Penn State scorn versus Michigan State scorn

That's about a sixth of its endowment.

 

I don’t know how their endowment is structured, but I don’t think they can pluck $500 million off the top just like that. Normally a high percentage of the endowment is directed donations that can’t be moved around; it isn’t one big pile of money to spend as the university sees fit. There are also legal requirements about how much you can or can’t spend in a given year.

Not sure about it, just my read from having a bit of familiarity with other universities, but I have a feeling much of this is going to come out of the state government’s operating budget. And I wouldn’t be surprised to see some sports eliminated eventually as a budget balancer.

 

And because life is cruel and unfair and infuriating and in love with terrible irony, watch the eliminated be women's sports.

 

NOT FIELD HOCKEY!?!!!!

 

It would be an FU from the in-denial people in charge.

 

I doubt they’re writing a check for 500 mil. Bet it’s some structured settlement, total cash outlays of which total $500 million but worth, in present dollars, substantially less than that.

 

Could be structured, which would reduce the present value considerably.

 

Oh, I was just giving a sense of scale by comparing it to the endowment.

 

Do I qualify to be a finance prof now? I was looking for a job.

 

Gotcha. Either way, a shitpile of money.

 

And, yet, still not enough.