The notion that you can legally take an asset from your employer, sell it at a profit, and keep that profit yourself while paying the employer only the face amount of the ticket--assuming he did even that--is simply nuts. It is called theft. The profit belongs to the school, it is not a bonus. I will also bet the farm that he never paid income tax on the profits. The victims here are the school, from which he stole, and the fans, who were given worse seats. I have been a Red-White club member from inception, and a member of the Loughlin Club as well, and have had my season ticket locations moved several times , all to my detriment. I always wondered what was going on. Now it is apparent. It is also a reflection of the incompetent management of the University at every level, especially the Athletic Dept. This stuff should be picked up in yearly audits and tight internal controls. By the way, every few years, you will read about the arrest of MSG and Bway show employees for doing exactly what happened here. It is not a grey area. It is illegal.
I've been a Loughlin member for a long time. Red/White as well. I'm not sure I want to come back. It's going to be very interesting to see how the University handles this. Colleary, and others stole from the University, but they had access to this information. We had only the lies we were told.
At the end of the day, if the club that is designated to support the athletic department is being ripped off by employees of the athletic department, the University owes us the story, answers, and an acceptable resolution that begins with giving us our seats back. Or, they are going to see a lawsuit the size of which they've never seen.
One thing is for sure, it's going to be an exciting pre game reception this coming Saturday.