[EricH]

Andrew, if they're out of bounds, so be it. However:

Let's say that I'm a local business owner who donated money to the team because I thought it was a good thing to sponsor. I want that money to be used by the team to deal with team business. Now, I hear that the school has shut down the team for lack of a faculty advisor. The money that I donated to the team, not the school, is being held by the school as their property. I see this news item. What do you think my response is going to be?

I am going to want that money to be either a) returned to the team or b) returned to me, unless I specifically choose to support the school, which I may or may not want to do anyway.

Same for equipment loans. Space is theirs; if they choose to lock it up, that's their choice. But as I said, if I'm local and hear this, I just might be rather annoyed.