I can certainly see why UA is having cold feet all of a sudden. Chip Kelly continues to refuse to bring in the top tier recruits and the whole public fiasco on protection+BLM puts a damper on things. Cronin saw some improvement in the win column but he's hardly been the flashy style that brings in the moolah, publicity, and recruits as well. From these standpoints, both things harm UA's profile.
Hopefully we become a Nike school! I’d love to have Nike UCLA gear. That’s all I can think of at this moment. The UA gear is cheap for lack of better terms. The financial ramifications that will be felt within the UCLA Athletic Department; hopefully, will make the department more organic in its approach to fiscal solvency. Apparently, a lot of the things done has been on the back of donors who seem to somewhat bail the department out whenever there has been a bad hire, need for new facilities, or whatnot.
At the risk of pig-piling on and not meaning to sound cynical and bitter, but this is THE PERFECT END to Dan Guerro's Reign of Error (he said bitterly and cynically).
Seriously, as an OXY shareholder, I know first hand what it feels like when the company's numbers do a "bombs away" and revenue dries to a trickle. Missing an EPS projection of 46 cents and coming in at 13 cents is NOT a near miss; it is devastating! The management -- if not running for the lifeboats -- will want to offload as much baggage as they possibly can.
This transcends Kelly's inferior stewardship of the football team. To fend this off and the incredible (bordering on fraudulent) financial and operational mismanagement of UCLA's athletic department the new AD will probably have to engineer a string of 5-10 national championships with some in the major sports. The name of the game will be to put fans butts in the seats and that ain't happening on the school's present athletic trajectory. Looks like "social distancing" at games will become a UCLA tradition for the next few years. The new AD -- and I do sincerely wish him the best of luck -- will be miracle-worker to pull his department out of Guerro's crash-dive..
(..he said, bitterly and cynically and apologetically.)
A million things to say about this, but there's so much more to come. While it's not fair to directly blame Dan (unless the contract gives UA a legit free pass to get out), what could me more fitting for the last days of his tenure? I saw today UA is trying to dump Cal, too. It's time to sue the crap out of UA, take as big a settlement as we can, and go sign on with Nike.
And will be interesting what interest, if any, Nike has in UCLA. Nike just announced their own huge net income hit and with uncertainties throughout college sports UCLA is staring at a huge financial abyss. But I like Martin Jarmond’s energy and while this is a huge challenge, something better may come out of all of this.
For reference, almost a year ago (07/29/19), Under Armour was trading at 24.39 and closed today at 8.90 (06/29/20). Nike closed at 104.53 (01/13/20) and closed today at 95.87 (06/29/20). As you said, Nike announced a 40% fourth quarter drop.
| Nike lost $790 million, or 51 cents a share, in the fourth quarter, contrasting with
| earnings of $989 million, or 62 cents a share, in the year-ago quarter.
|
| Sales fell to $6.3 billion from $10.1 billion a year ago.
|
| Nike pinned the 38% drop on store closures due to the coronavirus pandemic
| and fewer shipments to its wholesalers, which increased inventory.
Looks like they will not be ponying up any money for colleges any time soon.
no secret that UA is hurting. I'd buy stock at that price, but no telling if it keeps going to 5. It's problems go far beyond the covid earnings problems.
I'll be very surprised if UA comes out of the pandemic solvent. Especially when American arrogance is stepping on the covid gas pedal instead of hitting the brakes..
Sadly, it looks like Donut's last days still have a Guerror-esq quality to them. While it seems this is entirely on UA trying to shuffle seats on the deck of the Titanic, it does have strong symbolism of Dan's tenure at UCLA. I'll cross my fingers and hope for the best, but I'm not holding my breath. If it does 'force' UCLA's hand and we get rid of Chip to lighten the financial load, I hope Norwood is the interim head coach and he quickly fires AZZhole. I also hopes he brings in Fisch to run the offense if whatever of a season takes place, if any.
With respect to Joe's comment that "That solution would be to invoke the Force Majeure clause of Kelly’s contract and not re-sign him," that is just not how force majeure works.
I can certainly see why UA is having cold feet all of a sudden. Chip Kelly continues to refuse to bring in the top tier recruits and the whole public fiasco on protection+BLM puts a damper on things. Cronin saw some improvement in the win column but he's hardly been the flashy style that brings in the moolah, publicity, and recruits as well. From these standpoints, both things harm UA's profile.
Hopefully we become a Nike school! I’d love to have Nike UCLA gear. That’s all I can think of at this moment. The UA gear is cheap for lack of better terms. The financial ramifications that will be felt within the UCLA Athletic Department; hopefully, will make the department more organic in its approach to fiscal solvency. Apparently, a lot of the things done has been on the back of donors who seem to somewhat bail the department out whenever there has been a bad hire, need for new facilities, or whatnot.
At the risk of pig-piling on and not meaning to sound cynical and bitter, but this is THE PERFECT END to Dan Guerro's Reign of Error (he said bitterly and cynically).
Seriously, as an OXY shareholder, I know first hand what it feels like when the company's numbers do a "bombs away" and revenue dries to a trickle. Missing an EPS projection of 46 cents and coming in at 13 cents is NOT a near miss; it is devastating! The management -- if not running for the lifeboats -- will want to offload as much baggage as they possibly can.
This transcends Kelly's inferior stewardship of the football team. To fend this off and the incredible (bordering on fraudulent) financial and operational mismanagement of UCLA's athletic department the new AD will probably have to engineer a string of 5-10 national championships with some in the major sports. The name of the game will be to put fans butts in the seats and that ain't happening on the school's present athletic trajectory. Looks like "social distancing" at games will become a UCLA tradition for the next few years. The new AD -- and I do sincerely wish him the best of luck -- will be miracle-worker to pull his department out of Guerro's crash-dive..
(..he said, bitterly and cynically and apologetically.)
A million things to say about this, but there's so much more to come. While it's not fair to directly blame Dan (unless the contract gives UA a legit free pass to get out), what could me more fitting for the last days of his tenure? I saw today UA is trying to dump Cal, too. It's time to sue the crap out of UA, take as big a settlement as we can, and go sign on with Nike.
And will be interesting what interest, if any, Nike has in UCLA. Nike just announced their own huge net income hit and with uncertainties throughout college sports UCLA is staring at a huge financial abyss. But I like Martin Jarmond’s energy and while this is a huge challenge, something better may come out of all of this.
For reference, almost a year ago (07/29/19), Under Armour was trading at 24.39 and closed today at 8.90 (06/29/20). Nike closed at 104.53 (01/13/20) and closed today at 95.87 (06/29/20). As you said, Nike announced a 40% fourth quarter drop.
| Nike lost $790 million, or 51 cents a share, in the fourth quarter, contrasting with
| earnings of $989 million, or 62 cents a share, in the year-ago quarter.
|
| Sales fell to $6.3 billion from $10.1 billion a year ago.
|
| Nike pinned the 38% drop on store closures due to the coronavirus pandemic
| and fewer shipments to its wholesalers, which increased inventory.
Looks like they will not be ponying up any money for colleges any time soon.
no secret that UA is hurting. I'd buy stock at that price, but no telling if it keeps going to 5. It's problems go far beyond the covid earnings problems.
Yeah, UA's problems existed prior to COVID. All the pandemic did was exacerbate those issues.
I'll be very surprised if UA comes out of the pandemic solvent. Especially when American arrogance is stepping on the covid gas pedal instead of hitting the brakes..
Sadly, it looks like Donut's last days still have a Guerror-esq quality to them. While it seems this is entirely on UA trying to shuffle seats on the deck of the Titanic, it does have strong symbolism of Dan's tenure at UCLA. I'll cross my fingers and hope for the best, but I'm not holding my breath. If it does 'force' UCLA's hand and we get rid of Chip to lighten the financial load, I hope Norwood is the interim head coach and he quickly fires AZZhole. I also hopes he brings in Fisch to run the offense if whatever of a season takes place, if any.
With respect to Joe's comment that "That solution would be to invoke the Force Majeure clause of Kelly’s contract and not re-sign him," that is just not how force majeure works.