FAMU athletics in deep debt

DEREK HORNE
DIRECTOR OF ATHLETICS
FLORIDA A&M UNIVERSITY

TALLAHASSEE, Florida -- Florida A&M trustees and administrators are determined to see the university's athletics department stop hemorrhaging money.

The department came into the 2011-12 school year almost $5 million in the hole and it has added another $1 million to its deficit this school year, Athletic Director Derek Horne reported during the trustees' Budget and Finance Committee meeting Wednesday.

"It's a huge concern," FAMU President James H. Ammons said. "We have a rich athletic tradition at Florida A&M, but at the end of the day athletics has to be self-sufficient."

Teresa Hardee, FAMU's CFO, said she does not believe the athletics department is "wasting money." She added that she doesn't know where it can cut expenses, either. "What they have to do is increase their revenue," Hardee said.

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