hoped.

September 20, 2013  11:09 AM ET
QUOTE(#6):

The NCAA's punishment is working even better than they had hoped.

MMWAHAHAHAHAHAH<gasp>BWWAHAHAHAHAHA!....

September 20, 2013  11:15 AM ET

September 20, 2013  12:15 PM ET

So where are all the Penn State alums who were upping their donations after the NCAA penalties were first announced?

September 20, 2013  02:01 PM ET

While you're at it, borrow a coupla mil for me, too.

September 20, 2013  03:45 PM ET

seems to me with all that's coming to light, maybe the universities can just ask the players for a little of the money they're getting from boosters...maybe just pass the plate at practice like in church

 
Comment #12 has been removed

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