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Stephen Ross to Fund Stadium Renovations

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This is what grinds my gears....

Goal #1: Momentum: The Campaign for the University of Miami, one of the first billion-dollar capital campaigns completed in the United States, raised $1.4 billion in private support for the University’s endowment, academic and research programs, and facilities.

Goal #1 Accomplished


Goal #2: Momentum2:Momentum2: The Breakthrough Campaign for the University of Miami seeks to advance learning, elevate scholarship, and make bold strides in health care in the community, across the country, and around the world. Momentum2 goal is $1.6 Billion.

As of 3/14/14: A $12.5 million gift announced this month puts the campaign over $1.26 billion. [After Swanee and Paul DiMare's giving benefits schools of medicine, music, and education as well as athletics] “It’s ahead of schedule, substantially,” Shalala said of UM’s Momentum2 drive, acknowledging that it will likely reach its goal before 2016.

Goal #2 Ahead of schedule

Since Shalala took office in 2001 she has raised 2.7 billion from these two campaigns alone. How about we amend momentum2? How about we make the goal $350 million higher and put this towards the stadium?

This can be done, she has the power.
 
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Shalala has the "Football Victory Fund" project now that is trying to raise $7M for just the football team. It will take years just to raise that $7M. Donors line up to put down tens of million dollars in donations for Academic or Medial Projects like cancers research or Miami Project to Cure Paralysis that even the NFL has funded tens of millions. Most of the people that donate to the Academic and Medical funds didn't even go to UM.

Miami Hurricane Cub is the fund raising department for funding Athletics which has nothing to do with the Endowment. There are just so few ultra rich people that care about UM sports enough to donate big $$$ to do a major project like funding a stadium. UM gets $1M to $5M here and there from former players like Edgerrin James and and a few others in the NFL. There are no ultra rich fans that I know that have ever given $10M or more in the last 20 years in one donation. UM does it best even with the Hurricane Club donation to try to stay out of the red ink. If UM had a bunch of ultra rich sports fans that were so willing to pony up their money we sure would have done better than just a $14.7M upgrade to the Schwartz Center for Athletic Excellence.


What is embarrassing is the Hurricane Club has just over 6,000 members when it cost a little as $50 to join. If hard core football fans don't even want to pay $50 to join the Hurricane Club then don't expect a bunch of ultra rich guys that can pay for Luxury boxes at SLS to care enough to donate $350M of their money to build a stadium.
 
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Cane7451 said:
Shalala has the "Football Victory Fund" project now that is trying to raise $7M for just the football team. It will take years just to raise that $7M. Donors line up to put down tens of million dollars in donations for Academic or Medial Projects like cancers research or Miami Project to Cure Paralysis that even the NFL has funded tens of millions. Most of the people that donate to the Academic and Medical funds didn't even go to UM.

Miami Hurricane Cub is the fund raising department for funding Athletics which has nothing to do with the Endowment. There are just so few ultra rich people that care about UM sports enough to donate big $$$ to do a major project like funding a stadium. UM gets $1M to $5M here and there from former players like Edgerrin James and and a few others in the NFL. There are no ultra rich fans that I know that have ever given $10M or more in the last 20 years in one donation. UM does it best even with the Hurricane Club donation to try to stay out of the red ink. If UM had a bunch of ultra rich sports fans that were so willing to pony up their money we sure would have done better than just a $14.7M upgrade to the Schwartz Center for Athletic Excellence.


What is embarrassing is the Hurricane Club has just over 6,000 members when it cost a little as $50 to join. If hard core football fans don't even want to pay $50 to join the Hurricane Club then don't expect a bunch of ultra rich guys that can pay for Luxury boxes at SLS to care enough to donate $350M of their money to build a stadium.
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a man a few years ago donated 120 million to the u in his endowment. If i remember correctly a lot of it went into athletics.
 
Allabouttheu95 said:
Cane7451 said:
Shalala has the "Football Victory Fund" project now that is trying to raise $7M for just the football team. It will take years just to raise that $7M. Donors line up to put down tens of million dollars in donations for Academic or Medial Projects like cancers research or Miami Project to Cure Paralysis that even the NFL has funded tens of millions. Most of the people that donate to the Academic and Medical funds didn't even go to UM.

Miami Hurricane Cub is the fund raising department for funding Athletics which has nothing to do with the Endowment. There are just so few ultra rich people that care about UM sports enough to donate big $$$ to do a major project like funding a stadium. UM gets $1M to $5M here and there from former players like Edgerrin James and and a few others in the NFL. There are no ultra rich fans that I know that have ever given $10M or more in the last 20 years in one donation. UM does it best even with the Hurricane Club donation to try to stay out of the red ink. If UM had a bunch of ultra rich sports fans that were so willing to pony up their money we sure would have done better than just a $14.7M upgrade to the Schwartz Center for Athletic Excellence.


What is embarrassing is the Hurricane Club has just over 6,000 members when it cost a little as $50 to join. If hard core football fans don't even want to pay $50 to join the Hurricane Club then don't expect a bunch of ultra rich guys that can pay for Luxury boxes at SLS to care enough to donate $350M of their money to build a stadium.
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a man a few years ago donated 120 million to the u in his endowment. If i remember correctly a lot of it went into athletics.
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Then give me their name since the largest donation UM has ever got was from the family of the late Leonard Miller, a founder of Lennar Corp., has made a $100 million donation to the University of Miami's School of Medicine in 2004. The university said it will change the school's name to the Miller School of Medicine. The only donation to any Florida university that has topped the Miller family's is the amount - ranging from $220 to $250 million in published reports - Domino's Pizza founder Thomas S. Monaghan gave to establish Ave Maria University in Naples in 2002.


U of Miami gets $100M donation from Lennar founder
 
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What is an endowment for Athletics Funds?
An endowment is an amount of money given to the University with a stipulation that the funds are to be retained and invested to generate annual earnings. A portion of the annual earnings is used to award student scholarships, provide faculty development or support programs within the Athletic Department as established by our donors.

How does an endowment work?
When a donor establishes an endowment, the contributed funds are held, maintained and invested in the University's endowment pool. Over time, as earnings accrue, so too does the market value of the fund.

Can I restrict the use of an endowment?
Yes. Donors may restrict the use of funds from their endowments to support areas such as scholarships, programs, facility maintenance, coaching, etc. And, more specifically, for a particular sport such as football, basketball, men or women sports.

More info from UM on Endowments.

University of Miami Endowment Funds and Spending Policy
 
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they are building a $120 million dollar clinic at the Coral Gables campus.

they have the money. they just don't want to spend it on foosball.
 
cane305 said:
they are building a $120 million dollar clinic at the Coral Gables campus.

they have the money. they just don't want to spend it on foosball.
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What do people not understand, that when you donate money to any college under law then you not the university choose the project that money is used for. UM's Athletic Dept can't touch Leonard Miller $100 million donation to the University of Miami's Miller School of Medicine.

Just like the Miller School of Medicine couldn't touch my donation to the Bank United Center building fund. If UM had a bunch of donors that contributed to the Hurricane Club then the UM Athletic Fund wouldn't be in RED INK almost every year. If anyone wanted to donate money to building a Stadium then UM would take your donation and use it only for that project that would grow interests over time. The only thing that is stopping UM from building a stadium is money and few Hurricane Club donors is the reason they have no money.
 
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Cane7451, who are you? Are you an alumni? Trustee? Shalala supporter (as in she can do no wrong)?

I am simply amazed that you can't understand at all what I keep bringing up. I am going to keep this simple.

If the school wanted a stadium, they would make it a priority. As in any other fundraiser, where they tell the masses what the goals are, part of the goals would be the stadium. So when they raise 1.6 billion part of the pool would be for the stadium.

Like I said, Shalala can raise 2.7 billion from these two campaigns alone. She can EASILY get this off the ground and running if this was a priority.
 
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Consigliere said:
Cane7451, who are you? Are you an alumni? Trustee? Shalala supporter (as in she can do no wrong)?

I am simply amazed that you can't understand at all what I keep bringing up.
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Who are you and are you an alumi? Are you in the Hurricane Club and donate on top of that? Do you even go to most Canes football games since you think SLS is so bad? I know your aren't a Trustee since you are clueless to the whole process of Endowments.

I am simply amazed that you think UM has ultra rich donors that want to give a ton of cash to build a stadium. If UM had those type of donors the Athletic program wouldn't have to beg for several years just to raise $7M for the Football Victory Fund.
 
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Cane7451 said:
Consigliere said:
Cane7451, who are you? Are you an alumni? Trustee? Shalala supporter (as in she can do no wrong)?

I am simply amazed that you can't understand at all what I keep bringing up.
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Who are you and are you an alumi? Are you in the Hurricane Club and donate on top of that? Do you even go to most Canes football games since you think SLS is so bad? I know your aren't a Trustee since you are clueless to the whole process of Endowments.

I am simply amazed that you think UM has ultra rich donors that want to give a ton of cash to build a stadium. If UM had those type of donors the Athletic program wouldn't have to beg for several years just to raise $7M for the Football Victory Fund.
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Can you answer one question? I am not trying to be a **** but you are making it difficult.
 
That 7451 dude must work for the administration or have a family member on the payroll...all his posts follow the same underlying theme.
 
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Jedi Master Cane said:
That 7451 dude must work for the administration or have a family member on the payroll...all his posts follow the same underlying theme.
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Actually, judging by the intelligence of his posts and his driving need to take over every stadium thread, if I had to guess, I'd say he works concessions at Sun Life. Maybe parking.
 
Consigliere said:
Cane7451 said:
Consigliere said:
Cane7451, who are you? Are you an alumni? Trustee? Shalala supporter (as in she can do no wrong)?

I am simply amazed that you can't understand at all what I keep bringing up.
Click to expand...

Who are you and are you an alumi? Are you in the Hurricane Club and donate on top of that? Do you even go to most Canes football games since you think SLS is so bad? I know your aren't a Trustee since you are clueless to the whole process of Endowments.

I am simply amazed that you think UM has ultra rich donors that want to give a ton of cash to build a stadium. If UM had those type of donors the Athletic program wouldn't have to beg for several years just to raise $7M for the Football Victory Fund.
Click to expand...

Can you answer one question? I am not trying to be a **** but you are making it difficult.
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Why should I answer your questions when you won't answer my questions? Really when I told you about a $1K donation to build the BUC this is what your insulted me with: "Mazel tov on your donation. We couldn't of done it without you! Gloating about your donation?"

All you are is some clueless guy that thinks all Donna Shalala has to do is write a check and a stadium magically appears. The 40 member Board of Trustee not Donna are the only people that can build a stadium with or without Shalala's support of the project. It should be clear to anyone that has been in the Hurricane Club that UM's Athletic program runs on fumes since the fans don't support the team. There aren't a lot of fans that go to games anyway and I bet their isn't that many ultra rich donors in that stadium. There is zero business case for a Athletic Department that is in the Red Ink to move out of a OK stadium that is pretty cheap to use and spend $350M to build a stadium that donors and fans won't pay for. The Miami Marlins proved it wasn't the building that bring out the fans it is the ability of the team to win that brings out the fans.

UM needs to work on getting that Indoor Practice Center and other football projects with the Football Victory Fund that even raising $7M with Donna Shalala support is extremely difficult and takes a lot of time.
 
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SevenNSeven said:
Jedi Master Cane said:
That 7451 dude must work for the administration or have a family member on the payroll...all his posts follow the same underlying theme.
Click to expand...


Actually, judging by the intelligence of his posts and his driving need to take over every stadium thread, if I had to guess, I'd say he works concessions at Sun Life. Maybe parking.
Click to expand...

That level of intelligence you mentioned is exactly why I had him pegged for our current administration.
 
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