Hello There, Guest! (LoginRegister)

Post Reply 
TB Times: USF approved to take on $200 M in debt over 20 yrs for OCS
Author Message
ArmoredUpKnight Offline
Heisman
*

Posts: 9,833
Joined: Dec 2009
Reputation: 681
I Root For: UCF Knights
Location: Fort Lauderdale, FL
Post: #1
TB Times: USF approved to take on $200 M in debt over 20 yrs for OCS


---

Initial price tag: $340 million
University Funded: $140 million
Seeking Loan: $200 million, 20 years, 5.5% fixed interest rate

Stadium will be 35,000-seat structure

---

Considering the AAC payout is only about $7 million a year...

That's a huge commitment from the University. No one can ever say USF isn't All-In on Athletics anymore.

To me this looks like a Realignment or Bust scenario
(For the record, I am Pro-USF to Big 12 because I enjoy the rivalry

UPDATE: USF BOT approved the $340 million plan
(This post was last modified: 05-24-2023 09:31 PM by ArmoredUpKnight.)
05-17-2023 09:47 AM
Find all posts by this user Quote this message in a reply
Advertisement


Schadenfreude Offline
Professional Tractor Puller
*

Posts: 9,634
Joined: Jun 2003
Reputation: 238
I Root For: Bowling Green
Location: Colorado

CrappiesCrappiesCrappies
Post: #2
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
That is a lot of money.
05-17-2023 09:58 AM
Find all posts by this user Quote this message in a reply
otown Offline
All American
*

Posts: 4,165
Joined: May 2013
Reputation: 255
I Root For: Florida
Location:
Post: #3
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
(05-17-2023 09:47 AM)ArmoredUpKnight Wrote:  

---

Initial price tag: $340 million
University Funded: $140 million
Seeking Loan: $200 million, 20 years, 5.5% fixed interest rate

Stadium will be 35,000-seat structure

---

Considering the AAC payout is only about $7 million a year...

That's a huge commitment from the University. No one can ever say USF isn't All-In on Athletics anymore.

Its actually 5.5% fixed 20 years. First 3 years interest only. So the payments for the remaining 17 years is $1.522 million monthly.....comes out to an annual commitment of $18.264 million. That is a lot of red considering the AAC payout money. Maybe they make it up on the gate, which is only possible if they have great attendance. Of note, they will no longer be able to schedule ND or Alabama etc considering it is an on campus 35,000 seat stadium and not Ray Jay anymore.
(This post was last modified: 05-17-2023 10:06 AM by otown.)
05-17-2023 10:06 AM
Find all posts by this user Quote this message in a reply
Big Frog II Offline
1st String
*

Posts: 2,015
Joined: Nov 2010
Reputation: 116
I Root For: TCU
Location:
Post: #4
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
They better be able to sell a number of suites and club seats to make this stadium pay for itself.
05-17-2023 10:09 AM
Find all posts by this user Quote this message in a reply
Schadenfreude Offline
Professional Tractor Puller
*

Posts: 9,634
Joined: Jun 2003
Reputation: 238
I Root For: Bowling Green
Location: Colorado

CrappiesCrappiesCrappies
Post: #5
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
(05-17-2023 10:06 AM)otown Wrote:  Of note, they will no longer be able to schedule ND or Alabama etc considering it is an on campus 35,000 seat stadium and not Ray Jay anymore.

Cincinnati occasionally plays games off campus in the local NFL stadium. I imagine South Florida could do the same.
05-17-2023 10:09 AM
Find all posts by this user Quote this message in a reply
b2b Offline
Heisman
*

Posts: 5,596
Joined: May 2021
Reputation: 686
I Root For: My Family + ECU
Location: Land of Confusion
Post: #6
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
15-20 years too late.
05-17-2023 10:10 AM
Find all posts by this user Quote this message in a reply
Advertisement


EigenEagle Offline
Hall of Famer
*

Posts: 10,216
Joined: May 2014
Reputation: 643
I Root For: Ga Southern
Location:
Post: #7
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
There's a school that got too comfortable with themselves in the late aughts and has now watched their main rival leave them for a tweener conference.
05-17-2023 10:13 AM
Find all posts by this user Quote this message in a reply
ArmoredUpKnight Offline
Heisman
*

Posts: 9,833
Joined: Dec 2009
Reputation: 681
I Root For: UCF Knights
Location: Fort Lauderdale, FL
Post: #8
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
Maybe I was a little unfair in the OP.

USF fans on Twitter have correctly pointed out there will also be revenue generated:
- Stadium Naming Rights
- Season ticket sales
- Premium Seating and Club Access
- Concessions
- In-Stadium Advertising
- Parking

Its not entirely dependent on the AAC payout to pay for the stadium. There are still all the regular Athletic Operating Expenses too.

In my opinion, and I may be wrong, but USF needs to jump to P5 in order to pay off the load via the Athletic Department.

Also, probably an unpopular opinion, Its completely understandable if the University decides not to charge back the Athletic Department in today's market. USF the University is good for it. Investing in your Athletics shouldn't be frowned upon.
(This post was last modified: 05-17-2023 10:30 AM by ArmoredUpKnight.)
05-17-2023 10:24 AM
Find all posts by this user Quote this message in a reply
otown Offline
All American
*

Posts: 4,165
Joined: May 2013
Reputation: 255
I Root For: Florida
Location:
Post: #9
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
(05-17-2023 10:13 AM)EigenEagle Wrote:  There's a school that got too comfortable with themselves in the late aughts and has now watched their main rival leave them for a tweener conference.

Yep, while USF is still stuck in the strongest G5 conference........ 07-coffee3
(This post was last modified: 05-17-2023 10:25 AM by otown.)
05-17-2023 10:25 AM
Find all posts by this user Quote this message in a reply
goodknightfl Offline
Hall of Famer
*

Posts: 21,107
Joined: Feb 2004
Reputation: 499
I Root For:
Location:
Post: #10
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
The stadium will raise a lot of money, and rent on RJ stadium will be gone. All parking and food/beverage $$ will be kept in house. I expect they will be ok.
05-17-2023 10:29 AM
Find all posts by this user Quote this message in a reply
BullsFanInTX Offline
Hall of Famer
*

Posts: 10,485
Joined: May 2008
Reputation: 338
I Root For: USF
Location:
Post: #11
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
Construction is supposed to start this year. Super quick timeline.
05-17-2023 10:39 AM
Find all posts by this user Quote this message in a reply
Advertisement


Bluedevil16 Offline
2nd String
*

Posts: 262
Joined: May 2021
Reputation: 13
I Root For: Duke
Location:
Post: #12
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
If they go P5 is 35k the right size for them?
05-17-2023 10:49 AM
Find all posts by this user Quote this message in a reply
IWokeUpLikeThis Offline
Hall of Famer
*

Posts: 13,726
Joined: Jul 2014
Reputation: 1434
I Root For: NIU, Chicago St
Location:
Post: #13
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
(05-17-2023 10:49 AM)Bluedevil16 Wrote:  If they go P5 is 35k the right size for them?

Yes, SDSU is the same. Sports attendance has been declining nationwide since 2008. Just make it the most premium experience for as many of those 35k seats as possible so it's higher revenue.
05-17-2023 10:53 AM
Find all posts by this user Quote this message in a reply
otown Offline
All American
*

Posts: 4,165
Joined: May 2013
Reputation: 255
I Root For: Florida
Location:
Post: #14
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
So the big question is..........
USF has the following at home OOC games 2026 and beyond:
2027 Louisville (doubt they would care)
2029 Notre Dame (they will probably force Ray Jay or buy out the game)
2029 NC State (probably stays in OCS)
(This post was last modified: 05-17-2023 11:20 AM by otown.)
05-17-2023 11:11 AM
Find all posts by this user Quote this message in a reply
BullsFanInTX Offline
Hall of Famer
*

Posts: 10,485
Joined: May 2008
Reputation: 338
I Root For: USF
Location:
Post: #15
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
(05-17-2023 11:11 AM)otown Wrote:  Does USF have any marquee (ie Alabama, Florida, Miami, ND) OOC games scheduled in 2026 or later in Tampa? If they do, will they be played at Ray Jay or in the new stadium?

2027 Home vs Louisville
2029 Home vs. NC State and Notre Dame


USF has home gaves vs. Alabama and Miami between now and 2026. These will be played at RJS.

As of right now, the stadium will be opened with FIU.
05-17-2023 11:18 AM
Find all posts by this user Quote this message in a reply
esayem Offline
Hark The Sound!
*

Posts: 16,247
Joined: Feb 2007
Reputation: 1202
I Root For: Olde Ironclad
Location: Tobacco Road
Post: #16
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
Good for the South Florida Golden Brahman!
05-17-2023 11:19 AM
Find all posts by this user Quote this message in a reply
Advertisement


otown Offline
All American
*

Posts: 4,165
Joined: May 2013
Reputation: 255
I Root For: Florida
Location:
Post: #17
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
(05-17-2023 11:18 AM)BullsFanInTX Wrote:  
(05-17-2023 11:11 AM)otown Wrote:  Does USF have any marquee (ie Alabama, Florida, Miami, ND) OOC games scheduled in 2026 or later in Tampa? If they do, will they be played at Ray Jay or in the new stadium?

2027 Home vs Louisville
2029 Home vs. NC State and Notre Dame


USF has home gaves vs. Alabama and Miami between now and 2026. These will be played at RJS.

As of right now, the stadium will be opened with FIU.

The only team I see that will make it a deal breaker is ND. I cannot see them agreeing to the venue change........
05-17-2023 11:20 AM
Find all posts by this user Quote this message in a reply
BullsFanInTX Offline
Hall of Famer
*

Posts: 10,485
Joined: May 2008
Reputation: 338
I Root For: USF
Location:
Post: #18
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
(05-17-2023 10:49 AM)Bluedevil16 Wrote:  If they go P5 is 35k the right size for them?

Based on San Diego State, this won't hurt USF.

At 340M, this will be the nicest new OCS built recently. As good or better than SDSU and Colo St.
05-17-2023 11:21 AM
Find all posts by this user Quote this message in a reply
BullsFanInTX Offline
Hall of Famer
*

Posts: 10,485
Joined: May 2008
Reputation: 338
I Root For: USF
Location:
Post: #19
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
(05-17-2023 11:20 AM)otown Wrote:  
(05-17-2023 11:18 AM)BullsFanInTX Wrote:  
(05-17-2023 11:11 AM)otown Wrote:  Does USF have any marquee (ie Alabama, Florida, Miami, ND) OOC games scheduled in 2026 or later in Tampa? If they do, will they be played at Ray Jay or in the new stadium?

2027 Home vs Louisville
2029 Home vs. NC State and Notre Dame


USF has home gaves vs. Alabama and Miami between now and 2026. These will be played at RJS.

As of right now, the stadium will be opened with FIU.

The only team I see that will make it a deal breaker is ND. I cannot see them agreeing to the venue change........

Maybe so. Personally, I don't care if the one off game like this is moved to RJS.
05-17-2023 11:22 AM
Find all posts by this user Quote this message in a reply
Kyle Mack Offline
Banned

Posts: 2,746
Joined: Apr 2021
I Root For: Cincinnati Bearcats
Location:
Post: #20
RE: TB Times: USF will seek approval to take on $200 M in debt over 20 yrs for OCS
Great news for USF fans!
05-17-2023 11:24 AM
Find all posts by this user Quote this message in a reply
Post Reply 




User(s) browsing this thread: 1 Guest(s)


Copyright © 2002-2024 Collegiate Sports Nation Bulletin Board System (CSNbbs), All Rights Reserved.
CSNbbs is an independent fan site and is in no way affiliated to the NCAA or any of the schools and conferences it represents.
This site monetizes links. FTC Disclosure.
We allow third-party companies to serve ads and/or collect certain anonymous information when you visit our web site. These companies may use non-personally identifiable information (e.g., click stream information, browser type, time and date, subject of advertisements clicked or scrolled over) during your visits to this and other Web sites in order to provide advertisements about goods and services likely to be of greater interest to you. These companies typically use a cookie or third party web beacon to collect this information. To learn more about this behavioral advertising practice or to opt-out of this type of advertising, you can visit http://www.networkadvertising.org.
Powered By MyBB, © 2002-2024 MyBB Group.