Is Florida State actually broke… or is the internet bad at reading financial reports?
Sportico called FSU the “Debt King,” Gus Malzahn retired, and chaos immediately followed.

It was a busy week in college football.

Sportico dropped a headline claiming Florida State became college sports’ “Debt King” in FY25, and Seminole Twitter went into full panic mode while rival fans celebrated like they just won something meaningful. 💸😬

Oh — and Gus Malzahn retired, quietly closing the book on another coaching chapter that somehow still turned into an FSU discourse moment.

On this episode of Garnet & Old, we break it all down:
- What the Sportico “FSU debt” report actually says vs. how it’s being misused online
- Why debt ≠ broke (and how modern college athletics really works)
- How FSU’s facilities, revenue, and realignment strategy fit into the big picture
- What Malzahn’s retirement means for the ACC (and why FSU fans are… unaffected)

If you read the headline and yelled “WE’RE FINISHED” — relax.
If you celebrated — also relax.

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