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Hi Guest,

In our efforts to raise funds for USF Football, the site is giving away a football season full of ad-free surfing at The Bulls Pen.

Would you consider buying a ticket or two to the raffle that will award this to you or a fellow member of the board?

Each ticket purchase goes directly to our effort to raise $10K in "fan money" for the program.  Below is the link:

The Bulls Pen Ad-free Raffle in support of USF Football

Thank you,

Brad Brad
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BullyPulpit

USF Scheduling Philosophy and TSA Lease

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This is why I keep coming back to The Bulls Pen.  :)

I can’t cross check that data, but the analysis makes sense to me.

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Just now, Brad said:

This is why I keep coming back to The Bulls Pen.  :)

I can’t cross check that data, but the analysis makes sense to me.

I did the best I could to cross-check the numbers with what was widely reported on January 27, 2017. Unfortunately, the Tampa Bay Times no longer has a good link to the actual lease agreement, so I was forced to rely on what was publicly reported about the deal. The numbers for the attendance came from news reports following the respective seasons and took into consideration between 6,500 and 8,000 student tickets per game. I think the math is sound overall, but I am more than willing to edit things if someone has data to the contrary. 

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Excellent post...makes perfect economic sense.

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The larger point of my post is to provide perspective. UCF needs to schedule 7 home games a season to cover the debt service on their rusty, crap-hole, at least for the next 19 years. They would actually lose money if they took a payday game, as they generate more than $750,000 in net revenues from their average home game. The cost of the debt service on their initial 30 year bonds is $4 million annually (Those bonds will be paid off in about 18 years). The total cost for us to "rent" Ray Jay per year averages out to around $1,600,000 (assuming we don't open the upper deck). That is our "all-in" cost. UCF still has to pay for staff, security, EMS, upkeep, utilities, insurance, etc. They are able to cover that, but that requires the revenue generated by parking and concessions. In 2037, things will change dramatically. They will be in a much better position than we currently are, as they will essentially own their crappy stadium and will be generating an extra $4 million in revenue by the simple fact that they won't have any more debt to service (assuming they don't incur any more stadium construction related debt). The issue for USF is that the debt service on the type of stadium they were proposing a year and a half ago would be about 4 times what UCF's currently is. I don't know how the program will be able to service a $16 million debt, but I brought that up in another post not too long ago and won't bore anyone else with those thoughts/details here. 

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2 hours ago, BullyPulpit said:

The larger point of my post is to provide perspective. UCF needs to schedule 7 home games a season to cover the debt service on their rusty, crap-hole, at least for the next 19 years. They would actually lose money if they took a payday game, as they generate more than $750,000 in net revenues from their average home game. The cost of the debt service on their initial 30 year bonds is $4 million annually (Those bonds will be paid off in about 18 years). The total cost for us to "rent" Ray Jay per year averages out to around $1,600,000 (assuming we don't open the upper deck). That is our "all-in" cost. UCF still has to pay for staff, security, EMS, upkeep, utilities, insurance, etc. They are able to cover that, but that requires the revenue generated by parking and concessions. In 2037, things will change dramatically. They will be in a much better position than we currently are, as they will essentially own their crappy stadium and will be generating an extra $4 million in revenue by the simple fact that they won't have any more debt to service (assuming they don't incur any more stadium construction related debt). The issue for USF is that the debt service on the type of stadium they were proposing a year and a half ago would be about 4 times what UCF's currently is. I don't know how the program will be able to service a $16 million debt, but I brought that up in another post not too long ago and won't bore anyone else with those thoughts/details here. 

But who knows how much money UCF will have to put into that place in those 18 years.  

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4 minutes ago, CousinRicky said:

But who knows how much money UCF will have to put into that place in those 18 years.  

It could be substantial. I accounted for about half a million a year, but it could be more. If course, they are planning possible further expansion, because they are never going to lose again, so it makes sense! 

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I should have noted that we will profit $1,000,000 over the 3 game series with Louisville as well. 

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