Beaver Stadium $25 million donation (Edited to add another 10 million) (Edited again for another 10 million)

[BobPSU92]

Will the Lubert Family Welcome Center welcome people who smell like us? Are we the right kind of people?

 

[Achowalogan]

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".....

 

[SleepyLion]

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".....

Win the lotto and make it happen!

 

[BobPSU92]

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".....

Quite the dilemma that would be in the halls of Old Main.

 

[GrimReaper]

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".....

Quite the dilemma that would be in halls of Old Main.

At $10mm, it wouldn't happen. The ante would have to be raised considerably to make Neels squirm.

 

[BobPSU92]

At $10mm, it wouldn't happen. The ante would have to be raised considerably to make Neels squirm.

You can’t put a price on doing the right thing. Well, Penn State can.

 

[LB99]

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".....

Maybe start a go fund me?

 

[Achowalogan]

Win the lotto and make it happen!

I’d be doing more than that, we’d also see Erickson’s name come off our Food Science Building…,

 

[Midnighter]

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.

www.on3.com

 

[PSUJam]

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.

www.on3.com

 

[Taycro]

But we still have the “Cocktagon”!

You haven't lived until you've held hands, forming a complete circle and pissing in unity in the cocktagon

 

[Midnighter]

You haven't lived until you've held hands, forming a complete circle and pissing in unity in the cocktagon

 

[JWB389]

Re: removal of the troughs…at least the men’s room directly inside gate A (best place to go if ya gotta go) they replaced the porcelain troughs with stainless steel ones. Not sure about the others. I hit the port-a-John's in the NE deck now.

 

[BobPSU92]

You haven't lived until you've held hands, forming a complete circle and pissing in unity in the cocktagon

Oh. You said held “hands”.

 

[GrimReaper]

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.

www.on3.com

Cost of doing business.

 

[step.eng69]

At $10mm, it wouldn't happen. The ante would have to be raised considerably to make Neels squirm.

$10mill + these?

 

[BobPSU92]

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.

www.on3.com

60.25/700 = 8.6%

Almost there!

 

[step.eng69]

60.25/700 = 8.6%

Almost there!

Bob,
You're forgetting the $500 mill in interest that is added to the loan.

 

[BobPSU92]

Bob,
You're forgetting the $500 mill in interest that is added to the loan.

60.25/1200 = 5%

Almost there!

 

[NittPicker]

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.

www.on3.com

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.

 

[PSUSignore]

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.

www.on3.com

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.

 

[Sharkies]

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.

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?

 

[Sharkies]

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.

Jeeze, wonder if the contract details were available to all trustees or just the ones that alumni can't elect?

 

[NittPicker]

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?

I read the announcement. The source of the donation doesn’t matter. The money spends the same and is separate from multimedia deal.

 

[GrimReaper]

I read the announcement. Did you read my post? The source of the donation doesn’t matter. The money spends the same.

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.

 

[GrimReaper]

$10mill + these?

View attachment 656932

Now that's just nasty.

 

[PSUJam]

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.

There's a reason I didn't post this one.

 

[Tgar]

Everybody pat yourself on the back for this contribution. LOL.

 

[PSUSignore]

I read the announcement. The source of the donation doesn’t matter. The money spends the same and is separate from multimedia deal.

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.

 

[GrimReaper]

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.

 

[BobPSU92]

Sure doesn't help perceptions when certain elements of the BoT withhold scrutiny of the contact from other members.

I’m sure it’s all just a misunderstanding.

 

[manatree]

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.

Suddenly, last year's Pepsi contract extension seems like a missed opportunity shakedown.

 

[PSUJam]

Sorry for the great news this sunny Fall day.

 

[BobPSU92]

Sorry for the great news this sunny Fall day.

$5 MM? Pfft. We’re trending downward.