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MoC said...
Financing a 100+ million dollar project on a state owned structure is a lot more complicated as you know. They don't have the cash on hand to undertake that without significant bonding capacity. The financing structure for smaller projects is different. As an example: TCU raised from 95 donors a 143 MILLION dollars for its stadium project in 2010.
So let's say Matt's source and your estimate is correct: A donors who want to give to a potential new baseball stadium in the range of 4-5 million. That's 15-16 million left to finance on a brand new construction, on land already owned by the University. That amount, while bigger, can be had much easier outside of bonding capacity especially if you have another 5-6 million on hand to start the project.
Football, in a perfect world, would be paid like these basketball projects are: by donations. The renovations of the Rupp lockeroom/player area is being funded between private donors and the city. Coal Lodge? Private donations.
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UKani said...
Well the full project for UK Football would have been a 100 million dollar project but it wasn't like they were building a whole new stadium so they could have done the thing in stages. If they have 30 million dollars then do stage 1 of the project, raise some more money then do stage 2 of the project, raise some more money then do stage 3 of the project.... That's just my thinking though and I don't know how feesible that would be to do...
hoptownukfan
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Matt May said...
Finally going public with the bonding issues has generated a lot of behind the scenes support and awareness, which has led to pressure to address the issues and get them changed. UK got tired of playing nice and trying to play the politicians' game behind closed doors. Barnhart going public with the issues was the first step in having real, meaningful progress toward getting the CWS project off the ground.
This post was edited by mrhotdice on 7/7/2012 at 12:56 AM
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MoC said...
The man's raised money everywhere he's been. He radically changed the face of UK Athletics and made it a modern organization amid a culture of cronyism and snooty, old money "Well Grandfather donated a 100k in 1975. I don't see why we should have to pay anything NOW" incestuous backroom dealing. He assembled a team that now includes how many BCS Conference AD's around the country?
Have I agreed with every decision he's made? No. WKYT and that whole group should have been cut out and new, modern media relationships built. He should have called Lexington's bluff on Rupp and he should have powered through the IMG Deal. I think he's had to learn a hard lesson in Lexington: You try to be nice and understanding nothing will get done and you'll probably get your throat slit.
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dvillepro1 said...
I truly think the good old boy crap stoped when he was hired. He was an outsider for the first time and he does know what it takes to make UK one of the best sports dept in the NCAA. He is tired of reading crap about him not careing when he does. His hands are tied. UK this yr had its best yr ever by its athletic programs. Its just over the past 4 yrs the economy has been a bust and for him to bring up money has been hard. We need a new baseball field. $100 mil put into the football program ( it brings in the most money so spend it on football)
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UKani said...
Well the full project for UK Football would have been a 100 million dollar project but it wasn't like they were building a whole new stadium so they could have done the thing in stages. If they have 30 million dollars then do stage 1 of the project, raise some more money then do stage 2 of the project, raise some more money then do stage 3 of the project.... That's just my thinking though and I don't know how feesible that would be to do...
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MoC said...
Just a few months ago Dave Baker posted on a popular UK Sports website admonishing UK Athletics for trying to "squeeze" more money out of people who had donated years ago in the past.
The "old boy network" is very much alive and well but manifests itself in different ways.
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New baseball stadium in works?