(above) Will the Feds be able to save Michigan Tech hockey?The Michigan Tech Athletic Department announced Tuesday that it hopes to receive a capital boost from the federal government’s Troubled Asset Relief Program for its hockey team.
The Athletic Department made its plans public “to correct what it perceives to be misinformation in the WCHA,” they said in a press release.
“Michigan Tech has, in fact, applied for participation under the WCHA Final 5 Profit Sharing Program” Tech AD Suzanne Sanregret said in a written statement. “We plan on using the funds to build a new arena, upgrade recruiting, purchase new instruments for the band, and buy more skating treadmills for the players.”
Adam Woden, senior analyst with CollegeHockeyNews.com, said he expects Michigan Tech would file an application for the maximum amount of capital based on its losing record, which equals up to $570 million.
The school did not provide an amount and said it could not project when it would receive an answer from the government.
This season, Michigan Tech, is off to a 2-13-1 start and lost last weekend to the University of Denver 6-0 and 6-1.
The Athletic Department made its plans public “to correct what it perceives to be misinformation in the WCHA,” they said in a press release.
“Michigan Tech has, in fact, applied for participation under the WCHA Final 5 Profit Sharing Program” Tech AD Suzanne Sanregret said in a written statement. “We plan on using the funds to build a new arena, upgrade recruiting, purchase new instruments for the band, and buy more skating treadmills for the players.”
Adam Woden, senior analyst with CollegeHockeyNews.com, said he expects Michigan Tech would file an application for the maximum amount of capital based on its losing record, which equals up to $570 million.
The school did not provide an amount and said it could not project when it would receive an answer from the government.
This season, Michigan Tech, is off to a 2-13-1 start and lost last weekend to the University of Denver 6-0 and 6-1.
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