The Pac-12 is planning a loan program that would allow each of the conference's member schools to receive up to $83 million. The loans, which could total nearly a billion dollars, would be available in the event that the college football season is canceled. Here's what an anonymous source told the Mercury News:
"“The conference is trying to be nimble and give schools some options’’"
If you can get approval on a 10-year loan for $83 million, that means the bank is supposed to believe you can pay them back like $10 million a year every year for the next decade. I don't know what the exact payments would look like, but they would be massive and are great proof of what big business college football is. With that kind of money you could buy a jet ski for every single student athlete.
I cannot wrap my head around schools needing that much money to basically keep everything afloat for one lost season. As previously noted, that's jet ski money. There is just so much damn money involved that it makes perfect sense that the Pac-12 football players should want a piece of the pie.
Based on some research (Googling) I have determined that Pac-12 schools have somewhere around 600 to 900 student athletes each. It's a ton of people to house and feed and send to school. Then there are a bunch of coaches and trainers and tutors and untold other resources that must be paid for. I really want to scream EIGTHY-THREE MILLION FOR WHAT!? but I guess it's feasible that is the amount it would take to pay for all that.
It seems like it would make sense for college sports to get a bailout, just like pro sports might still need. If you want to make a billion seem reasonable, just take it out of a few trillion.