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OT: Penn State approves $700 million stadium upgrade

I don't know, $700 mil to start, don't forget the cost overruns, paid for by donations, concessions, and tickets, not really buying it. At the end of the day, I would bet the farm in Belleville that there will be taxpayer funds involved.
Belleville? Never thought I would see that here. 🤣
 
The University is a STATE university. Of course it's state money, one way or another, because a state entity will be spending it... no matter how they collect it. State employees and venues will be used to raise the money... one way or another.

But I have no problem with it. Good for them. They should take all their NIL money and put it into that stadium instead. đź‘ż
Penn State is not a state entity. It is state related as it receives some funding from the state but it is not a state school. It is the same as Pitt, Temple and Lincoln Universities. The employees and buildings are not owned by the state.
 
Yes it is. It will be a bond guaranteed by the state, just like Rutgers on the last expansion. Unfortunately Rutgers is still on the hook for paying every dime. Penn State will not. Different states and different results
No the state won't because Penn State is not owned by the states. The bonds are issued by the university, backed by the university and insured by private firms. They are not state issued bonds.
 
A few things from the article

1. Nobody recognizes it as the best stadium in America

2. Without a roof, it’s doubtful they’ll be hosting playoff gamesz

3. Pics look good, big improvement. Which is good bc, right now, the place is a dump that looks like it was put together by a blindfolded toddler
They will host play off games there. There is no roof requirements to host the playoffs. Part of the renovation is to allow the venue to host playoff games.
 
They will host play off games there. There is no roof requirements to host the playoffs. Part of the renovation is to allow the venue to host playoff games.
We'll see

With Met Life in the shadow of NYC, unless you guys add a bunch of suites, it'll be a hard sell
Not to mention the cold weather in December

Early rounds yes, if you guys are in and are the higher seed, you'd therefore be hosting
Later rounds at neutral sites, I'd be very surprised
 
No the state won't because Penn State is not owned by the states. The bonds are issued by the university, backed by the university and insured by private firms. They are not state issued bonds.
Let me get this right. The state passed an act creating Penn State.. but it is not controlled by the state.. the state has no ownership over it? Did the state grant the lands for it? I read they did not contribute toward maintenance for the first 20 years or so.. but surely the state provided something of value before the Morill Act funds came Penn State's way.

Still bugs me how foolish New Jersey politicians and Rutgers were and how good Cornell's were in selecting lands and how to use the grant. But I suppose we got lucky that the Governor was having a feud with Princeton when the Land Grant thing happened. I wonder what Penn State did with the granted lands.
 
2. Without a roof, it’s doubtful they’ll be hosting playoff gamesz
1st round games the higher seed gets home field. After that round, no way in hell are they getting a game there without a dome and anyone who says otherwise is an idiot. Those rounds are reserved for the current bowl tie in games in warmer weather stadiums.
 
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No the state won't because Penn State is not owned by the states. The bonds are issued by the university, backed by the university and insured by private firms. They are not state issued bonds.
I didn't say they are state issued bonds. I said they would be guaranteed by the state. Reading comprehension on this site is at an all time low.
 
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1st round games the higher seed gets home field. After that round, no way in hell are they getting a game there without a dome and anyone who says otherwise is an idiot. Those rounds are reserved for the current bowl tie in games in warmer weather stadiums.
Agree
 
A couple of points.

Penn State like Pitt and Temple is a "State Related" University.

The State Related status gives the University a significant amount of autonomy. The Commonwealth can only appoint 35% of Penn State Board of directors while Penn State appoints 65% of the remaining Board.

Pennsylvania also has a true State University System of Schools (Originally 14 schools). Over the last several years (Due to significant decreases in student body) the State University System was financially forced to consolidate the schools/programs. The Pa. State School System now consists of only 10 Schools. Three state schools in Western Pa were consolidated into one (Penn West) and three schools in Eastern Pa were consolidated into one (Penn East).

Penn State which has 20 Branch Campuses is now facing significant financial distress due to significant student body declines at most of its branch campuses. In fact, they are asking profs to retire early in an attempt to reduce the financial difficulties at the Branch Campuses. The State University System was confronted with the same problems that Penn State is facing now and their answer was explained above. Penn State wants more money from the State but you can be sure Pitt and Temple will have their hands out asking for more also.
It is hard to ask for increased funding from the state when you have $700 million for a revamped stadium which will be used only 7 times a year maybe for 28 hours total.

Student body decline is not unique to Penn State. In fact most university systems face the same problems due to a decrease in the number students graduating from high school and less high school students wanting to go to college (double wammy).

Pitt fortunately only had 4 Branch Campuses to deal with and in essence had to close one (Titusville).

Money spent on Research Facilities (used 24/7) rather than Football Stadiums (used 7 times per year) have a better ROI

HAIL TO PITT!!!!


Pennsylvania "State Related Universities" explained again.

HAIL TO PITT!!!!
 
We'll see

With Met Life in the shadow of NYC, unless you guys Early rounds yes, if you guys are in and are the higher seed, you'd therefore be hosting
Later rounds at neutral sites, I'd be very surprised
No one expects or thinks Penn State going to get any of the neutral site game. It has nothing to do with the stadium. The entire town not big enough to host it. This is about hosting the first round games that will be on campus.
 
No one expects or thinks Penn State going to get any of the neutral site game. It has nothing to do with the stadium. The entire town not big enough to host it. This is about hosting the first round games that will be on campus.
Then why would they even say it?

Even the current dump in its distorted iteration would be hosting, as would Presumedly all higher ranked teams
 
I didn't say they are state issued bonds. I said they would be guaranteed by the state. Reading comprehension on this site is at an all time low.
If you are going to call someone one out for reading comprehension you should reread what I said. The bonds are not guaranteed by the state. They are guaranteed by a private capital companies. Barclays Capital wrote the last ones. These are not municipal or government bonds as Penn State is not a government agency.
 
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Then why would they even say it?

Even the current dump in its distorted iteration would be hosting, as would Presumedly all higher ranked teams
They are referring to hosting first round games. Beaver stadium is not winterized so a prolonged freeze could have prevented Penn State from hosting. Without the renovation Penn State is very likely to not be able to host the games and be forced to play the home game at a nearby stadium.
 
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Let me get this right. The state passed an act creating Penn State.. but it is not controlled by the state.. the state has no ownership over it? Did the state grant the lands for it? I read they did not contribute toward maintenance for the first 20 years or so.. but surely the state provided something of value before the Morill Act funds came Penn State's way.

Still bugs me how foolish New Jersey politicians and Rutgers were and how good Cornell's were in selecting lands and how to use the grant. But I suppose we got lucky that the Governor was having a feud with Princeton when the Land Grant thing happened. I wonder what Penn State did with the granted lands.
It is a very strange and unique situations. It the exact reason Penn State was never forced to release Paterno salary. Back in the early 2000s the Patriot News sued to have the university release Paterno salary. It went to the state Supreme Court which help held that no Penn Stare employee is a government employee so their salary is not public like a teacher or a police officer. Penn State operates under the grey state related as a quasi public private venture. However because the school allows employees participate in the public employee pension if the employee opts to participate the contribution and salary is public information.
 
It is hard to ask for increased funding from the state when you have $700 million for a revamped stadium which will be used only 7 times a year maybe for 28 hours to

Money spent on Research Facilities (used 24/7) rather than Football Stadiums (used 7 times per year) have a better ROI

HAIL TO PITT!!!!
If Pitt is so financial responsible why are they spending $240 million Volleyball arena for volleyball team that loses money and it fiscally irresponsible to spend $700 million on a program that makes $110 million a year. I don’t understand your obsession with uses per day. So do you think Accisure stadium 15 days has a smaller economic impact per year then say Gateway High School gym because it host games 90 times a year?

If you wanted schools to be fiscally responsible you would lobby for Pitt to drop athletics as it loses millions a year. Last year Pitt athletics lost $36,972,180. Meanwhile Penn State athletics is completely self sufficient and had a $10.7 million surplus that same year.
 
They are referring to hosting first round games. Beaver stadium is not winterized so a prolonged freeze could have prevented Penn State from hosting. Without the renovation Penn State is very likely to not be able to host the games and be forced to play the home game at a nearby stadium.
I have no earthly idea what "not winterized" means, let alone why that would preclude them, or any other cold weather team, from hosting
 
If Pitt is so financial responsible why are they spending $240 million Volleyball arena for volleyball team that loses money and it fiscally irresponsible to spend $700 million on a program that makes $110 million a year. I don’t understand your obsession with uses per day. So do you think Accisure stadium 15 days has a smaller economic impact per year then say Gateway High School gym because it host games 90 times a year?

If you wanted schools to be fiscally responsible you would lobby for Pitt to drop athletics as it loses millions a year. Last year Pitt athletics lost $36,972,180. Meanwhile Penn State athletics is completely self sufficient and had a $10.7 million surplus that same year.
LOL!!!!

We are a "State Related" University we can do what we want.

Pitt brings in $1.16 Billion per year in outside Research Grants and is recognized as an outstanding Global Research University with their #45 ranking in US News (2024) Global Universities.

Pitt with an Endowment of $5.5 Billion is financially Strong (I realize endowments are restricted).

As I stated previously, the ROI of Research Facilities is significantly better than on Sports Facilities.

Save the $700 million and spend it on Research Facilities. Your fans will still come and sit on benches.

Well Penn State will have to address the financial issues confronting the Branch Campuses because the state will not because you are a State Related University.

HAIL TO PITT!!!!
 
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I have no earthly idea what "not winterized" means, let alone why that would preclude them, or any other cold weather team, from hosting

I also found that odd also.
Maybe the pipes freeze?

I don't know for sure but would imagine it could get cold out there by Thanksgiving (normal time the season ends).
Wouldn't think it would ne much different for a late December game v. a late November game.
 
I have to say - of all the side and off topic conversations that occur in threads, my least favorite is the reoccuring "Pitt/PSU pissing match over state related and spending" is my least favorite.
 
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I also found that odd also.
Maybe the pipes freeze?

I don't know for sure but would imagine it could get cold out there by Thanksgiving (normal time the season ends).
Wouldn't think it would ne much different for a late December game v. a late November game.
I also find it odd that other perennial playoff teams in cold weather climates (Michigan and OSU) haven't indicated they'd be redoing their stadium to host playoff games with the winterizing schtick
 
It is a very strange and unique situations. It the exact reason Penn State was never forced to release Paterno salary. Back in the early 2000s the Patriot News sued to have the university release Paterno salary. It went to the state Supreme Court which help held that no Penn Stare employee is a government employee so their salary is not public like a teacher or a police officer. Penn State operates under the grey state related as a quasi public private venture. However because the school allows employees participate in the public employee pension if the employee opts to participate the contribution and salary is public information.
Do we know if Paterno did that? Or was that information quashed also.
 
Hopefully those $$ will help beautify the stadium because it might be the ugliest stadium in the country
 
Do we know if Paterno did that? Or was that information quashed also.
Yes and they released his salary but it was only the part that was paid directly from the University that counted towards his pension. It didn't include thinks like the Nike or TV money.
 
I also find it odd that other perennial playoff teams in cold weather climates (Michigan and OSU) haven't indicated they'd be redoing their stadium to host playoff games with the winterizing schtick
My understanding is that it's talking about things like insulating pipes so that they don't freeze (Michigan and Ohio State's stadiums aren't exposed to the elements quite like Beaver Stadium), and sub-ground heating so that the grass is still growing into the harsher parts of December (neither Michigan or OSU have natural grass).
 
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