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Okie State broke?

Discussion in 'Colorado Football Message Board' started by Quattro, Jul 7, 2012.

  1. Quattro

    Quattro Banned BANNED Club Member

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  2. Buffnik

    Buffnik Real name isn't Nik Club Member Junta Member

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    I couldn't read far enough to know what the issues are.

    Is it about the bottom falling out with the value of the stock in Pickens' company?

    You make it sound like the problem is that OSU didn't get the expected bang for its buck from the upgrades it has done.
     
  3. 4DemBuffs

    4DemBuffs Most admired poster Club Member

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    furk! knew i should have picked up the WSJ this morning at the hotel....
     
  4. Quattro

    Quattro Banned BANNED Club Member

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    Castlerock over on Rivals summed it up perfectly.
     
  5. newkid

    newkid Member

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    Their fundraising plans didn't go as planned, but they are far from broke. Don't trust the WSJ to report accurate college sports news.
     
  6. Buffnik

    Buffnik Real name isn't Nik Club Member Junta Member

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    Didn't they say that Cal only has like 10% of the donor commitments it anticipated for the stadium financing?
     
  7. btbuff

    btbuff It's an inside joke Club Member

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    Pickens is an epic idiot. Made a couple very successful bets that made him billions and nothing has worked out since. As he said in the article "I lost my ass in the wind business." Really he lost his ass on a bunch of different bets he just has a big ass. Willing to take incredible risks.
     
  8. newkid

    newkid Member

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    The two biggest problems with that story were:

    They made it seem like Cal had been expecting to pay off the entire project by the time the article had been published, which was completely off base. Paying off such a massive capital project was always going to be a long term process.

    When questioned, the writer admitted that her two sources were a professor at Cal who is completely anti athletics, and the loudest voice during the tree sitter debacle. As well as a disgruntled local resident who was against the construction of the stadium years ago. She then published a correction to the article.

    If you talk to Duck fans, she was doing the same kind of stuff when they were building their facilities as a reporter in Oregon.
     
    Last edited: Jul 7, 2012
  9. sackman

    sackman Club Member Club Member

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    If anything, these kinds of articles *should* make us re-examine our own facilities upgrades and make sure we have the funding in place to pay for them in advance. I don't want to be in a position where we're too far in debt to make a quick coaching change or minor facilities upgrade in the future.
     
  10. OMFGasm

    OMFGasm Banned BANNED

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  11. buff4bcs1985

    buff4bcs1985 Hail to the King

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    no what he is saying is it would be a money pit.
    say Gasm if this whole stadium project goes tit's up... over under how many times we will see you after... id put it at 1 and take the under
     
  12. OMFGasm

    OMFGasm Banned BANNED

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    Ya a money pit that will bring in millions more than Hughes and cost less to maintain. Makes sense
     
  13. dio

    dio Admin Club Member Junta Member

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    What if it doesn't earn money? Okie State was banking on future revenues that didn't materialize... what if the same happens to you?
     
  14. OMFGasm

    OMFGasm Banned BANNED

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    Naming rights-guaranteed money for years. Premium seating-I can't remember the exact number of years but its a contract for at least 5 years-another guarantee.

    What "future revenue" streams are we going to be losing out on?
     
  15. dio

    dio Admin Club Member Junta Member

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    From another thread

    http://blutarsky.wordpress.com/2012/07/02/more-money-than-sense/

     
  16. tante

    tante Club Member Club Member

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    How did those guaranteed naming right work out for invesco? Companies don't last forever. You are assuming that you can sell season tickets ( which you can't do very well now) luxury tickets ( when you are having trouble selling season tickets) and if you do sell those luxury tickets the owner has the ability to pay the entire contract length.
     
  17. OMFGasm

    OMFGasm Banned BANNED

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    Looks like Invesco got a new sponsor for naming rights now though didn't they?

    And no, you are assuming we won't sell them.
     
  18. Junction

    Junction Moderator Club Member

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    I love the idea that fans who can't be bothered to come to a game if it starts at 5:00 are going to shell out additional cash for "premium" seats.... :lol:
     
  19. Quattro

    Quattro Banned BANNED Club Member

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  20. Denver_sc

    Denver_sc Club Member Club Member

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    As usual, you only reply to the weakest point made.

    Aren't you even a little concerned about the examples of Maryland , Cal, and Okie State?
     
  21. GregInArlington

    GregInArlington Well-Known Member

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    But Kevin Costner taught us all, if you build it, they WILL come.
     
  22. OMFGasm

    OMFGasm Banned BANNED

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    1)Those aren't brand new stadiums
    2)Our stadium has guaranteed revenue sources (naming rights, premium seating not available at Hughes, multi-use $'s)

    I'm not entirely sure about Cal's situation but I believe the reason no one wants to donate to their stadium is 1) Not brand new and 2)It sits on a dangerous fault line and could fall into oblivion any time.

    These scenarios are similar, but not the same. You're comparing apples to oranges
     
  23. Quattro

    Quattro Banned BANNED Club Member

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    Lawl
     
  24. 4DemBuffs

    4DemBuffs Most admired poster Club Member

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    impressive.
     
  25. Darth Snow

    Darth Snow Hawaiian Buffalo Club Member Junta Member

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    guaranteed doesn't mean what OMFG thinks it means.
     
  26. Liver

    Liver modded mod Club Member Junta Member

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    multi-use revenue?

    bwahahahaha.

    yeah, because people are lining up to fill a ****ing masoleum in fort flatlands to watch a goat ****ing contest.

    multi-use?

    seriously?

    i'm sure the venue will be packed for tractor pulls and such.

    bwahahahahaha.

    and this is why we haven't banned poor gasm yet. pure ****ing comedy gold.
     
  27. GregInArlington

    GregInArlington Well-Known Member

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    I had a poorgasm yesterday behind a fat woman in wal mart.
     
  28. liverflukes

    liverflukes Resident Bear Club Member

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    Perhaps this will increase your awareness:

    1) We have secured many short and mid-term donations for a debt financed project such as this upgrade. More revenue is slated to come from other sources to avoid hitting general funds down the road, however, as mentioned before, it was never envisioned that we would have all the capital up front. We have plenty of rich and successful alumni...we'll be fine. Because Memorial Stadium is an historic landmark, there were multiple goals here. One was renovation/retrofit. The other was an entirely new addition (years in the making) known as SAHPC. SAHPC was added to the entire western side and is structurally separate from the stadium-the seismic retrofit of the stadium is a different phase of the project to improve the stadium and associated athletic facilities. Does this look new enough?

    [​IMG]
    [​IMG]
    [​IMG]
    [​IMG]
    [​IMG]


    2) According to your logic, since the whole state sits on fault lines, most of our universities could fall into oblivion at any time and no one should donate to their alma mater? Hmm...interesting take there.

    [​IMG]
     
    Last edited: Jul 8, 2012
  29. 4DemBuffs

    4DemBuffs Most admired poster Club Member

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    what did the feasibility study say about it? see, if you dont have one of those, everything else is fake.
     
  30. liverflukes

    liverflukes Resident Bear Club Member

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    The study said it was unpossible.

    [​IMG]

    [​IMG]
     
    Last edited: Jul 8, 2012
    FChairbanks likes this.

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