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The Ghost of Jack Graham

Can the bank repo Canvas stadium when we stop paying our loan debt?

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2 minutes ago, The Ghost of Jack Graham said:

Yeah, that's why three professional basketball teams and an NFL team all left.

Is there a city in America that has a shi+tier history of supporting sports than San Diego?

The last bb team left more than 30 years ago for Houston and LA...2 of the largest markets in the country. Chargers went to LA. SD's problem is it's proximity to LA, that and jealous hillbilly types who get upset at our superior lifestyles. lol.

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7 hours ago, The Ghost of Jack Graham said:

That article is three years old and that 60 million was the amount CSU raised from the donors, meaning they took out a larger loan then they had too. They took out a loan to put money in the bank to pay the loan. That's like paying off your Visa bill with your American Express card.

Every school in the country is facing tough economic times. CSU had a billion dollars in construction debt to pay off BEFORE covid-19, and they've maximized their revenue streams already by doubling tuition to pay for it all.

If you consider that "fine" more power too you.

Trash talk about finances from a fan of the most broke ass state in the union.  I heard your governor on KGAB a few weeks ago state that if he fired every state employee and closed the prison, you still couldn't balance the budget in three years.  Glass houses man.  CSU will be just fine.  UW is struggling to get students to even enroll.  You can brag about a smaller budget, but it looks a little silly when you can't even afford that pittance.

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14 minutes ago, Headbutt said:

Trash talk about finances from a fan of the most broke ass state in the union.  I heard your governor on KGAB a few weeks ago state that if he fired every state employee and closed the prison, you still couldn't balance the budget in three years.  Glass houses man.  CSU will be just fine.  UW is struggling to get students to even enroll.  You can brag about a smaller budget, but it looks a little silly when you can't even afford that pittance.

Wyoming is broke? Not more broke than Nevada right now. 

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14 minutes ago, NevadaFan said:

Wyoming is broke? Not more broke than Nevada right now. 

Maybe, I couldn't honestly say who has it worse.  But yes, Wyoming is broke.  They are hurting really, really bad.  They live and die on energy prices.  Those are in the shitter.  Wheat, corn, and cattle are down.  UW expects an almost 20% drop in enrollment due mostly to the states economy. That's an expected $10 million drop in tuition alone.  They actually called all returning students to see if they were coming back, 1,900 said no.  I'm not reveling in their bad situation at all, Colorado isn't exactly printing cash these days, just pointing out that it's the wrong fan base to jump up and down about other states financial woes. 

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I think the University of Wyoming is in a world of hurt right now. I believe my friend @#1Stunner posted an article a couple of days ago noting that Wyoming officials expected enrollment to drop 20% this year.  Considering that Wyoming accepts 97% of all applicants where will they turn to generate more revenue?  I’m thinking another home and home in football and basketball with BYU will help fill the coffers. Heck Wyoming should be on the phone with Tom Holmoe tomorrow about replacing their lost OOC game with one at BYU. 

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https://www.denverpost.com/2020/03/21/csu-and-mountain-west-brace-for-significant-economic-toll-of-coronavirus/

CSU and first-year head football coach Steve Addazio desperately need $220 million Canvas Stadium to be filled with fans Sept. 5 for the season opener against CU. The Rams’ massive on-campus investment, entering its fourth year of use, required $8.1 million in debt payments for 2018-19 on bonds sold to finance its construction, per the school’s financial agreement. That number rises to $12.2 million in 2021.

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I’m not knowledgeable about “financing” lol, but financial institutions have to be plenty worried right now with so many people not paying their bills. 

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56 minutes ago, Cincy said:

https://www.denverpost.com/2020/03/21/csu-and-mountain-west-brace-for-significant-economic-toll-of-coronavirus/

CSU and first-year head football coach Steve Addazio desperately need $220 million Canvas Stadium to be filled with fans Sept. 5 for the season opener against CU. The Rams’ massive on-campus investment, entering its fourth year of use, required $8.1 million in debt payments for 2018-19 on bonds sold to finance its construction, per the school’s financial agreement. That number rises to $12.2 million in 2021.

So they can go maybe 3 or more seasons without playing thanks to a $60mil reserve that hasn't been tapped yet. This just smacks of the bitter fans in the conf rooting against CSU and their stadium out of jealous stupidity. 

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21 hours ago, Koji Vu said:

SDSU is about to make serious bank. Even if the stadium is a bust, the extra $12-14m/yr from increasing student fees (as the university goes from 30k to 45k students) will be more than enough to pay off the stadium debt. 

But the stadium won't be a bust. It'll be the only stadium in town that can support professional soccer teams and tourneys (including the Xolos from TJ and the Mexican National team when they want to make some extra bank in the US). Add in Rugby 7's, truck pulls, concerts, Holiday Bowl, maybe a new Poinsettia Bowl, and other events that want to put on a show to a market of 3.3 million (instead of a couple hundred K in Fort Collins)... we're good.  

LOL-

The delusion is strong ...

 

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37 minutes ago, AztecSU said:

So they can go maybe 3 or more seasons without playing thanks to a $60mil reserve that hasn't been tapped yet. This just smacks of the bitter fans in the conf rooting against CSU and their stadium out of jealous stupidity. 

Jealous of what?  Having to pay off a huge debt for a new stadium that only brought in an average of 23K fans last year coming off back to back losing seasons?

I hope you don’t give people financial advice for a living. 

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24 minutes ago, Cincy said:

Jealous of what?  Having to pay off a huge debt for a new stadium that only brought in an average of 23K fans last year coming off back to back losing seasons?

I hope you don’t give people financial advice for a living. 

They only average 23k and still haven't had to dip into their reserve before this season...think about it smart guy.

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3 minutes ago, AztecSU said:

They only average 23k and still haven't had to dip into their reserve before this season...think about it smart guy.

Have you ever heard of the word “sustainability”?  Since you’re so smart you must know it, huh smart guy.

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5 minutes ago, Cincy said:

Have you ever heard of the word “sustainability”?  Since you’re so smart you must know it, huh smart guy.

Is the Pandemic going to last multiple seasons? 

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14 hours ago, Headbutt said:

Maybe, I couldn't honestly say who has it worse.  But yes, Wyoming is broke.  They are hurting really, really bad.  They live and die on energy prices.  Those are in the shitter.  Wheat, corn, and cattle are down.  UW expects an almost 20% drop in enrollment due mostly to the states economy. That's an expected $10 million drop in tuition alone.  They actually called all returning students to see if they were coming back, 1,900 said no.  I'm not reveling in their bad situation at all, Colorado isn't exactly printing cash these days, just pointing out that it's the wrong fan base to jump up and down about other states financial woes. 

California is $54B in debt which they apparently plan to make up on Aztec football games.

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1 minute ago, AztecSU said:

Is the Pandemic going to last multiple seasons? 

No. Do you think low/mediocre attendance will last multiple seasons?

Having a lost season and having bad teams/attendance numbers is not what you want to see when you’re paying off debt of this magnitude. It’s not that difficult to understand. 

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Just now, Cincy said:

No. Do you think low/mediocre attendance will last multiple seasons?

Having a lost season and having bad teams/attendance numbers is not what you want to see when you’re paying off debt of this magnitude. It’s not that difficult to understand. 

Did you miss the past where their attendance was more than enough to cover the financing to date? 

Also, lets assume they default...how does the bank recover their losses? lol.

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1 minute ago, AztecSU said:

Did you miss the past where their attendance was more than enough to cover the financing to date? 

Also, lets assume they default...how does the bank recover their losses? lol.

To date?  You don’t get it. 

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