STrib: U faces daunting task in raising $190 million for practice facilities

[BleedGopher]

per the STrib:

The path toward funding the University of Minnesota’s ambitious $190 million athletic facilities upgrade will have to be markedly different — and likely more difficult — than the campaign that raised money for the school’s four-year-old football stadium.

It’s a huge challenge that has even some of the school’s biggest financial contributors concerned.

A day after introducing the plan, school officials reiterated Thursday that state money, which provided the bulk of the funding for the $288 million TCF Bank Stadium, has already been ruled out for the series of athletic upgrades — and a key legislator flatly said not to count on state money.

In addition, university leaders said they would have to raise the money while explaining that most of the new sports practice facilities, weight rooms and athletic classrooms — unlike the 50,720-seat football stadium — would rarely be seen by the public or by potential donors.

http://www.startribune.com/sports/gophers/215174521.html?page=all&prepage=1&c=y#continue

Go Gophers!!

 

[Parski1]

Raising that much money will be easier than watching #SharkNado.

 

[SJUgopher]

Start playing the lottery! Or maybe start a lottery...

 

[highwayman]

I counted at least half a dozen "opinions" by the writers in what is supposed to be a news piece. They managed to mine every doubt they could find. Lots of "I don't know how they're going to do it"s. I'll bet every person they supposedly interviewed likely added "but we'll get it done".

Anyway, having Beeson and Johnson aligned on this is a huge factor. I believe Denny Sanford is involved, and the financing piece has been well thought out.

If we have learned anything about Teague it is that he keeps most everything close to the vest. Add to that the massively crappy newspeople located in the TC--not one is going to figure out what he is up to.

I'm sorry, but in the bigger scheme, $190M is a pittance. It will happen.

 

[Rosemountian]

St. Thomas privately raised 500 million from 2009-2012.
If the U has any idea what they are doing they can get this done.

 

[short ornery norwegian]

I'm sorry, but in the bigger scheme, $190M is a pittance. It will happen.

As the article pointed out, the Gophers were scrambling to raise $90M for their share of funding for the stadium. And now, they're going to try and raise over twice as much money for a less-visible project. Unless they have someone - individual or business - lined up to make a major contribution, I think it is going to be an uphill battle to come anywhere close to their goal.

And I don't need to point out that, if they can't meet their goal and have to start scaling back the project, that is not going to look good.

 

[highwayman]

As the article pointed out, the Gophers were scrambling to raise $90M for their share of funding for the stadium. And now, they're going to try and raise over twice as much money for a less-visible project. Unless they have someone - individual or business - lined up to make a major contribution, I think it is going to be an uphill battle to come anywhere close to their goal.

And I don't need to point out that, if they can't meet their goal and have to start scaling back the project, that is not going to look good.

I read that nowhere in the article. It stated that the $90M fundraising was organized outside the AD. And the writers said "daunting," John Lindahl said "challenging". To date, the campaign has raised nearly $90 million in private funds for the stadium, surpassing the University’s goal of $86 million. The Lindahls are among 30 corporations and individuals who have donated $1 million or more. As the couple raised money for the stadium, they simultaneously sought student support, raising $45 million from private donors to be used for scholarships throughout the University. I think this can be pulled off.