The Tennessean has an article today about the settlement between Belmont and the Tennessee Baptists, and one of the best parts is a quote from Marty Dickens, Belmont’s Board of Trustees Chairman:
Dickens said the payout actually is worth about as much as a $5 million offer the university made to the convention two years ago.
Belmont could invest $4.2 million now and make the $250,000 annual payment for the next 40 years off the earnings, he said.
With the $1 million the university will pay the convention upfront, Belmont’s out-of-pocket costs would be $5.2 million under that scenario.
Ha! Nice little final jab at the Tennessee Baptists. Sort of, “See? If you’d only taken the same settlement two years ago, you could’ve avoided this whole PR nightmare.”
