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Is it true that UCF doesn't own their new arena?

___ Eats It

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___ Eats It Toro Magnifico

___ Eats It

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Posted

???

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Jihme Toro Magnifico

Jihme

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Posted

how could that be a truth?!?!?!

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crambone Toro Magnifico

crambone

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Posted

Linkage?

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___ Eats It Toro Magnifico

___ Eats It

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Posted

Linkage?

No link to offer... which is why I asked the question.

I heard that they don't own it but will assume ownership in 10 years.  Haven't been able to find a single thing on their website regarding any funding for the arena at all... not that it matters, since they launder their money and use illegal loans to hide the source of everything anyway.

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CyberBull Toro Magnifico

CyberBull

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Posted

IIRC, that was part of the financing plan that allowed them to build that $84-million facility. It's a nice building, but with their new arena being privately financed I wonder how much they are really making in revenues. I believe all the small shops and restaurants around the arena are also owned by the company who financed the construction.

FWIW, I've read that many of the shops around the arena are not doing so well. I just think its ironic considering Phil and KL ran so much smack last year b/c USF doesn't "technically" own the SunDome.

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DawgPound Toro Magnifico

DawgPound

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Posted

Linkage?

No link to offer... which is why I asked the question.

I heard that they don't own it but will assume ownership in 10 years.  Haven't been able to find a single thing on their website regarding any funding for the arena at all... not that it matters, since they launder their money and use illegal loans to hide the source of everything anyway.

You are partially correct, Matt.  UCF is in a lease-buy agreement and will assume full ownership of the new arena(I think it was 5 or 8 years, but I don't remember the specifics).  Until then, it is operated more as a partnership with Global Spectrum having a lot of booking freedom outside of interfering with UCF related events.

As I said, I don't remember the specifics, so don't quote me on it, but I do know for a fact that UCF does not fully own the arena at this time.

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USF_Grouper Toro Magnifico

USF_Grouper

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Posted

Linkage?

No link to offer... which is why I asked the question.

I heard that they don't own it but will assume ownership in 10 years.  Haven't been able to find a single thing on their website regarding any funding for the arena at all... not that it matters, since they launder their money and use illegal loans to hide the source of everything anyway.

You are partially correct, Matt.  UCF is in a lease-buy agreement and will assume full ownership of the new arena(I think it was 5 or 8 years, but I don't remember the specifics).  Until then, it is operated more as a partnership with Global Spectrum having a lot of booking freedom outside of interfering with UCF related events.

As I said, I don't remember the specifics, so don't quote me on it, but I do know for a fact that UCF does not fully own the arena at this time.

Not sure why you guys would crack on UCF for that.  Sounds like a good business approach to solving a problem.  Was at their arena last week for commencement, nice place.  The area around the arena looks nice as well.  I was wondering how succesfull all those shops could be though.  Saw some place selling surf boards and beach attire, i don't see that place making another year.

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___ Eats It Toro Magnifico

___ Eats It

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Posted

There were those on this board who cracked on USF for having similar arrangements with Hillsborough County with the track and field complex... and those who chided USF for not "owning" the Sun Dome.

This is a pretty dang similar situation right there at UCF.  It has been pretty silent with those critics though as of late... they must have realized that UCF was doing the same thing.

All in all, it's not a bad way to get things built on your campus.  I just thought it was funny that Phil the Microphallus-having Bagboy got such joy out of ridiculing USF for not having complete ownership of buildings on campus.

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DawgPound Toro Magnifico

DawgPound

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UCF's agreement will make them the full owners in a shot timespan.  USF flat out does not own the Sundome.

UCF won't have the problem that made USF's basketball play in the Corral.

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Bullshutter Proficient

Bullshutter

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Posted

I had no idea USF didnt own the sundome... so who does own it?  btw,..... ucf arena is pretty nice... its like a small st pete times forum

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