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Okie State broke?

Buffnik said:
I couldn't read far enough to know what the issues are.

Is it about the bottom falling out with the value of the stock in Pickens' company?

You make it sound like the problem is that OSU didn't get the expected bang for its buck from the upgrades it has done.
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Castlerock over on Rivals summed it up perfectly.
 
Their fundraising plans didn't go as planned, but they are far from broke. Don't trust the WSJ to report accurate college sports news.
 
newkid said:
Their fundraising plans didn't go as planned, but they are far from broke. Don't trust the WSJ to report accurate college sports news.
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Didn't they say that Cal only has like 10% of the donor commitments it anticipated for the stadium financing?
 
Pickens is an epic idiot. Made a couple very successful bets that made him billions and nothing has worked out since. As he said in the article "I lost my ass in the wind business." Really he lost his ass on a bunch of different bets he just has a big ass. Willing to take incredible risks.
 
Buffnik said:
Didn't they say that Cal only has like 10% of the donor commitments it anticipated for the stadium financing?
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The two biggest problems with that story were:

They made it seem like Cal had been expecting to pay off the entire project by the time the article had been published, which was completely off base. Paying off such a massive capital project was always going to be a long term process.

When questioned, the writer admitted that her two sources were a professor at Cal who is completely anti athletics, and the loudest voice during the tree sitter debacle. As well as a disgruntled local resident who was against the construction of the stadium years ago. She then published a correction to the article.

If you talk to Duck fans, she was doing the same kind of stuff when they were building their facilities as a reporter in Oregon.
 
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If anything, these kinds of articles *should* make us re-examine our own facilities upgrades and make sure we have the funding in place to pay for them in advance. I don't want to be in a position where we're too far in debt to make a quick coaching change or minor facilities upgrade in the future.
 
OMFGasm said:
You are right Creatini.

CSU will build the stadium and we will go entirely bankrupt and have to get rid of all sports
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no what he is saying is it would be a money pit.
say Gasm if this whole stadium project goes tit's up... over under how many times we will see you after... id put it at 1 and take the under
 
buff4bcs1985 said:
no what he is saying is it would be a money pit.
say Gasm if this whole stadium project goes tit's up... over under how many times we will see you after... id put it at 1 and take the under
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Ya a money pit that will bring in millions more than Hughes and cost less to maintain. Makes sense
 
What if it doesn't earn money? Okie State was banking on future revenues that didn't materialize... what if the same happens to you?
 
dio said:
What if it doesn't earn money? Okie State was banking on future revenues that didn't materialize... what if the same happens to you?
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Naming rights-guaranteed money for years. Premium seating-I can't remember the exact number of years but its a contract for at least 5 years-another guarantee.

What "future revenue" streams are we going to be losing out on?
 
From another thread

http://blutarsky.wordpress.com/2012/07/02/more-money-than-sense/

Convinced its football stadium was too small and its basketball arena too outmoded for its fan base, Maryland over the past decade ​
expanded Byrd Stadium and added luxury suites
, and built the Comcast Center. At the time of construction, officials said the upgrades would pay for themselves through a jump in ticket revenue. Instead, Maryland’s football and basketball teams have struggled, and ​
attendance and revenue have dropped
.As a result, spending on buildings and grounds has soared nearly 78 percent over the past five years, from $4.6 million to $8.2 million, according to data supplied to the NCAA. Debt service on the construction projects alone totals $7.9 million this year — up from $6.9 million in 2010-11. That’s more than 11 percent of Maryland’s athletic department budget, and the figure escalates each year like bad credit-card debt.That’s just one line-item in a Maryland athletics operating budget that increased 24 percent over the last five years, from $49.5 million in 2005-06 to $61.6 million in 2010-11. Spending on the Terrapins’ coaching staff climbed at an even higher rate, rising nearly 30 percent, from $18.7 million to $24.3 million.Meanwhile, total revenue increased only 15 percent, from $53.6 million to $61.6 million in the same span.​
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​
 
OMFGasm said:
Naming rights-guaranteed money for years. Premium seating-I can't remember the exact number of years but its a contract for at least 5 years-another guarantee.

What "future revenue" streams are we going to be losing out on?
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How did those guaranteed naming right work out for invesco? Companies don't last forever. You are assuming that you can sell season tickets ( which you can't do very well now) luxury tickets ( when you are having trouble selling season tickets) and if you do sell those luxury tickets the owner has the ability to pay the entire contract length.
 
tante said:
How did those guaranteed naming right work out for invesco? Companies don't last forever. You are assuming that you can sell season tickets ( which you can't do very well now) luxury tickets ( when you are having trouble selling season tickets) and if you do sell those luxury tickets the owner has the ability to pay the entire contract length.
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Looks like Invesco got a new sponsor for naming rights now though didn't they?

And no, you are assuming we won't sell them.
 
I love the idea that fans who can't be bothered to come to a game if it starts at 5:00 are going to shell out additional cash for "premium" seats.... :lol:
 
AndHereWeGo.gif
 
OMFGasm said:
Looks like Invesco got a new sponsor for naming rights now though didn't they?

And no, you are assuming we won't sell them.
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As usual, you only reply to the weakest point made.

Aren't you even a little concerned about the examples of Maryland , Cal, and Okie State?
 
Denver_sc said:
As usual, you only reply to the weakest point made.

Aren't you even a little concerned about the examples of Maryland , Cal, and Okie State?
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1)Those aren't brand new stadiums
2)Our stadium has guaranteed revenue sources (naming rights, premium seating not available at Hughes, multi-use $'s)

I'm not entirely sure about Cal's situation but I believe the reason no one wants to donate to their stadium is 1) Not brand new and 2)It sits on a dangerous fault line and could fall into oblivion any time.

These scenarios are similar, but not the same. You're comparing apples to oranges
 
OMFGasm said:
1)Those aren't brand new stadiums
2)Our stadium has guaranteed revenue sources (naming rights, premium seating not available at Hughes, multi-use $'s)

I'm not entirely sure about Cal's situation but I believe the reason no one wants to donate to their stadium is 1) Not brand new and 2)It sits on a dangerous fault line and could fall into oblivion any time.

These scenarios are similar, but not the same. You're comparing apples to oranges
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Lawl
 
OMFGasm said:
1)Those aren't brand new stadiums
2)Our stadium has guaranteed revenue sources (naming rights, premium seating not available at Hughes, multi-use $'s)

I'm not entirely sure about Cal's situation but I believe the reason no one wants to donate to their stadium is 1) Not brand new and 2)It sits on a dangerous fault line and could fall into oblivion any time.

These scenarios are similar, but not the same. You're comparing apples to oranges
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impressive.
 
multi-use revenue?

bwahahahaha.

yeah, because people are lining up to fill a ****ing masoleum in fort flatlands to watch a goat ****ing contest.

multi-use?

seriously?

i'm sure the venue will be packed for tractor pulls and such.

bwahahahahaha.

and this is why we haven't banned poor gasm yet. pure ****ing comedy gold.
 
Liver said:
multi-use revenue?

bwahahahaha.

yeah, because people are lining up to fill a ****ing masoleum in fort flatlands to watch a goat ****ing contest.

multi-use?

seriously?

i'm sure the venue will be packed for tractor pulls and such.

bwahahahahaha.

and this is why we haven't banned poor gasm yet. pure ****ing comedy gold.
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I had a poorgasm yesterday behind a fat woman in wal mart.
 
OMFGasm said:
I'm not entirely sure about Cal's situation but I believe the reason no one wants to donate to their stadium is 1) Not brand new and 2)It sits on a dangerous fault line and could fall into oblivion any time.
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Perhaps this will increase your awareness:

1) We have secured many short and mid-term donations for a debt financed project such as this upgrade. More revenue is slated to come from other sources to avoid hitting general funds down the road, however, as mentioned before, it was never envisioned that we would have all the capital up front. We have plenty of rich and successful alumni...we'll be fine. Because Memorial Stadium is an historic landmark, there were multiple goals here. One was renovation/retrofit. The other was an entirely new addition (years in the making) known as SAHPC. SAHPC was added to the entire western side and is structurally separate from the stadium-the seismic retrofit of the stadium is a different phase of the project to improve the stadium and associated athletic facilities. Does this look new enough?

south-view-at-night.jpg

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2) According to your logic, since the whole state sits on fault lines, most of our universities could fall into oblivion at any time and no one should donate to their alma mater? Hmm...interesting take there.

index_map.gif
 
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liverflukes said:
2) According to your logic, since the whole state is sits on fault lines, most of our universities could fall into oblivion at any time and no one should donate to their alma mater? Hmm...interesting take there.
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what did the feasibility study say about it? see, if you dont have one of those, everything else is fake.
 
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