STrib: Teague says U plans to break ground on athletics village in mid-August

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BleedGopher

BleedGopher

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per the STrib:

Gophers Athletics Director Norwood Teague said Tuesday that the university plans to break ground on its $150 million athletics village in mid-August.

The Gophers have raised more than $70 million toward the project, and Teague said, "We’ve got some pretty significant gifts that we’re getting down to the wire on which are really encouraging."

"We’ll finance a little bit of [the $150 million total]," Teague said during a break from the Big Ten administrative meetings. "We were planning to do that all along to use some future revenues because you can bond at a great rate right now. And we just need to get to where, middle of the summer we’re at about 80 percent of [$150 million], which I’m confident we’ll get there."

http://www.startribune.com/teague-s...on-athletics-village-in-mid-august/304296641/

Go Gophers!!
 



Love it. Can't wait to see shovels in the ground. It will instantly turn into a recruiting tool.
 

MadtownGopher said:
Love it. Can't wait to see shovels in the ground. It will instantly turn into a recruiting tool.
Click to expand...

I've seen a lot of FB recruits already mention how awesome the renderings of the new facility that have been shown to them are.
 


BleedGopher said:
per the STrib:

Gophers Athletics Director Norwood Teague said Tuesday that the university plans to break ground on its $150 million athletics village in mid-August.

The Gophers have raised more than $70 million toward the project, and Teague said, "We’ve got some pretty significant gifts that we’re getting down to the wire on which are really encouraging."

"We’ll finance a little bit of [the $150 million total]," Teague said during a break from the Big Ten administrative meetings. "We were planning to do that all along to use some future revenues because you can bond at a great rate right now. And we just need to get to where, middle of the summer we’re at about 80 percent of [$150 million], which I’m confident we’ll get there."

http://www.startribune.com/teague-s...on-athletics-village-in-mid-august/304296641/

Go Gophers!!
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Exactly what I said. GW will be infuriated, calling them liars, but this has been their plan all along.
 

Gold Vision said:
Exactly what I said. GW will be infuriated, calling them liars, but this has been their plan all along.
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"Funded entirely by private donations to the athletic department" .... Doesn't get more clear than that. If that's been the an all along, they have lied and misled to potential donors and the public. Doesn't infuriate me - changing course & the rules has always been expected. Would be happy if it's now vs. 5 years from now. Better for him to admit defeat now if*** it means things get done.

But, don't care for his "we always planned to use future revenues." Might need a clarification. From NT on that one.
 


Gopher Warrior said:
"Funded entirely by private donations to the athletic department" .... Doesn't get more clear than that. If that's been the an all along, they have lied and misled to potential donors and the public. Doesn't infuriate me - changing course & the rules has always been expected. Would be happy if it's now vs. 5 years from now. Better for him to admit defeat now if*** it means things get done.

But, don't care for his "we always planned to use future revenues." Might need a clarification. From NT on that one.
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It's no surprise to the enlightened. When asked directly, Teague has insisted they were looking at all funding options.
 



MadtownGopher said:
"admit defeat" - LOLOLOLOLOLOLOLOL
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We'll remember the ground-breaking forever in the annals of Gopher history....the day we admitted defeat. Oh, and built an athletics village.

We have a couple of months to come to terms with this dark day....
 


Maximus said:
We'll remember the ground-breaking forever in the annals of Gopher history....the day we admitted defeat. Oh, and built an athletics village.

We have a couple of months to come to terms with this dark day....
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Athletic facilities come and go. But the lies and defeat of Norwood Teague will be documented and preserved forever on latenighthooperscoopers.com for all 4 of its readers to re-read and cackle at as they track Trevor Mbakwe across the globe.
 

Gopher Warrior is an expert in media strategy and fundraising. He knows how to play chess to get things done.

Please Gopher Warrior TELLS US ABOUT ALL THE IMPORTANT RULES!!!!!!
 



I nominate Gopher Warrior to be permanently banned from Gopherhole.

Do I have a second?
 





Gopher Warrior said:
"Funded entirely by private donations to the athletic department" .... Doesn't get more clear than that. If that's been the an all along, they have lied and misled to potential donors and the public. Doesn't infuriate me - changing course & the rules has always been expected. Would be happy if it's now vs. 5 years from now. Better for him to admit defeat now if*** it means things get done.

But, don't care for his "we always planned to use future revenues." Might need a clarification. From NT on that one.
Click to expand...

:blah:

Maybe instead of buying me the burrito that you will inevitably owe me, you can just donate $10 to the campaign. You know, to help your buddy Norwood better follow The Rules©
 

Gopher Warrior said:
"Funded entirely by private donations to the athletic department" .... Doesn't get more clear than that. If that's been the an all along, they have lied and misled to potential donors and the public. Doesn't infuriate me - changing course & the rules has always been expected. Would be happy if it's now vs. 5 years from now. Better for him to admit defeat now if*** it means things get done.

But, don't care for his "we always planned to use future revenues." Might need a clarification. From NT on that one.
Click to expand...

Let it go GW, there are SO many more important issues to bleat about. Although I do understand we all have our "thing" that rankles our keester.
 

Seeing the forest for the trees

Kinda lost here is the excitement of Norwood saying we are breaking ground mid August. Jerry has been saying that for at least a year. It' awesome this is on schedule to happen.
 

Imagine this: Iowa or Wisconsin announces a fund drive to improve athletic facilities. They announce that the entire project will be funded by private donations. Later, they announce that they will be borrowing money to help get the project started, and the AD says that was always part of the plan.

I submit that - if Iowa or Wisconsin did this - there would be people on this board mocking them and calling them out for not doing what they said they were going to do, and calling out the AD for the apparent flip-flop and the apparent failure to meet the goal of all private fund-raising.

But, if the Gophers do it, then it's OK because we're so hungry to see the new facilities that we don't care how it happens.

AGAIN - I'm glad the Gophers are getting new facilities. And, I'm not a big fan of GW either - but I do agree with him on this point.
 

short ornery norwegian said:
I submit that - if Iowa or Wisconsin did this - there would be people on this board mocking them and calling them out for not doing what they said they were going to do, and calling out the AD for the apparent flip-flop and the apparent failure to meet the goal of all private fund-raising.
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No chance, it would be a non-issue.

Borrowing money to pay it back with and when you get the private funds raised is flip-flopping? Seems more like a no-brainier to get the project moving.
 

short ornery norwegian said:
I submit that - if Iowa or Wisconsin did this - there would be people on this board mocking them and calling them out for not doing what they said they were going to do, and calling out the AD for the apparent flip-flop and the apparent failure to meet the goal of all private fund-raising.
Click to expand...

GW would be the only one. No one else would give a sh!t.
 

short ornery norwegian said:
I submit that - if Iowa or Wisconsin did this - there would be people on this board mocking them
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WHAT?!?!?!?! Next you'll say there would be people on this board mocking Wisconsin or Iowa if they had a player arrested or lost a game or lost a recruit. Never!

short ornery norwegian said:
....calling them out for not doing what they said they were going to do, and calling out the AD for the apparent flip-flop and the apparent failure to meet the goal of all private fund-raising.
Click to expand...

In that scenario, wouldn't we be upset/jealous that Wisconsin/Iowa did whatever it took to get the shovels in the ground for much needed facilities within the timetable that has been discussed since winter? Nah, that's silly. We'd call them out.
 

In this case I think we need to be careful and wait to hear what is really said and presented at the meeting. Teague's word-choice could be bad in the above quotes, or the writer may have not used appropriate context.

If you read what Bleed quoted, it's actually difficult to understand exactly what the hell he is saying. The "future revenues" is key.

However, maybe what will really be talked about is something along these lines, which is a different story:
The athletic department will borrow funds. The full intent is to pay these back and make the the U and athletic department whole (excl the project) with private donations. We expect those donations to continue to come in over the next several years. We don't have the donations now and sure the CFO seemed to say we need 80% of project committed to with donations, but we're going to get started with construction now and eventually make everyone whole through private donations in the future.

Believable? Maybe. But, something along these lines would be very different than 'hey we make a lot of money through media contracts. we'll use some of that money to fund this thing.' (Which is fine to do and recommended by LNH on day 1, however it would be an incredible flip flop.)
 

Gopher Warrior said:
In this case I think we need to be careful and wait to hear what is really said and presented at the meeting. Teague's word-choice could be bad in the above quotes, or the writer may have not used appropriate context.

If you read what Bleed quoted, it's actually difficult to understand exactly what the hell he is saying. The "future revenues" is key.

However, maybe what will really be talked about is something along these lines, which is a different story:
The athletic department will borrow funds. The full intent is to pay these back and make the the U and athletic department whole (excl the project) with private donations. We expect those donations to continue to come in over the next several years. We don't have the donations now and sure the CFO seemed to say we need 80% of project committed to with donations, but we're going to get started with construction now and eventually make everyone whole through private donations in the future.

Believable? Maybe. But, something along these lines would be very different than 'hey we make a lot of money through media contracts. we'll use some of that money to fund this thing.' (Which is fine to do and recommended by LNH on day 1, however it would be an incredible flip flop.)
Click to expand...

Tomorrow could you tell us how sausage is made? Thanks.
 

Gopher Warrior said:
Believable? Maybe. But, something along these lines would be very different than 'hey we make a lot of money through media contracts. we'll use some of that money to fund this thing.' (Which is fine to do and recommended by LNH on day 1, however it would be an incredible flip flop.)
Click to expand...

I guess I don't understand why you care so much, even if it is a "flip-flop?" Who cares? Funding a 9 figure deal is tough. A guy might need to be a little less rigid than you expect. This isn't the Wilfs operating here, blatantly ripping off the citizens of the state.
 

Gopher Warrior said:
Believable? Maybe. But, something along these lines would be very different than 'hey we make a lot of money through media contracts. we'll use some of that money to fund this thing.' (Which is fine to do and recommended by LNH on day 1, however it would be an incredible flip flop.)
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That's it! A big smoke screen so he can do it the way LNH recommended and flip flop when it's all said and done.

Delusional.
 

GopherJake said:
I guess I don't understand why you care so much, even if it is a "flip-flop?" Who cares? Funding a 9 figure deal is tough. A guy might need to be a little less rigid than you expect. This isn't the Wilfs operating here, blatantly ripping off the citizens of the state.
Click to expand...

Time has been wasted; taxpayer; donor; deception; etc.

But.. let's get the facts. Maybe the update and changes will be intelligent and grand.
 

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