Yes, in the 70s' architects loved them some concrete. Iowa City is infested with parking ramps from that era too that most people can't wait to see torn down.
Catch-22s for ISU? Debt load, revenue gaps, NIL and recruiting
- Thread starter DavidGraeberBullSheetJobs
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Honor was bestowed in 2005. Can't hardly name a building of the century until the century is over.
Only for Stevens. The $60M plus in bonds were issued to fund the upgrades in and around Jack Trice Stadium. Having to borrow 75% of funds for those upgrades (which cost $80) is a very bad sign indeed. Iowa only had to borrow about one-third of funds to fund the $90M in upgrades to Kinnick.
And I had to look this up: the $55M new football facility that opened at Iowa seven years back was funded mostly through PRIVATE DONATIONS, and the rest from regular AD revenues. NO LOANS. NO TAX DOLLARS. Impressive.
Here is the source on the above.
So over the last decade, both ISU and Iowa upgraded their facilities.
Iowa spent over $145M and borrowed $30M
ISU spent $80M and borrowed $60M.
Those debt to revenue ratios at ISU just don't look real good, and it's gonna get worse with a much diminished B12.
If I were a parent of a recruit, or a recruit him or herself, I'd be quite wary about which horse I'm betting on and why.
You need to look into that a little more closely. It was named the "building of the century" by the IOWA CHAPTER of the American Institute of Architects. Not Commies. likely ISU grads though.
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By the IOWA CHAPTER of the group nice try. http://historicexhibits.lib.iastate.edu/buildings/cystephens.html
This right here. This will be in the courts for years too. UT and OU will leave after this year and play in the SEC in 2022. They will then negotiate a smaller exit fee.
Anyone know what Maryland paid to the ACC and when they actually settled?
LOL.. That does make a difference. It's a beautiful building, though. Opened with the New York Philharmonic. I've only been inside it once, for Gordon Lightfoot. Have you ever been there?
This is true and why being a parking attendant and bus driver are two of the highest paying jobs on campus.
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Maryland paid $31.3M of $53M (59%)
www.cbssports.com
Texas A&M paid $9.3M out of $28M to $31M fee (~33%):
theeagle.com
Nebraska and Mizzou supposedly paid 47%
Certainly the Big 12 believes this is a litigation risk as well, it’s why the league ultimately settled with Nebraska for $9.25 million and with Colorado for $6.86 million.
That settlement represented 47.6% of the payout that both schools would have owed under the bylaws.
Maryland, ACC settle fight over exit fee; conference will keep $31M
Maryland will pay about $31.3 million in exit fees to the ACC as part of a settlement reached with the conference. The ACC had sought $52 million.
www.cbssports.com
Texas A&M paid $9.3M out of $28M to $31M fee (~33%):
A&M agrees to $12.4 million exit fee for leaving Big 12
The Big 12 Conference will withhold $12.41 million in revenue distribution from Texas A&M to pay for the Aggies’ exit to the Southeastern Conference, officials said Tuesday.
Nebraska and Mizzou supposedly paid 47%
Certainly the Big 12 believes this is a litigation risk as well, it’s why the league ultimately settled with Nebraska for $9.25 million and with Colorado for $6.86 million.
That settlement represented 47.6% of the payout that both schools would have owed under the bylaws.
About what I figured. I would Guess that UT and OU pay about 50% of their exit fee when it is all said and done.Maryland paid $31.3M of $53M (59%)
Maryland, ACC settle fight over exit fee; conference will keep $31M
Maryland will pay about $31.3 million in exit fees to the ACC as part of a settlement reached with the conference. The ACC had sought $52 million.
Texas A&M paid $9.3M out of $28M to $31M fee (~33%):
A&M agrees to $12.4 million exit fee for leaving Big 12
The Big 12 Conference will withhold $12.41 million in revenue distribution from Texas A&M to pay for the Aggies’ exit to the Southeastern Conference, officials said Tuesday.
Nebraska and Mizzou supposedly paid 47%
Certainly the Big 12 believes this is a litigation risk as well, it’s why the league ultimately settled with Nebraska for $9.25 million and with Colorado for $6.86 million.
That settlement represented 47.6% of the payout that both schools would have owed under the bylaws.
I haven't been there because I've heard that there's a ton of deferred maintenance.
80 million each is to leave the Big 12, however the conference will still own Texas and Oklahoma media right until 2025. The 80 million dollars you see reported is put out by the espn talking heads.
Also espn and the 2 universities are potentially liable for damages to fellow conference members. Negotiating with the SEC, without Big 12 knowledge, is violation of the conference's bylaws. I've seen articles state that the sum could be over a billion dollars.
Disney (espn), University of Texas and Oklahoma have deep pockets, how much are they willing to risk in a law suit? Will a judgement be more sympathetic to the remaining 8 or the Disney conglomerate and Texas?
There actions have effectively stopped football playoff expansions for now.
It will take sometime for this to run it course.
Also espn and the 2 universities are potentially liable for damages to fellow conference members. Negotiating with the SEC, without Big 12 knowledge, is violation of the conference's bylaws. I've seen articles state that the sum could be over a billion dollars.
Disney (espn), University of Texas and Oklahoma have deep pockets, how much are they willing to risk in a law suit? Will a judgement be more sympathetic to the remaining 8 or the Disney conglomerate and Texas?
There actions have effectively stopped football playoff expansions for now.
It will take sometime for this to run it course.
Yes. I still wonder why the state needs to be approving money for fine arts projects at the Ag School. Its akin to approving a bovine lactate research center at the University of Iowa. The University of Iowa is the State of Iowa's proprietary (non-land grant) liberal arts institution. CY Stephens looks like an outhouse next to the new Hanccer. . Last time I checked Iowa State was world class in Vetrenary Sciences and has a good engineering school. ISU isn't exactly considered a performing arts school. And now it is stuck with an outdated money pit theater.
That is a reasonable guess. Which would be something like $9M for each of the remaining 8 schools.
A nice little check, but far from the windfall that Cyclone fans are hoping for.
And if something is not done sooner than later, recruiting and retaining coaches will tank.
I just went over to cyclone fanatic. They have these comical stories that they're gonna get $150M to $300M out of UT and OU.
What a ****ing bunch of idiots.
What a ****ing bunch of idiots.
Good luck with that.
It's a shame Disney/ESPN/Texas/OU have such incompetent lawyers that they wouldn't be aware of all the bylaws they were breaking.
Northwestern is a private school so I'm guessing they don't count for his comparison.
Yep. ISU is not much different than Illinois State, Indiana State, or Missouri State. Kansas State is the other school that has been punching above it's means for quite a long time that will have a reset to the level where they should be. Take solace in that ISU won't fall to FCS where Illinois State, Indiana State, and Missouri State reside, though I can make the case the MVFC is a better football conference than the MAC and a few other FBS conferences. ISU will settle in as a mid-major like Colorado State in a non-power FBS conference. Probably exactly where they should have resided all along.
THe discussion wasn't state schools, it was flagship schools. Northwestern is a big university in the largest poplulation center of the state. My point is Iowa should never be compared to Illinois. WHich I think we agree on based on the population differences.
^^^^^^^This seems like the most likely outcome.
Negotiate a somewhat smaller but quicker payment from OU/T and try to rebuild the conference.
Any future big building projects will definitely be put on hold in Ames.
If they are financial ball and chains to the university then we can blame the regents for that along with the money pit called cy stephens
we don't see Illinois BOARD of Regents approving a bonded 80 million dollar stadium expansion for Illinois State, do we?
OK. This is a perfect example of the kind of exaggeration we've seen from Clone fanatics.
Stevens was named the "building of the century" in Iowa, by the IOWA BRANCH of the AIA.
The UI doesn't have an architecture department, though ISU does. Do you think that this voting might have been just a little biased, as most of the practicing architects in the state - and for sure in the DSM/Ames area - are no doubt Cyclone grads and fans?
It's just a circle-jerk of provincial people convincing each other that they're super amazing.
I love the Frank Gehry building on the Iowa river much more, and a building or two on the Drake campus. Stevens in no way deserves that accolade, even in little old Iowa.
Iowa's Hancher, the new Art Building, the new Music Building, and others, won INTERNATIONAL AWARDS, as in among the best dozen or two building in the world when they were built.
My kids have performed in orchestras in Stevens and it does have lovely acoustics. But that whole complex - from Stevens to Hilton to Jack Trice - is a Brutalist concrete mess that reminds me of Minsk. Iowa's old Hancher and the School of Music were the same. I hated it. I was glad when it flooded. Seriously. Iowa made out like bandits from the flood. Well over one billion in new buildings on campus, and in better situations, and much better and more modern and functional - and truly beautiful - designs.
Back to the main topic: ISU has been living WAAAY beyond its means financially, and that's before the Longhorns gored them and the Sooners sunk their future budgets.
They're in deep, deep financial hog wallow right now, which is why all they want to talk about is their current football ranking. The last hurrah.
Just glad the athletic department bought the water tower from the hospital so they could put a logo on it............... 
OSU has a shot at relevance in a power five since the state has about 4MM people and they have had the Pickens money backing them. Maybe they try to get the Pac 12 to take them and someone like BYU to get to 14 members.
WVU will be fine if they convince the ACC to take them. I could see Kansas trying to make a package deal with WVU to join the ACC to put the conference over the top for basketball.
Baylor will be looking to join the AAC. TCU should be in line with Baylor. Texas Tech should be in line with Baylor and TCU. I think two of those teams will get invited and one will be left out in the cold looking to CUSA for help. Maybe Texas Tech tries to partner with OSU on a Pac 12 deal and the other two go AAC.
ISU and KSU need to take a look at Northern Illinois and realize what they are going to be when the dust settles. They are the "younger" brother university in states with light population. They are historically two of the 3 or 4 worst football programs in NCAA history. And even basketball is horrible for KSU while being mostly good for ISU for a few decades. ISU brings nothing to any major conference aside from diluting the payout of the existing members. KSU brings even less. Their best hope is Mountain West membership where they could have a shot at being big dogs in the conference for football and ISU could be in a multi-bid basketball league.
WVU will be fine if they convince the ACC to take them. I could see Kansas trying to make a package deal with WVU to join the ACC to put the conference over the top for basketball.
Baylor will be looking to join the AAC. TCU should be in line with Baylor. Texas Tech should be in line with Baylor and TCU. I think two of those teams will get invited and one will be left out in the cold looking to CUSA for help. Maybe Texas Tech tries to partner with OSU on a Pac 12 deal and the other two go AAC.
ISU and KSU need to take a look at Northern Illinois and realize what they are going to be when the dust settles. They are the "younger" brother university in states with light population. They are historically two of the 3 or 4 worst football programs in NCAA history. And even basketball is horrible for KSU while being mostly good for ISU for a few decades. ISU brings nothing to any major conference aside from diluting the payout of the existing members. KSU brings even less. Their best hope is Mountain West membership where they could have a shot at being big dogs in the conference for football and ISU could be in a multi-bid basketball league.
@DavidGraeberBullSheetJobs you referenced Power4/Power5 but I don't think this can be expounded on enough. If the Big12 loses "Power" status, which I presume they will unless they are able to raid the other Power conferences or ND (which are both very unlikely), they will lose much more than 50% of their new TV contract. We would be talking losing nearly 75% or more. Look at what the other non-Power conferences are getting in their TV deals. It's a pittance compared to Power5. Once this occurs it will snowball in years to come-- they will cease to be able to provide the facilities, get and retain the coaches, and lose out on recruits. They will become the Mountain West.
Everything I just said puts a smile on thy face.
Everything I just said puts a smile on thy face.
Love Gordy! ("if you could read my mind" is one of the most heartbreaking and gorgeous songs ever). Love the NY Phil. But the Cleveland Orchestra is better. Really. Lots of Iowa City connections to Cleveland too through the Preucil School of Music.
I've been to Stevens, and as I said, love the acoustics. Any concert hall that's shaped more like a box is going to be better than typically shaped auditoriums acoustically for unamplified performances. The Musikverein in Vienna or Symphony Hall in Boston are great examples.
Cleveland opened New Hancher five years back. This year, we get to hear Philadelphia Orchestra again, another of the great orchestras of the world.
Analysts have said 50% or more losses for TV, and you might be right with 75%.
Just no way to spin this in any other way than disastrous for ISU, especially considering the debt they already have to service.
