Shooter: The University of Minnesota’s $166 million Athletes Village, which opened five years ago, still owes some $30 million.

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We know that Charley. Perhaps the Pioneer Press can wipe that debt out.
 

Why can't they grasp the fact, it can only be paid through direct donations. The dept could have a $1b bank account and still wouldn't be allowed to pay for it that way. Stirring trouble or just a moron?
 



The state obligation to the eyesore Vikings stadium is paid off. Just put some of that e-pulltab money toward it.
 



PMWinSTP said:
Coyle's Achilles heels are public speaking and fundraising.
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And I question how accurate the $30 million number is. Previously, it has always been referred to in $50-60 million range and there hasn't been news of a windfall donation that I have seen.

The bigger question....I know the administration likes buildings paid for but I assume we have a 2% rate mortgage on whatever the debt. Is that a bad use of money?

Just keep making the payments and start the campaign for a new basketball arena with the BS reasoning we'll be good because we have a new venue. It is time to replace Williams Arena.
 



BleedGopher said:
Per Shooter:

The University of Minnesota’s $166 million Athletes Village, which opened five years ago, still owes some $30 million.

www.twincities.com

Charley Walters: Artificial intelligence coming soon to a baseball team near you

Twins president of baseball operations Derek Falvey talks AI and how it will impact the team.
www.twincities.com www.twincities.com

Go Gophers!!
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This seems like a good news story. The glass 80% full version is the University of Minnesota has already paid over $130 million of the $166 million Athletes Village, which opened just five years ago.

Does Shooter think all companies and organizations pay everything in cash upfront? Loans and bonds happen at every level.
 

60's Guy said:
The bigger question....I know the administration likes buildings paid for but I assume we have a 2% rate mortgage on whatever the debt. Is that a bad use of money?
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Yeah there's good borrowing and bad borrowing. Ultra low rate? Good borrowing.
 

mngolf said:
Why can't they grasp the fact, it can only be paid through direct donations.
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I may also be one of the morons. Can you explain why athletic dept. revenue such as ticket sales, television money etc. cannot be used to pay down the debt? Previously the U said that the debt service would be paid by athletic revenue and donations. Have things changed?

"Brian Burnett, the University’s vice president for finance and operations, said costs for the project that do not come from donations will be financed by taking on debt. . . . 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."

mndaily.com

Fundraising and debt: How UMN is funding Athletes Village

With a projected cost of $166 million, and $106 million raised, the University of Minnesota is hoping fundraising can cover the total.
mndaily.com mndaily.com

Mark Coyle:

"Something that may fuel this misunderstanding is that the University is providing debt service - a loan - to bridge the difference between the total cost of the project (approximately $166 million) and the current fundraising total, which sits above $105 million and continues to grow. Our department is responsible to fully pay back the University for this loan, using future donations and athletics revenue as I mentioned before."

gophersports.com

Inside Gopher Athletics: Paying for the Athletes Village - University of Minnesota Athletics

Jan. 31, 2018 By Mark Coyle I recently read multiple letters to the editor that re...
gophersports.com gophersports.com
 

Ideally, you would want to pay off the remaining debt through donations - so the athletic dep't revenue could be used for other needs.

this could be another one of the catch-22 situations that schools are finding themselves in as we move further into the NIL era.

when MN is talking to prospective donors - what are they asking them to donate to? NIL, the Athlete's Village, the Golden Gopher Fund? If donors are getting hit up for multiple things, I can see where the donors might get a little tired of the constant requests for money.

it would be nice to have a MN version of Phil Knight or John Ruiz - some fat cat who can toss around 7-figure donations.
 



BigTenGuy said:
I may also be one of the morons. Can you explain why athletic dept. revenue such as ticket sales, television money etc. cannot be used to pay down the debt? Previously the U said that the debt service would be paid by athletic revenue and donations. Have things changed?

"Brian Burnett, the University’s vice president for finance and operations, said costs for the project that do not come from donations will be financed by taking on debt. . . . 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."

mndaily.com

Fundraising and debt: How UMN is funding Athletes Village

With a projected cost of $166 million, and $106 million raised, the University of Minnesota is hoping fundraising can cover the total.
mndaily.com mndaily.com

Mark Coyle:

"Something that may fuel this misunderstanding is that the University is providing debt service - a loan - to bridge the difference between the total cost of the project (approximately $166 million) and the current fundraising total, which sits above $105 million and continues to grow. Our department is responsible to fully pay back the University for this loan, using future donations and athletics revenue as I mentioned before."

gophersports.com

Inside Gopher Athletics: Paying for the Athletes Village - University of Minnesota Athletics

Jan. 31, 2018 By Mark Coyle I recently read multiple letters to the editor that re...
gophersports.com gophersports.com
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I wish I could find the media in the way you have. But what SON stated is a big part of it. They will spend all revenue on debts or other investments. All donations go to things valued more by the dept (my opinion-probably due to low interest and immediate effect) facilities already exist so unless high interest, who cares. People want to donate to NIL or new things.
 


I am sick of reading the same crap every year about how we still owe money on the Athletic Village. Does Walters seriously have nothing else to write about? I remember before the internet one would read Walters and Hartman for all things recruiting or any sports buzz that was going on. Now it is like reading news that is ancient and rehashed lazy garbage. I know it can't be easy going from a first read to a after thought, but quit trying to find negative click bait and then rehashing it every year.
 

I’m sure Walters has never had a mortgage.

Maybe that’s why a discounted subscription to his rag is now more than $3 A DAY. God help us.
 

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