The Fallout From Cancelling College Football
This video is a follow up to a post that I put up last night. With conferences cancelling college football, the financial hit is going to be enormous. The fallout is going to extend a lot further than college athletics.
In this video I discuss how the billions that are at stake are quickly vanishing. It will start to affect college athletic programs, followed by enrollment. Ultimately, this will cost thousands their jobs.
▶️ 3Speak
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Summary:
In this video, Task discusses the significant impact of the cancellation of the fall football conference games by the Big Ten Conference on state budgets and schools, especially in light of the ongoing COVID-19 pandemic. He highlights the financial repercussions for schools, particularly the loss of revenue from football programs and the potential need for budget cuts in athletic departments. Task also touches on the broader implications for the higher education system, pointing out the shift towards online education and its potential effects on traditional institutions.
Detailed analysis:
Task starts by addressing the cancellation of fall football conference games by the Big Ten Conference and emphasizes that this decision will have far-reaching consequences on state budgets. He explains that the revenue from football programs, especially from appearances in bowl games, significantly contributes to schools' budgets, and the loss of this revenue could lead to financial strain for many institutions.
He mentions how the cancellation of college football could result in a loss of billions of dollars across the top five conferences, impacting not only the schools but also the NCAA and the conferences themselves. Task points out the cascading effect of decreased tax revenues for states due to the pandemic, highlighting the interconnectedness of the issues faced by schools and state budgets.
Task delves into the significance of football programs for schools, noting how successful programs can attract large sums of money through appearances and coverage. He mentions high-profile coaches like Nick Saban who earn substantial salaries due to the success of their football programs. The potential need for budget cuts in athletic departments is discussed, reflecting the tough decisions schools may have to make in the absence of football revenue.
Furthermore, Task touches on the broader challenges faced by the higher education system, including the rise of online education and its implications for traditional institutions. He suggests that the shift towards online schooling, accelerated by technologies like Zoom, could lead to more students opting for online education due to cost savings.
In conclusion, Task advises keeping an eye on secondary layer schools and private upper-level institutions outside the top tier, as they may face significant challenges in the current economic and educational landscape. The video underscores the complex financial and structural issues affecting schools and the broader implications for the future of higher education.