The Governor doesn't want RU to borrow for sports facilities

[RC85]

RC1991 posted on 2/26/2015...

Originally posted by rutgersal:

Originally posted by ru8081:
I disagree. The state should pay for this and a new arena too. This is a disgrace that states that are just as financially strapped as NJ can get this done but we can't. The state can sign on to all kinds of suspect projects but not this one? Fight back and make NJ live up to itso called reputation (good one) or is it just a 3rd world state.Ourroads and bridges are falling apart, the transportation trust fund is running out, and the state is having trouble making pension payments. There are higher priorities for the state.

Our roads and bridges are falling apart because the state is spending money from the from the transportation trust fund on other projects not related to transportation. Our state let $2 billion disappear down the rabbit hole known as the School Construction Corporation (now the SDA) and the allowed the crook that can't account for that money to be appointed at a high level position at Rowan. The state continues to funnel billions to the so-called Abbott districts at the expense of
higher education who then turnaround and spend on unneeded administrative positions instead of on instruction for no ROI. Enough about the states higher priorities - if the politicians and their ilk weren't so damn corrupt in this state this wouldn't even be an issue!
______________________________________________________________________________________________________

$15-20 Mil is chump change to the waste and fraud in the NJ state budget.

This post was edited on 2/26 6:46 PM by RC85

 

[ruman]

The Big Ten should have said this is part of your entry fee. We should treat it in that fashion

 

[Caliknight]

Originally posted by brad1218:

It's not happening on our own. Bottom line. So if we can't borrow the money (taking no money from the state) then it won't happen. If it is not going to happen then we wake me up in 15 years because I can guarantee we won't win before that.

This is the way I see it. We can't borrow the money, and we aren't raising it. We will have to wait until we get full share B1G splits to even consider investment. People think I am kidding but I would seriously look into suspending the program until it is funded properly, and these are the reasons why. We can't even hope to win without real investment, and we aren't getting real investment until the B1G money comes in. It is really that simple.

Looking at our peer groups and other p5 schools, we have a loooong way to go. These schools have all been adding to their programs over the last 25 years, while Rutgers has stood still or in some cases, went backwards. No win situation, let's call it what it is.

 

[Scarlet Shack]

Some of the posts on this thread are absurd

ABSURD

I've borrows millions for business and paid it
Back and borrowed it again.

The only thing holding back Rutgers from borrowing money
Is Deciding to do it. The only thing

And why can't they decide to it

Political ramifications from public scrunity through media that is not reporting the whole story

We could build whatever we wanted with bonds easily within reason...except the school is not full committed on top to do so bexause of political
And public perception issues

That is IT

 

[rutgersal]

Originally posted by JPhoboken:

If you think season ticket holders and casual mens basketball fans, many of whom already donate and spend thousands on men's basketball are going to be able to donate enough to get a basketball facility, well sorry, isn't happening. You can give all the "we can get it done" speeches you want. It will only happen if some individual large donors anti up and or some corporate sponsors help. And yes, there is no reason RU can't show some commitment by helping, sorry, I disagree 100% with you on that.

We need a plan, a commitment from Rutgers, and strong leadership to get this done. We are in the BIG, and I agree with Lesniak wholeheartedly, we should start acting like it.

I agree its frustrating that RU alumni don't give more, but that won't change overnight. But we have seen how donations did increase once Football became competitive. Build a basketball program that includes the proper facilities, start showing some improvement on the floor, and the donations will increase even more. In the mean time,it is unrealistic to think the average alumni with lots of bills to pay is going to donate enough to build a men's bb facility.

We're going to MAKE IT HAPPEN. I don't care if it takes two years or ten years, somehow we MUST get this done.

We're not the only fanbase with bills. Every fanbase has bills, yet somehow, Syracuse, UConn, Villanova, and Temple have a practice facility, because their fans collectively pitched in, above and beyond their basketball ticket costs. I won't even get into the Cadillac Facilities that our Big Ten brethren have.

I agree that we need a plan from the administration. But I don't have any expectations beyond that because i understand the admins hands are tied.

below are some of the facilities from our nearest competitors:

- Syracuse's facility

-UConns facility

-Villanova's Facility

-Temple's Facility

 

[Greene Rice FIG]

Shack,

If you are truly looking at this as a business what keeps you awake in the middle of the night is the football team. You wake up in a cold sweat thinking about what 3 years of 1-7 in the B1G would do to the income statement. The football team is the core business and it has to be successful or it is curtains for the athletic department. At that point there would be no choice but to spend for a coach. Football has to bring in revenue and has to fill the Audi club. The basketball program is really an afterthought. Stadium expansion has done this....it also put us in B1G.

 

[RutgHoops]

Originally posted by Scarlet Shack:
Some of the posts on this thread are absurd

ABSURD

I've borrows millions for business and paid it
Back and borrowed it again.

How do you borrow money for a project with zero revenue potential? You are trying to get the equivalent of a business loan to buy a beach house for your COO.

I have yet to see ONE example of a University undertaking a practice facility project done any other way than on the backs of donors.