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Facilities Plans...
- Thread starter BlackNGold
- Start date
And we're going to hit $50M by next month??
Donation bot time
The last number I have been told is about 36mm about 4 weeks ago. At the time they were touting heavily the mystery 10m from the Foundation and the 5mm from Levy so realistically they had raised 21mm against a reduced private donation target of 35mm. Either way you slice the numbers they are over halfway but still a long way from where they had hoped to be.
No would be my geuss unless they can pull another corporate rabit out of the hat.
What I'm worried about is that the project cost is about $150 million. Not $50 million. That is just to get started. It just really looks like the fund raising momentum has slowed way down. It took a $10 million contribution to get to $40 million +/-. How the hell do we get to $150 million? i assume we would finance it.
On the soil sample thing. That is just part of the design process. You can't design footings without the geotech information. Where were they taking them? Were they doing borings (drill rigs)? They would be doing those at the location of the future building.
Edit: Just reread 'tini's post. The borings are for the foundation design of the IPF I assume.
On the soil sample thing. That is just part of the design process. You can't design footings without the geotech information. Where were they taking them? Were they doing borings (drill rigs)? They would be doing those at the location of the future building.
Edit: Just reread 'tini's post. The borings are for the foundation design of the IPF I assume.
Not according to that article. $47.6M
Most common number I've seen has been $43MM to break ground.
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While you are functionally correct, both are in the top 20 contributors, there is other money in there both George and Benson are in the low six figure range - there have been some 7 figure contributions as well as some high 6 figure donations to the project outside of the corp money. There is 1 corporate rabbit left in the hat in the form of the hospital bidding to take the lead on the high performance center we all assume it would be Anschutsz but there are several others bidding as well.
I'd be pretty shocked if we broke ground April 12 or within the next 3 months. I walk by that area every day and it looks like it'd be a major PIA to build there. They'd have to destroy the recycling buildings and then add a ton of dirt there. I think we're looking at a Spring '16 completion date rather than Aug '15
According to the plan outlined and approved by the BOR, that isn't a done deal. Not by a mile. You are still missing nearly a quarter of the needed up-front funding. If you were to use that terminology in the business real world, you would be laughed out of the office while being handed a pink slip.
We are missing, by reports, 5-7mil depending on what number you believe we need, outside odds though 7/47.6 = 14.7%
In the business world, if you miss quoted a shortage by over 10% when dealing with millions you would be laughed out of the office while being handed a pink slip.
It is not an absolute done deal because we need at most another 7 million to meet the regent mandated 1/3 of funding, but they are paying a design firm and have hired a GC. It is closer than we have been at any point in the past decade.
From who, your buddies at Rivals? Either Ringo misquoted the Board of Regents in that article or you're off. Regardless, that's several million dollars we still need in order to start next month.
Ringo, in chat today: "George still seems supremely confident to me. I asked him if there was any chance they push it back a year and he said no. He has been working all along on the timeline of starting sometime in April or the first half of May and that is still doable."
It's a done deal that the facilities will be built, the fundraising is not. You are reaching for things I did not say. There isn't a "maybe they'll get done" here, the facilities pitch is a big one that has been told to every recruit and neither RG or MM can afford to not deliver them in roughly the same time scale they have laid out to recruits.
If it was my number that I pulled out of my ass you'd be right, but this isn't a number I came up with. You'r relying on articles by Ringo to get an update on the costs, but the reality is there is a lot going on behind the scenes that few of us know about regarding the numbers. If you remember it wasn't for a couple of months after Bruce got the foundation to give $10MM for facilities when we heard about it
So what's your issue with Rivals now? Seems like you're hating on the poster on Rivals without even knowing who he is. Patr doesn't post much, but when he does it's meaningful. Shldr2Shldr and Abs backed that number sort of by saying we have ~$36MM raised and are $6-7MM off which would mean the magic number is roughly between $42MM and $45MM ($45 is the higher end accounting for growth between the time period Abs laid out and now)
SIAP, but what's Solich's deal? Has he contributed yet? If not, why not?
Solich isn't the only alum and CU benefactor with a lot of money. Especially with the facilities tying in a sports performance and rehabilitation medical research facility, there are folks like Anschutz (and nutritional, equipment and pharmaceutical companies) that are included within the universe of potential donors.
I know he was mad at CU for dragging his name through the Bohn firing. He is also looking to purchase or is in the process of purchasing some new business. Funds from him are likely not coming.
Last I heard it was 2 things:
1) Rubbed the wrong way and has an issue with Benson. (But he hadn't written a big check despite being front & center before, so who knows how on board he ever was.)
2) Pat Bowlen may not be around much longer as the Denver Broncos owner. Solich may want to hoard his cash to make a play there.
Yes I'm aware what 143/3 is, however you're under the assumption that the cost hasn't been decreased at all when in reality to hit the timeline RG proposed it is possible (no, I don't know what all that would entail from a regent perspective and all that). Abs also said there is still one corporate rabbit out of the hat possibility, and that could bring in a large sum of money and would complete the initial fundraising stage.
Nik eluded to wealthy nutritional company alums, one MusclePharm's founder is a CU grad and MP is a fast rising company and has already won multiple awards for best supplements in various areas, I'd love to see a deal worked out with them for some funding. CU has a contract will Muscle Milk so I'm not sure if that would violate the terms of that contract.
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Are those guys involved in the AD at all or are they just rich CU grads that could hypothetically donate?
I just go back to the delayed ground breaking, I feel like if we were that close they would do it now, and putting it off tells me they are still a ways away from our goal. The AD could release numbers that would end the speculation, but they seem unwilling or unable to do that.
I just go back to the delayed ground breaking, I feel like if we were that close they would do it now, and putting it off tells me they are still a ways away from our goal. The AD could release numbers that would end the speculation, but they seem unwilling or unable to do that.
No dice on MP, their name has come up before but if you look at the company - in early 2013 they had to sell more equity to pay debts, in the final quarter of last year they lost 6 million dollars. They are a promising young company with exciting products and some good partnerships, who may turn a profit this year (the markets dont think so with the OTC stock down 30% in the past 5 months). They are not now and have not recently been in any position to be financing **** and the execs is they are doing a good job and looking out for the company arent being paid enough to affect this project.
When? Anyway, when I posted that, I didn't look at all their financials, was just bringing up a possible idea.
I retract the dog/bone part it was another you poster with this idea last time.
My post has been edited.