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  1. #1

    Default Gophers have raised $133MM of the $166MM needed for the Athletes Village

    In a recent interview with Mark Colye, Coyle told Doogie that the U remains around $133MM raised for the Athletes Village. If my memory is correct, this is about the same amount we had raised six months or so ago. I have to think it is very difficult to raise funds for a facility that is already built. It will be interesting if Coyle/U can raise the $166MM funds they initially set out to.

    https://www.podcastone.com/the-scoop

    Go Gophers!!


  2. #2

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    I don't think fundraising is necessarily a steady climb, it comes and goes.

  3. #3

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    Where is the Go Fund Me page?

  4. #4

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    Quote Originally Posted by RatherBeGolfing View Post
    Where is the Go Fund Me page?
    I'll start one, small administrative fee...

  5. #5

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    We were at $100M 2-years ago.


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  6. #6

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    Sell bonds. Or take out a loan. Companies do that all the time to get buildings built. Zero chance the U wouldn’t pay it back over time, so not seeing the problem here.

  7. #7
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    What were the numbers on the various naming rights deals for the new facilities? Is there a comprehensive list of sponsors and donors?

  8. #8

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    Quote Originally Posted by Spoofin View Post
    We were at $100M 2-years ago.


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    $105M as of Jan 2018, according to Coyle on Gophersports.com.

    https://gophersports.com/news/2018/1...s_Village.aspx

  9. #9

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    Quote Originally Posted by PMWinSTP View Post
    $105M as of Jan 2018, according to Coyle on Gophersports.com.

    https://gophersports.com/news/2018/1...s_Village.aspx
    $100M in April, 2017

    http://www.startribune.com/gophers-a...ger/420684233/

    Seems the pace has improved?


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  10. #10
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    Quote Originally Posted by Gophers_4life View Post
    Sell bonds. Or take out a loan. Companies do that all the time to get buildings built. Zero chance the U wouldn’t pay it back over time, so not seeing the problem here.
    I assumed they had to take out a loan already.

  11. #11

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    Quote Originally Posted by Gophers_4life View Post
    Sell bonds. Or take out a loan. Companies do that all the time to get buildings built. Zero chance the U wouldn’t pay it back over time, so not seeing the problem here.
    A reminder of how the U used short term and long term financing for the project.

    https://www.mndaily.com/article/2017...hletes-village
    To finance high-dollar projects like Athletes Village, the University takes on a combination of short-term and long-term debt, Burnett said.

    Individuals or companies can issue the University short-term loans for 30 to 180 days that the school pays back with less than 1 percent interest.

    Burnett said short-term loans are safe for investors and cheaper for the University to refinance.

    “The idea is to pay as little interest as possible,” Burnett said. “Interest is just money out the door.”

    The University also takes on longer-term debt that it will pay off over the next 25 years. Burnett said the school brings funding requests to banks and negotiates with the banks to get the lowest interest rates possible.

    “We tried to issue as little long-term debt as possible because it’s a little more expensive,” Burnett said.

    Burnett said the school’s credit is rated highly, and as a result, the school can borrow money at low interest rates which are already at historic lows.

    Companies like Land O’ Lakes, 3M and TCF Bank — among others — invest in these long-term bonds because they often recruit students from the University, Burnett said.

    ...

    The Athletics Department will spend roughly $3.6 million a year paying back the loans, using money from ticket sales, television and further donations, Burnett said.

  12. #12

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    Quote Originally Posted by Spoofin View Post
    $100M in April, 2017

    http://www.startribune.com/gophers-a...ger/420684233/

    Seems the pace has improved?


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    This is becoming that thread GH had on how this is being calculated and communicated...and that the numbers seem to be a bit fuzzy and shift around. Here's an article from July 2017 that states $92M raised since 2013 towards the Village. Hmm...

    I knew the 3M sponsor money was part of the calculation somehow.

    https://www.twincities.com/2017/07/1...nsorship-deal/

  13. #13

    Default Gophers have raised $133MM of the $166MM needed for the Athletes Village

    Quote Originally Posted by PMWinSTP View Post
    This is becoming that thread GH had on how this is being calculated and communicated...and that the numbers seem to be a bit fuzzy and shift around. Here's an article from July 2017 that states $92M raised since 2013 towards the Village. Hmm...

    I knew the 3M sponsor money was part of the calculation somehow.

    https://www.twincities.com/2017/07/1...nsorship-deal/
    Considering who is communicating the status in these articles, I am not surprised the numbers seem fuzzy and shift around.
    He not talk so clear.

    Iím sure someone will tell me now that MC was put on the spot and we canít expect him to remember the exact number on this.

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  14. #14

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    The U could just write a check and get rid of this debt tomorrow, but there's no reason for them to do that. They just need to keep plugging along.

  15. #15
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    Quote Originally Posted by Spoofin View Post
    Considering who is communicating the status in these articles, I am not surprised the numbers seem fuzzy and shift around.
    He not talk so clear.

    I’m sure someone will tell me now that MC was put on the spot and we can’t expect him to remember the exact number on this.

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    I have also had the impression that the numbers seem very fluid. for a long time, whenever there was a story about fund-raising, the numbers seemed to go up and down. someone posted that there was a website that kept a running tally. Is that still around?

    Bottom line, it's going to be paid off one way or another. A big year by the football program would certainly help (I hope). I know Sid always used to run items about how much money Bucky raised in donations after going to the Rose Bowl.

    But just once, it would be nice to see a story about "Gophers reach fund-raising goal," instead of another story about how they're short of the latest goal.

    Didn't the same think happen with fund-raising for TCF? I seem to remember there was a public component to the fund-raising that had not reached its goal - at least the last time I remember reading anything about it.

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