FSU announces $65 million stand-alone football facility

[Gator Fever]

And the ones who over leveraged with that temporary ESPN revenue spurt may regret it later as ESPN is running into problems and that revenue stream may go away but the over leveraged teams ( who assumed that revenue would continue like you do) still have a high debt service. Add to that the recently added non deductibility of seat donations and you have another potential revenue loss. (but the high debt service remains). Add to that a normal recession and an over leveraged business has another revenue problem (but the debt service keeps coming).

Foley made terrible choices on his last two head football coaches so he made 2 major mistakes. Because UF was prudently run and not over leveraged UF still was able to give money to UF during those mistake years and still afford Mac's and Muschamp's buyouts.

I highly doubt we will be getting any advantage over the other teams anytime soon due to Foley being a cheapskate and not prioritizing football as much as he should have.

 

[jhbyrd]

You just displayed the type of thinking that has left us in the backburner. We were already in a positive cash position and revenue position before 2012. Then add the ESPN deal (SEC Network), added revenue from SEC contract (two added teams), and the added revenue from other avenues due to those changes. What would have been the risk analysis of the contract and currently is with a guaranteed contract with ESPN over the life of the deal? Do you think Disney is going to go default on it? It's all about risk/reward and over the lifetime of an expense asset of the caliber we are discussing, the UAA position would have been more than sturdy if those things you assume would have happen, happened.

Contracts are renegotiated all the time when one party has issues. The non deductibility of seat donations is not negotiable. A recession is not negotaible and football tickets and donations are discretionary items lower on the expense priority list especially with the ease of watching games on TV..

 

[jhbyrd]

I highly doubt we will be getting any advantage over the other teams anytime soon due to Foley being a cheapskate and not prioritizing football as much as he should have.

Foley's last 2 football coach choices hurt. When the 65 million dollar football center is completed we will be more than fine on facilities and UF is located closer to the top players which gives us an advantage. Just need to have a good coach and we should do well long term.

if we go into a normal recession UF will have an advantage with our overleveraged competitors as they may have to cut back on football expenses when UF with its smaller debt service won't have to.

 

[TheDouglas78]

Contracts are renegotiated all the time when one party has issues. The non deductibility of seat donations is not negotiable. A recession is not negotaible and football tickets and donations are discretionary items lower on the expense priority list especially with the ease of watching games on TV..

It goes back to the financial positioning, we were in the added revenue was gravy. That is what you are missing about the whole context of the conversation. Bama started the changes in 2006.... our financial position was much sturdier than theirs at the time, then added the extra revenue.

 

[Defend the Swamp]

Thanks to Foley we were stuck with two lousy coaches with horribly written contacts that over burdened ourselves and got sh!t in return...and also because of Foley, we are still mired with terribly outdated facilities, as we continue the struggle of digging ourselves from this vast pit of misery. All of this amid huge sums of inpouring revenue that Foley never properly managed nor leveraged that would have drastically ALREADY improved our position from a middling program to one of, if not The most envied program in the United States of ‘Merica.

I am glad that I have GC members that see though my bullish!t and continue to educate me

Fify

 

[jhbyrd]

Fify

Wrong.

 

[Defend the Swamp]

Wrong.

Which part Jeremy?

 

[jhbyrd]

It goes back to the financial positioning, we were in the added revenue was gravy. That is what you are missing about the whole context of the conversation. Bama started the changes in 2006.... our financial position was much sturdier than theirs at the time, then added the extra revenue.

I am not saying that over leveraging cannot work when you hire the right coach and the economy is good. Bama hired the right coach. They hired many bad ones before Saban. If they hired the wrong coach again and over leveraged it could have been a problem. If you hire the wrong coach and over leverage into a recession it can be a big problem.

Foley hired the wrong coach twice but we could afford it with our prudent positioning.

 

[Swamp Donkey]

If there is ever a Great Recession, we are the only team that will make it.

 

[jhbyrd]

If there is ever a Great Recession, we are the only team that will make it.

Wrong again. UGA has less debt than UF. Their alums are not opposed to giving to their university for facilities like Donkey is against facility donations for UF. Alum giving and prudent debt is working for them.

UF is between our 2 primary competitors in relative debt. FSU has more relative debt than UF and UGA has less relative debt.

 

[TheDouglas78]

I am not saying that over leveraging cannot work when you hire the right coach and the economy is good. Bama hired the right coach. They hired many bad ones before Saban. If they hired the wrong coach and over leveraged it could have been a problem. If you hire the wrong coach and over leverage into a recession it can be a big problem.

Foley hired the wrong coach twice but we could afford it with our prudent positioning.

Foley made bad coaching hires... no doubt. But that didn't change the fact that we had the position to make the improvements needed. The problem with the recession theory, is that UAA didn't experience that same recession. Muschamp didn't push for improvements and at least Butters did. Doesn't change the fact that if Foley was forward thinking, we would not be in the position we are in today. Obviously made good decisions on the stadium upgrades, but the other upgrades in relationship to both of his major revenue sports. He put on the back burner for much, much too long.

 

[Swamp Donkey]

Wrong again. UGA has less debt than UF. .

Ugly hired a Fooley assistant about a decade ago, also intent on winning a Debt Ratio Championship. I wont be surprised if they fire him/convince him to retire.

However, in the last two years they decided to try to win football championships instead. They spent 30 mil for an IPF last year and 60 mil for football offices all in one (in their stadium).

 

[jhbyrd]

Ugly hired a Fooley assistant about a decade ago, also intent on winning a Debt Ratio Championship. I wont be surprised if they fire him/convince him to retire.

However, in the last two years they decided to try to win football championships instead. They spent 30 mil for an IPF last year and 60 mil for football offices all in one (in their stadium).

Their successful strategy to fund those UGA projects was money from alum donations. No debt to fund those facilities increments you just listed. Plus unlike you they support the new head coach even after UF beat him his first year.

People like yourself want to complain about facilities while contributing nothing and want to put UF in a debt hole. You take it a step further by trying to get UF alums not to contribute to UF facilities and complaining about our new 6 million a year new head coach.

Put up or shut up comes to mind.

If you really want to help UF be a mole at the Fsu site and get them even more over their head in debt and complain about their head coach and facilities then try to get them not to contribute to facilities.

 

[Swamp Donkey]

Their successful strategy to fund those UGA projects was money from alum donations. .

Fukk you comes to mind. UAA has been wasting $140MM or similar top five revenue amount for decades, spending it on god-knows-what and sending 30 - 50 million per year back to the general fund.

 

[Blacklabgator]

I cannot believe this thread is still alive.

 

[jhbyrd]

Fukk you comes to mind. UAA has been wasting $140MM or similar top five revenue amount for decades.

Seriously if you were a mole on the FSU site and treated them like you treat UF you could take the Noles down!

 

[Swamp Donkey]

Seriously if you were a mole on the FSU site and treated them like you treat UF you could take the Noles down!

you fkkking cock bag. Jeremy Foley is the son of a bitch who made the University of Florida into a laughing stock.

you couldn't more thoroughly destroy a program if it was your sole intention.

do you ever take that dick out of your mouth?

 

[Swamp Donkey]

I'd love to send that piece of shyt Foley over to clown town. course no one else is stupid enough to hire in. every conference laughed at him.

 

[jhbyrd]

Fukk you comes to mind. UAA has been wasting $140MM or similar top five revenue amount for decades, spending it on god-knows-what and sending 30 - 50 million per year back to the general fund.

The UAA has given around 100 million dollars to UF over the last 10 years to help UF to maintain its status as a prestigious AAU member in spite of UF being in a low tax state. I know you think education funding is a waste.

FSU is not an invitation only AAU member like UF as they are focused on football and not education. If you were a mole on the FSU site they would agree with your belief that education is a low financial priority so keep doing that when you are there so we can keep them out of the AAU and UF can continue to crank out smarter kids than FSU.

If you can get them in even higher debt you could really screw their football program during the next liquidity crisis. Plus really dog on their new head coach like you do on UF's as he has a big buyout. This would be second nature for you Donkey! Go get them!

 

[jhbyrd]

I'd love to send that piece of shyt Foley over to clown town. course no one else is stupid enough to hire in. every conference laughed at him.

Foley could only do a fraction of the damage you would do over there. I have complete confidence in your ability to take FSU down academically and in sports as a mole. Just recommend to them what you recommend to UF.