Vols’ athletic department faces deficit
College athletics: Tennessee’s athletic department posted a $3.98 million deficit for the 2011-12 fiscal year that forced it to use a substantial portion of its financial reserves, department officials acknowledged Monday.
Although the athletic department made $106.5 million in revenues, it had $110.5 million in expenses. Those expenses included hefty buyouts to former athletic director Mike Hamilton, football coach Phillip Fulmer, men’s basketball coach Bruce Pearl and baseball coach Todd Raleigh. When Hamilton resigned in June 2011, he received a $1.3 million buyout over three years. Fulmer received a buyout of $6 million over four years after getting fired in 2008.
Tennessee also has more than $200 million in outstanding debt related to the construction and renovation of various athletic facilities on campus.
The deficit, first reported Monday by The Sports Animal radio station in Knoxville, caused the athletic department’s reserves to dip to slightly below $2 million.
New athletic director Dave Hart indicated he is evaluating all aspects of the athletic funding process to create a “sustainable financial model” that would build a reserve while drawing down debt service. Hart noted that Tennessee’s current reserve amount falls well below that of its rival schools, and he believes the department’s current financial model isn’t sustainable in the long term.
Steps toward rectifying the shortfall included the school’s decision to consolidate the men’s and women’s athletic departments earlier this year.
U.S. women lose, still advance
Miscellany: The United States advanced to the quarterfinals at the women’s under-20 World Cup despite losing 3-0 to defending champion Germany in Group D at Rifu, Japan.
The U.S. will face North Korea in the quarterfinals on Friday.
• WNBA’s Dream hires Williams: The Atlanta Dream have hired Fred Williams as their new head coach and general manager, replacing Marynell Meadors.
Williams will immediately replace Meadors, who helped lead the U.S. Olympic women’s basketball team to a gold medal as an assistant coach on the national staff earlier this month.
• Wife of Minnesota coach says husband is innocent: The wife of the Minnesota State, Mankato, football coach accused of child pornography says her husband is innocent and that she hopes authorities will reconsider the charges against him.
Todd Hoffner faces two felony counts related to child pornography after authorities said they found nude images of the 46-year-old’s children on his cellphone.
His wife, Melodee Hoffner, says the images on the video are innocent and that she and her husband were “in shock” when he was arrested.
• Bunbury out for season: Sporting Kansas City forward Teal Bunbury will miss the rest of the season after tearing ligaments in his left knee during a draw with the New York Red Bulls.
The injury occurred Sunday night as Bunbury was leaping in the air to set up Kei Kamara for a goal.