USC Buys Carol Folt A House For $8.6 Million

Can USC afford to give spring sport athletes another year on scholarship?

Will the coronavirus pandemic have an adverse financial effect on the athletic dept.?

Who cares? USC can afford to buy Carol Folt a tony Santa Monica house for $8.6 million!

Nice tone-deaf purchase, especially with 10 million people losing their jobs. Is Max Nikias still president?

What really makes this funny is the excuses USC gives: “Last year, the university made the decision to purchase a smaller, more sustainable property for the president’s residence.” USC said in a statement provided to Variety. “It made financial sense to downsize to a less expensive, more efficient property.”

Sources tell me Folt just wanted to live by the beach instead of the president’s house in San Marino.

Remember when USC leased Folt a house in Santa Monica, it said it was paying $335,000 a month because she needed a place to entertain guests. Her new house is on .19 acres and 4,700 square feet per Dirt.com. The San Marino house is 14,000 square feet and 8 acres.

You can entertain a lot more people in 14,000 square feet.

The other excuse when Folt originally moved to Santa Monica was that the San Marino house needed retrofitting. Sure.

An apologist will say the price doesn’t matter because USC will sell the San Marino estate for more than $8.6 million.

But here is the real problem: Seeley G. Mudd left the San Marino estate to USC in 1979, with the stipulation that it house the university president.

Another USC tradition goes by the wayside.

Photo/Realtor.com

13 thoughts on “USC Buys Carol Folt A House For $8.6 Million

  1. It sounds to me like the Board of Bustees are trying to buy her off and bring her over to the dark side. Isn’t that the way things work at USC…..be a ‘yes man/woman’ and we’ll reward you handsomely for selling your soul to us.

    Liked by 3 people

    1. Juist Rent,

      I know you have never the streets of Norwalk, but do your self a favor and go to the library and look at a book with pictures of San Marino. We know you can’t read, so just ask the librarian. She will help you find the book. Some homes in San Marino can make Beverly Hills look like a dump. Very nice area.

      Like

  2. Nothing makes USC, and the board of trustees look worse, then the fact that Max Nikias still has an office, and draws a paycheck from the university. So buying a $9 million dollar home for Carol Folt couldn’t be anymore embarrassing then that

    Liked by 1 person

  3. If someone at USC and on the BOT was smart they would have leveraged Folt’s desire to be by the ocean.

    Folt: I want a house by the beach.
    BOT: Not gonna happen.
    Folt: I said I want to live by the beach.
    BOT: If you want a house by the sea, fire Helton and hire Meyer.
    Folt: Is that all it will take?
    BOT: Fire Helton, hire Meyer and I’ll give Caruso a kick in the pants to let you have your pick of beach homes with the bill to USC.
    Folt: One last thing, do I have to give the UCLA game ball back?

    #ImagineHowNon-FootballRelatedNegotiationsWithPresidentFoltGo

    Like

      1. Haaa.
        She is short. I remember him in the movie “Willow” as wizard. Man you’re right she’s close to being a dwarf.

        Like

  4. Legal Q – if the house was left to USC with the stipulation that it must be used to house the USC President, does that mean that it reverts back to the estate if the USC President does not live in it?

    Like

  5. In these tough times USC can spend 8.6mill for bech house so Folt can live near by.
    NOW you know where your donations go– not to USC but privilege.
    KEEP your donations coming– USC will not see any of it… $$$ for the privilege

    Like

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