What will it take to save St. John's Basketball from permanent mediocrity & irrelevance?

SLYFOXX1968 said:
I’m surprised Tx Redman ‘s post about the Finances of the University didn’t get more comment . Despite Propaganda to the contrary , it seems Moody’s, KPMG all agree the School’s Finances are solid and able to withstand a paltry sum of $ 8-$ 10 million to oust CMA . How come ?
Click to expand...
Hey I’m a proponent that if we have a 750 million dollar endowment why not spend 200-250 million of it to build a new on campus arena. What are they saving the money for a rainy day? 🤪
 
TX Redman said:
For those asking about the financial standing of the University, 2021 audited financials are here: https://projects.propublica.org/nonprofits/display_audit/848820211

Quick take: Audited by KPMG, clean audit. Revenues exceed expenses for the two fiscal years reports. Liquid with $65MM in cash. Positive cash from operations. $80MM bank line of credit (Note 6, P19), fully available. Well capitalized, $1.1B in Net Assets and $658MM in debt. Note $187MM in new debt issued in 2021. Moody's rates SJU debt "A3", which is medium investment grade.*

Post Covid, 2022 financials should look even better.

If SJU chooses to pay off CMA, they most certainly have financial wherewithal to do so. They do not need outside funds but of course will take your donation! However, often when someone makes a bad hire or bad contract extension, it's not easy to do a "mea culpa", eat that nasty crow and reverse course. The best thing students, fans and alumni could do would be send a very clear message to the Board of Trustees that change is needed. https://www.stjohns.edu/about/leadership-and-administration/board-trustees

Challenge is how to best get the message to the Board? Maybe start with Change.org and show there is support? There are members on this forum who interact with the Board...

* In March 2022 Moody's wrote: "The university's very good brand and strategic positioning as a large, urban, private Catholic university located on several campuses in the New York Metropolitan area. The university's prudent fiscal practices underpin good operating margins and healthy EBIDA margins with the achievement of better than budgeted outcomes in most years. Sizeable financial reserves and high levels of internal liquidity provide a sound cushion for operations"
Click to expand...
"The best thing students, fans and alumni could do would be send a very clear message to the Board of Trustees that change is needed."

Hey I tried, I even created a thread, but no one else is posting on the thread, only so much I can do.
lol
 
SJUWillRockNYC said:
"The best thing students, fans and alumni could do would be send a very clear message to the Board of Trustees that change is needed."

Hey I tried, I even created a thread, but no one else is posting on the thread, only so much I can do.
lol
Click to expand...
I think they are aware. Now will it be pitino is a different question.
 
Eric said:
I think they are aware. Now will it be pitino is a different question.
Click to expand...
I guess the BOT cant be fired right? Not saying all but the ones who are clueless to what Rick would do for the program.

Guaranteed he'd get our first win in the ncaa Tournament since Barkleys, Postells and Thorntons last season, he'd rejuvanate the SJU fans/alumni, the kids that aren't basketball fans once SJU basketball is big time and they're the talk of the school they will want to see this great basketball team that their peers are so excited about. NYC would be going to msg for SJU and would be sellouts every game.
Back in the 80s & 90s teens and young men in their 20s would be talking about SJU in the parks. You want the young generation talking SJU? That's been a dead issue for a longggg time.
Get Rick, get studs to play at SJU, become a top 10 team most year, NCAA Tournament, some of those years have some deep runs. May I dare say get a Championship? That's what will get the young generation to get excited about SJU basketball, like how we were.

Are the BOT that freaking clueluss or do they not give a shit? It just boils my blood.
 
SJUWillRockNYC said:
I guess the BOT cant be fired right? Not saying all but the ones who are clueless to what Rick would do for the program.

Guaranteed he'd get our first win in the ncaa Tournament since Barkleys, Postells and Thorntons last season, he'd rejuvanate the SJU fans/alumni, the kids that aren't basketball fans once SJU basketball is big time and they're the talk of the school they will want to see this great basketball team that their peers are so excited about. NYC would be going to msg for SJU and would be sellouts every game.
Back in the 80s & 90s teens and young men in their 20s would be talking about SJU in the parks. You want the young generation talking SJU? That's been a dead issue for a longggg time.
Get Rick, get studs to play at SJU, become a top 10 team most year, NCAA Tournament, some of those years have some deep runs. May I dare say get a Championship? That's what will get the young generation to get excited about SJU basketball, like how we were.

Are the BOT that freaking clueluss or do they not give a shit? It just boils my blood.
Click to expand...
I’m going to miss you when Quick Rick is not hired.
 
I think we have the right people in place to make the tough decisions. Let’s see how this plays out.
 
If a Coaching change is not made , we hsve several options this BOT might like : First , we could go Radical and drop BB completely in Div 1 and drop to Div 3 . It would enable us to renew a 50 year hiatus and begin to play NYU in BB . Second , we could drop out of BE and form a Vincentian Schools only league of St John ‘s, DePaul and Niagara . 3 Schools only . Play DePaul and Niagara 15 times each during the season . It would eliminate the need for our Braintrust to schedule any OOC opponent . Making Mike Cragg’s job easier . Once the league becomes established the top 3 teams would get bids to the NCAA’s
 
It has been years since SJU admitted they were at a disadvantage recruiting in the big east because of inferior facilities. Since the money is not there for any significant improvements the only option to raise the programs profile is hiring Pitino.
No other candidate willing to take the job will be capable of making any marked difference. Consider hiring Pitino as an investment because the school is unable to raise the dollars needed to compete on an even level.
 
SLYFOXX1968 said:
I’m surprised Tx Redman ‘s post about the Finances of the University didn’t get more comment . Despite Propaganda to the contrary , it seems Moody’s, KPMG all agree the School’s Finances are solid and able to withstand a paltry sum of $ 8-$ 10 million to oust CMA . How come ?
Click to expand...
I think the university can afford a buyout but by most standards, StJ is behind many universities in terms of endowment and financial resources, and maybe would not priortize making that investment.
 
Money can fix all these issues. If you don't want to spend the money on facilities then hire the most high profile coach.
 
bamafan said:
Hey I’m a proponent that if we have a 750 million dollar endowment why not spend 200-250 million of it to build a new on campus arena. What are they saving the money for a rainy day? 🤪
Click to expand...
Sorry Bama but endowment money is better spent on non-sports related things. I'd rather see St. John's ranked in the top 100 academically than top 50 in basketball.

The size of the gym or training facility is irrelevant in today's college basketball environment. Players don't sign up for 4 years in the same gym anymore. The real good players are considered non-NBA candidates if they stay at the same school more than 2 years.

The rest of the good players want to play and learn from a respected coach. They will go to schools like Gonzaga, Saint Mary's, Davidson, Villanova, Georgetown, Providence, etc. that don't have arenas holding 10,000 fans and in cases like Georgetown and Seton Hall, campus arenas that barely hold 3,000 people.

There's a better chance that one day St. John's will once again have Chief Blackjack rolling out the cigar store Indian and our returning to our Redmen nickname (including this site) than ever seeing the construction of an on-campus 8,000 seat arena.

If this program ever returns to being a perennial NCAA tournament program that is nationally ranked every year in the top 30 our games would be scheduled for Madison Square Garden and UBS arena that is 15 minutes from the campus.
 
You must log in or register to reply here.
Back
Top