Vagabond Jaysquawkers, doing well -- finally

[tmcats]

[WildcatEngineer]

https://www2.kusports.com/weblogs/2024/ ... be-needed/

With $300 million raised, KU would be approximately $150 million short of the Gateway project’s estimated price tag.

Whatever the amount of needed debt, Girod said he still expects all of the debt payments to be the responsibility of Kansas Athletics Inc. rather than covered by KU’s general budget.

“There is still no anticipation of the university taking on that debt,” Girod said.

However, Girod said the athletics department debt might be packaged with other university-related debt — he mentioned possible student housing debt — in order to make the debt more attractive to bond buyers.

The ultimate debt number will be an important one to the future of Kansas Athletics. A $100 million-plus debt issuance could require Kansas Athletics to come up with $10 million a year, or more, in annual debt payments. That would come at a time when KU Athletics may be under pressure to find $20 million a year to begin paying student athletes under a proposed NCAA-wide lawsuit settlement.

All of that is giving KU plenty of incentive to try to raise additional donor dollars for the Gateway project.

“Every bit of fundraising helps diminish that number,” Girod said of a potential debt issuance. “You’ve heard about all the other pressures on athletics revenues, the less pressure we can put on debt service the better so that we can focus on all these other dynamics we are trying to contend with.”
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The good news for KU is they have raised $300,000,000 in private and public (Kansas Dept of Commerce). The bad and it is bad news is that is $150,000,000 short of what they need and that is just on 2/3 of the stadium. They do not have anything for the east side or the Hotel. Plus all their major contributors have been strong armed for the stadium. Now they are begging for NIL.

I know I am looking at this through a Purple Haze, but this reads like Girard and Goff are attempting to tell the fan base that the KU Athletic Department has long term financial problems. They are over extended.

[tmcats]

it sounds like a call for their paul edgerley - assuming they have some of those types - to step up and save the project. "the booth" is going to look pretty uninspiring but two-thirds completed. i suspect some white knight jayhawk(s) will come riding to the rescue.

it would be awful to make this renovation part of the university debt pool rather than the athletic department's. they've already soiled topeka and governor kelly taking $50-80 million, i'm not sure of the actual number anymore, anyway, setting a precedent with taxpayers funding the front end of the project.

thanks for posting the update, WE.

[WildcatEngineer]

it sounds like a call for their paul edgerley - assuming they have some of those types - to step up and save the project. "the booth" is going to look pretty uninspiring but two-thirds completed. i suspect some white knight jayhawk(s) will come riding to the rescue.

it would be awful to make this renovation part of the university debt pool rather than the athletic department's. they've already soiled topeka and governor kelly taking $50-80 million, i'm not sure of the actual number anymore, anyway, setting a precedent with taxpayers funding the front end of the project.

thanks for posting the update, WE.

TM,
I tip my hat to Dr Girod and AD Goff for the transparency on their financial status. But I read this as a major SOS on the next decade for the KU Athletic Department.
- $150,000,000 short on Phase 1
- No estimate has been given on Phase 2, but it has to be over $200,000,000 with nothing raised and no timeline
- Dr Girod admits the Hotel firms want KU to take on all the risk. If I was a Hotel/Motel operator in Lawrence I would be raising hell on why KU is going into competition with my company.
- Paying an extra $10,000,000 annually for debt is not a small addition.
- Bill Self will not take a 2nd seat on NIL and KU Alum will not allow it.
- Do not be surprised if AD Goff announces the KU Women's Swimming and Diving Team will be converted to a "Club Sport" and will not be supported by the KU Athletic Department.

[WildcatEngineer]

KU Football is advertising for games being played at Arrowhead during the Chiefs pre-season game with the Jags.

I do not know if they are freebies or if KU is having to pay for the ads.

Chiefs are not advertising for NFL games.

[tmcats]

KU Football is advertising for games being played at Arrowhead during the Chiefs pre-season game with the Jags.

I do not know if they are freebies or if KU is having to pay for the ads.

Chiefs are not advertising for NFL games.

chiefs make a lot of dough if the squawks show for their arrowhead games. chiefs capture parking and concessions, i believe.

[SCKSCat]

it sounds like a call for their paul edgerley - assuming they have some of those types - to step up and save the project. "the booth" is going to look pretty uninspiring but two-thirds completed. i suspect some white knight jayhawk(s) will come riding to the rescue.

it would be awful to make this renovation part of the university debt pool rather than the athletic department's. they've already soiled topeka and governor kelly taking $50-80 million, i'm not sure of the actual number anymore, anyway, setting a precedent with taxpayers funding the front end of the project.

thanks for posting the update, WE.

TM,
I tip my hat to Dr Girod and AD Goff for the transparency on their financial status. But I read this as a major SOS on the next decade for the KU Athletic Department.
- $150,000,000 short on Phase 1
- No estimate has been given on Phase 2, but it has to be over $200,000,000 with nothing raised and no timeline
- Dr Girod admits the Hotel firms want KU to take on all the risk. If I was a Hotel/Motel operator in Lawrence I would be raising hell on why KU is going into competition with my company.
- Paying an extra $10,000,000 annually for debt is not a small addition.
- Bill Self will not take a 2nd seat on NIL and KU Alum will not allow it.
- Do not be surprised if AD Goff announces the KU Women's Swimming and Diving Team will be converted to a "Club Sport" and will not be supported by the KU Athletic Department.

And, they will have around 20 million also each year they will be required to pay athletes due to the House vs NCAA settlement. Schools with big debt commitments for facilities will be hurting. With most of our big facilities campaigns behind us, our donors can put their $$$ towards NIL external funds so our NIL Collective, not controlled by the school, can give extra gravy to elite talents or a group of boosters can give separate sugar daddy deals to a single player.

It is hilarious to think that King Self may be told no by boosters when he asks for loot to pay a player, or for a raise. He may say kiss my jayhawkies, I quit. Same way with Liepold.

[WildcatEngineer]

KU Football is advertising for games being played at Arrowhead during the Chiefs pre-season game with the Jags.

I do not know if they are freebies or if KU is having to pay for the ads.

Chiefs are not advertising for NFL games.

chiefs make a lot of dough if the squawks show for their arrowhead games. chiefs capture parking and concessions, i believe.

Yes, Jackson County does take parking fees at the Truman Sports Complex. The parking fees include a Jackson County Sports Authority Parking User Fee, which is waived for Jackson County taxpayers who pre-purchase season parking

KU people are griping about pre-paying like $35 per car to park. And I think it is $50 if you do not pre-purchase

This is one of the major reasons Jackson County does not want the Royals to go Downtown.

Getting college kids out of bed on a Saturday Morning, to a pick-up site, and transported to Arrowhead for an 11:00 AM Kickoff is going to be interesting.

[WildcatEngineer]

That North East corner if it stays like that is going to look......what is worse than "rough"?

[tmcats]

goodness, that photo doesn't give me a positive feeling about how this memorial will turn out. the picture of in-com-plete and underwhelming.