Sid Hartman: U athletic department should have more access to financing

BleedGopher

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per Sid:

Yes, the University of Minnesota is taking bids for an ambitious project that is expected to include football facilities, new basketball facilities for men and women, and an academic building among other projects, but at this point the school has $65 million to build $150 million worth of buildings.

The Gophers athletic department should have access to other sources of revenue to help build facilities.

First of all, the Legislature, until it contributed $156 million for the building of TCF Bank Stadium, had passed up the main campus for money for sports facilities. But at the same time, legislators approved funding for their favorite projects such as arenas and stadiums all over the state.

Second, none of the parking revenue paid by fans attending Gophers varsity sporting events goes to the athletic department.

And third, every ticket for a Gophers event includes a tax, and that revenue could go to the athletic department but does not. Many years ago, former athletic director McKinley Boston tried unsuccessfully to get those taxes reverted to the athletic department.

These three areas add up to millions of dollars that could be diverted to the athletic department for a short period of time while these facilities need to be built. After that, those revenues could go back to their original targets.

http://www.startribune.com/sports/gophers/289386411.html

Go Gophers!!
 




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