Shooter: A little birdie says U still owes $44 million for its $166 million Athletes Village.

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Cruze said:
You forgot to provide your links to the evidence the BOG isn't aware of the current status of the debt on Athlete's Village, and their unhappiness with Mark Coyle's fund raising abilities and the way he is managing the AV debt.
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Funny, I don’t remember saying any of those things or even mentioning what the BOG is or isn’t aware of even once???
 

Cruze said:
You forgot to provide your links to the evidence the BOG isn't aware of the current status of the debt on Athlete's Village, and their unhappiness with Mark Coyle's fund raising abilities and the way he is managing the AV debt.


Gophers AD Mark Coyle receives raise, extension as other schools come calling

University of Minnesota Athletics Director Mark Coyle received a raise and a two-year contract extension from the school’s Board of Regents on Friday. This agreement comes as other schools recently have looked into prying Coyle away from Minnesota, a source told the Pioneer Press.

This extension, which is effective this week and runs through June 2026, includes a $125,000 raise to $975,000 per year and 2.5 percent increases each July through the end of the deal, according to Coyle’s contract obtained by the Pioneer Press. Coyle also can receive incentives up to $225,000 each year and a longevity bonus of $150,000 in June 30, 2024.

Under Coyle, the Gophers have had top-to-bottom success, which prompted other schools to check into his availability. In the 2018-19 school year, Minnesota was the only program from a Power Five conference to have a winning record in each team sport.

“Gopher athletics has excelled under Director Coyle’s leadership, not only winning in competition but, more importantly, setting records in the classroom and investing countless hours in community service,” University President Joan Gabel said in a statement. “The visibility of those successes have positively reflected the ideals of the University, one of the most important contributions any athletics department can make.“What Director Coyle and his team have accomplished gives me great confidence that his department will continue to deliver exceptional results.”

Gophers football coach P.J. Fleck is Coyle’s highest-profile hire and also his biggest success story. Fleck’s team improved from 5-7 in his first season in 2017 to 11-2 in 2019, including two wins over top-10 teams, against Penn State during the regular season and Auburn in the Outback Bowl.

“The credit goes to the players, definitely goes to our team, those are the guys that have to go do it,” Fleck told the Pioneer Press. “I think what most people are forgetting is the job that Mark Coyle has done. Mark Coyle deserves what I’ve gotten (in a contract extension). It’s years and being able to say, ‘Job well done.’ ”

https://www.twincities.com/2020/02/14/gophers-ad-mark-coyle-receives-raise-extension-as-other-schools-sought-to-pry-him-away/
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Coyle has seen the football team do well under his tenure, but I don't see how it could be argued that fundraising has been a strength of his. If it was, the athletic village debt would be paid off by now.
 

Spoofin said:
Funny, I don’t remember saying any of those things or even mentioning what the BOG is or isn’t aware of even once???
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You are correct (for once). However, the main themes of your Mark Coyle posts since he fired Claeys and hired Fleck are YOUR unhappiness with his inadequacies as the U's Athletics Director (you belong to a very small club). As far as I know, you haven't deviated from your dislike of Coyle even one time.

You are much like me in that you don't like to admit when you are wrong. Unlike you, I occasionally have admitted when I am wrong. You should try it some time. Your family and friends (and maybe even a few GopherHolers) will appreciate it.


Gophers AD Mark Coyle receives raise, extension as other schools come calling

University of Minnesota Athletics Director Mark Coyle received a raise and a two-year contract extension from the school’s Board of Regents on Friday. This agreement comes as other schools recently have looked into prying Coyle away from Minnesota, a source told the Pioneer Press.

This extension, which is effective this week and runs through June 2026, includes a $125,000 raise to $975,000 per year and 2.5 percent increases each July through the end of the deal, according to Coyle’s contract obtained by the Pioneer Press. Coyle also can receive incentives up to $225,000 each year and a longevity bonus of $150,000 in June 30, 2024.

Under Coyle, the Gophers have had top-to-bottom success, which prompted other schools to check into his availability. In the 2018-19 school year, Minnesota was the only program from a Power Five conference to have a winning record in each team sport.

“Gopher athletics has excelled under Director Coyle’s leadership, not only winning in competition but, more importantly, setting records in the classroom and investing countless hours in community service,” University President Joan Gabel said in a statement. “The visibility of those successes have positively reflected the ideals of the University, one of the most important contributions any athletics department can make.“What Director Coyle and his team have accomplished gives me great confidence that his department will continue to deliver exceptional results.”

Gophers football coach P.J. Fleck is Coyle’s highest-profile hire and also his biggest success story. Fleck’s team improved from 5-7 in his first season in 2017 to 11-2 in 2019, including two wins over top-10 teams, against Penn State during the regular season and Auburn in the Outback Bowl.

“The credit goes to the players, definitely goes to our team, those are the guys that have to go do it,” Fleck told the Pioneer Press. “I think what most people are forgetting is the job that Mark Coyle has done. Mark Coyle deserves what I’ve gotten (in a contract extension). It’s years and being able to say, ‘Job well done.’ ”

https://www.twincities.com/2020/02/14/gophers-ad-mark-coyle-receives-raise-extension-as-other-schools-sought-to-pry-him-away/
 
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Cruze said:
You forgot to provide your links to the evidence the BOG isn't aware of the current status of the debt on Athlete's Village, and their unhappiness with Mark Coyle's fund raising abilities and the way he is managing the AV debt.


Gophers AD Mark Coyle receives raise, extension as other schools come calling

University of Minnesota Athletics Director Mark Coyle received a raise and a two-year contract extension from the school’s Board of Regents on Friday. This agreement comes as other schools recently have looked into prying Coyle away from Minnesota, a source told the Pioneer Press.

This extension, which is effective this week and runs through June 2026, includes a $125,000 raise to $975,000 per year and 2.5 percent increases each July through the end of the deal, according to Coyle’s contract obtained by the Pioneer Press. Coyle also can receive incentives up to $225,000 each year and a longevity bonus of $150,000 in June 30, 2024.

Under Coyle, the Gophers have had top-to-bottom success, which prompted other schools to check into his availability. In the 2018-19 school year, Minnesota was the only program from a Power Five conference to have a winning record in each team sport.

“Gopher athletics has excelled under Director Coyle’s leadership, not only winning in competition but, more importantly, setting records in the classroom and investing countless hours in community service,” University President Joan Gabel said in a statement. “The visibility of those successes have positively reflected the ideals of the University, one of the most important contributions any athletics department can make.“What Director Coyle and his team have accomplished gives me great confidence that his department will continue to deliver exceptional results.”

Gophers football coach P.J. Fleck is Coyle’s highest-profile hire and also his biggest success story. Fleck’s team improved from 5-7 in his first season in 2017 to 11-2 in 2019, including two wins over top-10 teams, against Penn State during the regular season and Auburn in the Outback Bowl.

“The credit goes to the players, definitely goes to our team, those are the guys that have to go do it,” Fleck told the Pioneer Press. “I think what most people are forgetting is the job that Mark Coyle has done. Mark Coyle deserves what I’ve gotten (in a contract extension). It’s years and being able to say, ‘Job well done.’ ”

https://www.twincities.com/2020/02/14/gophers-ad-mark-coyle-receives-raise-extension-as-other-schools-sought-to-pry-him-away/
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Coyle is either the best thing that has happened to Gopher football in the last 53 years or he is the second best thing that has happened in those 53 years, depending on how you handle chicken and egg arguements.
 

Cruze said:
You are correct (for once). However, the main themes of your Mark Coyle posts since he fired Claeys and hired Fleck are YOUR unhappiness with his inadequacies as the U's Athletics Director (you belong to a very small club). As far as I know, you haven't deviated from your dislike of Coyle even one time.

You are much like me in that you don't like to admit when you are wrong. Unlike you, I occasionally have admitted when I am wrong. You should try it some time. Your family and friends (and maybe even a few GopherHolers) will appreciate it.
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Been wrong plenty - but never said what you claimed I said so am happy to see you correct that statement.

I absolutely don't like Coyle. I haven't deviated from that and don't really care if I am part of a small club or not. Making a great hire for FB coach is only part of his job and his inadequacies in other areas are well documented, IMO. Not sure what I would admit I am wrong about?

As for being a poor fundraiser - a real quick search finds that our $ raised today for the AV (assuming this little bird is accurate) is right where it was in July, 2018. Zero Change. Nice job Mark!!!

 


Who negotiated a laughable 2 year warranty on US Bank Stadium materials and workmanship on what is essentially a roofing system? That’s absolutely terrible, in addition to the “hey lets encouragement gambling habits” funding.

One would think the interested and competent architects and engineers working with an extremely generous budget could design roofing and wall systems that can stand up to 45 mph winds and rain/frost/freeze/thaw cycles rather than fail within the first year? If there wasn’t adequate engineering or testing then one has to wonder: where is the money going? Marketing, Christmas parties?

Mortenson, MC McGrath, Custom Drywall still pointing fingers/in arbitration over this?


THE PROBLEM SPELLED OUT

The blame game that followed was revealed in thousands of pages of documents, reports and emails, the Fox 9 investigators obtained in a public records request with the Metropolitan Sports Facilities Authority (MSFA), the public agency in charge of the stadium.

The structural engineer for the project, Thornton Tomasett, warned in a July 7, 2016 letter to MSFA, “..we must question the integrity of the metal panel system as installed.”

Fingers pointed at Mortenson and two of its subcontractors, MG McGrath, which designed and installed the metal panels, and Custom Drywall, which was responsible for the design and construction of the structure underneath those panels. That included the framing, insulation, and water barrier.

Custom Drywall has yet to be paid $3.3 million for the work.

An attorney for the company, David Hammargren, blamed the water for the panels falling off. “Excessive water is getting through McGrath’s panels and saturating the insulation..” wrote Hammargren on September 30, 2016.

In the letter to MSFA and Mortenson, Hammargren points to the icicles that developed in December below the northwest elevation which caused water to drip on to the walkway below.

“This creates a risk of panels popping and ice falling. This is a life/safety issue that will not be fixed by McGrath’s proposed repair. In fact, the repair clearly is not even intended to fix this problem,” wrote Hammargren.

More here: https://www.fox9.com/news/blame-game-over-falling-panels-at-u-s-bank-stadium
 

Spoofin said:
Been wrong plenty - but never said what you claimed I said so am happy to see you correct that statement.

I absolutely don't like Coyle. I haven't deviated from that and don't really care if I am part of a small club or not. Making a great hire for FB coach is only part of his job and his inadequacies in other areas are well documented, IMO. Not sure what I would admit I am wrong about?

As for being a poor fundraiser - a real quick search finds that our $ raised today for the AV (assuming this little bird is accurate) is right where it was in July, 2018. Zero Change. Nice job Mark!!!

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What did Mark Coyle do to offend you? Asking for a friend
 

Word said:
Coyle has seen the football team do well under his tenure, but I don't see how it could be argued that fundraising has been a strength of his. If it was, the athletic village debt would be paid off by now.
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I don't know about his fundraising skills, but paid off or not seems like a tall order, or at least too much of an all or nothing deal as far as what it takes to qualify as a good fundraiser.
 

A_Slab_of_Bacon said:
I don't know about his fundraising skills, but paid off or not seems like a tall order, or at least too much of an all or nothing deal as far as what it takes to qualify as a good fundraiser.
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$0 in the past 18-months toward the AV. Literally every poster on GH could have done just as well.
 




NewJerseyGopher said:
Do you actually believe that? Seems like miss information to me.
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You’ll have to forgive me if I don’t consider the instincts of someone who thinks sending insulting messages about the wife and kids of an anonymous message board poster is cool.
 

Spoofin said:
You’ll have to forgive me if I don’t consider the instincts of someone who thinks sending insulting messages about the wife and kids of an anonymous message board poster is cool.
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lol never said anything about your kids. Stopping making things up spoofy.
 

I tried searching to find any official fundraising total for the AV. Found a U of M site - but it had not been updated for a year.

I think the issue/concern is this: that project was supposed to be paid off through fund-raising. if it cannot be paid off through fund-raising, then the needed money will have to be diverted from another source, taking money away from its intended purpose.

Fund-raising is certainly part of the AD's portfolio.

It has also been said time and again that a winning football team typically results in fund-raising going up for that school. I seem to remember quotes about how much more $ that Wisconsin raised after going to the Rose Bowl. So, we will have to see if the recent on-field success for the Gophers translates into increased fund-raising success.
 



Why does such a necessary, important facility have to be paid for with donations?

That's stupid. Just pay for it with your own money, over time (ie, a loan, bonds, whatever). We badly needed it. Done.
 

short ornery norwegian said:
I tried searching to find any official fundraising total for the AV. Found a U of M site - but it had not been updated for a year.

I think the issue/concern is this: that project was supposed to be paid off through fund-raising. if it cannot be paid off through fund-raising, then the needed money will have to be diverted from another source, taking money away from its intended purpose.
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It seems the only people who share your concerns about the fund-raising and remaining debt for Athlete's Village are Shooter and Spoofin. As far as I can tell, you are the only ones who have mentioned it since since AV was completed. And to my knowledge, there hasn't been a peep from Michael Hsu, Steve Sviggum, and several other members of the Board of Regents who were never reluctant to criticize the fiscal management of the U by President Kaler and his staff.
 

Cruze said:
It seems the only people who share your concerns about the fund-raising and remaining debt for Athlete's Village are Shooter and Spoofin. As far as I can tell, you are the only ones who have mentioned it since since AV was completed. And to my knowledge, there hasn't been a peep from Michael Hsu, Steve Sviggum, and several other members of the Board of Regents who were never reluctant to criticize the fiscal management of the U by President Kaler and his staff.
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Wierd people don’t care as long as someone else foots the bill. That said, should donations not cover it the debt service should be easily handled with the size of revenue stream the department is currently receiving if all the other ducks (or geese as it may be) are in a row.
 

Cruze said:
It seems the only people who share your concerns about the fund-raising and remaining debt for Athlete's Village are Shooter and Spoofin. As far as I can tell, you are the only ones who have mentioned it since since AV was completed. And to my knowledge, there hasn't been a peep from Michael Hsu, Steve Sviggum, and several other members of the Board of Regents who were never reluctant to criticize the fiscal management of the U by President Kaler and his staff.
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What exactly is my concern over the remaining debt? Foreclosure? I believe my exact quote was "I agree this isn’t a point of concern financially for the AD". As for mentioning it - you do realize you are in a thread dedicated to discussing it, right? It seems to me your real rub here is criticism of Mark Coyle and the fact that I provided evidence to support what some feel is an inadequacy of his.
 



Is it possible U of M is more concerned with fundraising as a whole and sees athletics as a gateway to encourage overall school pride and research dollars. This is what other Universities have recognized (k-state in early 2000's a leader in this area). Coyle has built something people want to connect with. Congrats and fundraising has many aspects to it
 

That remaining debt has to be accumulating interest and that is wasted money. Come on Lou Nanne, we need to get this paid off.
 

With interest rates as low as they are, The U should stretch that debt out as far as they can. I assume that's part of the AV strategy. Just taking the numbers from the title, that's a 26% debt ratio. Perhaps fiscal management is one of Coyle's many strengths.
 

MplsGopher said:
Why does such a necessary, important facility have to be paid for with donations?

That's stupid. Just pay for it with your own money, over time (ie, a loan, bonds, whatever). We badly needed it. Done.
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I would argue the parking department should pay for it with the profits it takes in from Gopher events. Any difference between standard parking rates and game day rates should have gone into a fund for things like this.

I have no issue if the U pays for it out of their endowment, student fees, or fund raising, personally. My only issue is if it has been determined that it will solely be by fundraising then we certainly haven't seen much progress since Coyle has come here, and frankly, that should be a big part of his job...
 


Nokomis said:
With interest rates as low as they are, The U should stretch that debt out as far as they can. I assume that's part of the AV strategy. Just taking the numbers from the title, that's a 26% debt ratio. Perhaps fiscal management is one of Coyle's many strengths.
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The choice to build without the full funding was made before Coyle.
 

It appears that Michigan doesn't pay off their athletic facility projects with donor contributions. The following article describes how they deal with their athletics department debt.


How Michigan Is Handling $240M Athletics Debt

The University of Michigan athletic department sits atop $240 million in debt at a time when several major college athletics programs are grappling with enormous and potentially crippling debt loads.
Fueling that peril are ESPN subscriber losses that sap revenue from a network whose gargantuan spending on college football TV broadcast rights is a vital revenue stream for major universities.

"We watch very closely with what's happening to ESPN," said Kevin Hegarty, UM's executive vice president and chief financial officer. A look at UM's financials shows that its athletics debt stems from spending on new venues and renovations such as expansion of Michigan Stadium and construction of the football team's Al Glick Field House. Millions more are owed for interest.

As CFO, Hegarty is UM's top financial mind and its budget steward. In a conversation with Crain's, he outlined why the debt load isn't worrisome. Namely, the reputation and credit rating allow the school to borrow money at favorable rates, administrators budget smartly, and deep-pocket donors writing big checks reduce the need to borrow, he said.

A more detailed breakdown of the athletic department's current debt shows $371 million in principal and interest payments for 10 projects through 2046, according to information supplied by the university under a Freedom of Information Act request by Crain's. UM could end up paying less than $371 million if it pays off principal sooner, which reduces or eliminates interest - the same as with a home mortgage or auto loan.

That breakdown shows the athletic department's annual debt payments will leap to more than $20 million beginning in 2019 before leveling off to about $15.7 million annually from 2022-36 - provided the department takes on no new debt, an unlikely scenario as the department seeks to upgrade older facilities and build new ones to remain competitive. Hegarty said the athletic department can absorb the increased annual debt payments because revenue is expected to rise equally quickly.

The interest part of the equation is purely theoretical. Hegarty's office is constantly seeking lower rates to drive down payments. The athletic department currently has $131 million in interest payments on the books through 2048, but Hegarty stresses that the amount will change as the university seeks to refinance debt, and it could pay down its borrowing early thanks to donations and other revenue sources.

It also will take on new debt, such as for the plan approved recently to spend $21 million to refurbish the Oosterbaan Field House for the football team. "We are constantly in the market, looking for opportunity to take advantage of reduced interest rates," Hegarty said. "We'll manage that down as much as we can."

That said, UM certainly will pay a large chunk of that interest, just as homeowners who stay in their home pay far more than the list price over a 30-year mortgage. But unlike a homeowner, UM isn't going to sell the football stadium to move elsewhere.

The ground rule for the athletic department taking on debt is simple: "When the time comes, they're going to have to have the money. The institution isn't going to provide that money," Hegarty said. In other words, the university as a whole ultimately backs the bonds, but the athletic department has to convince the administration that it can pay off the spending without trouble. And that's been working. "The regents are very comfortable where we are debt-wise and operationally," Hegarty said.

Read complete article at: https://www.athleticbusiness.com/college/how-michigan-is-handling-240m-athletics-debt.html
 

Nokomis said:
With interest rates as low as they are, The U should stretch that debt out as far as they can. I assume that's part of the AV strategy. Just taking the numbers from the title, that's a 26% debt ratio. Perhaps fiscal management is one of Coyle's many strengths.
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Coyle may be a genius at fiscal management - although I suspect there are accountants at the "U" that handle those decisions like at all other businesses. However, if the AV is being paid for by donations given for the AV then it would go to reason that the "U" would have to apply those donations toward the AV. Debt ratio and interest rates wouldn't factor in unless the "U" gets to decide where AV donations go to within the AD.
 

A_Slab_of_Bacon said:
You mean taxpayer dollars and student fees?

You'd rather that than donations?

What a strange choice.
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Oh sure, I’d love to have a magic unicorn fart out truckloads of free money. Wouldn’t you??
 

MplsGopher said:
Oh sure, I’d love to have a magic unicorn fart out truckloads of free money. Wouldn’t you??
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