UCF Stadium Opening in 2006 in Jeopardy

[Brad]

FOOTBALL: Central Florida's hopes of opening a new stadium in time for the 2006 season are in jeopardy.

The school's trustees will discuss the stadium at their meeting May 26, but AD Steve Orsini acknowledged he probably won't have all the answers to their financial questions by then.

UCF president John Hitt said if the school is to meet its goal of a 2006 opener, ground needs to be broken in June.

http://sports.tbo.com/sports/MGB8K2JLQ8E.html

[lotsofbull99]

It sounds like once again the UCF administration promises their fans the world and when they can't deliever they end up embarrassing everyone associated with the University.  This isn't the first time this has happened.  From the promises of MAC championships and BCS conference invites and now a Stadium built over night are added to the lists of embarrassments for UCF.  One year is not enough time to plan and then build a stadium. Hitt and Orsini should no better

[goodknightfl]

they said from day one that 06 would be tough to meet.  they never promised that.. this meeting will slow nothing.. the BOT already had said it can do a phone meeting if and when it was needed.. we wont have water permit until june 6.. nothing starts before that time.  they wont vote until final $$$$ # come in.. that hasnt happened... dant clayton and 360 arc still working them.

[DawgPound]

Yeah, 2006 was not a guarantee.  It was said that it was a longshot at best.  LOB, you might want to soften up a bit.  2007 was the more probably year, but they are trying for 2006.

[KNIGHTTIME]

Hopefully 2006...but I'd be happy with a stadium in 2007.   I don't think they have promised anything.  

[lotsofbull99]

The Stadium project is a last ditch attempt to save the program after 17 strait loses, the BCS Fiasco, and being saddled with an over paid and under performing coach.  If the stadium doesn't generate fan interest or an improved product on the field then UCF will find themselves in even more debt.

[CyberBull]

Wasn't arena financing supposed to be completed by now?

UCF has to be getting worried about the increase in material costs and the change in interest rates. These two factors could potentially stall both projects if they have to wait more than a year to secure financing.

[FreaKnight]

Wasn't arena financing supposed to be completed by now?

UCF has to be getting worried about the increase in material costs and the change in interest rates. These two factors could potentially stall both projects if they have to wait more than a year to secure financing.

The longer into the future one looks, the more financing issues arise as this increases uncertainty, the very definition of risk.

I am not worried as much about the stadium because the planning is still so early and 2007 is really the main plan.  UCF officials have been very clear that 2006 was a long-shot, and 2007 more likely.  It's only logical to think that $45MM price tag only goes up with time and should be higher this time next year.

The convocation center is tougher to figure out, but if one goes back to the hiring of Steve Orsini, that is when the clock really started ticking with respect to the new facility plans.  He said not too long after he started that the 2006-2007 season was the goal for the center to be completed, and that was then pushed back to 2007-2008.  If construction does not start inside of the next 6 to 9 months, that will be in jeapordy.  Apparantly, part of the financing involves occupied dormatories in the vacinity of the center.  500 beds are on schedule to be ready by Fall 2005, and the next 500 are to be ready I believe by Spring 2006.  We shall see.  Right now it appears that the stadium is a more secure project than the convocation center, but that is just one man's opinion...

[KNIGHTTIME]

Two very major projects.   I don't mind waiting until 2007 if that is the best option.

[CyberBull]

If the Big East is your goal....and all indications is that it is.....then the Convocation Center should be your first priority.