WSJ Article on PSU BOT / Beaver Stadium

GrimReaper

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If they wait long enough, there will be no college football to worry about. There may no Penn State either.

Then again, spending the $700 MM now could hasten Penn State’s demise. 🤔
Yeah, I wanna see Boom Boom stand up to the lenders and tell them they can't touch tuition or state funding dollars. Might be worth it not to fire her to watch that spectacle.
 
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SleepyLion

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How much do you currently pay for seats and how much more are you willing to pay? Tickets currently cost roughly $150 each depending on the game. Do you upgrade to the Nittany Lion Club?

Let's assume 20,000 fans are willing to spend an additional $50 each ($200 per ticket vs $150). That would generate and additional $1 million per game or $7 million pe year. Compare that to the $700 million price tag and tell me how this pays for itself.

I understand that some of this will come from donations and other sources but it's a big nut no matter how you slice it. It seems to me that PSU could have done a lot with a $350 million upgrade. Other upgrades I've read about:

Georgia $68m
Tennessee $288m
OK State $55m
Florida $400m
Missouri $250m
FL State $265m
Cotton Bowl $140m
Nebraska $400m (being severely cut back)
My only concern is the mixed metaphor... you don't slice nuts, you crack them. Although slicing is possible and more difficult.
 

PSUFTG2

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The index jumped 10-12% during Covid, but the curve has been flattening since, returning to the 3-4% previously seen..

Sure it would have cheaper to do whatever necessary in 2015, but Ms. Godamn Fu@king Excellence was busy with he fu@king Facilities Mater Plan which treated Beaver Stadium like an afterthought to be addressed in 2035. She was preoccupied with her Center for Excellence (why do people name schit like that?), tennis facilities, and building the most expensive competitive swimming facility in the US, instead of tending to the cash cow. Unfathomable. The explanation of priorities I was given: the fear was that all of the donors would be tapped out if they were hit up for Beaver Stadium first, and there would be no money for anything else. Well, goooooolllllllleeee!
And yet, somehow, without even taking on any of those "master plans", PSU ICA managed to spend every dollar coming in the door (and then some) with nothing left to take care of the things they had - or to put any away in reserves or for a "rainy day".
 
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Psu00

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I’m still trying to get over how you approve $700 million for plans to upgrade but you never see what that money will actually get you. No finalized plans and images of what it will look like when done.
 
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LBUfanatic

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How much do you currently pay for seats and how much more are you willing to pay? Tickets currently cost roughly $150 each depending on the game. Do you upgrade to the Nittany Lion Club?

Let's assume 20,000 fans are willing to spend an additional $50 each ($200 per ticket vs $150). That would generate and additional $1 million per game or $7 million pe year. Compare that to the $700 million price tag and tell me how this pays for itself.

I understand that some of this will come from donations and other sources but it's a big nut no matter how you slice it. It seems to me that PSU could have done a lot with a $350 million upgrade. Other upgrades I've read about:

Georgia $68m
Tennessee $288m
OK State $55m
Florida $400m
Missouri $250m
FL State $265m
Cotton Bowl $140m
Nebraska $400m (being severely cut back)
I believe much of the new premium seating — loge boxes, club boxes, etc — will not be sold on a price per game basis, but instead sold similar to a how luxury boxes are sold. I have refrained from buying seats in the Nittany lion Club because, while the seats are definitely better, the amenities and size of the indoor space simply don’t justify the price. I’m hoping the new loge boxes are dramatically better. I am willing to pay a sizable premium for that type of experience.
 

PSUJam

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The index jumped 10-12% during Covid, but the curve has been flattening since, returning to the 3-4% previously seen..

Sure it would have cheaper to do whatever necessary in 2015, but Ms. Godamn Fu@king Excellence was busy with he fu@king Facilities Mater Plan which treated Beaver Stadium like an afterthought to be addressed in 2035. She was preoccupied with her Center for Excellence (why do people name schit like that?), tennis facilities, and building the most expensive competitive swimming facility in the US, instead of tending to the cash cow. Unfathomable. The explanation of priorities I was given: the fear was that all of the donors would be tapped out if they were hit up for Beaver Stadium first, and there would be no money for anything else. Well, goooooolllllllleeee!
Christopher Nolan Ovation GIF by BAFTA
 
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GrimReaper

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And yet, somehow, without even taking on any of those "master plans", PSU ICA managed to spend every dollar coming in the door (and then some) with nothing left to take care of the things they had - or to put any away in reserves or for a "rainy day".
Which jogs my memory. In the article Boom Boom was quoted as saying that ICA wouldn't be undertaking any capital projects over the course of the 30 year time frame. When does that clock start? Before or after the $100mm they have teed up for soccer facilities, more Lasch renovations, the inflatable bubble, etc?
 
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PSUJam

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Which jogs my memory. In the article Boom Boom was quoted as saying that ICA wouldn't be undertaking any capital projects over the course of the 30 year time frame. When does that clock start? Before or after the $100mm they have teed up for soccer facilities, more Lasch renovations, the inflatable bubble, etc?
It's important to distinguish which projects will be paid for exclusively with donor money.
 

GrimReaper

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It's important to distinguish which projects will be paid for exclusively with donor money.
Exclusively? None of the above. Read that fundraising for Lasch was $7mm, soccer facilities $8mm, and target for the Greenberg Center $10mm. Zero for the East Area locker rooms and practice bubble, so maybe $25mm out of $100mm+
 
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PSUJam

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And yet, somehow, without even taking on any of those "master plans", PSU ICA managed to spend every dollar coming in the door (and then some) with nothing left to take care of the things they had - or to put any away in reserves or for a "rainy day".
So they could be forced to use the reserves for an art museum? Yeah ok.
 
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Nitt1300

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How excited will fans be to spend more money to watch a stale program? If CJF can’t deliver this year with a 5* QB as his returning starter (maybe onto the NFL along with our top two RBs next year), and/or if we end up in a meh bowl with a bunch of opt outs, I think people will find other ways to spend their time and money and that Mecca will be empty like school on Saturday.

If you’re going to be content with 10 wins and losses against our best opponents, why go broke fixing the thing that isn’t the issue? Assuming people will keep paying to watch this program ‘as is’ is a mistake.
^ never misses a chance to take a shot- never
 
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PSU Mike

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So what’s the net result on the in-person fan calculus: outlays for game day experience + ICA contributions + NIL contributions?

I can absolutely guaran-friggin-tee you an answer, any answer, to that question wasn’t laid out in front of Pat, Neeli, or the BOT - am I correct @PSUFTG2?
 
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BobPSU92

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Which jogs my memory. In the article Boom Boom was quoted as saying that ICA wouldn't be undertaking any capital projects over the course of the 30 year time frame. When does that clock start? Before or after the $100mm they have teed up for soccer facilities, more Lasch renovations, the inflatable bubble, etc?

Swimming hole?
 

BobPSU92

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Another memory jogger. Believe I recall reading something that Kraft wanted to do something with McCoy. Is this another capex project that PSU won't be doing. Think that Petey and Boom Boom need to get their ducks in the same order.

Wasting Sandy’s vision. 😞
 

LaJollaCreek

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I have no idea what you would think constitutes a "hit". I was merely commenting on your obsession. If I hit a nerve, so be it.
You recall when MCE lost it and just flipped on PSU and the program because of the Devlin stuff.....not sure what triggered this move, but the OCD level on 12am the last few months is over the top. Even when he states he would stop, he cannot.
 

GrimReaper

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You recall when MCE lost it and just flipped on PSU and the program because of the Devlin stuff.....not sure what triggered this move, but the OCD level on 12am the last few months is over the top. Even when he states he would stop, he cannot.
Marsh Creek? Not even close. Tone is/was vastly different. MCE was beginning to resemble Chewie.
 

TiogaLion

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Are there any predictions on how much revenue will be lost during construction, including seats, parking, and concessions? Changing the pitch of the seating will require what will essentially be a new build.
 
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TiogaLion

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That‘s where the new art museum comes in.

Not so fast my friend.

The Palmer Museum of Art at Penn State is open to the public.​

Plan your visit now!​


Free Admission​

($7 Suggested Donation)​


 
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BobPSU92

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Not so fast my friend.

The Palmer Museum of Art at Penn State is open to the public.​

Plan your visit now!​


Free Admission​

($7 Suggested Donation)​



Who the hell is ruining running Penn State? Jesus.
 
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