MSU looking to build more skyboxes

[rtb]

I can't believe nobody has posted this yet. On the front cover of today's Chronicle is a huge article about MSU's plan to build skyboxes on the student side of the stadium. I don't think I can share the article, but I will try.

Basically MSU wants someone to get donations that cover the cost of construction and then they can use the money from leasing the suites to pay off any debt remaining.

[MAGOO]

Any chance that a BN'r with an online subscription to the Comical could print out the story? PPWSOI (pretty please with sugar on it).

[Hell's Bells]

how about more general admission seating? bowl the stadium perhaps....

[SonomaCat]

I think the debt they are referring to is the servicing of the bonds that were issued to build the original skyboxes. Apparently they were financed at somewhat unfavorable rates and terms, and there is no option to just pay them off early, so MSU has to pay a set amount each year for a long time in order to retire the bonds. It sounds like the new revenue from the skyboxes would essentially offset the cost of servicing the bonds, which is a net positive for the departments budget.

This is different from the debt that I think they were talking about before, which I think was more of an operating deficit as opposed to long-term debt.

I emailed the story to myself, but I haven't received it yet ... when it gets to my inbox, I will post the link.

[urcrackinmeup]

SEEKING A SUITE DEAL

MSU wants to raise $7 million for more stadium skyboxes

By GAIL SCHONTZLER Chronicle Staff Writer

Montana State University wants to raise $7 million to build another sky-suite structure at its Bobcat football stadium and will seek permission this week from the Board of Regents.
President Geoff Gamble says nothing will be built unless the money can be raised first.
“My basic rule is we won’t start construction until we have all the money,” Gamble said Tuesday.
MSU’s first sky-suite structure was constructed in 1998 on the southwest side of the stadium. MSU wants to build another multi-level structure on the facing, northeast side.
The regents are meeting Wednesday through Friday in Missoula, which is hosting the Bobcat-Grizzly football game. If the regents approve MSU’s proposal, the Bozeman campus will be able to start planning and design work, expected to cost $400,000.
Gamble said this isn’t a case of MSU trying to keep up with the rival University of Montana. UM is asking students to pay an additional fee to expand the sold-out Grizzly Stadium.
MSU has a waiting list of more than 50 individuals or corporate sponsors for Bobcat skyboxes, Gamble said. MSU is hoping to find someone to donate the construction money, which would allow the university to lease out the sky boxes and pay off the debt with the lease revenue. Private donations and other nonstate athletic department revenues would finance the project.
The problem with trying to raise funds once something is already built is that people are less interested, Gamble said.
MSU learned that lesson after it ran into difficulties with the original $10 million stadium expansion cost. The athletics department in still paying off that debt.
There’s no chance that student athletic fees would be raised for the skybox project, Gamble said.
MSU will also ask the regents for permission to enter negotiations with the city of Bozeman to purchase the Story Mansion. The university is interested in housing a Humanities Institute there.
“Nothing will happen on either of those until funding is in the bank,” Gamble said of the stadium and mansion.
MSU hopes to raise the roughly $1.3 million needed to buy the mansion from a combination of federal grants and private donations. It also plans to raise funds for an endowment to pay annual costs to run and maintain the building, estimated at $120,000.
MSU faculty also plan to show the regents a short video with interviews of faculty who have left Bozeman and other MSU employees who are struggling because their paychecks aren’t keeping up with the area’s high housing prices.
Gamble said he hopes that by sharing such information with the regents and legislators, they will help craft solutions.
On other issues, MSU will ask the regents to:
OK an increase in the cost of a new large-animal, biosafety level research building from $2.5 million to $3.5 million, an increase largely resulting from inflation. The building will be paid for with research grant overhead money and other non-state funds.
Make permanent a pilot program that allows MSU to pay key faculty members extra to teach summer classes. It has been used successfully with hard-to-hire nursing faculty, Gamble said. It will make it possible for MSU to expand its popular architecture program by nearly 40 percent.
Gail Schontzler is at gails@dailychronicle.com

[Brick Sports Pub 007]

Can you post the whole article.

[bcats]

I am happy with the announcement but would like more information on how much money has already been raised. I thought they had already been asking for donations and recieving a substantial amount. What about the other talks of modifications? Is it all one fund or are we just doing one at a time. I am glad that there is a formal announcement but I would have liked to have seen some information on the other issues (bowling in the stadium, indoor practice facility, turf, parking lot) and I hope they show some kind of plans for the public to see. I bought my lotto ticket and plan on giving millions.

[GOKATS]

Can you post the whole article.

That is the whole article.

[Egg Salad]

So how many skyboxes are going to be built in this project? And how many do we already have?

[BobcatBulldog]

So how many skyboxes are going to be built in this project? And how many do we already have?

There is going to be a Bobcatnation box right,

[kmax]

So how many skyboxes are going to be built in this project? And how many do we already have?

There is going to be a Bobcatnation box right,

I don't know, how many sweatshirts have you bought from the BobcatNation store to allow us to afford one?

[rtb]

I do believe that the BobcatNation box depends on the sales of Bobcat Nation gear as kmax pointed out and lets sum it up as....it's not looking good. Get out there and support your mods!

[Hell's Bells]

I do believe that the BobcatNation box depends on the sales of Bobcat Nation gear as kmax pointed out and lets sum it up as....it's not looking good. Get out there and support your mods!

rtb you and the rest of the bobcatnation moderators are the gold standard of which to judge all moderators, and in saying that:
soo if i buy a sweatshirt, and a lof of them are sold, does that mean BN posters also get a piece of the action of this box...

[rtb]

I do believe that the BobcatNation box depends on the sales of Bobcat Nation gear as kmax pointed out and lets sum it up as....it's not looking good. Get out there and support your mods!

rtb you and the rest of the bobcatnation moderators are the gold standard of which to judge all moderators, and in saying that:
soo if i buy a sweatshirt, and a lof of them are sold, does that mean BN posters also get a piece of the action of this box...

YES! By my calculations we only need to sell about 5,000 shirts per year. If you guys can swing that we will invite certain posters to the box each week.

[kmax]

I do believe that the BobcatNation box depends on the sales of Bobcat Nation gear as kmax pointed out and lets sum it up as....it's not looking good. Get out there and support your mods!

rtb you and the rest of the bobcatnation moderators are the gold standard of which to judge all moderators, and in saying that:
soo if i buy a sweatshirt, and a lof of them are sold, does that mean BN posters also get a piece of the action of this box...

I'll make the executive decision right now without even consulting the other guys. You get people to buy enough sweatshirts that we can afford a Skybox at Bobcat stadium off the proceeds and we'll fit as many BobcatNationers in there as they will allow every game!

[CARDIAC_CATS]

I do believe that the BobcatNation box depends on the sales of Bobcat Nation gear as kmax pointed out and lets sum it up as....it's not looking good. Get out there and support your mods!

rtb you and the rest of the bobcatnation moderators are the gold standard of which to judge all moderators, and in saying that:
soo if i buy a sweatshirt, and a lof of them are sold, does that mean BN posters also get a piece of the action of this box...

I'll make the executive decision right now without even consulting the other guys. You get people to buy enough sweatshirts that we can afford a Skybox at Bobcat stadium off the proceeds and we'll fit as many BobcatNationers in there as they will allow every game!

How much is a box? 10,000 a year?

[SonomaCat]

I think I heard that they will go for about $15K (excluding the price of the tickets).

And I'm cool with kmax's wise proclomation.