If im reading this right We will end up paying 20 mill in intrest . We are trying to pay for a Bugatti on a McDonalds salary
Interest is almost double???
CHUUUU
You are right the South End Zone Project was premature as evidenced by it not even being the biggest piece of news the following season.
The biggest news was that they were opening up the student Red Zone to season ticket sales. That move totally undid any buzz the SEZ seating project might have generated.
SEZ was one of the least expensive improvements that could be done to CF. Everyone got something.
I’m not a financial guru, but with the level of indebtedness we have, the number of actual “investors” we have, the balance between raising fees/levels/pricing and on court/field performance, and time frame, what is a realistic plan and date for CF being addressed is the 64 dollar question.
Renderings were done in the 80’s for the SEZ. Don’t need another 30 year wait.
Again, there was no RCAF money. It was donations and a loan for the remaining amount. I don't know where we are currently with the suites revenue, but initially they were all rented with five year commitments which should have brought in about $5M over that time frame (if my memory is working correctly).
Everyone got something? What exactly did we get again? A bunch of seats that we didn’t need, a bell tower that is so low nobody can hear the bell ring, and millions in debt to pay off for a structure that doesn’t generate revenue.
Contrast that to what Tech did. For just a few mil. more than what we spent on that end zone project, La Tech built a brand new press box with 13 suites that will generate millions of dollars of revenue for them over the coming years.
And Farmer sunk all this money into Cajun Field without bothering to do his due dillegence and check if Cajun Field was even worth keeping around. Since then we’ve found something like $10,000,000 in structural issues we’ll apparently have to correct before we ever even add a new brick to the stadium. The lack of foresight and planning was astounding.
There are currently 5 users browsing this thread. (0 members and 5 guests)