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Tears Nole Tears (“Offcial”)

pacusmc said:
I understand. However the school has to thank it’s Lucky stars that boosters paid out that money. Without the boosters working out that buyout they wouldn’t be able to afford a high priced coach or high priced assistants. Nor are they able to afford whatever their demands are.
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Generally boosters are behind a lot of buyouts. Yes your right the boosters had seen enough and raised the 20 million, but still reports from Tally have said FSU athletics has been in the red now for sometime and last year they had to liquidate some assets to be able to balance the budget for the year.
 
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Canes2082 said:
Generally boosters are behind a lot of buyouts. Yes your right the boosters had seen enough and raised the 20 million, but still reports from Tally have said FSU athletics has been in the red now for sometime and last year they had to liquidate some assets to be able to balance the budget for the year.
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I was listening to bluestein earlier and they were talking about that and how they’ve lost millions in ticket sales. It got me thinking of the double edge sword to both UM and FSU with the stadium.
On one hand it’s all cool to have one but it also has to be a financial nightmare to upkeep and upgrade a stadium that big while we don’t have to.
However, not having an expensive empty chunk of cement that bleeds money on campus doesn’t exactly light a fire under the admin’s ***.
Our admin must have been thrilled to have 40 k in the seats and breaking even or even making a little profit.
If I’m way off base maybe you or someone can educate me.

Disclaimer: in no way shape or form do I want an on campus or another stadium. Hardrock is the sht!
I’m just wondering if not having one is way cheaper and limits the pressure the fan base can put on the admin by simply “not showing up”.
 
pacusmc said:
The boosters let the school off the hook by paying all that buyout. The school basically has a blank slate now to do whatever they want. And they don’t have to buy anybody out. We had to buy Manny out of the temple contract. The question still remains what stoops or whoever would want and what the school can afford to or what it’s willing to spend.
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But the schools funds are in the red no? Boosters had to bail them out two-fold. How much do they really have to offer without further booster support? I'm not saying their boosters won't pony up another chunk of change but it seems like a tall order to keep asking boosters to fund everything.
 
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pacusmc said:
I was listening to bluestein earlier and they were talking about that and how they’ve lost millions in ticket sales. It got me thinking of the double edge sword to both UM and FSU with the stadium.
On one hand it’s all cool to have one but it also has to be a financial nightmare to upkeep and upgrade a stadium that big while we don’t have to.
However, not having an expensive empty chunk of cement that bleeds money on campus doesn’t exactly light a fire under the admin’s ***.
Our admin must have been thrilled to have 40 k in the seats and breaking even or even making a little profit.
If I’m way off base maybe you or someone can educate me.

Disclaimer: in no way shape or form do I want an on campus or another stadium. Hardrock is the sht!
I’m just wondering if not having one is way cheaper and limits the pressure the fan base can put on the admin by simply “not showing up”.
Click to expand...
University of California spent $474M on renovating its stadium (and building a new student athletic center), and is now the most debt-laden college in the US. And they suffered a drop in attendance after the renovation.

See: www.bloomberg.com/news/features/2017-01-04/college-football-s-top-teams-are-built-on-crippling-debt
 
pacusmc said:
I was listening to bluestein earlier and they were talking about that and how they’ve lost millions in ticket sales. It got me thinking of the double edge sword to both UM and FSU with the stadium.
On one hand it’s all cool to have one but it also has to be a financial nightmare to upkeep and upgrade a stadium that big while we don’t have to.
However, not having an expensive empty chunk of cement that bleeds money on campus doesn’t exactly light a fire under the admin’s ***.
Our admin must have been thrilled to have 40 k in the seats and breaking even or even making a little profit.
If I’m way off base maybe you or someone can educate me.

Disclaimer: in no way shape or form do I want an on campus or another stadium. Hardrock is the sht!
I’m just wondering if not having one is way cheaper and limits the pressure the fan base can put on the admin by simply “not showing up”.
Click to expand...
Think of it this way.

Joe Robbie Stadium opened in 1987, just thirty two years ago.

2006 (18 years old): $318M ($250M unadjusted for inflation) renovation
2015 (28 years old): $379M ($350M unadjusted for inflation)renovation

So in the last 32 years, almost $700M was spent renovating Hard Rock Stadium. That's money that would have had to come from the University of Miami if it was an on campus stadium.

Granted, the renovations were driven by the desire to keep Miami in contention as a Super Bowl host site. So let's look at the Texas Longhorns, which have an on-campus stadium. Dollars listed are adjusted for inflation:

1923: $4.7M Initial cost for 27,000 seat stadium
1927: $1.8M Seating capacity raised to 40,500
1948: $15.0M Seating capacity raised to 60,000
1955: $1.9M light towers added
1971: (?) Upper deck added, capacity raised to 77,809
1986: $16.4M Athletic center added to south end of stadium
1998: (?) Upper deck added to east end of stadium
2005: $19.7M renovations
2006: $10.2M audio/visual improvements
2007: $185.3M expansion project
2009: $32.3M rebuild of Athletic Center
2013: $68.3M renovation to basement of north end zone
2019: $175.0M south end zone expansion
 
As a small private school does Miami, in your guy’s opinion, have the capital to undergo this kind of expense even if we had the land(we don’t)
 
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305407cane said:
As a small private school does Miami, in your guy’s opinion, have the capital to undergo this kind of expense even if we had the land(we don’t)
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Possibly, but it would be an undersized stadium now. Something bigger than the Lockhart stadium, but not that much larger.

There's a University of Miami yearbook from 1980/1981 that I saw when I was there that had a feature on the 40,000 seat stadium that Schelly wanted to build. Had Howard stayed long-term, I think he eventually would have gotten it. Presume it opened in 1989. Miami would be incurring additional expense in maintenance, but also would be looking to expand it and renovate it. That's where the debt is incurred, debt that Colorado State, California, Akron, and other schools are suffering from.
 
GojiraCane said:
Possibly, but it would be an undersized stadium now. Something bigger than the Lockhart stadium, but not that much larger.

There's a University of Miami yearbook from 1980/1981 that I saw when I was there that had a feature on the 40,000 seat stadium that Schelly wanted to build. Had Howard stayed long-term, I think he eventually would have gotten it. Presume it opened in 1989. Miami would be incurring additional expense in maintenance, but also would be looking to expand it and renovate it. That's where the debt is incurred, debt that Colorado State, California, Akron, and other schools are suffering from.
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Where would it have been
 
GojiraCane said:
Think of it this way.

Joe Robbie Stadium opened in 1987, just thirty two years ago.

2006 (18 years old): $318M ($250M unadjusted for inflation) renovation
2015 (28 years old): $379M ($350M unadjusted for inflation)renovation

So in the last 32 years, almost $700M was spent renovating Hard Rock Stadium. That's money that would have had to come from the University of Miami if it was an on campus stadium.

Granted, the renovations were driven by the desire to keep Miami in contention as a Super Bowl host site. So let's look at the Texas Longhorns, which have an on-campus stadium. Dollars listed are adjusted for inflation:

1923: $4.7M Initial cost for 27,000 seat stadium
1927: $1.8M Seating capacity raised to 40,500
1948: $15.0M Seating capacity raised to 60,000
1955: $1.9M light towers added
1971: (?) Upper deck added, capacity raised to 77,809
1986: $16.4M Athletic center added to south end of stadium
1998: (?) Upper deck added to east end of stadium
2005: $19.7M renovations
2006: $10.2M audio/visual improvements
2007: $185.3M expansion project
2009: $32.3M rebuild of Athletic Center
2013: $68.3M renovation to basement of north end zone
2019: $175.0M south end zone expansion
Click to expand...
****!!!!!!
 
GojiraCane said:
Possibly, but it would be an undersized stadium now. Something bigger than the Lockhart stadium, but not that much larger.

There's a University of Miami yearbook from 1980/1981 that I saw when I was there that had a feature on the 40,000 seat stadium that Schelly wanted to build. Had Howard stayed long-term, I think he eventually would have gotten it. Presume it opened in 1989. Miami would be incurring additional expense in maintenance, but also would be looking to expand it and renovate it. That's where the debt is incurred, debt that Colorado State, California, Akron, and other schools are suffering from.
Click to expand...
We’re Gucci right now with hard rock.
No way any on campus stadium would be anywhere as nice as that place.
Other schools must be hating on another level that we have that place as our home stadium despite how they negatively recruit with it.
But my point was that the admin doesn’t face any pressure for ticket sales because it’s not that big of an expense to them.
 
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305407cane said:
As a small private school does Miami, in your guy’s opinion, have the capital to undergo this kind of expense even if we had the land(we don’t)
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It has the capital but it would be very unwise, financially, to do so. How many home games per year does it host? Renting it out for events would mean competing against other stadiums in the city for similar acts.It would be a money pit.
 
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