Stadium expansion info.

[ricepig]

http://www.wholehogsports.com/news/2017/apr/28/new-home-razorbacks/

[ImHogginIt]

"But when the university's board of trustees commissioned a feasibility study in 2013, administrators quickly realized they had underestimated the scope of the project. Primarily, they did not expect to need to demolish their own offices in the Broyles Athletic Center on the stadium's north side."


Huh ? Dumbasses like me in the West upper deck knew stadium expansion would call for demolishing the entire Broyles complex.

[Jackrabbit Hog]

"But when the university's board of trustees commissioned a feasibility study in 2013, administrators quickly realized they had underestimated the scope of the project. Primarily, they did not expect to need to demolish their own offices in the Broyles Athletic Center on the stadium's north side."


Huh ? Dumbasses like me in the West upper deck knew stadium expansion would call for demolishing the entire Broyles complex.

That's because dumbasses like you and me have lots more experience than they do at blowing stuff up.

[ImHogginIt]

That's because dumbasses like you and me have lots more experience than they do at blowing stuff up.

Well I'm not a state employee so I get paid to think a bit. Of course being a healthcare worker it kinda comes in handy.

[ImHogginIt]

"The foundation, the private fundraising arm for the athletics department, has secured commitments for 31 of the 38 suites, Varady said, and expects to have commitments for all 38 by the 2018 season because of a change in how the suites are offered"


But we've always been told we had a big ass waiting list on suites ?

Hmmm.......

[razoredge178]

"The foundation, the private fundraising arm for the athletics department, has secured commitments for 31 of the 38 suites, Varady said, and expects to have commitments for all 38 by the 2018 season because of a change in how the suites are offered"


But we've always been told we had a big ass waiting list on suites ?

Hmmm.......

Yah ricerice has talked about that long, long list before. Of course he's also stated that we're oversold on suites and premium suites, which according to this article is only about 91% accurate.

[bphi11ips]

Good read. Comprehensive. Renovations for the athletes and staff were definitely needed to stay competitive.

I noticed "the renovations will be paid back" in part through "media rights agreements".  Is that correct?

[longpig]

"But when the university's board of trustees commissioned a feasibility study in 2013, administrators quickly realized they had underestimated the scope of the project. Primarily, they did not expect to need to demolish their own offices in the Broyles Athletic Center on the stadium's north side."


Huh ? Dumbasses like me in the West upper deck knew stadium expansion would call for demolishing the entire Broyles complex.

When the walls were removed you could see Jeffrey sitting at his desk.

[ricepig]

"The foundation, the private fundraising arm for the athletics department, has secured commitments for 31 of the 38 suites, Varady said, and expects to have commitments for all 38 by the 2018 season because of a change in how the suites are offered"


But we've always been told we had a big ass waiting list on suites ?

Hmmm.......

Waiting list on the existing suites. I'm sure you don't understand, but the price of these new one's are quite a bit more than the existing ones. Also, because you are on a list doesn't require you to lease one, lol. There are several that post on here that have one of the 138 existing suites, I'll let them post what they pay. I'm sure you can do the math on the new ones. There was a wait list of about 30-40, looks like to me they are meeting their market.

[ricepig]

Good read. Comprehensive. Renovations for the athletes and staff were definitely needed to stay competitive.

I noticed "the renovations will be paid back" in part through "media rights agreements".  Is that correct?

Yeah, using the IMG media proceeds.


http://www.imgcollege.com/our-properties/colleges-universities/university-of-arkansas-fayetteville

[ImHogginIt]

Waiting list on the existing suites. I'm sure you don't understand, but the price of these new one's are quite a bit more than the existing ones. Also, because you are on a list doesn't require you to lease one, lol. There are several that post on here that have one of the 138 existing suites, I'll let them post what they pay. I'm sure you can do the math on the new ones. There was a wait list of about 30-40, looks like to me they are meeting their market.

Yeah I understand now some people currently are willing to pay three times more for endzone suites than sideline suites ? Dumbasses Probably all voted for Trump too. Yee Haw ! WPS !  Big Boy Bret better start being more than mediocre or this could get ugly especially with ESPN laying off folks and having massive financial commitments. Hope they don't file bankruptcy in a couple years.

[woodhog14]

Yah ricerice has talked about that long, long list before. Of course he's also stated that we're oversold on suites and premium suites, which according to this article is only about 91% accurate.

"The foundation, the private fundraising arm for the athletics department, has secured commitments for 31 of the 38 suites, Varady said, and expects to have commitments for all 38 by the 2018 season because of a change in how the suites are offered"


But we've always been told we had a big ass waiting list on suites ?

Hmmm.......

Reading comprehension can be your friend sometimes...we have always had a waiting list on suites.

Direct quote from the article:

"Our existing suites, we had a waiting list and people had to go on priority of membership level and priority points they have accumulated over their lifetime of giving, but with the new suites people were able to join the program but they didn't have to have a history of prior giving," Varady said. "You can come in and get a suite today without having that history of prior giving."

[Jackrabbit Hog]

Waiting list on the existing suites. I'm sure you don't understand, but the price of these new one's are quite a bit more than the existing ones. Also, because you are on a list doesn't require you to lease one, lol. There are several that post on here that have one of the 138 existing suites, I'll let them post what they pay.

Coupla mil a year for mine.  Pocket change.

[Oklahawg]

What I know about this is second hand. The existing suites went up in price and are accounted for at the new price. The new suites are not accounted for and are more than the 2016 price for existing suites but not as much as the new price for existing suites. I think I have that right.

Bottom line, the high rollers are willing to pay for cushy amenities and leave the rest of the stadium to the rest of us. We can lower GA and 2nd level prices and still come out ahead, plus fill the stadium more consistently.

Again, I may not be adding anything, and I may not be fully accurate. This is all second hand from someone I trust...but we haven't talked about it in a while.

[ImHogginIt]

Reading comprehension can be your friend sometimes...we have always had a waiting list on suites.

Direct quote from the article:

"Our existing suites, we had a waiting list and people had to go on priority of membership level and priority points they have accumulated over their lifetime of giving, but with the new suites people were able to join the program but they didn't have to have a history of prior giving," Varady said. "You can come in and get a suite today without having that history of prior giving."

Yes. Step right in and pay three times more than existing suite owners to get your suite in the endzone. Better hope Bret wins big soon because you are in the process of alienating many longtime RF and season ticketholders. There used to be a thing in Razorback athletics called loyalty. It was a two way street. That street has a lot of potholes in it now.

[Jackrabbit Hog]

Yes. Step right in and pay three times more than existing suite owners to get your suite in the endzone. Better hope Bret wins big soon because you are in the process of alienating many longtime RF and season ticketholders. There used to be a thing in Razorback athletics called loyalty. It was a two way street. That street has a lot of potholes in it now.

I'm perfectly happy with my 20 yard line seats among the riff-raff.  If Jeff and his honchos can get a passel of Waltons, Hunts, Tysons, Stephenses, Dillards and ricepigs to pay obscene prices for end zone suites, I say more power to them and it dang sure doesn't alienate me one bit.

[ricepig]

Yeah I understand now some people currently are willing to pay three times more for endzone suites than sideline suites ? Dumbasses Probably all voted for Trump too. Yee Haw ! WPS !  Big Boy Bret better start being more than mediocre or this could get ugly especially with ESPN laying off folks and having massive financial commitments. Hope they don't file bankruptcy in a couple years.

Umm....not 3 times, but they were definitely more. At one time there was going to be a $30,000-40,000 fee for upgrade of the existing suites, I think that has been shelved. Hopefully Trump will get his wishes on the "death tax" removal and the charitable deductions retained, plenty of donors to help pay for it.

[woodhog14]

Yes. Step right in and pay three times more than existing suite owners to get your suite in the endzone. Better hope Bret wins big soon because you are in the process of alienating many longtime RF and season ticketholders. There used to be a thing in Razorback athletics called loyalty. It was a two way street. That street has a lot of potholes in it now.

I find it funny that people complain about this. EVERY SCHOOL is doing this.

[woodhog14]

I'm perfectly happy with my 20 yard line seats among the riff-raff.  If Jeff and his honchos can get a passel of Waltons, Hunts, Tysons, Stephenses, Dillards and ricepigs to pay obscene prices for end zone suites, I say more power to them and it dang sure doesn't alienate me one bit.

Exactly. Me either!

[ricepig]

I'm perfectly happy with my 20 yard line seats among the riff-raff.  If Jeff and his honchos can get a passel of Waltons, Hunts, Tysons, Stephenses, Dillards and ricepigs to pay obscene prices for end zone suites, I say more power to them and it dang sure doesn't alienate me one bit.

I hope they can too, I just hope to be able to afford a little Jet-A....

[ImHogginIt]

I'm perfectly happy with my 20 yard line seats among the riff-raff.  If Jeff and his honchos can get a passel of Waltons, Hunts, Tysons, Stephenses, Dillards and ricepigs to pay obscene prices for end zone suites, I say more power to them and it dang sure doesn't alienate me one bit.

Ricepig could alleviate all this ill will if he would step down off that pile of money.

[Jackrabbit Hog]

Ricepig could alleviate all this ill will if he would step parachute down off that pile of money.

FIFY.

[ImHogginIt]

Umm....not 3 times, but they were definitely more. At one time there was going to be a $30,000-40,000 fee for upgrade of the existing suites, I think that has been shelved. Hopefully Trump will get his wishes on the "death tax" removal and the charitable deductions retained, plenty of donors to help pay for it.

Of course it was shelved.They have asked those people three or four times now and still can't get to the magic number of 38.

[ricepig]

Ricepig could alleviate all this ill will if he would step down off that pile of money.

Ha, my ass is dragging now, that pile is non-existent.

[ricepig]

Of course it was shelved.They have asked those people three or four times now and still can't get to the magic number of 38.

Those people weren't going to the new suites, they already had one. I bet they'll be full by Sept. 2018, you think not?

[ImHogginIt]

Those people weren't going to the new suites, they already had one. I bet they'll be full by Sept. 2018, you think not?

I bet they will then. It is the few years after that I have doubts about. Got a feeling at some point fans being loyal to the brand will start to fade quickly.

[ricepig]

I bet they will then. It is the few years after that I have doubts about. Got a feeling at some point fans being loyal to the brand will start to fade quickly.

7 year commitment, and they intend for you to keep it. Just ask some that had Gucci row seats under Pel and said they no longer wanted them....

Why would the fans change their loyalty, it hasn't for decades.

[The_Iceman]

Yeah I understand now some people currently are willing to pay three times more for endzone suites than sideline suites ? Dumbasses Probably all voted for Trump too. Yee Haw ! WPS !  Big Boy Bret better start being more than mediocre or this could get ugly especially with ESPN laying off folks and having massive financial commitments. Hope they don't file bankruptcy in a couple years.

You just can't help but throw a political jab in there. Keep that cheap out of here, it will only derail threads.

[bphi11ips]

Yeah, using the IMG media proceeds.


http://www.imgcollege.com/our-properties/colleges-universities/university-of-arkansas-fayetteville

That is an interesting answer. 

You're the inside guy with all the info.  I'm just a hillbilly music lawyer, but IMG in my world is an agent, not a source of "proceeds" (unless IMG is buying out the rights, which I doubt).  Quite the opposite.  Arkansas is a source of revenue for IMG, as in commissions on all the deals it brokers for Razorbacks sports.  My guess is that, with some exceptions (e,g. - SEC brokered deals like ESPN, again guessing), IMG is Arkansas's exclusive agent. In other words, all revenue from licensing, merchandising, sponsorships, television programming, etc., ("IMG Proceeds"?), after commissions, is fair game for retiring the bonds, which the article you posted says have a 20 year maturity - at least twelve years after the current ESPN deal is up (if ESPN pays for the full term).

Anyway, the bonds will be retired.  The renovations will be great.  When I asked yesterday if anyone knew the maturity date, you said that ticket revenue is the sole source for retiring the bonds.  That wasn't the question, nor was it my recollection.   

[LZH]

You just can't help but throw a political jab in there. Keep that cheap out of here, it will only derail threads.

He thinks we're all skinheads......

[ricepig]

That is an interesting answer. 

You're the inside guy with all the info.  I'm just a hillbilly music lawyer, but IMG in my world is an agent, not a source of "proceeds" (unless IMG is buying out the rights, which I doubt).  Quite the opposite.  Arkansas is a source of revenue for IMG, as in commissions on all the deals it brokers for Razorbacks sports.  My guess is that, with some exceptions (e,g. - SEC brokered deals like ESPN, again guessing), IMG is Arkansas's exclusive agent. In other words, all revenue from licensing, merchandising, sponsorships, television programming, etc., ("IMG Proceeds"?), after commissions, is fair game for retiring the bonds, which the article you posted says have a 20 year maturity - at least twelve years after the current ESPN deal is up (if ESPN pays for the full term).

Anyway, the bonds will be retired.  The renovations will be great.  When I asked yesterday if anyone knew the maturity date, you said that ticket revenue is the sole source for retiring the bonds.  That wasn't the question, nor was it my recollection.   

No, I said ticket sales would pay off the bonds, I never said it was the sole source of retiring them. Donations to these ticket sales will be used, as will athletic department revenue.

[bphi11ips]

No, I said ticket sales would pay off the bonds, I never said it was the sole source of retiring them. Donations to these ticket sales will be used, as will athletic department revenue.

So you were predicting that ticket sales alone will pay off the bonds?  Do I have it right yet?

[ricepig]

So you were predicting that ticket sales alone will pay off the bonds?  Do I have it right yet?

Is it that important to you what I predicted, lol?? I think ticket sales, and the donations tied to those will be enough to pay off the bonds. We had like $30m+ in ticket sales last year, I feel confident that $30m+ will make the annual payment on our bond obligations.

[bphi11ips]

Is it that important to you what I predicted, lol?? I think ticket sales, and the donations tied to those will be enough to pay off the bonds. We had like $30m+ in ticket sales last year, I feel confident that $30m+ will make the annual payment on our bond obligations.

Lol. Just important for you to admit you were misleading yesterday, and that is generous.

[justmakeit2thebcs]

Clubs and suites accounted for 37.6 % of revenue last year.   98% of available were sold....

[ricepig]

Lol. Just important for you to admit you were misleading yesterday, and that is generous.

Nah, you put it in your perceived context of choice. I guess one would have to ask Clayton Hamilton how the money is allocated, the SEC TV money may all be used for Women's and Olympic sports for all we know.

[longpig]

Lol. Just important for you to admit you were misleading yesterday, and that is generous.

You should have someone explain the article to you.

[HawgPilot]

I hope they can too, I just hope to be able to afford a little Jet-A....

Jet-A is not too expensive right now.

[ImHogginIt]

7 year commitment, and they intend for you to keep it. Just ask some that had Gucci row seats under Pel and said they no longer wanted them....

Why would the fans change their loyalty, it hasn't for decades.

Not talking about loyalty of being a fan but about being ticket holders. I was a season ticket holder for 20 years. Still love the Hogs but prefer to watch on TV the past few years.

[ImHogginIt]

You just can't help but throw a political jab in there. Keep that cheap out of here, it will only derail threads.

Yeah I crossed the line there. Sorry

[ricepig]

Not talking about loyalty of being a fan but about being ticket holders. I was a season ticket holder for 20 years. Still love the Hogs but prefer to watch on TV the past few years.

And someone took your place, just like someone has for years. Now, I do think the change in people's needs, wants, and viewing habits will more than likely limit any need for a lot bigger stadium. However, the university is more than doubled in size since my days, lots of alumni, surely one will take your or my seats.

[ImHogginIt]

And someone took your place, just like someone has for years. Now, I do think the change in people's needs, wants, and viewing habits will more than likely limit any need for a lot bigger stadium. However, the university is more than doubled in size since my days, lots of alumni, surely one will take your or my seats.

Probably as long as we have some good seasons thrown in there. If we remain mediocre at best who knows.

[bphi11ips]

You should have someone explain the article to you.

Are you rice's slack?  Rice don't need no slack.

You should ask rice to explain Reply #105 in "ESPN Layoff".  The clear implication was that the term of the ESPN/SEC contract is irrelevant because the bonds will be repaid from ticket sales.  The context was in reference to Biggus' s statement that ESPN's financial problems and likely future problems make it a bad time for stadium expansion.

How specific revenue streams are earmarked, if they are, is immaterial.  Revenue from athletics is pledged for 20 years to repay the bonds.  A substantial portion of that revenue is derived from licensing television broadcasts.  A downturn in that revenue doesn't mean Arkansas will default on the bonds.  But ticket sales are not the sole source of revenue to retire the bonds.  No one would want to buy them if it were. 

Read the article and you'll get it. 

[ricepig]

Probably as long as we have some good seasons thrown in there. If we remain mediocre at best who knows.

Well, I've been going to games for years, we've usually been mediocre, if SEC championships are your measuring stick, but we've always had a few good seasons too.

[ImHogginIt]

Well, I've been going to games for years, we've usually been mediocre, if SEC championships are your measuring stick, but we've always had a few good seasons too.

5 crappy to mediocre seasons in a row right now. 9 and 10 win seasons would be nice to have 50% of the time. Maybe CBB will start to achieve that.

[ricepig]

5 crappy to mediocre seasons in a row right now. 9 and 10 win seasons would be nice to have 50% of the time. Maybe CBB will start to achieve that.

We've had 6 in the 25 years since joining the SEC, hopefully it will improve.

[woodhog14]

5 crappy to mediocre seasons in a row right now. 9 and 10 win seasons would be nice to have 50% of the time. Maybe CBB will start to achieve that.

Seriously??? We have had ELEVEN seasons in OUR ENTIRE HISTORY of 10 or more wins. ELEVEN out of 100 something years of football.

And you EXPECT to win 10 games 5 out of 10 years. BAHAHAHAHAHAHAHAHAHAHAHA!!!!

[bphi11ips]

It's those 10 win seasons that keep us coming back.  Sort of like birdieing 18 to shoot 92.

[ricepig]

It's those 10 win seasons that keep us coming back.  Sort of like birdieing 18 to shoot 92.

I do it every round, sometimes it's just a out of the world par.....

[ImHogginIt]

Seriously??? We have had ELEVEN seasons in OUR ENTIRE HISTORY of 10 or more wins. ELEVEN out of 100 something years of football.

And you EXPECT to win 10 games 5 out of 10 years. BAHAHAHAHAHAHAHAHAHAHAHA!!!!

Read my damn post again. I clearly said 9 and 10 win seasons not just 10