Russo Park name OK'd, with conditions

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April 26th, 2016, 04:20 pm
VObserver

Re: How will this effect baseball?

Quote:

Originally Posted by wcd35

$5 million unless that has changed as the price went up

10, because they don't have the other 5 mil in hand either.
April 26th, 2016, 04:34 pm
Rebel02

Re: How will this effect baseball?

Quote:

Originally Posted by VObserver

There are far worse problems than 'this thing not happening'... Like this thing happening and the University having to come up with 10 mil it doesn't have. And that's without getting into the 'why' we don't have it in hand already.

We didn't need $10MM to get started. We only had to raise 50% and Tony did that. Russo wanted to make annual donations. Who would turn down how the donor wants to contribute the funds to get a project you've been waiting started? And at the end of the day, T-Joe signed off on it.

The university doesn't have $25MM, but it sure as hell got Tier 1 done of the Master Plan.
April 26th, 2016, 04:40 pm
CajunAmos

Re: How will this effect baseball?

Quote:

Originally Posted by VObserver

10, because they don't have the other 5 mil in hand either.

I'm pretty sure they have a good percentage of the other 5 mil in hand.
April 26th, 2016, 04:42 pm
Dad04

Re: How will this effect baseball?

FWIW there was no attempt to conceal ownership in the third party corporate entities, by the defendants. There are legal means to conceal entity ownership from ANYONE and that was not done on the one corp. name I checked. Could be very indicative of any lack of intent.
April 26th, 2016, 04:49 pm
VObserver

Re: How will this effect baseball?

Quote:

Originally Posted by CajunAmos

I'm pretty sure they have a good percentage of the other 5 mil in hand.

All I know is that they have been repeatedly asked how much of the other 5 mil they have in hand, and they have never given a straight answer.
April 26th, 2016, 05:16 pm
CajunAmos

Re: How will this effect baseball?

Quote:

Originally Posted by VObserver

All I know is that they have been repeatedly asked how much of the other 5 mil they have in hand, and they have never given a straight answer.

I don't think that's correct. I don't think they have put out a public announcement about donations but I think there have been some numbers given in different club meetings.
April 26th, 2016, 05:24 pm
CajunT

Re: How will this effect baseball?

Quote:

Originally Posted by CajunAmos

I don't think that's correct. I don't think they have put out a public announcement about donations but I think there have been some numbers given in different club meetings.

Coach Robichaux stated $7.5 mil was raised at the beginning of the season, but several other donations were procured during the silent phase. Did you hear something else, because I have not heard that most of the other $5 mil has been raised?
April 26th, 2016, 05:26 pm
CajunAmos

Re: How will this effect baseball?

Quote:

Originally Posted by CajunT

Coach Robichaux stated $7.5 mil was raised at the beginning of the season, but several other donations were procured during the silent phase. Did you hear something else, because I have not heard that most of the other $5 mil has been raised?

That is the number I was referring, and that was at the beginning of the season with a larger number given as part of the phase II renovations.
April 26th, 2016, 05:29 pm
CajunT

Re: How will this effect baseball?

Quote:

Originally Posted by Rebel02

We didn't need $10MM to get started. We only had to raise 50% and Tony did that. Russo wanted to make annual donations. Who would turn down how the donor wants to contribute the funds to get a project you've been waiting started? And at the end of the day, T-Joe signed off on it.

The university doesn't have $25MM, but it sure as hell got Tier 1 done of the Master Plan.

If you remember, bonds were sold for Phase I in addition to Hudspeth and RCAF Board members going out to raise the difference in the actual cost of completion that was said to be over $30 MM. Also as you have stated, there is an APC Auxiliary Fee of $1.8 MM per year as well. But I'm not worried about the baseball stadium until we are told differently.
April 26th, 2016, 05:31 pm
CajunT

Re: How will this effect baseball?

Quote:

Originally Posted by CajunAmos

That is the number I was referring, and that was at the beginning of the season with a larger number given as part of the phase II renovations.

I thought he said a total of $7.5 MM had been raised at that meeting? I could be wrong, but that is what I remember.
April 26th, 2016, 06:11 pm
CajunAmos

Quote:

Originally Posted by CajunT

I thought he said a total of $7.5 MM had been raised at that meeting? I could be wrong, but that is what I remember.

Yep
April 26th, 2016, 08:40 pm
cajunhawk

Quote:

Originally Posted by Cajunfanatico

When I sold my company to a NYSE-traded firm, all final number crunching was transferred to the parent. That's to say, my accounting department became a simple conduit for monthly income and expense numbers, nothing more. Final monthly numbers including depreciation, employee withholding, state and federal tax liabilities etc were all calcuated by the parent and presented to me at monthly meetings held in Houston. And for the record, before the sale took place I paid to have my previous 3 years of financial statements audited by a major firm out of Houston. This was, of course, to give any potential buyer more confidence that they were getting what they paid for.

I also recall the day of the sale signing non-compete, non-disclosure, patent protection and a myriad of other forms I don't recall protecting the parent and tying my hands. I'm sure that's pretty much standard procedure, especially for companies operating under SEC guidelines.

Very interesting. That would put the onus on the parent.

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