(06-10-2017 12:18 AM)_C2_ Wrote:  

(06-10-2017 12:07 AM)ColKurtz Wrote:  Want to know why the California system is increasingly hoovering high-tuition out of state students? Look no further than Cal's stadium renovation financial mismanagement:

"The school was going to take on a bonded debt of $445 million for the $474 million project, hoping to pay it back by selling 50-year rights to season tickets for hundreds of thousands of dollars. ... By June 2011, only 49 of the 3,000 long-term seats had been sold.

Cal tried to pivot away from the seat selling plan by 2013, but by that point, a gaping budget shortfall was staring them in the face, and that was just from paying off the debt.

The Bears now owe at least $18 million per year in interest-only payments on the stadium debt. Payments will increase to $37 million per year in 2039 ... Berkeley will owe $81 million in 2053."

http://deadspin.com/cal-is-******-becaus...1795896858

Maybe it's time to get those conditions changed and let the Raiders move in...too late...

Berkeley and the Raiders don't mix, as a decade long court case illustrated.
http://berkeleycitizensaction.org/?page_id=426