G
Guest
Guest
TerryP said:FWIW, Scout.com is reporting Grobe is staying at WF...posted 9:45, EST.
If that is true, someone screwed up big time. Grobe had already said yes. I wonder if the leak was premature and upset him...The announcement of the news was an issue with Grobe, but I understood that he had said it was go.
We shall see.
On the Endowment issue, schools don't draw against endowments to pay for coaches. It is not legal unless the endowment was for a coach.
Sure, there are people who could pay $600,000 for a coach, but the endowment is not indicative of individual wealth...as I said, Asbury has a $150M endowment and it is a graduate school that prepares preachers, most of whom make significantly less than $50,000 /yr.
31,500 is an indication of how seriously they take their football...their fan base is not large and given the low level of interest traditionally, it is not likely that they have any individual donors who would fork over $600,000 /yr for a coach.
Keep in mind that endowments are often from corporate donors and are earmarked for certain things....A major hospital may donate $50M for a scholarship for med school students. Occasionally you have a wealthy person who leaves their money to a school for funding in a particular field - particularly true at research universities like Wake. Dr. Bland left 3.5M to the med school and 3.5M the law school. That is where you get $1B endowments, not John and Jane Doe making a donation for athletics.
Wake Forest contributors tend to be much more concerned with academics than athletics. They are the Vandy of the ACC.