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I wouldn't oppose Dollar Tree Stadium

(07-31-2014 06:21 PM)Sirloin Burger Wrote:  

(07-31-2014 06:04 PM)ODU2K1 Wrote:  

(07-31-2014 05:16 PM)Sirloin Burger Wrote:  Naming rights are the decision of the school of course. So far the Ted has been spared. They can either honor someone or name it after the highest bidder. My guess is ODU will whore it out instead of honoring someone responsible for building our football program from the ground up.

You do realize that The Ted is named that to honor the $5 million gift Ted Constant made to get University Village project started. Without the Village project moving forward there would be no Ted.

Foreman 2.0 may very well have a persons name on it but someone will have paid handsomely for the privilege to name it.

Ted Constant's donatations date back to the 70's. He's not some guy who paid a million bucks for the sole purpose of having his name on a building and I don't believe he ever asked for that honor. He has contributed to the Norfolk community and to ODU for decades.

The former owner of Norfolk Beverage Co., Ted Constant is a longtime supporter of Old Dominion University's Intercollegiate Foundation and Big Blue Club, and he frequently attends both Monarch and Lady Monarch basketball games.

Ted Constant did indeed contribute to ODU before he made a $5M contribution to ODU for the basketball arena. Believe what you will, but it was indeed known that the arena now called as the Ted would be named after the contributor who chose to give that or a sililar amount of money.

Someone had mentioned ..... "NSU has a 30,000 seat stadium named after a person. Go call them idiotic and tell them to get with the real world. Joe Aillet Stadium at Louisiana Tech? How idiotic is that? Johnny "Red" Floyd Stadium/Horace Jones Field at Middle Tennessee State? Get with the program MTSU, it's the wave of the future".

The world has changed dramatically in the last 17-20 years. When NSU built the 30,000 seat Dick Price Stadium it cost 12 million dollars and 80% of the funding was through the state of Virginia and I understand this was a grant provision to build the new stadium. There were other funds involved in the construction but even in 1997 dollars the price was small in comparison to what construction cost will be in 2017. Therefore there was no need at that time for NSU to even consider a contractual name endowment or donation.

As for LA Tech, their stadium was originally named Louisiana Tech Stadium in 1968 with a capacity of 23,000 and reamed Joe Aillet Stadium in 1972. The stadium cost less to build than the cost of renovations and upgrades. Again funds were dramatically lower 40 years ago.

MTSU’s stadium opened its doors on October 14, 1933. Originally built as two sideline grandstands on each side of an outdoor track, it was enlarged in 1940, 1960, 1968, and most recently in 1998 to bring it to its current configuration as an octagonal bowl. Could not find the original cost but had approximately 30 million in upgrades over the years. In 1968 was re-named Johnny "Red" Floyd Stadium/Horace Jones Field. On August 24, 1995, the University announced plans for a $25 million renovation, which was approved by the State Building Commission. After a lengthy bid process, ground was officially broken for the stadium in January 1997 with Turner Construction handling the project. Upon completion, the stadium capacity became the current 30,788.

It is almost impossible to compare building a stadium in 2017 to those examples.

Baylor’s new 45,000 seat stadium has a price tag of 250 million dollars and has announced a sizable financial gift from Bear alum and former Houston Astros owner Drayton McLane Jr. Not sure how much by they are contractually looking for naming rights for parking garages, concourse level suites, stairwell plagues, premium seating naming rights. They are naming every part of the stadium after FINANCIAL Donors.

Houston will play its first game in a brand new Texas Dow Employees Credit Union Stadium. Texas Dow Employees Credit Union Buys Naming Rights to UH's New Football Stadium in $15M, 10-Year Deal. The 40,000 seat stadium will feature 26 premium suites. We will have a chance to see the new stadium when the Cougars host UT-San Antonio on Friday, August 29, on ESPNU. Houston announced that they had received the largest single donation for the stadium when co-CEO and co-founders of Austin-based Data Foundry, Ron and Carolyn Yokubaitis, also a contractual naming for donators. TDECU Stadium will contain a plaza area recognizing significant historical figures in Houston football outside the northeast entrance details are forthcoming, but the Legends Plaza concourse is expected to include a tribute to Hall of Fame players and coaches. The are currently accepting donations for naming every breakdown of the stadium you can parcel out. It appears it is a 10 year option for 20 year naming rights of 5-10 million each year to carry the name. Over 20 years with just 7 million you are looking at 140 million. With all the other naming right ventures their donations will carry the cost of construction. Sounds like a smart business decision to me.

If ODU were fortunate enough to get a multiyear naming rights partnership that pays 5 million a year for 20 years (100 million) that would almost pay for the stadium's financing. If you combine that with other name rights for parking garages, concourses, concession areas and whatever else, I would be ecstatic.

Just my 2 cent

Someone mentioned, "the world has changed dramatically in the last 17-20 years."

Yep, I read wiki too before making that post. I'm fully aware of their stadium history. But, NSU, La Tech and MTSU continue to incur costs from their football operations. MTSU paid $25 million for renovations. VT paid $52 million for their press box renovation. That doesn't include the cost of the end zone expansion. No naming rights to recuperate the costs? Stanford also built a new stadium at a cost of $100 million. It's still called Stanford Stadium. Don't they want to make new revenue off naming rights?

You failed to mention that "Ron Yokubaitis is an alumnus of the University of Houston and former Cougars football player". He has a personal interest in the growth of the program that he was a part of thus his donation. Was he doing this just to advertise his company on the stadium. Probably not. Ted Constant had a vested interest in the growth of ODU athletics as well. And that came first. The naming part was the BOV's doing.

S. B. Ballard has served the Hampton Roads community for several decades and has built several ODU facilities including the Ted Constant Center. I wouldn't be surprised if his name appears on the the new stadium.

Can anyone tell me how involved Dollar Tree is with the community and the growth of ODU?

Can it be named after someone for his or her body of work sans a significant donation?

Monarch Bank Stadium

Maybe just maybe for the right Donor, Corporation or Company with the financial ability to make a sizable contribution we can make it appealing to give back to the University or assist us in making a vision for the new stadium a reality faster.

There are very attractive strategic tax investment incentives with compounding fund diversifications that could save millions. The initial or target contribution, let’s say $100 million parceled out over a 20 or 30 year tiered donation platform could save hug tax dollars in the form of yearly deductions and tax credits for the right Corporation. In real dollars, depending on the net worth of the investor/donor/contributor it could be accomplished. Dollar averaging the donation over 20 years and parceling out the amount of the donation in bonds, municipal investments and with strategic long term planning this could be a good way to attract the larger Corporations in the Hampton Roads area.

In simple terms and as an example, $100 million over 20 years would equal a $5 million dollar donation each year. The $100 million invested in State Municipal Bonds (I am not endorsing any particular funds), but the fact is the USAA Virginia Bond Fund has averaged over 6.8% returns each of the last three years. Even over the past decade it has a return of almost 5% per year. If you use that number alone for compounded returns on the $100 million it would be in excess of the $5 million that would be donated on the yearly parcel donation. The fact that funds can also be packaged as State municipal bond funds it could be tax free, and could equate out in real dollars for the amount of the donation or more and would in practical terms have little impact on the donor/investor. Statistically at the end of the 20 years of the initial investment of $100 million the original investment is still held by the Corporation and the $5 million each year could be an offset to income from other income of the corporation.

If the cost of the stadium is $150 million and we could get more than one corporate partner it could pay the cost of the stadium over a 20 year period @ (two donors: $200 Million - $10 million a year).

I am sure there are many more creative and financial strategies that could be packaged for the right corporate donor. Individuals would have to be structured differently, but the right financial wizards are out there and can make amazing things happen. I hope we are looking at these avenues and I am sure they are.

With that said I would gladly call the new stadium, Whatever or whoever to honor them for their faith in ODU.

(07-31-2014 05:16 PM)Sirloin Burger Wrote:  

(07-31-2014 03:57 PM)Razor Ramon Monarch Wrote:  I've never owned a vt hoody in my life.

Your silly examples prove nothing at all, but I can't tell you if are honestly that dumb and really think that you made some salient point or if you're just trolling as usual.

Nsu and jmu are playing fcs football. La tech and midd tenn st. Aren't exactly in giant economic hubs where stadium naming options exist.

Again, you conveniently ignore the part about who will fund this stadium and why this is a bad idea at all. You are adding nothing to this conversion as per usual.

You were photo'd with your "girlfriend" wearing a VT Hoody. You posted the photo on championship subdivision during one of your patented rants.

So it's not the wave of the future then. Only those in large markets with FBS programs.

I think I made my point without much effort. Not everyone thinks naming rights is a "necessary evil". Of course I can't name ever school that agrees with my point of view. I showed a list of schools that have secured naming rights to their facilities. In this link, the guy who compiled it only came up with 11 schools with naming rights to their football stadiums. In that list, the amount paid and duration is pretty much a token gesture to the actual cost of a football operation. A naming rights fee will not cover the cost of funding a stadium like you suggest. The only thing it will do is pay for a handful of operation costs and more importantly deface our sacred building with someone's trademark on it. Dollar Tree Stadium. lol

NSU is in a large market. Whether or not NSU plays FCS, its stadium cost money to build and maintain. Their football program isn't free either. They could whore it out or honor someone. They chose to honor someone. MTSU is 35 miles away from Nashville. Approximately the same distance from VB to NN. I'm sure their games will be broadcasted in that market. They too chose to honor someone as well. JMU's stadium cost money too. Their games have been broadcasted in large markets.

My hope is ODU will honor someone who was dedicated in building this football program. It's important that future generations of ODU football fans remember how this all started. For most institutes of higher learning, it's an honored tradition.

Naming rights are the decision of the school of course. So far the Ted has been spared. They can either honor someone or name it after the highest bidder. My guess is ODU will whore it out instead of honoring someone responsible for building our football program from the ground up.

It's really quite sad you have no understanding of sports economics at all.

I never once claimed it would "cover the costs". Yet another asinine straw man argument.

But if it helps take some of the burden off students , again, I'm all for it. Since you never actually attended odu and paid no student fees, your opinion on this subject, as it is on just about every other subject, is absolutely meaningless.

You don't even buy season tickets. You have nothing to add other than your cheap notion of what a school should or shouldn't do.

As a young up and coming program, we have the chance to do something different. We aren't beholden to any ghosts of our past like some bcs schools, and as such, we can use this new stadium opportunity to both build our brand and acquire money for our fledgling football program.

I know this is hard for you to process, but when we decided to play fbs football, we were forced to upgrade the number of scholarships and our travel budget significantly. Who knows if we will be operating in the black (on the back of massive student fees no less) in a few years if we are struggling.

By locking in a stadium naming rights deal now, at the peak of our popularity and "newness", we can guarantee a solid revenue stream that will help with all sorts of projects and funding issues which fbs teams have.

Again, I'm not surprised the guy who continually called wilder a "p.ssy" for not playing schools like Alabama, never went to odu, doesn't understand student fees and their crippling cost to the average college student, doesn't own season tickets and generally contributes nothing of value to this board doesn't get it. Not in the least.

lol, You tell me the same thing over and over again. I never went to ODU, I never bought season tickets, I root for VT. Why do you continually respond to someone who you say brings nothing to the discussion? Well, word is you never graduated from ODU and never bought football season tickets.

From your bleak point of view, maybe ODU should have remained in the FCS and lived within its means. Maybe we should look at our athletic budget. The majority of CUSA schools have less sports programs than we do. I think there's a fiscal reason for that. We have 18 sports and adding a 19th.

You said that a naming rights agreement will get the stadium construction started sooner. Who the hell is going to put that much up front? Our stadium will cost at minimum $80 to 100 million. Some here are hopeful that this naming rights thing will be lucrative. FAU only got $500,000 for 12 years from an alum. They were hoping for $1 million a year. The stadium cost $70 million and they got their naming rights 2 years after the stadium opened. Pretty poor for a school in the 16th ranked DMA with 5 Fortune 500 companies and a string of major companies with headquarters there. What ODU alum has the millions to get this done? What local corporation is willing to commit millions annually? The word is out that we need to build a stadium. Do we have any potential candidates right now?

I still hope the stadium will be named after a person or persons involved in the rebirth of ODU football. Wilder Stadium? Broderick Stadium? Runte Stadium? Selig Stadium? After reviewing athletic facilities from other schools, it appears that the majority are named after longtime benefactors and persons within the university. Most of them are named after people. Some of those honored never donated a cent.

The new field and stadium will be named separately. Bobby Wilder Field @ Five Guys Stadium. What an honor.

(07-31-2014 10:58 PM)ODU Oldtimer Wrote:  Maybe just maybe for the right Donor, Corporation or Company with the financial ability to make a sizable contribution we can make it appealing to give back to the University or assist us in making a vision for the new stadium a reality faster.

There are very attractive strategic tax investment incentives with compounding fund diversifications that could save millions. The initial or target contribution, let’s say $100 million parceled out over a 20 or 30 year tiered donation platform could save hug tax dollars in the form of yearly deductions and tax credits for the right Corporation. In real dollars, depending on the net worth of the investor/donor/contributor it could be accomplished. Dollar averaging the donation over 20 years and parceling out the amount of the donation in bonds, municipal investments and with strategic long term planning this could be a good way to attract the larger Corporations in the Hampton Roads area.

In simple terms and as an example, $100 million over 20 years would equal a $5 million dollar donation each year. The $100 million invested in State Municipal Bonds (I am not endorsing any particular funds), but the fact is the USAA Virginia Bond Fund has averaged over 6.8% returns each of the last three years. Even over the past decade it has a return of almost 5% per year. If you use that number alone for compounded returns on the $100 million it would be in excess of the $5 million that would be donated on the yearly parcel donation. The fact that funds can also be packaged as State municipal bond funds it could be tax free, and could equate out in real dollars for the amount of the donation or more and would in practical terms have little impact on the donor/investor. Statistically at the end of the 20 years of the initial investment of $100 million the original investment is still held by the Corporation and the $5 million each year could be an offset to income from other income of the corporation.

If the cost of the stadium is $150 million and we could get more than one corporate partner it could pay the cost of the stadium over a 20 year period @ (two donors: $200 Million - $10 million a year).

I am sure there are many more creative and financial strategies that could be packaged for the right corporate donor. Individuals would have to be structured differently, but the right financial wizards are out there and can make amazing things happen. I hope we are looking at these avenues and I am sure they are.

With that said I would gladly call the new stadium, Whatever or whoever to honor them for their faith in ODU.

Love the enthusiasm OT, but the money for stadium naming rights just isn't what it used to be. Charlotte received $15 million for their new stadium from Jerry Richardson, and they were initially only seeking $5 million. I think we'll reasonably see something in the $10 million range. We will likely be able to increase our sponsorship opportunities with more advertising space in and around the new stadium.

Not to worry everybody. We will pay for it with Virginia Lottery first downs and Pepsi blue zone penetrations.

Maybe we can get Spivey to sponsor the Visiting team locker room. That made me laught, just to dam funny.

I think that we all agree that ODU needs a new stadium. The facts of life are that somebody will have to pay for it, who's that gonna be? The students? The taxpayers?

We can relieve the burden on the students and the tax payers of Virginia by soliciting donations; we have things that we can exchange for large donations, one of which is naming of various stands, the field, end zone facilities and the stadium itself. For somewhere between one dollar and the cost of the entire stadium there is a figure that the administration will accept for naming rights, where is that number? I'm not sure, but it does exist and will vary depending on a number of factors.

It would be great to name the stadium after an important ODU figure, but can we do that if it loses us 500k-1m per year? I really don't think we can.

Here's why I was told they started naming subs after states instead of dead presidents...cause dead presidents don't vote. They name subs after states and cities arcoss the USA to help in getting votes and support.

Don't forget the slamma jamma ding dong Jacked up Sacks! (which are my favorite by the way)

(08-01-2014 09:03 AM)ODU AGGIE Wrote:  Not to worry everybody. We will pay for it with Virginia Lottery first downs and Pepsi blue zone penetrations.

I hope our new stadium will not be along the lines of Norfolk State. I know they have a 30K stadium, but it doesn't feel like it when your at a game there. I guess because I've never been there when it is full. Also, cheap aluminum bleachers.

(08-01-2014 08:18 PM)TedHead Wrote:  I hope our new stadium will not be along the lines of Norfolk State. I know they have a 30K stadium, but it doesn't feel like it when your at a game there. I guess because I've never been there when it is full. Also, cheap aluminum bleachers.

There is zero chance our brand new stadium is anything even remotely like dick price stadium.

We are most likely paying 5 times as much for it, so we will definitely get a vastly superior stadium.

Although granted, in this day and age, a dollar doesn't go nearly as far as it did back when that stadium was built.

I think it will be extremely similar to FAU's but with a closed loop.

(08-02-2014 02:56 AM)Monarch_Pride Wrote:  I think it will be extremely similar to FAU's but with a closed loop.

I agree. I think ODU is using FAU's stadium as something of a model. As for naming rights to ODU's new stadium, since we will be viewed as whores (at leaset by one fan) we should seek an agreement with Hoegaarden.

FAU - Take away the seats, add bleachers, and the large press area...that's just like Dick Price stadium. I don't think so.

Like RR said... a buck doesn't go as far these days. Aluminum is far cheaper than concrete - and FAU paid over 44 million for their stadium.