A lot has happened in the last week. It has been a while since I have sent an update and I wanted to fill everyone in on recent progress and setbacks. This past week I had discussions with President O'Brien and David Barger, the athletic director. During our discussions, I learned that Carson Newman Althetics made a very big blunder by constructing the new football stadium and complex based upon pledges and not money in the bank. The edn result of that was the main donor backed out due to Carson Newman not meeting a stipulatioon that was set by the donor to give the money. This donor backed out and left Carson Newman with about a $5,000,000.00 loan on the new complex. What does this mean to us? This means, that in the infinite wisdom of the administration, CN drops the wrestling team to try to save money because the stadium has strapped them financially. Likewise, through our discussions with O'Brien and Barger, we have been given one and only one option to save the wrestling program. They want us to raise enough money to fully endow the program. They say that the program needs $100,000.00 per year to keep it at the competive level that it has achieved to this point. This means that we need to raise $2,000,000.00 to endow the program. For those of you who may not understand how an endowment works, the seed money (our $2,000,000.00 that we will raise) goes into an interest bearing account and this seed money is never used. The yearly interest that is produced by the account would be approximately $100,000.00. This $100,000.00 in interest is the money that would then be used every year to fund the program. So, we need to raise $2,000,000.00. Not only does the administration want the program to be endowed, but they want the endowment to be in place for 1 year before they will bring back the program. During our meeting, I asked if we raised $2,100,000.00 could we use the additional $100,000.00 to immediately reinstate the program and then we wouldn't have to wait an additional year. The administration agreed to this. So, in reality we need to raise, $2,100,000.00 to save the program.

This morning, I was interviewed by Scott Casber on Takedown Radio TV, which is a nationally broadcast program about wrestling. We had approximately a 15 min interview, and he plugged us really hard. He asked everyone to give to the program and gave out my contact information. Likewise, during the interview, I tried to show that we can save Carson Newman's Wrestling program at 1/4 of the cost that it took to Save ASU's program and what is projected to reinstate the University of Oregon's program. (Both of those program's cost over $8,000,000.00 to endow.)

We are still taking pledges, and we are assembling a board of directors for the Carson Newman Wrestling Endowment Fund. I would like the board to be composed of influential members who can make things happen adn who are willing to work to save this program. The board will be composed of 10-15 people. As soon as the entity "Carson Newman Wrestling Endowment Fund" has been formed we will start taking real donations and conveting the pledges.

Today, I had a conversation with Chris Vandergriff, who is full of ideas to help as well as one of Chris's friends, Buddy Landel. Some of you may now Buddy from his professional wrestling days. Buddy and I spoke for about 30 mins about the program and how we can save it. Buddy is also full of ideas and has a large number of influential contacts. Buddy and I are going to have a meeting on next Satruday to discuss plans to raise money and to save the program. Buddy is very energized about helping us and wants to make a differenc. Likewise, Chris and I are going to attend the High School wrestling coaches scheduling meeting on Tuesday to address the regional high school coaches for support.

Although, the goals that we have in front of us are lofty and road may be tough, I am not now nor have I ever been a quitter. We need to band together and save this program. It is too important to our regional wrestling and to the state of wrestling in general. Thank you for your support and keep up with the suggestions and pledges. Remember to contact anyone that you can and tell them about our struggle and ask for hlep.

Thank you all,
Paul