Originally Posted by improbus
Could they fund 28 sports? Also, I'm guessing that Penn State's 1.5 billion is already spoken for. Penn State's non football and basketball sports cost $9.1 million (and that doesn't count the coaches salary, student aid (scholarships), recruiting, and game day experiences. I think they would pay for some of the sports, but without football, their athletic department would look a lot more like a MAC school.
BTW, that website is really interesting. It has a line item account of OSUs football budget. It isn't nearly what you would think.
Assuming it's the general endowment fund, no it isn't spoken for. In fact, many schools are criticized because they don't use their endowments toward anything other than as a a means of showing what an impressive school they are. It's said that many schools with
endowments over 1 billion could allow students to attend for free or at greatly reduced rates just from a portion of the investment earnings on the endowment, but choose to reinvest those earnings instead. The only way donors can ensure their donations are being spent and not being held onto is by making a special purpose endowment, like toward a professorship, or in Paterno's case, the library. But special purpose endowments that come with restrictions on how the money is spent aren't usually considered part of the general endowment fund.
Penn State is rich enough to be able to fund their other sports without football and without becoming "a MAC school," although as I've noted above, there are MAC schools that compete for national championships without a big time football program.