Pac-12 provides for a loan program that would allow each of the conference member schools to receive up to $ 83 million. The loans, which could total nearly $ 1 billion, would be available if the college football season is canceled. Here is what an anonymous source said to the Mercury News:
“” The conference is trying to be nimble and give schools options ” “
If you can get approval for a 10-year $ 83 million loan, that means the bank is supposed to believe you can pay them off like $ 10 million a year every year for the next decade. I don’t know what the exact payouts would look like, but they would be huge and would be great proof of what big business college football is all about. With that kind of money, you could buy a jet ski for every student-athlete.
I can’t understand how schools need so much money to keep everything afloat during a lost season. As stated before, it is money for the jet ski. There is so much money at stake that it makes perfect sense that Pac-12 football players want a piece of cake.
Based on some research (on Google), I determined that Pac-12 schools have around 600-900 student-athletes each. That’s a ton of people to house, feed and send to school. Then there are a bunch of coaches, trainers and tutors and other untold resources that have to be paid for. I really wanna shout EIGHT THREE MILLION FOR WHAT !? but I guess it’s doable that’s the amount it would take to pay for it all.
It seems that it would make sense for college sports to get a bailout, just like professional sports might still need. If you want to make a billion look reasonable, just take it out of a few trillions.