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.