UNIVERSITY OF NEW MEXICO

December 7th, 2017 | by College AD
UNIVERSITY OF NEW MEXICO
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UNM has been in a lot of trouble over their athletic department’s debt. Now they have a plan to pay it back. The information surfaced after legislatures put the university’s acting president in the hot seat. From less people in the stands and overestimating ticket sales, UNM Athletics in now in a pricey predicament, $4.7 million worth. Abdallah said the main issue the Athletics Department had was overestimating ticket sales. So, the committee made one big request: “Tell us how we’re gonna fix this.” “There’s two ways that we can pay this thing… One is either by generating more revenues, the other is cutting more costs,” Abdallah replied. In the current plan, he said UNM is discussing with the Higher Education Department to use more revenue from ticket sales. Another option according to Abdallah, “Transferring from other reserves, being able to pay off this debt, basically, so this debt is no longer going to be on our books.” The deficit plan is not yet finalized. UNM will be presenting the plans to the Board of Regents in January, who would then have the final say. -Rebecca Atkins, KRQE, Read More

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