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SD City Council to review Stadium Agreement 5/29

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58 minutes ago, Koji Vu said:

LOL. The money has already been assigned. Financial hardship is going to occur if the pandemic lasts past 2022 and the stadium can't support the revenue - but if that happens then that means there are worse things happening in the world than SDSU's stadium not making money.

 

When people don't understand how the budgetary process works.

That budgeted money assigned was before the pandemic, it was made on the basis of what revenue the state thought it would have. When the state does not get the revenue it thought it would the state will cut the budget. Which is exactly what the article said, now explain to me where you think they are going to cut that missing money from, what's getting chopped?

Will money be spent to knock down a perfectly functioning football stadium to build a different one? A stadium that is based on an expansion of campus and kids on said campus that they can't afford to teach as they cut the instruction budget which was also in that original budget.

How many presidents of universities are going to choose a new stadium over academics right now, again with a perfectly acceptable and functioning one already? What politician will vote for that spending, or in the governor's case leave it up and cut other places?

Too be fair it isn't just going to be SDSU's campus expansion, it is literally any major capital project that isn't currently past the midway point. They are easy to stop and save lots of money with little negative effect. When you are staring down 100s of millions in loss revenue that stuff is easy fruit to pick.

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Full speed ahead on a $310 million project expected to be funded via bonds that will be paid off with stadium revenue and donations amidst a pandemic and impending economy crash? Hmmmmmm-- I don't see many investors seeing those bonds as sound investments in this climate.

Hope you guys have a hell of a 🧱 donation fund.

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25 minutes ago, Rebels18 said:

Full speed ahead on a $310 million project expected to be funded via bonds that will be paid off with stadium revenue and donations amidst a pandemic and impending economy crash? Hmmmmmm-- I don't see many investors seeing those bonds as sound investments in this climate.

Hope you guys have a hell of a 🧱 donation fund.

Michael Milken junk bond.

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SDSU stadium is 100% being funded by donations and bonds.  So its not affected by the CSU budget and it is full speed ahead.  Bonds were already secured and bonds are a 30 year investment so worrying about year 1 or 2 is short sighted.  

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1 hour ago, namssa said:

SDSU stadium is 100% being funded by donations and bonds.  So its not affected by the CSU budget and it is full speed ahead.  Bonds were already secured and bonds are a 30 year investment so worrying about year 1 or 2 is short sighted.  

It's been repeated enough, but I guess this pandemic is being looked at as being 30-years long for many people.  :waiting:

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4 hours ago, JoeBlo said:

 

When people don't understand how the budgetary process works.

That budgeted money assigned was before the pandemic, it was made on the basis of what revenue the state thought it would have. When the state does not get the revenue it thought it would the state will cut the budget. Which is exactly what the article said, now explain to me where you think they are going to cut that missing money from, what's getting chopped?

Will money be spent to knock down a perfectly functioning football stadium to build a different one? A stadium that is based on an expansion of campus and kids on said campus that they can't afford to teach as they cut the instruction budget which was also in that original budget.

How many presidents of universities are going to choose a new stadium over academics right now, again with a perfectly acceptable and functioning one already? What politician will vote for that spending, or in the governor's case leave it up and cut other places?

Too be fair it isn't just going to be SDSU's campus expansion, it is literally any major capital project that isn't currently past the midway point. They are easy to stop and save lots of money with little negative effect. When you are staring down 100s of millions in loss revenue that stuff is easy fruit to pick.

The loan has been secured. They are pushing dirt in a week. Good luck with your narrative.

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1 hour ago, Koji Vu said:

The loan has been secured. They are pushing dirt in a week. Good luck with your narrative.

 

How do you get that property to build the stadium on? I can't believe I have to explain this but athletics are part of the college, your 300m in bonds (not sold yet by the way) covers the stadium. You need to be able to come through on the rest of the money for the west campus, of which the stadium is a part.

 

Believe what you want as I said this board is very bubble like.

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1 hour ago, East Coast Aztec said:

It's been repeated enough, but I guess this pandemic is being looked at as being 30-years long for many people.  :waiting:

 

Or maybe the likelyhood is that College football model that makes this stadium feasible won't last past the pandemic. 

Some of you think that some future tomorrow things are going back to what they were. That ain't happening and college sports is just another one of those things permanently changed, like kids being on campus.

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55 minutes ago, JoeBlo said:

 

Or maybe the likelyhood is that College football model that makes this stadium feasible won't last past the pandemic. 

Some of you think that some future tomorrow things are going back to what they were. That ain't happening and college sports is just another one of those things permanently changed, like kids being on campus.

So exaggerated theoretics is all you have?  Your original statement was inaccurate and you were called out on it, now you are shifting to "but in the future..."  


You should have led with that, so we can summarily say "I guess we will see, and thank you for your interest in San Diego State football" 

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I hope SDSU gets their new stadium.

Talking to a coworker the other day and he said how he thought it was so unfortunate that Allegiant stadium was sitting empty due to COVID and how maybe they shouldn’t have built it.

I agreed that the timing wasn’t perfect with COVID, etc,

but

this project could have been eliminated if it wasn’t already under way.
I am SO thankful (as a Rebel & Raiders fan) that Allegiant’s construction is complete.  
 

Good luck Aztec’s and hopefully we can both show off our new stadiums to the world very soon!

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2 hours ago, JoeBlo said:

 

How do you get that property to build the stadium on? I can't believe I have to explain this but athletics are part of the college, your 300m in bonds (not sold yet by the way) covers the stadium. You need to be able to come through on the rest of the money for the west campus, of which the stadium is a part.

 

Believe what you want as I said this board is very bubble like.

We'll see in a few days when the CSU system hands a check for $88m to the City of San Diego. When/If they do, will you please apologize profusely for being so very, very, very wrong?

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8 minutes ago, EZRebel said:

I hope SDSU gets their new stadium.

If Covid had to happen, this is the year. We should be back up and running one way or another in 2022 when the stadium opens.

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9 minutes ago, EZRebel said:

I hope SDSU gets their new stadium.

Talking to a coworker the other day and he said how he thought it was so unfortunate that Allegiant stadium was sitting empty due to COVID and how maybe they shouldn’t have built it.

I agreed that the timing wasn’t perfect with COVID, etc,

but

this project could have been eliminated if it wasn’t already under way.
I am SO thankful (as a Rebel & Raiders fan) that Allegiant’s construction is complete.  
 

Good luck Aztec’s and hopefully we can both show off our new stadiums to the world very soon!

lol yeah Vegas just snuck allegiant in right before the shit hit the fan.. But even if it didn't the cash was on the table for it.

anyone have any solid info that these donations and bonds are coming through for diego's stadium? 

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48 minutes ago, Koji Vu said:

We'll see in a few days when the CSU system hands a check for $88m to the City of San Diego. When/If they do, will you please apologize profusely for being so very, very, very wrong?

Ummm, the whole deal is a lot more than that. Did you not pay attention? The money transfering hands to take possession of the stadium means very little. Are they going to let you knock down a stadium that is fine to build a new one, no.

Again let's see how the California legislature handles these budget cuts as their revenue continues decimated.

I'll check in when California finishes the budget. Otherwise this is the sports bubble echo chamber on this subject. By next weekend football and fall sports will be cancelled something many of you said wouldn't happen. Then we'll be staring down the winter and spring sports getting cancelled. New world.

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On 5/23/2020 at 10:41 AM, East Coast Aztec said:

I am managing any positive expectations.  I have been hurt before.

- Aztec, Gopher, TWolves, Vikings, Twins fan

As a Sac Kings fans I would trade any one of those ......

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Damn, most of you are clueless about bonds...but I suspect we don't have a lot of 70 year + people living on a fixed income or finance experts in the mix so not a huge surprise I guess. 

 

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11 hours ago, JoeBlo said:

Ummm, the whole deal is a lot more than that. Did you not pay attention? The money transfering hands to take possession of the stadium means very little. Are they going to let you knock down a stadium that is fine to build a new one, no.

Again let's see how the California legislature handles these budget cuts as their revenue continues decimated.

I'll check in when California finishes the budget. Otherwise this is the sports bubble echo chamber on this subject. By next weekend football and fall sports will be cancelled something many of you said wouldn't happen. Then we'll be staring down the winter and spring sports getting cancelled. New world.

This right here let's me know you are ill-informed about the Q and why it is being replaced.  The City doesn't want it, the cost to refurbish is more than building a new stadium and the annual cost to keep it as the piece of garbage that it already is around 8M per year.  Those costs would be fully-borne on SDSU.  So please tell me more about that "stadium that is fine".  :rotflmfao:

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1 hour ago, East Coast Aztec said:

This right here let's me know you are ill-informed about the Q and why it is being replaced.  The City doesn't want it, the cost to refurbish is more than building a new stadium and the annual cost to keep it as the piece of garbage that it already is around 8M per year.  Those costs would be fully-borne on SDSU.  So please tell me more about that "stadium that is fine".  :rotflmfao:

I'm getting PTSD reading all this. Don't you know that your current stadium is made of magic and doesn't require significant maintenance and upkeep?

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23 hours ago, JoeBlo said:

Ummm, the whole deal is a lot more than that. Did you not pay attention? The money transfering hands to take possession of the stadium means very little. Are they going to let you knock down a stadium that is fine to build a new one, no.

Who is "they"? Per initiative, SDSU is REQUIRED to build a new stadium within 7 years. They have already executed the loan to do it, too. 

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Who would've guessed watching SJSU's stadium reno and SDSU's 24/7 construction cam was going to be the highlight of Fall 2020 for the MW conference? 

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