Beaver Stadium $25 million donation (Edited to add another 10 million) (Edited again for another 10 million)
- Thread starter PSUJam
- Start date
Would be nice for someone in the position to donate 10 million to use their naming rights to change the address of the stadium to "409 Paterno Way".....
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At $10mm, it wouldn't happen. The ante would have to be raised considerably to make Neels squirm.Quite the dilemma that would be in halls of Old Main.
I’d be doing more than that, we’d also see Erickson’s name come off our Food Science Building…,
Another $5mm gift since @PSUJam is asleep.....
www.on3.com
Penn State breaks $60 million Beaver Stadium renovation fundraising mark with new $5 million donation
Penn State Athletics announced a seven-figure donation for its Beaver Stadium renovation project on Tuesday morning.
Another $5mm gift since @PSUJam is asleep.....
Penn State breaks $60 million Beaver Stadium renovation fundraising mark with new $5 million donation
Penn State Athletics announced a seven-figure donation for its Beaver Stadium renovation project on Tuesday morning.
You haven't lived until you've held hands, forming a complete circle and pissing in unity in the cocktagonBut we still have the “Cocktagon”!
Cost of doing business.Another $5mm gift since @PSUJam is asleep.....
Penn State breaks $60 million Beaver Stadium renovation fundraising mark with new $5 million donation
Penn State Athletics announced a seven-figure donation for its Beaver Stadium renovation project on Tuesday morning.
Another $5mm gift since @PSUJam is asleep.....
Penn State breaks $60 million Beaver Stadium renovation fundraising mark with new $5 million donation
Penn State Athletics announced a seven-figure donation for its Beaver Stadium renovation project on Tuesday morning.
60.25/700 = 8.6%
Almost there!
Bob,60.25/700 = 8.6%
Almost there!
You're forgetting the $500 mill in interest that is added to the loan.
Very generous. From other posts I was under the impression fund raising would be in the toilet since the "old guard" whales were pouting. Maybe their influence isn't what some think it is.Another $5mm gift since @PSUJam is asleep.....
Penn State breaks $60 million Beaver Stadium renovation fundraising mark with new $5 million donation
Penn State Athletics announced a seven-figure donation for its Beaver Stadium renovation project on Tuesday morning.
A company PSU signed a 15 year contract with donating $5M for the stadium? Certainly no potential for conflicts of interest in these transactions at all! This is an odd one to announce publicly.Another $5mm gift since @PSUJam is asleep.....
Penn State breaks $60 million Beaver Stadium renovation fundraising mark with new $5 million donation
Penn State Athletics announced a seven-figure donation for its Beaver Stadium renovation project on Tuesday morning.
Did you read the announcement?
"a new $5 million donation from Berwyn, Pa., based sports media, marketing and technology company PlayFly Sports. If the name of that business sounds familiar, it’s because it entered into a 15-year multimedia rights agreement with the university in January of 2023."
Someone smarter than me want to tell me how this accounting works? ****, should just have sold our rights to ourselves and saved ourselves the middleman amirite?
Jeeze, wonder if the contract details were available to all trustees or just the ones that alumni can't elect?
I read the announcement. The source of the donation doesn’t matter. The money spends the same and is separate from multimedia deal.
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Is it a donation or did PlayFly just gross up its fee and kick back $5mm to PSU, like that's never happened anywhere else.?Perhaps there is a reason that PSU switched horses from the biggest in the business to a relative newbie.
Everybody pat yourself on the back for this contribution. LOL.
This creates an immediate perception that PSU potentially could have awarded a contract to this company in exchange for a $5M "donation." It took my brain approximately 10 seconds to make that connection. I believe such an agreement would be illegal. Even if everything in both transactions was 100% legit, it creates a perception of possible handshake agreements. I am stunned they made this donation public, that seems like a really stupid decision. If you're going to accept their money, which probably is questionable to begin with based on perception alone, then at least announce it as an anonymous gift.
Sure doesn't help perceptions when certain elements of the BoT withhold scrutiny of the contact from other members.
Suddenly, last year's Pepsi contract extension seems like a missed
$5 MM? Pfft. We’re trending downward.
No renderings were released of what it will look like. But, a news release described it as follows:
“The Marzano Club will offer a tremendous game day experience and will be a hub of campus and community activities on non-game days. This space will be one of the premier event spaces in all of Pennsylvania, filling a critical need for both the University community and the Centre Region.”
Competition for the new art museum. Which place will serve better onion dip?
No renderings were released of what it will look like. But, a news release described it as follows:
“The Marzano Club will offer a tremendous game day experience and will be a hub of campus and community activities on non-game days. This space will be one of the premier event spaces in all of Pennsylvania, filling a critical need for both the University community and the Centre Region.”
$5 MM? Pfft. We’re trending downward.
Just Think: with this amount of money, PSU would have been able to build a Sandy Barbour wading pool building!
Link:
Texas Athletics surpasses $1 billion in fundraising (swimswam.com)
'The University of Texas athletic department announced it has raised over a billion dollars in capital.
The billion dollar mark was the department goal as part of the University’s “What Starts Here” fundraising campaign. Publicly launched in March 2022, What Starts Here has an overall capital fundraising goal of 7 billion.
“This marks one of the largest, if not the single largest, campaign total for any athletics program in the nation,” reads the Longhorn Athletics website.
The Longhorns are leaders in athletic finances by several other metrics as well. In 2023, the athletic department reported $273 million in revenue, a record among NCAA schools.
In the swimming world, new Texas Director of Swimming & Diving Bob Bowman has the largest compensation base and ceiling in the NCAA swimming world. His base salary starts at $450,000, and he could receive up to $1.7 million in performance-based bonuses in the next six years.
Demand plays a big role in this compensation level. Bowman is one of the world’s most prolific swim coaches, coaching names such as Michael Phelps, Allison Schmitt, and Léon Marchand to dozens of Olympic medals. He also has head coaching experience at two other Power Five NCAA programs. This year, he coached Arizona State to a men’s NCAA title."
No renderings were released of what it will look like. But, a news release described it as follows:
“The Marzano Club will offer a tremendous game day experience and will be a hub of campus and community activities on non-game days. This space will be one of the premier event spaces in all of Pennsylvania, filling a critical need for both the University community and the Centre Region.”
Somewhere Ms. E is lamenting what could have been. "Why couldn't I raise that much money? Did I need a different mouthwash, or something?"
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