CU Foundation Gives $10MM for Facility Upgrades

[Quattro]

University of Colorado President Bruce Benson directed the CU Foundation to donate $10 million to the athletic department toward the push for $143 million in facilities upgrades in and around Folsom Field.

The gift — made in January — is the largest ever given to the CU athletic department, and it helped push athletic director Rick George past the halfway point in early February toward achieving his goal of at least $50 million in private funding before going into the bond market for the rest of the money for the project.

http://www.buffzone.com/cu-news/ci_25428551/cu-foundation-gave-10m-toward-folsom-field-upgrades

Just a few more weeks

 

[Darian3Hagan]

How sad is that?

dont get me wrong it's about time the school supported the AD but it's sad that the school doesn't do it every year.

 

[SD Buff]

They do give to the CU AD every year with a sizeable subsidy. Are you suggesting they donate an additional 10M a year too?

Hell, some schools it's the profitable AD that donates to the school.

I understand the administration has made many mistakes over the years, but the entitlement of our fan base in relation to our collective support is really off balance imo

From phone

 

[Darian3Hagan]

They do give to the CU AD every year with a sizeable subsidy. Are you suggesting they donate an additional 10M a year too?

Hell, some schools it's the profitable AD that donates to the school.

I understand the administration has made many mistakes over the years, but the entitlement of our fan base in relation to our collective support is really off balance imo

From phone

Define sizable.

 

[SD Buff]

LINK

 

[Darian3Hagan]

LINK

Thanks i I found the exact same article. How much of this money is expected to be paid back?

 

[SD Buff]

Don't know. Back during the Hawkins non firing there were rumors of a horse trade with the subsidy increasing significantly. Dont know if this number reflects the loans the CU AD had to take from CU or if this is yearly subsidy.

Regardless of the number, they do give. My hope is someday we are the big boy program that is making so much money from our success and rabid fan support , the AD won't need a subsidy and can donate to CU.

From phone

 

[Darian3Hagan]

Don't know. Back during the Hawkins non firing there were rumors of a horse trade with the subsidy increasing significantly. Dont know if this number reflects the loans the CU AD had to take from CU or if this is yearly subsidy.

Regardless of the number, they do give. My hope is someday we are the big boy program that is making so much money from our success and rabid fan support , the AD won't need a subsidy and can donate to CU.

From phone

Well Bama still subsidizes around $5m and Oregon $2m so I hope the school keeps investing in their front porch.

 

[onealcd]

Didn't Benson also donate a lot of money to the project himself? I thought him and Slick Rick both doneted themselves at the beginning to show others they were behind the project.

 

[SD Buff]

500K to the CU AD.

 

[Lt.Col.FrankSlade]

Why two months to release this info?

 

[JimmyBuff]

This seems like good news.

 

[BuffClass90]

I assume this is toward the "down payment" part of the project. Is it good news we need help from the foundation and can't raise the funds outside of it? I really don't know how all that works.

 

[absinthe]

500K to the CU AD.

Was it per year for the next three years? or over the next 3 years? I recall that time frame, or maybe that was what George donated.

 

[absinthe]

Why two months to release this info?

consciously trying to stagger the news in order to keep it in front of fans.

 

[Dark Bohner]

Sounds good. But I still haven't heard anything definitive. These people have been releasing crumbs of fund raising information for months now. I honestly don't care. Just tell me if the goal is complete and the shovel will be in the dirt by the deadline. Or if the deadline comes and they haven't hit the fundraising target, then give me an updated timeline and don't bother me. Rinse and repeat.

 

[SD Buff]

Believe it was 100K for 5 years.

 

[BlackNGold]

How sad is that?

dont get me wrong it's about time the school supported the AD but it's sad that the school doesn't do it every year.

The president's office donates every year to the AD - it has been around $3 Million per year. The donation from the foundation is different.

 

[InTheBuff]

Didn't Benson also donate a lot of money to the project himself? I thought him and Slick Rick both doneted themselves at the beginning to show others they were behind the project.

Slick Rick donated to CU ??? really ?? I won't believe it unless somebody can provide a link/proof

 

[prime teets]

Slick Rick donated to CU ??? really ?? I won't believe it unless somebody can provide a link/proof

Rick George

Sent from my SCH-I545 using Tapatalk 2

 

[rosstr]

They do give to the CU AD every year with a sizeable subsidy. Are you suggesting they donate an additional 10M a year too?

Hell, some schools it's the profitable AD that donates to the school.

I understand the administration has made many mistakes over the years, but the entitlement of our fan base in relation to our collective support is really off balance imo

From phone

Are you on drugs? The entitlement comment is asinine.

 

[SD Buff]

OK

From phone