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The result, analysts said, seems to be more wait-and-see as chief executive Tim Armstrong works to return the company to profitability and restore a legacy that's been tarnished by a sinking bottom line and unfruitful investments.
After the season ended, freshmen like Eric May and Cully Payne supported Lickliter, but older players like sophomores Aaron Fuller and Matt Gatens took a wait-and-see attitude.
The days of corporate sponsors taking a wait-and-see approach when their athletic endorsers become embroiled in scandals are over.
"When you are making a change in the business model, there always is a wait-and-see attitude" among shareholders, Mr. Ketchum said.
"We may think that current wait-and-see policies are adequate to the task," said Chad Briggs, Minerva Chair for Energy and Environmental Security with the U.S.
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