U-M AD reports surplus, Bill Martin seen sailing in gilded yacht

MGoBlue is reporting that the University of Michigan Athletic Department's 2009 budget will fund all U-M sports to the full NCAA scholarship limit, and boasts a surplus of roughly $10 million. This is after operating and capital development costs, mind you. That whole stadium thing, maybe you've heard of it. Furthermore, the athletic department will transfer $1.5 million to the University to fund need-based academic scholarships.

That's just a hell of a luxury to have. Full scholarship funding is great for recruiting, as is the ability to build new facilities.

The surplus is not only due to consistently astounding revenues at events, but in large part to the overwhelmingly generous contributions by all alumni who aren't recently graduated and scrambling to send in dues for their alumni association membership. Not that I know anyone like that.

Thank you boosters. Thank you Bill Martin. Thank you Mary Sue Coleman. Thank you anyone who has anything to do with our fine University. GO BLUE!