JimmyHoya
Golden Hoya (over 1000 posts)
Hoya fan, est. 1986
Posts: 1,867
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Post by JimmyHoya on Mar 24, 2005 13:41:37 GMT -5
Coporate sponsorships rule and we should look for them.
Call it Verizon Arena if they want...we can still call it JT's court and make our own nickname for it.
It's a pity that the guy who started Nextel hates the school, and we'd be leaving AOL Ted behind...
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Post by DuddingtonHoya on Mar 24, 2005 16:01:42 GMT -5
The guy who started Nextel hates Georgetown.... huh?? I though Gov Warner started Nextel. Does the Governor of Virginia hate Georgetown? Am I totally missing something?
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Post by DuddingtonHoya on Mar 24, 2005 16:06:25 GMT -5
BTW - the university is waiting for an 8-figure donation to come along to jump start McD renovation? Is the total renovation even going to take 8 figures? Tens of millions of dollars? Were not looking to build a new Southwest Quad.
I recall the Esh-era "pledges" from the board. But pledges are a hell of a lot different than cold hard cash sitting in a 501c3 fund. Even if the bank only reached 6 figures I imagine it could be enough to get the university to pay attention. Crew and football boosters are driving the construction of their facilities, it's probably about time that somebody who actually knows more than me about starting a 501c3 to step up.
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TBird41
Platinum Hoya (over 5000 posts)
"Roy! I Love All 7'2" of you Roy!"
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Post by TBird41 on Mar 24, 2005 16:07:38 GMT -5
While this is a little different than our case (private v. state school) the U of Minnesota is building their new football stadium with the help of TCF bank. Definately something we can look into. www.startribune.com/stories/512/5311137.htmlOf course, as much as I want an arena, John Thompson's name has to be on it in some capacity. Finally, someone mentioned before about putting the same amount of energy into this as into the Esherick crisis...well, should we start some kind of petition, along the lines of "we donate to Gtown and will donate to help build a true on campus arena. We understand GTown's situation, but we ask that an arena be the next priority after the projects that are currently being built or having funds raised for them" Get the University to at least state that they're next new project is the arena and then possibly start raising some money (which could be invested (?) so it's a lot more when the University actually starts fund raising) At least get the University to acknowledge it, state what they need publically (then forward that to Ewing/Iverson/Mutombo/Mourning, etc.).
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SoCalHoya
Golden Hoya (over 1000 posts)
No es bueno
Posts: 1,313
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Post by SoCalHoya on Mar 24, 2005 16:40:49 GMT -5
Why doesn't the Nextel guy like Georgetown?
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RBHoya
Diamond Hoya (over 2500 posts)
Posts: 4,124
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Post by RBHoya on Mar 24, 2005 16:48:48 GMT -5
Can anyone put a dollar figure on how much this is going to cost, overall? At least a ballpark estimate?
Then perhaps we can do a little math to see what kind of donations we're going to need, plus the money wed make on the donations through investment over time, factor in some corporate sponsorship etc......
Basically Im looking to quantify what were looking at here. This thread has been large philosophical and qualitative so far, in terms of what its going to take to get the new arena on the agenda.... However, Id like to work with some numbers, to see what its going to take for Hoya fans/alums (Im still a student, but Id like to contribute as much as possible) to put a dent in this thing.
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SFHoya99
Blue & Gray (over 10,000 posts)
Posts: 17,736
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Post by SFHoya99 on Mar 24, 2005 16:58:05 GMT -5
Heard $25MM for a renovation.
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TBird41
Platinum Hoya (over 5000 posts)
"Roy! I Love All 7'2" of you Roy!"
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Post by TBird41 on Mar 24, 2005 17:02:21 GMT -5
Heard $25MM for a renovation. So if everyone on this board (1370 people) donates $18,249, we'll have enough. Well, guess I'll have to take next semester off. Wonder if they'll still let me buy student tickets next fall if I'm taking the semester off to help fund a new stadium... Or if an 8 figure donation gets made, well, then we only have to donate $10,949 each.
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SoCalHoya
Golden Hoya (over 1000 posts)
No es bueno
Posts: 1,313
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Post by SoCalHoya on Mar 24, 2005 17:06:41 GMT -5
Or if we could get 14,000 alumni to donate $1789 we would get there.
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JimmyHoya
Golden Hoya (over 1000 posts)
Hoya fan, est. 1986
Posts: 1,867
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Post by JimmyHoya on Mar 24, 2005 18:03:22 GMT -5
Why doesn't the Nextel guy like Georgetown? Morgan O'brien, a graduate of my high school, went there because his father forced him, hated the place, thinks it's overrated as an intellectual center, and basically said that it's a waste of time to even apply there to the rest of my fellow senior class on "career day" earlier this year. He did however, donate half the funds for my own school's new gymnasium, so I can't complain that much...
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Post by aleutianhoya on Mar 24, 2005 18:15:08 GMT -5
Couple of Points:
1) Either a renovation or a rebuild will cost in the high eight-figures. Crazy? Virginia's new facility is costing $130M...and that's without ANY of the offices and main Athletic administration functions that McDonough would still have to have (even with some of them going into a building associated with the multisport facility). Yes, it's much bigger than a McDonough rebuild but it's also in an area less costly for construction. If that doesn't seem like a fair comparison, relate to the first parts of the Multi-sport facility--basically just an astroturf field, some bleachers on both sides, and a small building will be costing over $20M. Keep in mind also that the University, for good reason, requires "contingency" amounts to be built into all construction plans--that way, there is never a time that the University is forced to dip into its own (currently nonexistent) pockets for extra funds when a project goes over-costs either because of delay or miscalculation. If more is raised than is ultimately needed, well, everyone is happy.
2) As I've mentioned before, for a variety of reasons, beginning an independent tax-exempt for purposes of fundraising would not achieve the desired result. First, the University has access to all of the necessary logistical information (addresses, giving history, etc.) Second, keep in mind that the University Annual Fund currently raises only about $20 million a year--and that includes donations to the Medical, Law, and Undergraduate School programs. Annual gifts to Athletics are currently around $2 million. While not a "zero-sum" game, fundraising is darn close to that....and merely stealing from one side of the University to pay for something else would do nothing functionally good for the University, since they'd have to make the shortfall up somehow. Take Athletics--all of that $2 million is currently used to pay operating expenses...it's not extra money. Third, the folks most likely to support a Convocation Center are folks currently supportive of men's basketball. That amounts to about $500,000 annually, and many of those people give specifically to get seat priority--something an independent organization wouldn't be able to provide. Fourth, there are serious NCAA issues with a separate charity--namely that an institution must retain organizational control over anything associated with it. Fifth, and to my mind most important, who in their right mind would make a sizable (read: $1K or $10K or more) gift to a project that they weren't 100% sure the University was behind? And if you do the math, you need a LOT of those sized gifts to make up for the many well-meaning $25 gifts that you would get. The existence of a separate fund not associated with the school would certainly lead someone to be justifiably suspicous.
3) I don't think the University would care if it was a group of donors or one donor that comes up with that initial 8 figure gift. It's just that it almost always is one person. That's the model that works for every fundraising organization that's building a facility. Grass roots efforts to raise that amount of money simply aren't successful without that one or more large gift. The reason is twofold: Announcing that one big gift spurs others to make big gifts (either because they're competitive or because they feel that the project is going to be successful and they want to be a part); and it doesn't allow people who could give a lot more to "cop-out" by giving a smaller amount to be a part of the whole. For instance, someone who could give $10,000 himself to reach a $10,000 goal might only give $1,000 if he knows that 20 other people are being asked. That screws the effort in the long-term.
4) I don't mean to say that there isn't anything that can be done. It's important that everyone--students, alumni, and fans--continue to voice their support for such a project, keeping it at the forefront. And, as others have mentioned, it's important that the other projects that the University and Athletics have already committing to making successful (the Boathouse and multisport facility) get built as soon as possible. That way, those folks that have donated to those projects are free to support this one, and the University's fundraising staff is free to spend its resources on supporting this effort.
5) I would agree with those that say the neighborhood will be a problem; I would also agree that this is a problem that can be overcome by spinning this the right way (there won't be that many dates that a sizable crowd comes in; ample bussing so as to eliminate traffic; benefits for the community).
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GUHoya07
Diamond Hoya (over 2500 posts)
Posts: 4,083
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Post by GUHoya07 on Mar 25, 2005 12:36:50 GMT -5
This is a great discussion guys, I think its important that we keep this up and refuse to let it be forgotten about like the university seems to hope for.
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SoCalHoya
Golden Hoya (over 1000 posts)
No es bueno
Posts: 1,313
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Post by SoCalHoya on Mar 25, 2005 13:05:19 GMT -5
I was reading "Big Man On Campus" and it even talked about how JT Jr. was begging for a bigger/better on campus arena back in the early 80s. (maybe this is old news for many of you, but I didn't know that) Personally, I understand the University's pinch. We have some seriously underfunded programs with poor housing (the Biz school, performing arts, sciences). I'm very VERY happy to see that the Biz school has started, that the performing arts building is on its way and that the MultiSport facility has begun (especially since lacrosse and track are really producing top-notch scholar-athletes). To have a place like MCI is a *decent* band-aid for a larger facility. I think it will have to hold until GU can improve the Science aspect of the University. Honestly, I was SFS at GU but it was clear to me that sciences were neglected...not in professors or in student talent, but just in pure facilities. So, we need to fix that and arguably, it is more important than getting a new arena. **However**, who is to say that renewed interest in the b-ball program, creating a swell of alumni support and interest, could not support science AND basketball simultaneously? One could argue that the sciences may get a facelift *faster* if it worked hand-in-hand with basketball. Personally, if GU came to me and said, "listen, we need help. We've gotta help out the sciences and financial aid really badly. They're hurting. However, we also want to build a new arena b/c it's long overdue, we owe it to the players, the alumni, the students, the program, the Thompson family, etc. Will you help us fundraise for both simultaneously?" I would jump off a bridge to help. I would make phone calls, lobby Congress, give money, start a hunger strike ....anything, to help out. What do you all think?
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Post by jerseyhoya34 on Mar 25, 2005 13:08:57 GMT -5
I was reading "Big Man On Campus" and it even talked about how JT Jr. was begging for a bigger/better on campus arena back in the early 80s. (maybe this is old news for many of you, but I didn't know that) Personally, I understand the University's pinch. We have some seriously underfunded programs with poor housing (the Biz school, performing arts, sciences). I'm very VERY happy to see that the Biz school has started, that the performing arts building is on its way and that the MultiSport facility has begun (especially since lacrosse and track are really producing top-notch scholar-athletes). To have a place like MCI is a *decent* band-aid for a larger facility. I think it will have to hold until GU can improve the Science aspect of the University. Honestly, I was SFS at GU but it was clear to me that sciences were neglected...not in professors or in student talent, but just in pure facilities. So, we need to fix that and arguably, it is more important than getting a new arena. **However**, who is to say that renewed interest in the b-ball program, creating a swell of alumni support and interest, could not support science AND basketball simultaneously? One could argue that the sciences may get a facelift *faster* if it worked hand-in-hand with basketball. Personally, if GU came to me and said, "listen, we need help. We've gotta help out the sciences and financial aid really badly. They're hurting. However, we also want to build a new arena b/c it's long overdue, we owe it to the players, the alumni, the students, the program, the Thompson family, etc. Will you help us fundraise for both simultaneously?" I would jump off a bridge to help. I would make phone calls, lobby Congress, give money, start a hunger strike ....anything, to help out. What do you all think? Good points. I just finished BMOC two weeks ago and got the same impression. What is another $50M on a capital campaign that will be over $1B? I would have no problem if we just raised $20M and put it in a 10 or 15 year bond so we don't have to scramble when the green light is given. There's no reason why fundraising can't begin as soon as the multisport is fully funded.
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YB
Golden Hoya (over 1000 posts)
Posts: 2,494
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Post by YB on Mar 25, 2005 13:31:18 GMT -5
Agree Jersey- what's the downside???
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SSHoya
Blue & Gray (over 10,000 posts)
"Forget it Jake, it's Chinatown."
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Post by SSHoya on Mar 25, 2005 14:23:19 GMT -5
Chance to go straight to the top to lobby for new arena:
From: Georgetown Club of Metropolitan DC Location: The Cosmos Club
2121 Massachusetts Ave, NW,Washington,DC View Map When: Wednesday, April 6, 6:30pm to 8:30pm Please join us for our annual Presidential Cocktail reception with Georgetown University President Jack DeGioia. Talk directly with President Jack DeGioia and other alumni leaders and get an insider's view of the University's latest plans and programs during an evening reception at one of Washington's most storied and beautiful buildings, the Cosmos Club.
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SoCalHoya
Golden Hoya (over 1000 posts)
No es bueno
Posts: 1,313
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Post by SoCalHoya on Mar 25, 2005 14:29:59 GMT -5
Whoa. That would be a great place to ask questions (and offer help/ideas). Wish I could be there. Might have to send a surrogate...
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the_way
Platinum Hoya (over 5000 posts)
The Illest
Posts: 5,419
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Post by the_way on Mar 25, 2005 14:44:46 GMT -5
Guys, I like the enthusiam. But the reality is, we better be satisfied with MCI as a home-base. A new arena will not be built in another lifetime or two. If we get one fine, but given the history of this issue and the pragmatics, I wouldn't hold my breath.
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GUHoya07
Diamond Hoya (over 2500 posts)
Posts: 4,083
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Post by GUHoya07 on Mar 25, 2005 15:24:54 GMT -5
Im sick of that BS about a new arena not being built in another "lifetime or two". It may be highly unlikely, but its definitely not gonna happen if we all have your damn attitude and just give up.
We're supposed to take the "If we get one, fine" attitude? Thats the most ridiculous thing ever!!! This needs to be pushed and even if you're too lazy or incapable of understanding how important this is then others need to put in the time and effort.
Anyone that was at the game at McDonough on Tuesday and at the game at the Colonial Center in South Carolina knows that getting an on campus arena is not simply a "nice thing to have" it is necessary!
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SFHoya99
Blue & Gray (over 10,000 posts)
Posts: 17,736
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Post by SFHoya99 on Mar 25, 2005 15:26:37 GMT -5
Guys, I like the enthusiam. But the reality is, we better be satisfied with MCI as a home-base. A new arena will not be built in another lifetime or two. If we get one fine, but given the history of this issue and the pragmatics, I wouldn't hold my breath. I believe you said the same thing about Esherick being fired.
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