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Claude G

Second Round of Furloughs at Fresno State

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Is there a light at the end of the tunnel?  The pandemic does no seem like it will be going away anytime soon.  Things will get much worse before they get better IMO.

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“University support, which accounted for $20.9 million of its $49.8 million”

How is this sustainable? To those who brag about the amount of pay that coaches demand these days can’t read a balance sheet. Fresno State spent $200m last decade on sports! That’s crazy to me. 

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47 minutes ago, NevadaFan said:

“University support, which accounted for $20.9 million of its $49.8 million”

How is this sustainable? To those who brag about the amount of pay that coaches demand these days can’t read a balance sheet. Fresno State spent $200m last decade on sports! That’s crazy to me. 

Incorrect on your part.

President Joseph Castro has been increasing the amount of the university budget support to athletics every year since he arrived in 2013. It has not been $20 million every year for 10 years.

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2 hours ago, NevadaFan said:

“University support, which accounted for $20.9 million of its $49.8 million”

How is this sustainable? To those who brag about the amount of pay that coaches demand these days can’t read a balance sheet. Fresno State spent $200m last decade on sports! That’s crazy to me. 

i agree, it can not be sustainable over a period of years. Only the P5 and perhaps not all of them will be able to maintain the type of sports programs we have become accustomed to in the MWC. AAC and the top independents. The CUSA, SB and MAC are as good as done and gone in the next few years. Or they will drop to D2 where most of them belong now.

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6 hours ago, NevadaFan said:

“University support, which accounted for $20.9 million of its $49.8 million”

How is this sustainable? To those who brag about the amount of pay that coaches demand these days can’t read a balance sheet. Fresno State spent $200m last decade on sports! That’s crazy to me. 

SDSU is building a $400,000,000 stadium for.....you know.......education

Hard to believe the two schools are in the same system.

Some animals are more equal than others

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2 hours ago, SDSUfan said:

SDSU is building a $400,000,000 stadium for.....you know.......education

Hard to believe the two schools are in the same system.

Some animals are more equal than others

How much of that $400,000,000 will be from state coffers? I assume zero. 

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57 minutes ago, soupslam1 said:

How much of that $400,000,000 will be from state coffers? I assume zero. 

TBD. The state backstops the revenue bonds. SDSU is essentially using state resources in a speculative land deal that starts off $300,000,000 in debt.

I'm sure everything will be fine because football stadiums are universally recognized as fiscally sound, profit making ventures.

I suppose I forgot to mention "Campus Retail", an interesting term.  To be fair, it's the only thing mentioned in the development plan that has the word "Campus" or "classroom" in it.

 

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38 minutes ago, SDSUfan said:

TBD. The state backstops the revenue bonds. SDSU is essentially using state resources in a speculative land deal that starts off $300,000,000 in debt.

I'm sure everything will be fine because football stadiums are universally recognized as fiscally sound, profit making ventures.

I suppose I forgot to mention "Campus Retail", an interesting term.  To be fair, it's the only thing mentioned in the development plan that has the word "Campus" or "classroom" in it.

 

Why can’t SJSU and FSU go that same route to make improvements to their stadiums? 

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16 minutes ago, soupslam1 said:

Why can’t SJSU and FSU go that same route to make improvements to their stadiums? 

I don't know.  The state is running a $54B deficit. What's a few hundred million more for some football stadiums?  They are after all, excellent investments.

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1 hour ago, SDSUfan said:

TBD. The state backstops the revenue bonds. SDSU is essentially using state resources in a speculative land deal that starts off $300,000,000 in debt.

I'm sure everything will be fine because football stadiums are universally recognized as fiscally sound, profit making ventures.

I suppose I forgot to mention "Campus Retail", an interesting term.  To be fair, it's the only thing mentioned in the development plan that has the word "Campus" or "classroom" in it.

 

Never mind that the university has already raised $50mm in donations for the $300mm stadium and that increased revenue from the new stadium will cover debt service many times over.  

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1 hour ago, Fowl said:

Never mind that the university has already raised $50mm in donations for the $300mm stadium and that increased revenue from the new stadium will cover debt service many times over.  

You’d think with all this money floating around they’d stop the institutional support. 

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15 minutes ago, Fowl said:

Never mind that the university has already raised $50mm in donations for the $300mm stadium and that increased revenue from the new stadium will cover debt service many times over.  

Where did you get the 50m number? The last update I received indicated it was at $30m, which is roughly 10% of the way and includes the single largest donation ($15m) ever given to SDSU athletics.  All you need now is 19 more "largest donations ever "and  the project is fully funded.  In the  interim, SDSU will leverage CSU system wide revenue bonds in order to get shovels in the dirt.

No problem though, I'm sure the Athletics department will soon be unburdening the state taxpayers of the 45% subsidy they're already kicking in.   Football stadiums.  They're practically magic!

 

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2 hours ago, Fowl said:

Never mind that the university has already raised $50mm in donations for the $300mm stadium and that increased revenue from the new stadium will cover debt service many times over.  

That's why everyone rushes to build stadiums.  They're goddamn goldmines I tell ya!

Anything that costs 300 million and is used 8 days a year just has to be fiscally responsible.

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23 hours ago, soupslam1 said:

Why can’t SJSU and FSU go that same route to make improvements to their stadiums? 

That energy was spent on savemart center. 

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1 hour ago, godogsgo said:

That energy was spent on savemart center. 

Terrible basketball arena but great financially for the city and university 

As for the topic, if they haven’t already every MW institution will do something similar to this - only difference is the local paper in Fresno is always fishing for negative PR for the Athletics department 

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On 6/14/2020 at 8:23 PM, SDSUfan said:

TBD. The state backstops the revenue bonds. SDSU is essentially using state resources in a speculative land deal that starts off $300,000,000 in debt.

I'm sure everything will be fine because football stadiums are universally recognized as fiscally sound, profit making ventures.

I suppose I forgot to mention "Campus Retail", an interesting term.  To be fair, it's the only thing mentioned in the development plan that has the word "Campus" or "classroom" in it.

 

So, with the state backing, will SDSU’s new stadium be a multi-venue collaboration with the city? Concerts/Fireworks/rodeos/dirtbike-monster truck type events, that could be huge generators of revenue... and would non-football scheduled events be a profit sharing venture with SDSU as well?

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On 6/13/2020 at 6:49 PM, Hoser said:

Is there a light at the end of the tunnel?  The pandemic does no seem like it will be going away anytime soon.  Things will get much worse before they get better IMO.

Boise State's summer enrollment was up 10% and our Fall numbers are only down about 2% with plenty of time to get back on track. 

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7 hours ago, LoboMan59 said:

So, with the state backing, will SDSU’s new stadium be a multi-venue collaboration with the city? Concerts/Fireworks/rodeos/dirtbike-monster truck type events, that could be huge generators of revenue... and would non-football scheduled events be a profit sharing venture with SDSU as well?

The school owns it lock, stock, barrel, debt, and operating expenses.  They will be competing with the well established, larger, better located Petco Park for large venue outdoor events..

I'm sure it will all work out for them . As I stated earlier, football stadiums are well known to be excellent profit making ventures. 

The "real" plan of course is that they plan to make scads of money from the rest of the parcel.  You know what DOESN"T make scads of money?  Classrooms or anything to do with the actual core mission of the University.  SDSU is now, for better or worse, a developer and landlord with a $300,000,000 debt

 

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