Viniks Give another $5m for stadium!

[E.T.]

Great News !

Now if there is anyone that still doubts we are getting a stadium . . . puhlease stand up!

Edited April 6, 2022 by E.T.

[Peatearpan]

41 minutes ago, Who'sYourData? said:

Will your $5mil donation be announced soon?  

I would accept a stadium name of the Smazza Dome.

[79 Bull]

I'm guessing this has been a purposeful strategy between USF and a few major donors to set the bar during a quiet phase of fundraising.  So $5 million has been set as the amount to give if you're not pursuing naming rights.  If we can get 15 to 20 donors at this amount, that's $75 to $100 mil before the real grass roots fundraising starts.  I know they've been tapped before but I'm assuming talks are going on with Gonzmart, Yuengling, Muma, etc. to contribute at the same level.    Hell, maybe even the Glazers could pony up $5 mil.

GO BULLS! 

[BulledOver]

41 minutes ago, Who'sYourData? said:

More like $290mil from what I understand.  But the reality is that there will no doubt be financing involved.  So we really don't need all of it from donations.  Not sure how much is needed in donations to be enough to get it going, though.

Naw, I heard it was $289 million

[Bullrush33]

35000 seats is too small. We really need 45000 with possibility for 50,000

[Jim Johnson]

34 minutes ago, bulloni said:

Have heard we'll be getting money from the state and money from the school, unsure of how accurate that is though

The state does not provide money for university stadiums.  It didn't give money to UCF, FAU, or FIU... and the state did not pay for the FSU stadium renovations.  The state did provide PECO (Public Education Capital Outlay) funds for some FSU work because there are actual classrooms in the stadium facade, but those funds did not pay for anything in the stadium itself.  USF's football operation very likely center won't be eligible for PECO funds.

That said, there are student fees that are collected by the state and allocated in the state budget (Capital Improvement Trust Fund) for facilities like this.  The Sun Dome was built, in part, with CITF money... and the new roof was also CITF-funded.  So was the Rec Center... It's $$ paid by students to be used for non-academic buildings.

The state provides some money for professional stadiums in the form of sales tax rebates.  The Tampa Sports Authority keeps $2 million in sales tax revenue generated at the stadium, which is used to pay down the debt on the stadium construction bonds.  For college athletics, universities keep every penny of sales tax on tickets, which is used to fund women's sports.  Other sales tax goes to the state, as the law does not provide the same rebate for college facilities.

The state also allows local governments to dedicate local sales tax money and local hotel taxes to stadium construction debt service.  These are no available for university facilities (as they have to be owned by the local government).

 

This is not like the new Buffalo Bills stadium getting $850 from New York and Erie County... don't expect the state of Florida to provide direct appropriation for the stadium.

 

[E.T.]

19 minutes ago, 79 Bull said:

...    Hell, maybe even the Glazers could pony up $5 mil.

GO BULLS! 

If the Glazers don't . . . we'll charge them $5M to rent the stadium to play in "when" they rebuild the County Funded Stadium they play in.  

8 minutes ago, Bullrush33 said:

35000 seats is too small. We really need 45000 with possibility for 50,000

Less is better IMO, need to build the demand!

[Rizman]

I think USF needs to start raising money from their Alumni.  I will give money to it over the next 5 years.

[Jim Johnson]

1 minute ago, Rizman said:

I think USF needs to start raising money from their Alumni.  I will give money to it over the next 5 years.

I will be doing that as well. @John Lewis said the fund will be officially opened in the next fiscal year (July 1).

[John Lewis]

2 minutes ago, Jim Johnson said:

I will be doing that as well. @John Lewis said the fund will be officially opened in the next fiscal year (July 1).

Once the fund is set I will let everyone know.