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South Alabama on-campus football stadium moving closer to reality
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hooverblazer Offline
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Post: #21
RE: South Alabama on-campus football stadium moving closer to reality
Speaking of stadiums, where do things stand on the BJCC project? I know they selected the bond team so I guess the next step is going to the market to issue bonds (hopefully soon)?
06-02-2018 04:29 PM
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Tom in Lazybrook Offline
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Post: #22
RE: South Alabama on-campus football stadium moving closer to reality
(06-02-2018 08:57 AM)UABslant Wrote:  So USA's BOT unanimously supports the stadium and has given the ok for the president to seek bids for construction, the pics of the stadium have been released, but funding has still not been secured. They plan for it to be done by the 2020 season, but are counting on city and county financial support that has not been secured... basically, egg will be on the elected officials faces if the funding isn't in secured... wonder if there will be a heated, 8-hr debate in the Mobile city council over funding USA's stadium?

You are correct that financing has not be designated. But the USA Board didn't just get kicked in the head. This isn't much of a reach. They've already reached out to the individual City Councilmembers and County Commissioners and would be idiots to move forward unless they had financing secured.

Here's the plan that I see developing.

1) The University will give the land and the initial outlay for the stadium
2) The City/County will finance much of the debt service and retain some rights to usage
3) The Go Daddy Bowl is on board. The Senior Bowl is probably on board. Neither are controlled by ESPN.
4) No increases in student fees or tuition based subsidies will be used.
5) The ownership will be shared, but the University will hold the lions share of the votes on the Stadium board and it will be on USA's campus.

Now, you might ask...why would the City/County agree to finance this stadium? Because it solves a few problems for them. Currently, they're paying 100 percent of the upkeep on a 70 year old rotting shell of a stadium that is basically for the sole benefit of a couple of high schools in one of Mobile County's four school systems. The facility is woefully inadequate for any other purpose. And unlike Ladd, an investment in a stadium at USA would involve a fixed term debt service, rather than an open ended commitment like at Ladd. The Senior Bowl is thinking about leaving as a result of the bad facilities (and with you guys getting a new stadium - it would have been another close by place to move to).

The University has enough money to easily finance this by themselves. But USA is cautious in pretty much all things.

Basically, the City, the County, and the University have needs that align. The City and County need access to a facility that is appropriate for modern day events, the University wants a little help with a OCS, and therefore, a deal gets done. At least that's the thinking.

There will probably be a 'heated debate' on this (or what passes for one down here). But generally, things work a bit differently in Mobile. Alabama and Auburn are fanatically supported here too....but they're the better part of a day's drive away. And everyone recognizes the value of USA to the local economy. Even people who wear houndstooth to church. People try to operate on consensus down here. Politically in SW Alabama, especially in Mobile County/City, it would be political suicide to do anything deemed harmful to USA.

Its not a done deal, but they wouldn't be putting it up unless they felt they had the votes on council and on the commission.

----

Ladd will be either given to the Mobile County School Board (which says it doesn't want it), or torn down. Probably around 2022 or so.
(This post was last modified: 06-03-2018 10:08 AM by Tom in Lazybrook.)
06-03-2018 09:54 AM
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