Shooter: $30M in corporate donations to athletics facilities to be announced this wee

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I would imagine that after the announcement upcoming the rest of the $160 MM would be worked on.
 



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Go Gophers!!
 



I know that some people think the Gophs should start building "right now." There's only one drawback to that approach - if they start construction, and at some point down the road, realize they are not going to hit the $190 mark, then they have to start revising plans on the fly after part of the project is done. that is not cost-effective. I would guess/suspect that the powers that be have a $ figure in mind, and will not start construction until they have that much money in the bank.
 

short ornery norwegian said:
I know that some people think the Gophs should start building "right now." There's only one drawback to that approach - if they start construction, and at some point down the road, realize they are not going to hit the $190 mark, then they have to start revising plans on the fly after part of the project is done. that is not cost-effective. I would guess/suspect that the powers that be have a $ figure in mind, and will not start construction until they have that much money in the bank.
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Aren't they building multiple buildings? Just cuz you start one doesn't mean you are committing to the other 3 (or however many).
 

From what I've read, (and I may be wrong- words rarely written on this site), it looks like they have a master plan where all the pieces fit together - hoops facility, football facility, training and nutrition, educational counseling, and all the parts fit together into a well-designed project. So, the question is, if they start construction, and for some reason decide they will not have enough money to complete the whole plan, what do they cut out? I see it like a jigsaw puzzle - if you leave out a piece, you leave a hole in the middle.

So, (again, this is speculation on my part), I would think that they would want to be pretty damn sure they can raise the whole amount before they start building. Otherwise, they would have to revise the whole plan to make all the pieces fit (i.e - make this part smaller, cut something out of this section, etc.) And in my experience, when you start trying to revise plans in mid-construction, it's going to wind up costing you more in architect's fees and you will wind up with a lesser product. that's what I'm suggesting. I could be wrong. I could be psychotic. I could be off my meds.
 




Just saw a tweet saying that the donation will come between now and 2024. So that answers my question about installments.

We're still a long ways from breaking ground.
 

afurry91 said:
Just saw a tweet saying that the donation will come between now and 2024. So that answers my question about installments.

We're still a long ways from breaking ground.
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Not necessarily. I believe this is how must of the donations will be. Even for us that can only donate a smaller amount. I believe most of these projects are built with bonds, so they would be paid back with the installment payments from the donors. I could be very wrong, but pretty sure this is how it would work.
 

DLguy said:
Not necessarily. I believe this is how must of the donations will be. Even for us that can only donate a smaller amount. I believe most of these projects are built with bonds, so they would be paid back with the installment payments from the donors. I could be very wrong, but pretty sure this is how it would work.
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Yes, many projects in higher ed, public and private, are done this way.
 

Marcus tweeted that Athlete's Village is slated to open in the Fall of 2016 supposedly.
 



Is T Denny Sanford going to be the next donor? General Mills? 3M?
 

DLguy said:
Not necessarily. I believe this is how must of the donations will be. Even for us that can only donate a smaller amount. I believe most of these projects are built with bonds, so they would be paid back with the installment payments from the donors. I could be very wrong, but pretty sure this is how it would work.
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This is how I understand it as well.
 

maroonfive said:
Is T Denny Sanford going to be the next donor? General Mills? 3M?
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Medtronic? Ecolab? Cargill? Hormel? CHS? Target? Best Buy? ok.....sorry got carried away
 




$25M is the number; some coming from Land O'Lakes, some coming from LOL Foundation... to be paid over 10 years... $15M appears to be going toward "the $190M".. in return LOL will receive naming rights to the center for excellence in the Athletic Village.

The U and LOL both are saying they expect it to be ready in fall of 2016. (It = the center of excellence.. 60k sq ft... the center for excellence is for all students, not just student-athletes)

Plan has been do this piece first, then several other pieces next (including bball and football facilities).. ideally they'd get up to around $60M or more and have those being built at the same time or just on the heels... gotta push to get it done.. and get people off the $190M.
 

Gopher Warrior said:
$25M is the number; some coming from Land O'Lakes, some coming from LOL Foundation... to be paid over 10 years... $15M appears to be going toward "the $190M".. in return LOL will receive naming rights to the center for excellence in the Athletic Village.

The U and LOL both are saying they expect it to be ready in fall of 2016. (It = the center of excellence.. 60k sq ft... the center for excellence is for all students, not just student-athletes)

Plan has been do this piece first, then several other pieces next (including bball and football facilities).. ideally they'd get up to around $60M or more and have those being built at the same time or just on the heels... gotta push to get it done.. and get people off the $190M.
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Wouldn't all 25 be toward the 190? Or is 10 going to non-athletics?
 

Only one person I know that's preoccupied/ caught up on/ obsessed with, that 190M donation number.

Sounds like we're breaking ground right on schedule. Great day for Gopher Athletics and kudos to Teague and Nanne. The silent phase of the fundraising process seems to be right on schedule.
 

Marquette Warrior once again acting like he knows more than everyone else in the room. Sorry, just can't buy much of anything you write anymore. I will wait to get my info directly from the horse's mouth. Thanks.
 

MaxyJR1 said:
Wouldn't all 25 be toward the 190? Or is 10 going to non-athletics?
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Don't read his summary as anything other than his own personal speculation and parsing of facts written solely to follow the narrative he has been preaching around here. He DOESN'T have any insider information on anything people. NOTHING! Just wait to get the full info tomorrow. :rolleyes:
 

Gold Vision said:
Only one person I know that's preoccupied/ caught up on/ obsessed with, that 190M donation number.

Sounds like we're breaking ground right on schedule. Great day for Gopher Athletics and kudos to Teague and Nanne. The silent phase of the fundraising process seems to be right on schedule.
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+1! Big day for the U and the facilities fundraising. You can't raise $190MM or whatever number we end up with until you get the first $15-25MM or whatever the exact amount is. We're in much better shape today than we were yesterday.

Time for me to buy some non-generic milk for once!

Go Land O'Lakes!!
 

supadupafly said:
Don't read his summary as anything other than his own personal speculation and parsing of facts written solely to follow the narrative he has been preaching around here. He DOESN'T have any insider information on anything people. NOTHING! Just wait to get the full info tomorrow. :rolleyes:
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+1 I don't know where he's getting his numbers (other than his @$$) but the report from the Strib is that $21M of the donation is going towards athletics with an additional $4M going to academics. Additionally, the feeling is (per Doogie so consider the source) that the feeling is that there is some leeway in the deal and over time it could push towards the $30M number.

Once again GW is pushing his asinine agenda. I can't believe this site used to let him contribute.
 

It's $15M for the center of excellence (for building it and in exchange for naming rights).

The other $10M is for a number of things.. including various programs ranging from faculty research to academic student scholarships to event sponsorship... and the funding will go far past athletics.. (e.g., College of Science & Engineering, Carlson biz, College of Food, Agra/Natural Resource Sciences, etc).

The center for excellence will serve all students, not just student-athletes... however, this was part of the "$190M plan"...

So, $15M toward the $190M capital projects.. the other $10 toward programs and various other funding.. some of which will go to athletics (but outside of capital projects / "the $190M plan").
 

Gopher Warrior said:
It's $15M for the center of excellence (for building it and in exchange for naming rights).

The other $10M is for a number of things.. including various programs ranging from faculty research to academic student scholarships to event sponsorship... and the funding will go far past athletics.. (e.g., College of Science & Engineering, Carlson biz, College of Food, Agra/Natural Resource Sciences, etc).

The center for excellence will serve all students, not just student-athletes... however, this was part of the "$190M plan"...

So, $15M toward the $190M capital projects.. the other $10 toward programs and various other funding.. some of which will go to athletics (but outside of capital projects / "the $190M plan").
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Gopher Warrior said:
Even better: Why not admit defeat and make some real progress.
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Are they going to admit defeat tomorrow too?
 

Gopher Warrior said:
$25M is the number; some coming from Land O'Lakes, some coming from LOL Foundation... to be paid over 10 years... $15M appears to be going toward "the $190M".. in return LOL will receive naming rights to the center for excellence in the Athletic Village.

The U and LOL both are saying they expect it to be ready in fall of 2016. (It = the center of excellence.. 60k sq ft... the center for excellence is for all students, not just student-athletes)

Plan has been do this piece first, then several other pieces next (including bball and football facilities).. ideally they'd get up to around $60M or more and have those being built at the same time or just on the heels... gotta push to get it done.. and get people off the $190M.
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You expected a single 190 million dollar donation? Astonishing!
 


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