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JMI Sports... facility planning and financing

I’m on board with the virtual Pitt Stadium. Fill it with bots in the stands which “fans” can attach to via an app so they can immerse themselves into the virtual experience watching the virtual game.
 
One easy 'culture change' is paying up for a top tier salary hc. Seems less risky to me. Yeah they could always hire Noel Mazzone or something and stay mired in mediocrity, but at least you don't have a stadium of debt you can't upgrade or even upkeep.

Most of those top tiered salary coaches are paid for by the top tier programs that have far more cash. It's not that easy. A program like ours needs to hit on a coach and keep him with a competitive salary. We aren't going to be able to pay Bama, Michigan, tOSU salaries.
 
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So you're saying that the Public is having a hard time making those debt payments? Are you saying that the Public is in danger of defaulting?


Good god, so that's your standard? The debt service payments could be ten times what they are and they would still be able to make the payments, because they have the power to tax people and get money pretty much any time they want.

If that's the way that you look at it then you pretty much don't have any problem with government spending any amount of money on anything under the sun, because hey, they aren't defaulting. You can't seriously think that, can you?
 
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Good god, so that's your standard? The debt service payments could be ten times what they are and they would still be able to make the payments, because they have the power to tax people and get money pretty much any time they want.

If that's the way that you look at it then you pretty much don't have any problem with government spending any amount of money on anything under the sun, because hey, they aren't defaulting. You can't seriously think that, can you?

their debt obligation as a percentage of their operating budget or projected tax revenues is not making me lose sleep. u make it sound like this debt will never be paid back. if you dont like taxes, dont live or work in the city or allegheny county.

i'd rather have Pitt issue a bond rather than increasing tuition or student fees...those would be the taxes.

i hate taxes just like everyone else but the public's democratically elected politicians voted it through.

do you think i approved Heinz? Hell NO. I wanted Pitt playing at a renovated Pitt stadium. Screw the Stillers.
 
Leasing
As supposed to buying the sedan for twice the Payments for 50 years

And we look like this driving it:

43385723_61a656304d.jpg


But it has heated seats, so totally worth it.
 
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Just out of curiosity, do you know when the Three Rivers Stadium debt was paid off?




Yeah, but what happened when the public actually voted on it?

leave 3 rivers out of it. we're talking heinz

i vote against any politician using debt or tax dollars to support billionaires

what did Yinzers think the Rooneys would do...move to West Virginia?
 
Joe, the Roman Empire is still paying debt service for the Coliseum. Still, you are either invested in big time football or not.


Right. Which is why making that argument that a stadium is going to pay for itself because we might host one or two soccer games and maybe some high school football games there is so dumb. Just man up and admit what everyone knows. If we want a stadium in Oakland it will NEVER make financial sense. If we are going to do it we have to decide to do it even though it doesn't make financial sense.
 
Right. Which is why making that argument that a stadium is going to pay for itself because we might host one or two soccer games and maybe some high school football games there is so dumb. Just man up and admit what everyone knows. If we want a stadium in Oakland it will NEVER make financial sense. If we are going to do it we have to decide to do it even though it doesn't make financial sense.

show me the feasibility study. run the numbers. make some assumptions. create various scenarios. i personally would not be for any project that doesnt generate a positive ROI. and for Pitt, one that would require little debt financing and absolutely no increases in tuition or student fees. But you and I dont know the answer so we end up arguing all day.
 
Well, Louisville not standing pat..
https://gocards.com/news/2019/4/2/general
UofL Athletics Engages Populous for Facilities Assessment
Story Links
LOUISVILLE, Ky. – University of Louisville Athletics has engaged Populous, a global architecture and design firm, to provide a detailed facility assessment for the Cardinals' sports venues.

While UofL has built some of the finest athletic facilities in the nation in recent years, many are over or approaching 20 years in age. The age and evolving needs of the Cardinals' sports programs provide a need to gauge the current status of facilities and prioritize a plan moving forward. The assessment is expected to take about six months and Populous will begin in mid-May.

The review will include physical assessment, current replacement value, capital maintenance and renewal items, an implementation plan for possible renovations with cost estimates, a space and utilization analysis, benchmarking analysis, an energy management and sustainability plan, and a verification of building allocation and configuration.
 
show me the feasibility study. run the numbers. make some assumptions. create various scenarios. i personally would not be for any project that doesnt generate a positive ROI. and for Pitt, one that would require little debt financing and absolutely no increases in tuition or student fees. But you and I dont know the answer so we end up arguing all day.


People have studied stadium financing for years and years and years. Every single study that isn't commissioned by a team owner hoping to dupe local citizens into giving them tens or hundreds of millions of dollars shows the same thing. Sports stadiums are money losing ventures for local communities that pay for and build them.

But yeah, Pitt will figure out something that no one else in the entire country has been able to do. Right. Sure.
 
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Well, Louisville not standing pat..
https://gocards.com/news/2019/4/2/general
UofL Athletics Engages Populous for Facilities Assessment
Story Links
LOUISVILLE, Ky. – University of Louisville Athletics has engaged Populous, a global architecture and design firm, to provide a detailed facility assessment for the Cardinals' sports venues.

While UofL has built some of the finest athletic facilities in the nation in recent years, many are over or approaching 20 years in age. The age and evolving needs of the Cardinals' sports programs provide a need to gauge the current status of facilities and prioritize a plan moving forward. The assessment is expected to take about six months and Populous will begin in mid-May.

The review will include physical assessment, current replacement value, capital maintenance and renewal items, an implementation plan for possible renovations with cost estimates, a space and utilization analysis, benchmarking analysis, an energy management and sustainability plan, and a verification of building allocation and configuration.


You understand that Pitt just completed one of these studies within the last year, right?
 
Right. Which is why making that argument that a stadium is going to pay for itself because we might host one or two soccer games and maybe some high school football games there is so dumb. Just man up and admit what everyone knows. If we want a stadium in Oakland it will NEVER make financial sense. If we are going to do it we have to decide to do it even though it doesn't make financial sense.
Football.......even on an NFL level, doesn't make as much financial sense as baseball, basketball or hockey where they have 40-80 home games on a pro level and at least 15 or so on a college level.
 
Spoiler alert

We voted it down and it wasn’t close

Socialism for billionaires is the height of stupidity

proof that most of the taxpayers aren't smart enough to be trusted with deciding how to spend tax dollars. To say the North Shore development wasn't a good idea is foolish. If it was up to Joe Q. Public, you would still be staring at a sea of concrete over there.
 
Well, Louisville not standing pat..
https://gocards.com/news/2019/4/2/general
UofL Athletics Engages Populous for Facilities Assessment
Story Links
LOUISVILLE, Ky. – University of Louisville Athletics has engaged Populous, a global architecture and design firm, to provide a detailed facility assessment for the Cardinals' sports venues.

While UofL has built some of the finest athletic facilities in the nation in recent years, many are over or approaching 20 years in age. The age and evolving needs of the Cardinals' sports programs provide a need to gauge the current status of facilities and prioritize a plan moving forward. The assessment is expected to take about six months and Populous will begin in mid-May.

The review will include physical assessment, current replacement value, capital maintenance and renewal items, an implementation plan for possible renovations with cost estimates, a space and utilization analysis, benchmarking analysis, an energy management and sustainability plan, and a verification of building allocation and configuration.

I thought there was a report a while back on how much of a hole they were in because of the renovations at Papa John Stadium?
 
proof that most of the taxpayers aren't smart enough to be trusted with deciding how to spend tax dollars. To say the North Shore development wasn't a good idea is foolish. If it was up to Joe Q. Public, you would still be staring at a sea of concrete over there.
I miss those days. me and my buddies could go down to three rivers at 5am, wait in line and park at any spot we want, set up tailgate, save parking spots, drink all day and stumble into game.. it made for tremendous tailgates.

But yeah, not too great for the city, tax revenue, etc. and was an eyesore 99% of the time.. In all seriousness, I love when there is "things to do" around a stadium, hate when it's surrounded by a concrete endless sea.. Dodger stadium is the worst, stadium on top of a mountain surrounded by concrete. I love the old yankee stadium, Wrigley field where there are bars right across street. Camden is cool in Baltimore, lots to do, all within walking distance..

The "good ol days" of tailgating in endless lots, setting up your grill, chairs, table, and spreading out with room for the kids to run around is a thing of the past.. im ok letting it go.
 
Do you guys really not see that spending hundreds of millions of dollars on a "right-sized" stadium is a) Proclaiming to the football world that we are not and never will be big time.
And, b) showing we have the collective IQ of a mollusk.

Why would anyone do a) and b)? And pay hundreds of millions to advertise our short-comings?
If what colleges spend in athletics had anything to do with common sense, college athletics wouldn’t exist. This utilitarian schtick you and others cling to is a crock. Either compete with everyone else or get the hell out of playing division 1 FB
 
One thing Pitt fans need to accept (hi Del) is those 70's were the aberration not the norm. College Football, only so many programs are set up to be great over stretches of time. Sure, many can go on a year run, maybe 3, maybe 5, but they always come back to the norm (Pitt). Since 1939..which is what, almost 80 years.....which is a heckuva sample size, Pitt has finished in the Top 10 six times (5 of them between 76-82 which is impressive). Since 1983, Pitt has finished in the top 25 five times. Since 1939, Pitt has been ranked 20% of the seasons.

So, it is not like it is a slam dunk. Minnesota is an interesting comparison. First of all, Minnesota is HUGE campus, one of the top 10. Minny-St Paul has over 1 million more people than the Pittsburgh area. There are no other major college teams in state, or with 250 miles. Pitt has PSU, OSU, WVU and Maryland within 250 miles, and Michigan is 280 miles. So you would think attendance for Minnesota would be great. The Vikings haven't been anywhere near as good as the Steelers. The average attendance for Gophers games this past season was just under 38,000 (37,915). So....for a school like Pitt which has 3 times as many constraints as Minnesota, planning to somehow fill a 69,000 canary yellow seats is just a futile endeavor.
Not accepting the aberration crap....if we get a HC who’s worth a darn, then we don’t succeed, I’ll reconsider your position. Pitt has hired HCs who couldn’t deliver anything other than mediocre results ANYWHERE!
 
show me the feasibility study. run the numbers. make some assumptions. create various scenarios. i personally would not be for any project that doesnt generate a positive ROI. and for Pitt, one that would require little debt financing and absolutely no increases in tuition or student fees. But you and I dont know the answer so we end up arguing all day.

Do you have one?
 
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Not accepting the aberration crap....if we get a HC who’s worth a darn, then we don’t succeed, I’ll reconsider your position. Pitt has hired HCs who couldn’t deliver anything other than mediocre results ANYWHERE!

Two things:

The 6 year oasis ('76-82) in 80 years is in fact an aberration. If Ben played 80 games, 6 of them great, the rest mediocre to bad, you would be apoplectic if anyone would try and sell Ben as "great".

I do agree with you, we have done a lousy job identifying coaching candidates whether it is pay (cheap) or just a huge mistake judgements (Foge and Hackett).
 
Two things:

The 6 year oasis ('76-82) in 80 years is in fact an aberration. If Ben played 80 games, 6 of them great, the rest mediocre to bad, you would be apoplectic if anyone would try and sell Ben as "great".

I do agree with you, we have done a lousy job identifying coaching candidates whether it is pay (cheap) or just a huge mistake judgements (Foge and Hackett).
Sure that period was an aberration...one which correlates with the only 6 years in the last 50 when the admin. supported FB AND Pitt had good HC's. Coaches, Coaches, coaches....it's always about the coaches!
 
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Sure that period was an aberration...one which correlates with the only 6 years in the last 50 when the admin. supported FB AND Pitt had good HC's. Coaches, Coaches, coaches....it's always about the coaches!
Yeah well...that and there wasn't as much money as there is now in the sport. It is like in the 70's, 80's even those early 90's teams, the Pirates payroll was pretty much in line with the Yankees. Then all the individual cable deals and revenue streams and there is this huge divide. Same thing with college sports.

Pitt has an endowment 3 times the size of Alabama's, but Alabama likely has a football budget and revenue 3 times the size of Pitt's.
 
Alabama likely has a football budget and revenue 3 times the size of Pitt's.

Pitt only has to be better than a few teams that really are as good or a little worse than Pitt. I present last season as evidence. If Pitt leverages that with a better OOC schedule and a couple of good recruiting classes, they're a 9-10 wing program and regularly in the top 25 (see Wisconsin and WVU). I don't know if Pitt ever commits to the next step but getting past the first shouldn't be this difficult. Especially when you look around CFB and appreciate Pitt's situation.
 
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