Sid: Strong indications that Regents will approve $40MM in borrowing for facilities

[BleedGopher]

per Sid:

• The University of Minnesota Board of Regents will vote on the Gophers athletic department’s facilities funding plan in June, and indications are strong that athletic director Norwood Teague’s plan of borrowing $20 million from outside the university and $20 million from the athletic department against future earnings will get the board’s approval so that construction could begin in the fall.

http://www.startribune.com/hartman-vikings-rely-on-ucla-for-top-linebackers/303191241/

Go Gophers!!

 

[scher215]

Come on Sid, please don't be wrong here. I am thrilled Teague decided to go this route, disappointed they didn't do it right away. But better late than never.

 

[WindyCityGopher]

I don't care to see how the sausage is made behind the scenes, I just want this thing to get built, no matter how it happens.

 

[mnsportsgeek]

I don't care to see how the sausage is made behind the scenes, I just want this thing to get built, no matter how it happens.

Same.

 

[station19]

But, but, but, but......we're breaking THE RULES.

 

[Golden_Sloth]

But, but, but, but......we're breaking THE RULES.

GW should probably find a way to inform NT and the board of THE RULES asap, there's a pretty significant risk of these facilities actually getting built!

Can't wait for my burrito.

 

[Bad Gopher]

Not sure how other schools do this, but in the real world it's practically impossible to execute a capital improvement of this scale without some borrowing. It's why the state bonds for major, one-time projects.

 

[GopherinFlorida]

Come on Sid, please don't be wrong here. I am thrilled Teague decided to go this route, disappointed they didn't do it right away. But better late than never.

Who said this wasn't Teague's plan from day one? I have been saying since they lowered the initial raise from $190 to $150 that this project would be done with debt. It makes a lot of sense and gets shovels into the ground faster. It wasn't a secret nor was it not planned. But since Teague didn't call GW and fill him in personally, it has somehow become a conspiracy or a fool's folly...depending on which day of the week it is and which poster is spewing idiocy.

 

[Holy Man]

Who said this wasn't Teague's plan from day one? I have been saying since they lowered the initial raise from $190 to $150 that this project would be done with debt. It makes a lot of sense and gets shovels into the ground faster. It wasn't a secret nor was it not planned. But since Teague didn't call GW and fill him in personally, it has somehow become a conspiracy or a fool's folly...depending on which day of the week it is and which poster is spewing idiocy.

And now is still a good time to borrow. Hopefully, they can get excellent fixed rates for at least five years.

 

[Ski U Mah Gopher]

But, but, but, but......we're breaking THE RULES.

Couldn't put it better, 19.

The rules are what the Board of Regents say they are.

 

[beavergopher]

Not sure how other schools do this, but in the real world it's practically impossible to execute a capital improvement of this scale without some borrowing. It's why the state bonds for major, one-time projects.

Let he who has paid cash for a house cast the first stone. Nothing gets built without borrowed money.

 

[Unregistered User]

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[BleedGopher]

<script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>

Go Gophers!!

 

[BleedGopher]

per KSTP:

The money breakdown will be $12 million for football and basketball facilities and programming, $2 million for the Carlson School of Management, $2 million for the College of Education and Human Development, and $1 million for pediatric cardiology research.

http://kstp.com/sports/stories/S3809936.shtml?cat=7

Go Gophers!!

 

[HOOP DREAMS]

I am thrilled Teague decided to go this route, disappointed they didn't do it right away.

Not sure why it would make a difference, need to get the money from donors either way, makes sense to do it near the finish line.

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Go Gophers!!

Go Norwood!

 

[bga1]

Come on Sid, please don't be wrong here. I am thrilled Teague decided to go this route, disappointed they didn't do it right away. But better late than never.

If you tell donors you can borrow the money - it is harder to create urgency to donate. Had to wait.

 

[MadtownGopher]

**** yeah!

 

[short ornery norwegian]

FWIW - Joe Christensen in his article in the Strib said that the athletics dep't has known about this donation for some time - and was already counting it as part of the $70 million fundraising total. Doogie said this is "new" money, and isn't part of the $70 mill. They can't both be right.

 

[HOOP DREAMS]

FWIW - Joe Christensen in his article in the Strib said that the athletics dep't has known about this donation for some time - and was already counting it as part of the $70 million fundraising total. Doogie said this is "new" money, and isn't part of the $70 mill. They can't both be right.

They have been consistent on giving status of done deal fundraising numbers opposed to potential or highly likley donations.

Do you read or better yet, write for LNH? Oh wait that is a one clown show.

 

[Gopher Warrior]

They have been consistent on giving status of done deal fundraising numbers opposed to potential or highly likley donations.

lol. You're making things up.

The U has been clear that this $12MM has been included in the "~$70MM" figure that has been talked about for months.

 

[HOOP DREAMS]

lol. You're making things up

Always appeared unlikely to work out with Diedhiou (both respect to initially joining the program and...

lol. That's good coming from you.

Mr. So-called Fact's who makes up more shiz than anyone.

Yeah...the last interview from Norwood laid it out pretty well. $70 million raised so far, another $10-20 in the pipeline for donations and borrow $40 in June

That's what I heard... Norwood is doing exactly what the UofM hired him to do.

 

[TruthSeeker]

lol. You're making things up.

The U has been clear that this $12MM has been included in the "~$70MM" figure that has been talked about for months.

Have you decided on your next batch of high schools kids that you plan to use as your avatar?

You're one sick puppy.

 

[station19]

Have you decided on your next batch of high schools kids that you plan to use as your avatar?

You're one sick puppy.

lol