EXPANDING STADIUM TO 40k CAPACITY

[roachgone]

I certainly hope that if this East Tower gets built the East concourse will be widened. Move the concession areas and bathrooms to the back of bottom level of the east tower. Should be able to move all that back 30 to 40 feet. The concourse is ridiculously narrow.

[BeauFoster]

I certainly hope that if this East Tower gets built the East concourse will be widened. Move the concession areas and bathrooms to the back of bottom level of the east tower. Should be able to move all that back 30 to 40 feet. The concourse is ridiculously narrow.

It won’t be widened (or by much), but it will be 2 levels now. That should reduce congestion and will double concessions and bathroom availability.

[BambooRdApp]

I just hope a by product of this is replacing lighting system. Just does not look good on TV

[PhillyApp1]

I certainly hope that if this East Tower gets built the East concourse will be widened. Move the concession areas and bathrooms to the back of bottom level of the east tower. Should be able to move all that back 30 to 40 feet. The concourse is ridiculously narrow.

It won’t be widened (or by much), but it will be 2 levels now. That should reduce congestion and will double concessions and bathroom availability.

Where are we going to get the employees to man the concessions?
Just thinking

[AppStateNews]

I certainly hope that if this East Tower gets built the East concourse will be widened. Move the concession areas and bathrooms to the back of bottom level of the east tower. Should be able to move all that back 30 to 40 feet. The concourse is ridiculously narrow.

It won’t be widened (or by much), but it will be 2 levels now. That should reduce congestion and will double concessions and bathroom availability.

Where are we going to get the employees to man the concessions?
Just thinking

I don't think there's been a shortage of employees this year..

But, I do know they almost doubled the staff this year. So, maybe they keep the same number but put half upstairs, half downstairs?

[appgrad95&97]

The KBS expansion has approved guaranteed funds in place. From my understanding, it's basically fully funded.

Because of that, it allows us to throw more money at the 105 facilities.

That is not true. They think they can pay for it over time. They do not have the cash (or even current) pledges to pay for the East expansion.

You are aware that debt financed projects are the norm in college athletics, no?

I am. I am also aware that interest rates are 2.5 times what they were a year ago.

[Yosef10]

The KBS expansion has approved guaranteed funds in place. From my understanding, it's basically fully funded.

Because of that, it allows us to throw more money at the 105 facilities.

That is not true. They think they can pay for it over time. They do not have the cash (or even current) pledges to pay for the East expansion.

You are aware that debt financed projects are the norm in college athletics, no?

I am. I am also aware that interest rates are 2.5 times what they were a year ago.

Gotcha. OK say it gets green lit, what’s your big worry here? It also feels like you’re not giving the administration the benefit of the doubt that perhaps they may know their financial situation better than us?

[appgrad95&97]

The KBS expansion has approved guaranteed funds in place. From my understanding, it's basically fully funded.

Because of that, it allows us to throw more money at the 105 facilities.

That is not true. They think they can pay for it over time. They do not have the cash (or even current) pledges to pay for the East expansion.

You are aware that debt financed projects are the norm in college athletics, no?

I am. I am also aware that interest rates are 2.5 times what they were a year ago.

Gotcha. OK say it gets green lit, what’s your big worry here? It also feels like you’re not giving the administration the benefit of the doubt that perhaps they may know their financial situation better than us?

I'm all for this project. It seems like we have demand for suites and more premium seats. Two years ago we dropped sports for financial reasons. The athletics department owes at least $5 on the 105 project (for which they have to raise money from donors to pay off). Their financial situation is not a secret.

[APPdiesel]

It could also be that money for certain programs is compartmentalized, so they can’t (for example) take money from football to pay for a track facility. In theory that’s the way it should be. Your program pays for its own projects. The more solvent programs get more projects green lit because they generate the revenue and donations.

[Saint3333]

I’m personally not making real estate purchases during this environment.

depending on the cost it may make sense, they’ll get a $6M down payment and ~$1.5M in annual revenue. If it’s a $50M project that’s a long payback.

[appgrad95&97]

It could also be that money for certain programs is compartmentalized, so they can’t (for example) take money from football to pay for a track facility. In theory that’s the way it should be. Your program pays for its own projects. The more solvent programs get more projects green lit because they generate the revenue and donations.

Title IX

I would also point out that athletics has done a great job pointing out that we aren't close to the top of the conference in terms of budgets.

[goapps93]

The KBS expansion has approved guaranteed funds in place. From my understanding, it's basically fully funded.

Because of that, it allows us to throw more money at the 105 facilities.

That is not true. They think they can pay for it over time. They do not have the cash (or even current) pledges to pay for the East expansion.

You are aware that debt financed projects are the norm in college athletics, no?

I am. I am also aware that interest rates are 2.5 times what they were a year ago.

I think we’re all aware of that. Be that as it may, the rise in rates has brought them to historically normal levels. Would we not have borrowed several years ago when the rates were near what they are now but lower than a few years before? Do we expect a drastic reduction in rates anytime soon? I’d say if we’re gonna have to borrow to do it, now is the time before they go up more, which is almost guaranteed.

[Saint3333]

End the fed.

[appgrad95&97]

My whole point about this is project isn't funded. It is unrealistic to expect "deep pockets" to just pay for it. The athletics department is in debt for 105. So we'll be financing the project in a higher-rate environment.

[AppStateNews]

My whole point about this is project isn't funded. It is unrealistic to expect "deep pockets" to just pay for it. The athletics department is in debt for 105. So we'll be financing the project in a higher-rate environment.

Unless you know something Gillin doesn't, or Gillin straight up lied to a group of 50ish former athletes, this is fully funded and already green lit by the BOT (and I believe UNC BOG)

[appgrad95&97]

My whole point about this is project isn't funded. It is unrealistic to expect "deep pockets" to just pay for it. The athletics department is in debt for 105. So we'll be financing the project in a higher-rate environment.

Unless you know something Gillin doesn't, or Gillin straight up lied to a group of 50ish former athletes, this is fully funded and already green lit by the BOT (and I believe UNC BOG)

The entire University endowment is around $140 million. And you're suggesting that athletics is sitting on 40 or so million for this project or are we meaning different things by "fully funded"?

[AppStateNews]

My whole point about this is project isn't funded. It is unrealistic to expect "deep pockets" to just pay for it. The athletics department is in debt for 105. So we'll be financing the project in a higher-rate environment.

Unless you know something Gillin doesn't, or Gillin straight up lied to a group of 50ish former athletes, this is fully funded and already green lit by the BOT (and I believe UNC BOG)

The entire University endowment is around $140 million. And you're suggesting that athletics is sitting on 40 or so million for this project or are we meaning different things by "fully funded"?

By fully funded I mean we have guaranteed funding in place.... Again, unless Gillin lied to a large contingent of former athletes the week of Troy game.

This is not a new project (as evidenced by the renderings). This has been in the works for years. Part of the reason for the NEZ not being centered. If it wasn't for COVID, it would have been completed before this season started.

[Yosef10]

That is not true. They think they can pay for it over time. They do not have the cash (or even current) pledges to pay for the East expansion.

You are aware that debt financed projects are the norm in college athletics, no?

I am. I am also aware that interest rates are 2.5 times what they were a year ago.

Gotcha. OK say it gets green lit, what’s your big worry here? It also feels like you’re not giving the administration the benefit of the doubt that perhaps they may know their financial situation better than us?

I'm all for this project. It seems like we have demand for suites and more premium seats. Two years ago we dropped sports for financial reasons. The athletics department owes at least $5 on the 105 project (for which they have to raise money from donors to pay off). Their financial situation is not a secret.

So is your feeling that App athletics should never finance any project through debt? I’m just trying to understand the thought process from the folks on Apps message boards who at first mention of a new facility their first post has to be about the finances as if the admin is putting App in jeopardy.

[AppinVA]

You are aware that debt financed projects are the norm in college athletics, no?

I am. I am also aware that interest rates are 2.5 times what they were a year ago.

Gotcha. OK say it gets green lit, what’s your big worry here? It also feels like you’re not giving the administration the benefit of the doubt that perhaps they may know their financial situation better than us?

I'm all for this project. It seems like we have demand for suites and more premium seats. Two years ago we dropped sports for financial reasons. The athletics department owes at least $5 on the 105 project (for which they have to raise money from donors to pay off). Their financial situation is not a secret.

So is your feeling that App athletics should never finance any project through debt? I’m just trying to understand the thought process from the folks on Apps message boards who at first mention of a new facility their first post has to be about the finances as if the admin is putting App in jeopardy.

Dave Ramsey is an App fan?

[HighlandsApp]

If this was "fully funded", "green lit", "fully approved by AppState BOT and UNC BOG" and to be "completed by 2025"; then we wouldn't be looking at grainy cell phone photos of a poster of mock up with West Campus looking like 2014.....