What happens in phase 2 is besides the point. Not saying it doesn’t need to be figured out, just not the topic of the conversation. The point is, profit can’t come before collecting underpants. Triple B is basically saying that the reason we don’t invest at a comparable level to other AAC schools (collect underpants) is because we don’t have have the same level of revenues (profit). I’m saying that there is a clear causal relationship between USF’s level of athletic investment and the revenue produced. Additionally, there will be a period (years) where the expenses significantly exceeds the revenue.
Another way to think of it is, our bottom of the AAC level of investment in athletics is roughly 50% of the average in the Big 12. We would need to make a significantly larger commitment to athletic spend to be invited to the club. Look at UCF, Cincy, Houston’s level of investment over the last few years. Now look at ours and Memphis. The schools that are spending in the $70m range got invited. The ones in the $50m range got snubbed.