2020 UL Development

[VObserver]

Hrm....I seem to remember a certain poster who said this same thing when the hiring announcement was made, maybe even started a thread about it, and was chastised.

Interesting....

You and me, too Runner. Just sayin

[CajunT]

Sorry but those numbers are NOT realistic. You are talking a lease payment of 83K per DAY!! If you assume a very good margin of 30% profit on sales you are looking at yearly sales revenue of 100 million just to pay the rent.

Not buying it. The figures just aren't adding up.

You don't have to buy anything because we don't have information on what the entire deal, including stadium improvements and infrastructure would be involved. Again the number thrown out was around $30m in total dollars. That could include a number of things beyond leases. It wasn't defined for me and a few others.

[CajunVic]

I believe the land for the Costco Develepment was sold to the developer for $30mm

[BrockMeaux]

As mentioned earlier as well, this was a complete development. Also included stadium renovations and naming rights b

They could’ve leased it for $1 a year if a complete stadium renovation was included for all I care. That’s, like, THE pressing money matter facing our athletic department.

[cajun4life]

They could’ve leased it for $1 a year if a complete stadium renovation was included for all I care. That’s, like, THE pressing money matter facing our athletic department.

100% true

[CajunVic]

Sorry but those numbers are NOT realistic. You are talking a lease payment of 83K per DAY!! If you assume a very good margin of 30% profit on sales you are looking at yearly sales revenue of 100 million just to pay the rent.

Not buying it. The figures just aren't adding up.

You don’t know the numbers and we don’t know the numbers but the sad thing is that the President of our University chose not to know the numbers.

Passing on a development opportunity without effort and supporting BLM - obviously without checking into what they are - are both unacceptable results from the leader of our university.

[ULvictory]

Sorry but those numbers are NOT realistic. You are talking a lease payment of 83K per DAY!! If you assume a very good margin of 30% profit on sales you are looking at yearly sales revenue of 100 million just to pay the rent.

Not buying it. The figures just aren't adding up.

Let’s take away the numbers for just a second.

The fact of the matter is that we had people with some massive financial prestige in the business world that showed interest in investing in our university and community, and we sat on it by not returning a phone call.

[Rainman66]

Let’s take away the numbers for just a second.

The fact of the matter is that we had people with some massive financial prestige in the business world that showed interest in investing in our university and community, and we sat on it by not returning a phone call.

I agree 100%. It also feeds into a stereotype that our people may not be the brightest or most educated. I would walk away thinking, ‘If a deal that sounds this good can’t even generate a meeting with a university president, these are not serious people.’

[Turbine]

Again the number thrown out was around $30m in total dollars. That could include a number of things beyond leases. It wasn't defined for me and a few others.

$30 million in total dollars sounds a lot more reasonable than $750 million.

Still I can't comprehend Savoie playing hardball over $30 million, especially when UL retains ownership.

$30 mil is FIVE TIMES what he got for the horse farm where UL lost ownership and $30 million times more than Authement got for the Cajun Dome where he kept ownership.

[Cajunfever]

Lots of speculation.....

CajunT, why don't you do a FOI(Freedom of Information) request to expose all of this. If this is accurate, their will be a huge uproar within the community.

[CajunVic]

Lots of speculation.....

CajunT, why don't you do a FOI(Freedom of Information) request to expose all of this. If this is accurate, their will be a huge uproar within the community.

I would bet it was nipped in the bud so early there won't be much revealed from this. FOYA only requires that govt provides written info or documents.

[Cajunfever]

I would bet it was nipped in the bud so early there won't be much revealed from this. FOYA only requires that govt provides written info or documents.

Correct.

I am assuming there is an email thread especially if someone resigned over this as was mentioned. If nothing exists in writing, maybe this is all speculation. If a developer made an offer for $30M a year rent for 25 years, the developer would put this in writing to the university. If I am T-Joe, I would not entertain anything until it is in writing. Maybe T-Joe called their bluff if they would not put anything in writing.....If this is a legit business proposal, there would be a written proposal to the university.

Maybe T-Joe told them not to waste their time, If I am the developer I would put the proposal in writing to force T Joe to formally reject the proposal. I would then leak this proposal to the media which would get T-Joe to publicly explain why he is rejecting the offer.