Marylands New 150M Practice\S&C Facility
- Thread starter rutgersal
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anon_ivydyf0amkzay
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Really?
I think we're the ones who will be laughing from our $150 million complex.
Good luck trying to pay for it. Maryland's athletic department is deep in debt, and is totally dependent upon donors and the state to pay for it.
Probably not any time soon. Like already stated, U Maryland is in worse shape than we're in.
Meh, looks like someone with new money went cheese ball with the help of some bleach blond bimbos with fake boobs.
Or the architect was drunk.
The RAC is hideous but at least it was cheap and looks good inside.
Or the architect was drunk.
The RAC is hideous but at least it was cheap and looks good inside.
Hey look, another dipshit Penn State fan who doesn't understand how things work but wants to run his mouth anyway. The AD doesn't matter one bit on stuff like this. It comes from private donors, and the vast majority of the money needed has been raised.
105 million is coming from private donations and rental income, 25 million is coming from the state over 5 years in 5 million installments and 25 million will come from B10 athletic revenues. Plank donated 25 million.
I think they're also incorporating some center for sports medicine and some innovation/entrepreneurship academy with it so it has some academic use as well.
http://www.umdrightnow.umd.edu/news/university-maryland-unveils-new-vision-cole-field-house
I think they're also incorporating some center for sports medicine and some innovation/entrepreneurship academy with it so it has some academic use as well.
http://www.umdrightnow.umd.edu/news/university-maryland-unveils-new-vision-cole-field-house
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I dunno...look at that picture of the locker room, that guy's face on the left. This place looks like it's going to mutate the players. ;)
Big deal. Guess you haven't seen the new posters in our dugout..,
Another dipshit who doesn't realize that it's the AD that has to pay to maintain this facility, but still runs his mouth. Probably a few million dollar a year increase over what they pay now, adding to their debt.
That's how things work.
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This is what Edsall sells to recruits. It is real and funded. What does Flood have to sell? The faculty senate passing a bill that forbids such investment? Flood may be bad but he is playing a losing hand. This is more a Rutgers problem than a Flood problem. Edsall is not that superior. In fact, he is probably a lot worse head coach than Kyle Flood. Why doesn't this piss people off? Flood is not a bad guy. He does get crap for support, and is a gentleman about it.
Yeah - thats the new thing to make these things politically palatable. I think RU is doing the same thing if and when it ever gets around to redoing the area around the RAC.
Yea I figured, that's why I included that little bit of info. I'm guessing that's how they got the 25 million from the state. The same way we're trying to use that parking garage thing to possibly get some state funding.
Regardless though, it's still majority being privately funded and the rest coming from the athletic department and state. It's the same issue though I've said repeatedly every time these projects other schools undertake are brought up. Many of them are funded with a large chunk of funds coming through private donations and then possibly some athletic revenue bonds to fund the rest. That's something we've never done on that scale for athletics.
Without being able to attract "new" donors (non-alums/previously disinterested alums/local businesses), I find it hard to see how we come up with those kind of numbers. I've always said the existing pool isn't large or deep enough. I'm sure we've gotten about as much as we're going to get from those who are "consistent" donors, how much more blood can be gotten from that stone? I tend to think it's marginal. So hopefully JH/SB are able to find more deep pocketed donors like the Towers.
The cost of maintenance is minimal compared to the cost to build it, but okay. Not to mention the athletic department is not nearly as in debt as you may think. The Big Ten has already paid dividends in a big way and there are going to be absolutely zero reasons this building won't operate without any concerns. Good try though!
How nuch are they in debt then? The fact that you won't say a number makes me curious.
Good try though!!
You truly are a simpleton. Maryland is VERY profitable and they do owe debt, but that is because as we pay for our upgrades to the stadium. The kind of upgrades you had to take LARGE portions of money from the state and school. Maryland athletics is self-sufficient, however during HORRIBLE years of football and basketball and the highest years of bond payments we lost a lot of money and were deep in depth. So we cut some sports and joined Big Ten. We are now making money hand over fist and paying off those loans and even WITH this huge expansion to football we are totally in black in 2018.
The money coming in for that facilty is Under Armour, private donors, the school, the state, school of medicine, and B1G profits.
The money coming from the school and state will go for medical facilities and classrooms used for all students but with a focus with business, research and medical training.
The private and booster moneys is ALREADY in place, hence construction starts in December.
We were in debt, that does not mean we aren't very profitable. With B1G money coming a #1 or #2 ranking in basketball and people excited about Haskins and football, we should have debt paid off very fast. Those were not things we were expecting to boost our bottom line.
No, it is you who are the simpleton. You are in depth (debt) and are still profitable (what is the amount of your debt service)?? HINT,HINT You are not profitable if you are relying upon private donors and the state (which includes me) to fund you. If you are profitable, fund the damn thing yourself. Remind me not to be a business major at Maryland.
You are saying that you are in the black in 2018, which means you are in the red NOW!! Correct?? Have to laugh that you are counting on a HS kid to get a university out of debt.
As far as you ranking in basketball, good job bringing in a player from Duke with TWO sexual assault allegations, as well as being the only player EVER kicked off the the team by Coach K, Congrats you deserve alot of credit.
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B1GTerp. You have to be prepared when you post on this board. Better have the right debt numbers. Think of it as a court deposition where you had better have ALL your facts correct because EVERYONE here is an authority on sports finance. LOL
Congrats on the new facility and congrats on being a factor in so many sports in your 1st year in the BIG.
Allegations were investigated and he was never charged & Duke didn't even dismiss him from school. In fact Sulaimon is going to graduate in three years. Plus Maryland would have been ranked in the Top five in the preseason without him.
Besides, what school would allow a known sexual predator to remain on campus and have access to their facilities?
You are an idiot. How do you think Penn State funds there athletic facilities? The same way Maryland does. They use a combination of state money, private donations, athletic funds, university funds and borrow the rest. Penn State is still paying debt service on several project.
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Maryland is roughly $105 million in debt. I've not seen it reported anywhere that UMD will be profitable by 2019. Maryland will be in the black by 2021 according to the Baltimore Business Journal. That $105 million includes $31 million from the ACC settlement (which was offset the $35 million travel stipend the Big Ten pays Maryland) and $55 million in capital expenses at the football stadium and basketball arena. It's also worth noting that Maryland gets 85% of a full pay out this year opposed to the 35% Rutgers received. Maryland will receive a full Big Ten share in 2019, just in time for the likely record setting payouts associated with the new B1G TV contract.
Maryland does private fundraising better than Rutgers currently does and has the capacity to execute with great ingenuity. The $155 million price tag for Cole Field House, which will include the Terrapin Performance Center, the Maryland Center for Sports Medicine, and the Academy for Innovation and Entrepreneurship, is being funded by $105 million in private donations and income associated with the facility's two other tenants. The state has already approved its portion.
Fwiw, Maryland also recently secured a large private donation to fund a world class new soccer stadium becoming of its men's program that has been to 7 of the last 13 Final Fours, winning two national titles in that stretch. Maryland is also raising private money for a new basketball practice facility. The Terps being the likely preseason #1 or #2 team in college basketball next season should continue the interest in that project.
No entity wants to be in debt, but let's not act as if debt and new capital projects are mutually exclusive in any budget.
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RAC is a very uncomfortable place to watch anything. I was at a graduation ceremony and I am still sore.
Those projections were based on Maryland's revenues around 2012. It was not predicted we would be a top 25 team in basketball in 2014-15 and it certainly did not predict we would be a top 5 team in 2015-2016. Factor in Football getting Haskins and there is some buzz ticket sales and merchandising for Maryland is way above what those predictions were based on. Ticket sales and merchandizing are variable and really based on winning.
Finally the Big Ten having Ohio State national champs, Harbaugh back at Michigan, Maryland a top 5 team in basketball a again, and Wisconsin two back to back final fours (Indiana and MSU are pillars of B1G basketball and will always draw) while they are going into the final year of your contract is where you wish to bid for Tier 1 and Tier 2 rights is exactly the position you want to be in. Fox and ESPN will be in a seriously bidding war in the open market, unless ESPN renews early.
The yearly pay out for the B1G TV rights with a relevant football conference, several big name rockstar coaches, is going to be around 45-55 million a year per school.
That's how yo uget in the black 2-3 years earlier than predicted based on 2012 revenues.
Exactly, at the end of the day they still have an Edsall in the garage.
It will get funded by Kevin Plank. That dude uses the university of maryland as his personal showcase. Anywhere you go around maryland and baltimore (Baseball/football fields, parks, college campus's, accross the harbor from Fells Point) you see Under Armour plastered over everything. If there's one guy who will make sure this happens, it's Kevin Plank
Wonder where Plank was when Maryland was still in the ACC sinking into a financial abyss along with its losing football team???
Shimmy24 said: ↑
Penn State fan to the rescue! o_O
I know it makes me feel a little ill. But he's right.
Shouldn't make you ill, ( can't believe I'm saying this) not all Nits are NitWits, there are some like PSU_Nut
that are pretty decent .
Penn State fan to the rescue! o_O
I know it makes me feel a little ill. But he's right.
Shouldn't make you ill, ( can't believe I'm saying this) not all Nits are NitWits, there are some like PSU_Nut
that are pretty decent .
Under Armour was founded in 1996 while Maryland was in a long term agreement with Nike. In fact the first season Maryland's basketball team wore Under Armour uniforms I'm pretty certain they still wore Nike shoes because UA didn't have basketball shoes yet.
Great facility and one that makes Rutgers fans jealous and envious. How they are getting it done is immaterial....they are getting it done while we do nothing but complain. The big factors that Rutgers doesn't have...a full or decent state commitment and the ability to derive income from other sources. Among these are private donations, rental income, and figuring a good way to integrate other academic programs in the facility itself.
I've said for years that if Rutgers were to build a new RAC or all purpose facility it should be certain to include space for certain medical and athletic training and rehabilitation type programs that can be tied directly into the med school. This might include the addition of certain majors such as physical therapy and geriatric programs as well as athletic training which the school does not offer.
Also ample classroom space that might be needed and constructed at a reduced cost or even rented back to the University. This would be similar to what the University is charging Rutgers athletics to pay for use of the Werblin Center (swimming), College Ave Gym (wrestling) and Livingston (for gymnastics). All false accounting. These funds could be used to help offset the financing of a new super all purpose facility. Might even be able to eliminate the Bubble and shift those expenses to partial debt retirement.
No its not that easy but give Maryland and other schools credit for having some vision and creativity and a plan. It at least appears that Julie has been working on trying to do something similar and this is wher her past experience and knowledge will pay dividends.
And folks don't sell Edsall short. He did a very good job at UCONN with less and won a BE title and played in a major bowl. While he may not be a high profile coach he apparently is able to help the scool get some of the funding it needs. That's no reflection on Kyle because the big difference between situations is having a full commitment from the University and State. When you have thst then it makes getting support via private donations is much easier. Things like getting a high profile sponsor for stadium naming rights at a much higher rate is one small example.
I've said for years that if Rutgers were to build a new RAC or all purpose facility it should be certain to include space for certain medical and athletic training and rehabilitation type programs that can be tied directly into the med school. This might include the addition of certain majors such as physical therapy and geriatric programs as well as athletic training which the school does not offer.
Also ample classroom space that might be needed and constructed at a reduced cost or even rented back to the University. This would be similar to what the University is charging Rutgers athletics to pay for use of the Werblin Center (swimming), College Ave Gym (wrestling) and Livingston (for gymnastics). All false accounting. These funds could be used to help offset the financing of a new super all purpose facility. Might even be able to eliminate the Bubble and shift those expenses to partial debt retirement.
No its not that easy but give Maryland and other schools credit for having some vision and creativity and a plan. It at least appears that Julie has been working on trying to do something similar and this is wher her past experience and knowledge will pay dividends.
And folks don't sell Edsall short. He did a very good job at UCONN with less and won a BE title and played in a major bowl. While he may not be a high profile coach he apparently is able to help the scool get some of the funding it needs. That's no reflection on Kyle because the big difference between situations is having a full commitment from the University and State. When you have thst then it makes getting support via private donations is much easier. Things like getting a high profile sponsor for stadium naming rights at a much higher rate is one small example.
Edsall is doing a fine job at Maryland. Maryland isn't exactly a football power and definitely gets overshadowed by basketball at UMD, but even still he is able to put a decent product on the field (although this year will be rough for MD) and get some nice recruits. The facility is going to put MD football on the map, definitely a team on the rise who will make noise in this conference.
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