Just wondering. With oil going in the tank, and everything else going to ***** Could they foreclose Kyle Field?

If you truly care, start here...

https://12thmanfoundation.com/assets/pdf/AnnualReportFY2017-18.pdf

https://12thmanfoundation.com/assets/pdf/AnnualReportFY2018-19.pdf

Bottom line: a lot of money owed on Kyle

...per the link and simple math...$390Million still owed on that place.

$573.9 million in debt and 68% is in changes made to Kyle Field.

When the CBS TV contract is up and the new one is negotiated SEC teams are going to be getting $70 MM+ in just football TV revenue a year.

I wouldn't worry about the debt on the stadium.

Straight cash homey.

No Pressure said:

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West Point Aggie said:

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Bottom line: a lot of money owed on Kyle

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No worries. When you owe a bank half a mil you are ****ed. When you owe a bank half a bil the bank is ****ed. We call the shots no matter what.

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Hmmmmm I like it!

Can we save this topic link for all the threads that complain about the TMF not limiting # of tickets people could buy and commit capital contribution to?

Funny, turns out trying to raise money as quickly as you can to pay off a massive project wasn't dumb and short-sighted!

I wouldn't worry, the government will bail us out if need be

Who's "We", sucka?

We're the Joneses

Didn't JFF say when he went pro that he was going to donate $5M to A&M Football with an annual contribution of $2M? I am sure he has already done so. Are JFF's donations going towards the house he built or to endowments?

TxAG#2011 said:

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I wouldn't worry, the government will bail us out if need be

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The TMF hopefully did receive some funds from the government bailout before the funds ran out.

We should look into securing a reverse mortgage. It's really the only sensible answer.

For a good chunk of the stadium rebuild they had terms longer than 5 years. Mine in section 115 was 5 years and I am paid in full, but the entire west side, loge, zone club, suites, etc. had 7 or 10 year term. Meaning we will collect a good bit of $$ these next few years that goes straight to service the debt.

Given the revenues we are generating, plus the additional TV $ that will increase post CBS, it will not be a problem to pay off the stadium renovation in full and on time.

It was 100% pledged and committed before we turned a shovel.

The redevelopment of the stadium and the funding was impressive. Only complaint is the west side first and second level don't match the east and thus the ribbon board is off, and we for some reason use white instead of maroon for the midfield aTm and endzone lettering....

We should move Kyle to somebodies cousins house so the repo guy can't find it

I told the powers that be not to go with a "tote the note" lone. They did not listen.

Didn't donations go up to around $725 million in 2013 the year the renovation started?

Proposition Joe said:

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VatoLocoAggie said:

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Didn't JFF say when he went pro that he was going to donate $5M to A&M Football with an annual contribution of $2M? I am sure he has already done so. Are JFF's donations going towards the house he built or to endowments?

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I'm sure Johnny planned to do a lot of things when he went pro. Unfortunately he doesn't have $2M to give annually to anything.

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The house that Johnny built and he hasn't made a single payment!

Ubitag said:

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...per the link and simple math...$390Million still owed on that place.

$573.9 million in debt and 68% is in changes made to Kyle Field.

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However, if you recall the funding sources, small % from CS and Brazos County from HOT paid out over 30 year, slightly bigger % from student ticket, paid out over 30 years, big chunk from seat license paid out over 5-10 years with the extra an investment to pay out over 30 years, big chunk from 80% occupancy of the stadium paid out over 30 years.

I think a tapping into that invested chunk from the seat licenses will carry us through.

How many t-shirts would we have to sell to pay off the stadium's note?

Jarrin' Jay said:

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For a good chunk of the stadium rebuild they had terms longer than 5 years. Mine in section 115 was 5 years and I am paid in full, but the entire west side, loge, zone club, suites, etc. had 7 or 10 year term. Meaning we will collect a good bit of $$ these next few years that goes straight to service the debt.

Given the revenues we are generating, plus the additional TV $ that will increase post CBS, it will not be a problem to pay off the stadium renovation in full and on time.

It was 100% pledged and committed before we turned a shovel.

The redevelopment of the stadium and the funding was impressive. Only complaint is the west side first and second level don't match the east and thus the ribbon board is off, and we for some reason use white instead of maroon for the midfield aTm and endzone lettering....

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There are, at the least, parts of the new west side that were not a 7 or 10 year term. We moved there at the time of the rebuild / re-seating, are in armchairs, and were on a 5-year term. We're all done. (Actually, have been done for 3 years, but we doubled up in "year 4" - and finished it up - due to tax law changes.)

If the 2020 season is cancelled I'm sure the 12thMF will be completely fine making the bond payment without the ticket and other revenue to back it up.

Congrats to the most exposed financial entity that gets to rename the stadium for free.

Saltgrass said:

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Jarrin' Jay said:

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For a good chunk of the stadium rebuild they had terms longer than 5 years. Mine in section 115 was 5 years and I am paid in full, but the entire west side, loge, zone club, suites, etc. had 7 or 10 year term. Meaning we will collect a good bit of $$ these next few years that goes straight to service the debt.

Given the revenues we are generating, plus the additional TV $ that will increase post CBS, it will not be a problem to pay off the stadium renovation in full and on time.

It was 100% pledged and committed before we turned a shovel.

The redevelopment of the stadium and the funding was impressive. Only complaint is the west side first and second level don't match the east and thus the ribbon board is off, and we for some reason use white instead of maroon for the midfield aTm and endzone lettering....

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There are, at the least, parts of the new west side that were not a 7 or 10 year term. We moved there at the time of the rebuild / re-seating, are in armchairs, and were on a 5-year term. We're all done. (Actually, have been done for 3 years, but we doubled up in "year 4" - and finished it up - due to tax law changes.)

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I think a lot of people accelerated their payments in year 4 for the tax laws.

tk for tu juan said:

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If the 2020 season is cancelled I'm sure the 12thMF will be completely fine making the bond payment without the ticket and other revenue to back it up.

Congrats to the most exposed financial entity that gets to rename the stadium for free.

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Let's think about this. The seat licenses were to paid over 5-10 and account for over 40% of the 30 year note. What was going to happen to all that extra money? We got a low interest bond and invested the seat license money at a higher rate of return. Meaning, there is money in the investment to make the bond payment.

Even assuming we only have 7 of the 10 years and no one paid early, that means we brought in 21/30 of 40% of the bond. We can cover this years bond payment with the ~7 years of bond payments we have stashed. On top of that, bonds like this usually get interest payments every 6 months and the face value (principle) is paid out at the end of the 30 years. On the books, you probably want to account for and accumulate the principle over the 30 years, but you don't have to pay it out until the end.

On the flip side, the ticket sale portion (another 40+%) was funded on 80% occupancy over the 30 years. Yeah, we could be way down this year, but there is time to make up that shortfall with a nearly full stadium (90-95%) in future years.

I'm guessing the HoT revenue is down, so the university and local govts will have to work out if they defer payments on that, but it was only a few %. Same with the students if they can't go to the games.

BTW, I've heard from incoming freshman who are buying sports passes. The students will be there to the extent they are allowed.

tk for tu juan said:

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If the 2020 season is cancelled I'm sure the 12thMF will be completely fine making the bond payment without the ticket and other revenue to back it up.

Congrats to the most exposed financial entity that gets to rename the stadium for free.

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Now forming at the North end of Payday Loan Stadium at Kyle Field...

I was going to make a cash-out refinance to build a lazy river joke, but figured someone would take that too seriously

BQ_90 said:

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We should move Kyle to somebodies cousins house so the repo guy can't find it

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You can move it to my place. I'll make room.

Champ Bailey said:

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Just wondering. With oil going in the tank, and everything else going to ***** Could they foreclose Kyle Field?

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lol, sure foreclose Kyle field...what will bankers do with a sport stadium? sell it to Baylor? Texas?

TheCougarHunter said:

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Proposition Joe said:

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VatoLocoAggie said:

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Didn't JFF say when he went pro that he was going to donate $5M to A&M Football with an annual contribution of $2M? I am sure he has already done so. Are JFF's donations going towards the house he built or to endowments?

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I'm sure Johnny planned to do a lot of things when he went pro. Unfortunately he doesn't have $2M to give annually to anything.

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The house that Johnny built and he hasn't made a single payment!

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Allegedly...and he still deserves a statue outside New Kyle.

BiochemAg97 said:

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tk for tu juan said:

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If the 2020 season is cancelled I'm sure the 12thMF will be completely fine making the bond payment without the ticket and other revenue to back it up.

Congrats to the most exposed financial entity that gets to rename the stadium for free.

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Let's think about this. The seat licenses were to paid over 5-10 and account for over 40% of the 30 year note. What was going to happen to all that extra money? We got a low interest bond and invested the seat license money at a higher rate of return. Meaning, there is money in the investment to make the bond payment.

Even assuming we only have 7 of the 10 years and no one paid early, that means we brought in 21/30 of 40% of the bond. We can cover this years bond payment with the ~7 years of bond payments we have stashed. On top of that, bonds like this usually get interest payments every 6 months and the face value (principle) is paid out at the end of the 30 years. On the books, you probably want to account for and accumulate the principle over the 30 years, but you don't have to pay it out until the end.

On the flip side, the ticket sale portion (another 40+%) was funded on 80% occupancy over the 30 years. Yeah, we could be way down this year, but there is time to make up that shortfall with a nearly full stadium (90-95%) in future years.

I'm guessing the HoT revenue is down, so the university and local govts will have to work out if they defer payments on that, but it was only a few %. Same with the students if they can't go to the games.

BTW, I've heard from incoming freshman who are buying sports passes. The students will be there to the extent they are allowed.

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The assets on hand the TMF is reporting likely includes all collectibles that are already received that haven't been forwarded to the University. I won't speculate on their current position in part because the report is around a year old and snapshots like that age poorly especially when held as stocks.

I doubt this is more than one cancelled season at most. I suspect the TMF will weather the storm. And I'm guessing that if the school gets in trouble the federal government will help like they have with the Ivies.

In reality an endowment is the best method for being prepared for difficult times. But the other reality is endowments also take hits when the broad market does.