Taxpayers Foot Bill for College Football Bowls
BMCWrites | December 30, 2008 at 09:50 amby
216 views | 3 Recommendations | 1 comment
Here’s a quick rundown:
- Played Dec. 20 in Washington, D.C., the Eagle Bank Bowl featured Wake Forest and Navy in a game in which the Demon Deacons won, 29-19. But the Midshipmen were not the only losers. According to Crawford, the bowl was sponsored by a bank that told the Washington Post it would seek some bailout assistance even though its financial position is fairly strong.
- Florida Atlantic defeated Central Michigan, 24-21, in Detroit’s Motor City Bowl Dec. 26. Sponsored by both Ford and GM and played at Ford Field, the game was clouded by rumors that players from both teams spent much of their free time playing golf at the not-to-far-away United Auto Workers $33 million resort.
- The Capital One Bowl, to be played New Years Day, pits Georgia against Michigan State. Probably because Michigan State is based in a Big Three automaker state, the bank sponsoring this bowl was approved for $3.55 billion in bailout funds.
- No doubt aided by a $20 billion government bailout, Citi is the sponsor of the aptly-named Rose Bowl presented by Citi which will feature USC and Penn State Jan. 1.
- Finally, and perhaps most fitting, the GMAC Bowl is sponsored by the financing arm of GM. Coincidentally — not, GMAC recently received almost $6 billion in bailout funds. What I find odd about this sponsorship, however, is the fact that the game is being played Jan. 6 in Mobile, Ala., the heart of the Foreign Auto Manufacturers Belt.
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