Sip AD: new basketball arena before south end zone

6,569 Views | 77 Replies | Last: 6 yr ago by nu awlins ag
mulch
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AG
Translation: we don't have any money

I'm telling y'all right now. The sip athletic department is Enron circa 2000. Tons of revenue, a shady balance sheet, but slim profit and no cash in the coffers.

Their house of cards will fall soon and the sips will become Georgia Tech 2.0. Great academic school with some decent football history that no one cares about
Chosen One
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Are you related tot he Everly Brothers, I swear as I was reading this all I could hear was the Everly Brothers singing "All I Have to Do Is Dream"

Drea-ea-ea-ea-eam, dream, dream, dream

Drea-ea-ea-ea-eam, dream, dream, dream
etexorange
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You act like y'all paid cash for the Kyle Field renovation. Hint: You did not.
titanmaster_race
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etexorange said:

You act like y'all paid cash for the Kyle Field renovation. Hint: You did not.


How many ADs pay cash for a renovation of that magnitude?
Hint: None

How many D1 ADs spend nearly every cent they make, year in and year out?
Hint: One
Bottlehead90
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AG
If Belmont has so much money than why can't they do both?

Make them gold plated while you're at it
etexorange
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Well, let's be honest, when you are averaging 10,000 empty seats in football (90k of 100k), it doesn't make much sense to expand.

This is the master planned project to up Texas Memorial Stadium to 120k, right?

About A&M's athletics profit: that was skewed because y'all counted capital campaign donations for football and baseball as revenue without subtracting those donations as an expense.

That is no secret, nearly every report of your budget includes that caveat.
Ed Harley
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AG
etexorange said:

You act like y'all paid cash for the Kyle Field renovation. Hint: You did not.
You act like you're not a limp-wristed, insecure, ***-got loser. Hint: you are.
MyComputerCareer
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etexorange said:

You act like y'all paid cash for the Kyle Field renovation. Hint: You did not.

It's just basic finance. You need to cover your debt service. Someone's revenue growth is trending in the right direction and the other is scraping revenue from any where and any school within its system to project growth.
TexAg1987
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I believe the tu basketball arena is slated for demolition in the near future, correct? Makes sense that they will need to replace it first.

http://www.dailytexanonline.com/news/2014/03/26/with-frank-erwin-center%E2%80%99s-days-limited-many-questions-remain-about-venue%E2%80%99s-future
etexorange
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"How many ADs pay cash for a renovation of that magnitude? "

TCU paid cash for its 2012 stadium upgrade. But that was 164 MM.
Ferg
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They need a heck of a better(tougher) home schedule before they add another 30K seats to a stadium that holds over 100K at a university that is not growing in enrollment.
Fightin Ag491
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Ed Harley said:

etexorange said:

You act like y'all paid cash for the Kyle Field renovation. Hint: You did not.
You act like you're not a limp-wristed, insecure, ***-got loser. Hint: you are.

GAC06
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AG
etexorange said:

"How many ADs pay cash for a renovation of that magnitude? "

TCU paid cash for its 2012 stadium upgrade. But that was 164 MM.


Is less than half considered to be of the same magnitude?
Chosen One
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One of the biggest issues with Texas current AD is that he is just an intrum and has no experience in managing projects of this magnitude, must less two at a time.
GAC06
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AG
Chosen One said:

One of the biggest issues with Texas current AD is that he is just an intrum and has no experience in managing projects of this magnitude, must less two at a time.


Why don't you write to your t-shirt team's "intrum" AD and present your impressive credentials and insight on projects of that magnitude?
mulch
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This is the same school that recently struggled to build a tennis court.

The sips have exactly NOTHING planned for their basketball arena. They know they need a new one, but they don't have ANY capital campaigns or a design selected, or even an official location. All the AD can say is "we'll build one eventually." A&M will probably have a space port operating before the sips finish out DKKKR.

Itwill be a minimum of 5-10 years before that arena is built, if it ever gets built at all.

Which also means that their garbage heap of a football stadium will stay "Big 12 Ready" for another decade and, likely forever.

All part of the plan though I'm sure
petey88
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Chosen One said:

One of the biggest issues with Texas current AD is that he is just an intrum and has no experience in managing projects of this magnitude, must less two at a time.

what a dumbass, can't even spell
Your Friend
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mulch said:

Translation: we don't have any money

I'm telling y'all right now. The sip athletic department is Enron circa 2000. Tons of revenue, a shady balance sheet, but slim profit and no cash in the coffers.

Their house of cards will fall soon and the sips will become Georgia Tech 2.0. Great academic school with some decent football history that no one cares about


Wouldn't a brand new bb arena cost more than a south end zone expansion?
Bottlehead90
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AG
Not if you can get the city of Austin to pay for it.

aggiehawg
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Bottlehead90 said:

Not if you can get the city of Austin to pay for it.


DING! DING! DING! Same as their medical school, they want the taxpayers to pay for it. Glad I am finally out of that tax-for-everything hellhole.
etexorange
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GAC06 said:

etexorange said:

"How many ADs pay cash for a renovation of that magnitude? "

TCU paid cash for its 2012 stadium upgrade. But that was 164 MM.


Is less than half considered to be of the same magnitude?

My God, do you know what"but" means?

Why didn't y'all put down half the cost as a cash down payment and go into debt by half as much? Y'all had a $90 million "profit" in one year, after all...

What would be wrong with having the city pay part of the arena cost? Y'all have a hotel-motel tax that contributes 10 percent of your Kyle Field costs over 30 years. You have a student fee that contributes $75 million over a similar time span.

So much for paying for Kyle Field in "cash." Whose cash?
91_Aggie
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AG
Wow. Half of the posts on this thread are from tsip fans defending the hell out of their school over finances smack.

How much do you have to suck at life to spend that much time and energy on a non-rivals website?!?!
MetoliusAg
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It took etexorange all of 14 minutes to compose and post a response to the OP. Geezus, even on the Friday afternoon before they swap spit with the okies, Daddy A&M is the foremost thing on their minds.

I almost feel sorry for the little tykes.



cone
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AG
there's nothing dumber than seeking to expand seating at existing live sporting venues

might as well just burn that cash
Ronnie Mund
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Your Friend said:

mulch said:

Translation: we don't have any money

I'm telling y'all right now. The sip athletic department is Enron circa 2000. Tons of revenue, a shady balance sheet, but slim profit and no cash in the coffers.

Their house of cards will fall soon and the sips will become Georgia Tech 2.0. Great academic school with some decent football history that no one cares about


Wouldn't a brand new bb arena cost more than a south end zone expansion?
Will you help support either project, Justin?
The Collective
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AG
So, their expansion announcement several years back was make believe?
HTownAg98
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Nice rhetorical question.
ABATTBQ11
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etexorange said:

"How many ADs pay cash for a renovation of that magnitude? "

TCU paid cash for its 2012 stadium upgrade. But that was 164 MM.


So, not in the same ballpark...
GrapevineAg
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I don't know where this 'paid for Kyle in cash' idea came from... oh wait, yes I do! It was a straw man built by etexorange himself.

Regardless, it's paid for. How's the fundraising for your facilities going?
WSCTR
aggiehawg
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91_Aggie said:

Wow. Half of the posts on this thread are from tsip fans defending the hell out of their school over finances smack.

How much do you have to suck at life to spend that much time and energy on a non-rivals website?!?!
Randolph Duke level.
aggiehawg
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AG
Your Friend said:

mulch said:

Translation: we don't have any money

I'm telling y'all right now. The sip athletic department is Enron circa 2000. Tons of revenue, a shady balance sheet, but slim profit and no cash in the coffers.

Their house of cards will fall soon and the sips will become Georgia Tech 2.0. Great academic school with some decent football history that no one cares about


Wouldn't a brand new bb arena cost more than a south end zone expansion?
Do you know how many years the 40 acres administration has known they will have to build a new basketball facility? From the time they first proposed an on-campus medical school. A decade or more.
Bonfire1996
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AG
Why pay cash when you can invest pledges at a rate of return in excess of interest payments on bonds?

Only idiots pay cash.
etexorange
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Bonfire 1996 said:

Why pay cash when you can invest pledges at a rate of return in excess of interest payments on bonds?

Only idiots pay cash.

Then you have a lot of idiot Aggies who think you paid cash.

So who's toting the note? The Brazos/BCS hotel tax or the student fee? Is there enough coming in to pay A&M's share? Which leads to...

How do you invest pledges? That money is not lump sum. It's spread out or even life estates, meaning no moolah until the old ag kicks the bucket?

What's your bond payment? How much.

So when "tu" was made fun of for being a few hundred million in debt, DeLoss was likely drawing interest on the donations? But the Aggies laughed long into the night about "tu's" debt.

How conservative of y'all to be subsidized by tax money. Your buddies *****ing about "tu's" medical school and possibly a new arena being subsidized by taxpayer money, aren't gonna like that.
Ragoo
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etexorange said:

Bonfire 1996 said:

Why pay cash when you can invest pledges at a rate of return in excess of interest payments on bonds?

Only idiots pay cash.

Then you have a lot of idiot Aggies who think you paid cash.

So who's toting the note? The Brazos/BCS hotel tax or the student fee? Is there enough coming in to pay A&M's share? Which leads to...

How do you invest pledges? That money is not lump sum. It's spread out or even life estates, meaning no moolah until the old ag kicks the bucket?

What's your bond payment? How much.

So when "tu" was made fun of for being a few hundred million in debt, DeLoss was likely drawing interest on the donations? But the Aggies laughed long into the night about "tu's" debt.

How conservative of y'all to be subsidized by tax money. Your buddies *****ing about "tu's" medical school and possibly a new arena being subsidized by taxpayer money, aren't gonna like that.
the 12th Man Foundation is not subsidized by taxes. Taxes are collected and paid because building a larger stadium is mutually beneficial to TAMU and local businesses like hotels.

I am not sure what your point is. When TAMU wants infrastructure built it builds the infrastructure. From concept to execution it took less than 3 years to redevelop Kyle Field. It is taking 5+ years for horn to even get the financial commitment, let alone designed and built.

The financial position, bureaucracy and red tape are keeping horn at an infrastructure disadvantage. Plain and simple.
MyComputerCareer
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Chosen One said:

One of the biggest issues with Texas current AD is that he is just an intrum and has no experience in managing projects of this magnitude, must less two at a time.

While probably true, that's just one of the biggest issues. Here are few more:
1) As mentioned above your home schedule blows. Fans want to see (will pay for) games that matter. Your situation doesn't allow for any true demand/growth projection which essentially backstops the underwriting on a project of that size
2) You allowed a former Kstate track coach (lacking in basic finance understanding) complete autonomy in AD decision making for way too long
3) The revenue title is so important to whorn, it won't allow you to reset and restructure your bloated balance sheet.
4) You're subsidizing success at other schools as a result of terrible decision making (USF says hi)
5) The fan base is happy to continue whistling past the graveyard while the program is mired in its worst historical stretch ever
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