You guys are hilarious in justifying the cost of building the Pete as necessary, and letting the success of men's basketball create some inconsistency in your arguments.
The Pete "was necessary for Pitt to get invited to the ACC"? Hardly. Please tell me how Pitt playing in the Consol or Civic Arena would have caused the ACC to say "let's ask Rutgers or WVU instead." Please.
Adding women's basketball and the workout facility to this argument as justifications for spending $160 million? Laughable.
If we are looking at this from a purely financial perspective (as is done for football), then partnering with the Penguins to provide a home for Pitt men's basketball in a professional arena would have been a huge money saver. It would have provided easier transportation and parking during games, another common point raised and a frequent complaint for basketball games now. The ACC would still have invited Pitt. The resulting money saved could have been used in other areas. The Pitt Stadium land could have been sold and generated, (according to CrazyPaco's original number of price per acre) over $150 million (today's dollars). That money, along with what Pitt spent on their Pete contribution, and donations, could have been used to establish a huge athletic endowment, build a new workout space for students, upgrade the interior of the Field House, and much more. Or, Pitt could have used that land for the much needed Track And Field facility while still having pro facilities for football and men's basketball.
Like I have been saying, the $160 million arena was built primarily for men's basketball.
It is certainly not apples to oranges. More like Granny Smith to Golden Delicious. You guys just don't want to admit it.