Stadium Named

[UAalum72]

What was the total cost of that SBU renovation? Are there any funds ear-marked for SEFCU in addition to whatever is coming from this donation? I would imagine if say, 5M goes towards SEFCU, then that makes it a lot easier sell for a total overhaul.

SBU renovation cost $21.1 million, only $1M from private donations.

[Dane96]

Truly amazing gift. Earmarked for funding are:

1- Stadium Improvements and Endowment for Operations Cost of the Stadium;

2- Renovation to the SEFCU Arena

3- Endowed Scholarships

4- Other "athletic facility" improvements and needs.

A.D. Benson is now on the clock to show his shrewdness. My guess is that a few of the key sports would receive "endowed" scholarships. They would be Men's & Women's Basketball, Field Hockey, Lacrosse, and Football.

In order of "needs", the SEFCU desperately needs updating. If we are planning updates, my guess would be scoreboards and other game day improvements.

However, the naming rights for SEFCU are up next year. That deal was for $2.75 million last time. I would supposed we'd get considerably more for the naming rights considering since the last time the SEFCU was named, UA basketball teams have won 8 championships. The product is significantly better...and with the SIENA game on the docket...it's a much more marketable building.

If Benson and the financial guru's at UA are super-crafty, they will take the "yearly" out of the new naming from SEFCU and combine it with a few hundred thousand per year from the $10 million. Take that number, and go to the state and ask for a few million more to FULLY GUT SEFCU. The combination of all three funding sources could go towards both the debt service on the gut-job AND the operational cost for running the building over "X" years.

Next on my list would be the indoor field house. Start saving for that building. Interestingly, the lacrosse teams are playing all home games at Bob Ford Field at Casey Stadium this season. I'm wondering if that is a precursor to using that land as a Field House.

[Eli]

 

Truly amazing gift. Earmarked for funding are:

1- Stadium Improvements and Endowment for Operations Cost of the Stadium;

2- Renovation to the SEFCU Arena

3- Endowed Scholarships

4- Other "athletic facility" improvements and needs.

A.D. Benson is now on the clock to show his shrewdness. My guess is that a few of the key sports would receive "endowed" scholarships. They would be Men's & Women's Basketball, Field Hockey, Lacrosse, and Football.

In order of "needs", the SEFCU desperately needs updating. If we are planning updates, my guess would be scoreboards and other game day improvements.

However, the naming rights for SEFCU are up next year. That deal was for $2.75 million last time. I would supposed we'd get considerably more for the naming rights considering since the last time the SEFCU was named, UA basketball teams have won 8 championships. The product is significantly better...and with the SIENA game on the docket...it's a much more marketable building.

If Benson and the financial guru's at UA are super-crafty, they will take the "yearly" out of the new naming from SEFCU and combine it with a few hundred thousand per year from the $10 million. Take that number, and go to the state and ask for a few million more to FULLY GUT SEFCU. The combination of all three funding sources could go towards both the debt service on the gut-job AND the operational cost for running the building over "X" years.

Next on my list would be the indoor field house. Start saving for that building. Interestingly, the lacrosse teams are playing all home games at Bob Ford Field at Casey Stadium this season. I'm wondering if that is a precursor to using that land as a Field House.

 

 

Fully agreed. However, I find it hard to imagine that we can stretch $10M like that. Reno SEFCU and endow a bunch of scholarships? The scholarships alone will add up REAL quick IMO unless it's like 1 per our major teams.

 

But I agree with you. Future hope is that we gut SEFCU and start from near-scratch and play games at HVCC's gym while that's going on (TUC is too big). Their gym is not that bad, IMO.

 

Edited October 9, 2015 by Ilko

[UAalum72]

Our Final-Four, top-10 field hockey team will host the 8-team conference tourney with four teams from the west coast. The championship game on ESPN3 will show off the crowd on ground-level, portable 3-high benches unless something more presentable is installed in the next 4 weeks.

http://www.ualbanysports.com/ViewArticle.dbml?DB_LANG=C&ATCLID=210404548&DB_OEM_ID=15800

 

"Gutting" the arena may not be enough. Not sure how many amenities for fans (concessions, permanent less-steep baseline seating, event rooms, convenient restrooms) can be squeezed into SEFCU without expanding the building footprint out to where the sidewalks are now.

[Clickclack]

Our Final-Four, top-10 field hockey team will host the 8-team conference tourney with four teams from the west coast. The championship game on ESPN3 will show off the crowd on ground-level, portable 3-high benches unless something more presentable is installed in the next 4 weeks.

http://www.ualbanysports.com/ViewArticle.dbml?DB_LANG=C&ATCLID=210404548&DB_OEM_ID=15800

 

"Gutting" the arena may not be enough. Not sure how many amenities for fans (concessions, permanent less-steep baseline seating, event rooms, convenient restrooms) can be squeezed into SEFCU without expanding the building footprint out to where the sidewalks are now.

 

There was talk of an entirely new arena some time ago...rumors were they were in serious conversations about it not to mention were getting professional (read architectural/design) input. No idea how far along those plans are and not sure where you would put a new building but SEFCU would be a great place with minimal renovations for things like volleyball etc. 10 mil won't stretch to cover all the needs but even a portion of that is an awesome jumping off point as seed money.

 

If they can swing it in the next 4-6 years, I'd keep raising funds for a new arena. Once a portion of raised funds is sitting, ready to go, petition the state for the rest.

[Dane96]

 

Our Final-Four, top-10 field hockey team will host the 8-team conference tourney with four teams from the west coast. The championship game on ESPN3 will show off the crowd on ground-level, portable 3-high benches unless something more presentable is installed in the next 4 weeks.

http://www.ualbanysports.com/ViewArticle.dbml?DB_LANG=C&ATCLID=210404548&DB_OEM_ID=15800

 

"Gutting" the arena may not be enough. Not sure how many amenities for fans (concessions, permanent less-steep baseline seating, event rooms, convenient restrooms) can be squeezed into SEFCU without expanding the building footprint out to where the sidewalks are now.

 

There was talk of an entirely new arena some time ago...rumors were they were in serious conversations about it not to mention were getting professional (read architectural/design) input. No idea how far along those plans are and not sure where you would put a new building but SEFCU would be a great place with minimal renovations for things like volleyball etc. 10 mil won't stretch to cover all the needs but even a portion of that is an awesome jumping off point as seed money.

 

If they can swing it in the next 4-6 years, I'd keep raising funds for a new arena. Once a portion of raised funds is sitting, ready to go, petition the state for the rest.

 

 

A new building is probably in the 40-50 million range, if not more with the horrible NYS RFP process. Not happening.

You can, however, do many structural things to the SEFCU, including, expanding the building into the parking lot or, the least costly scenario (still very expensive) digging down or putting a "cap" on the building to allow for more room to add seats above. All of that would be extremely aggressive. The consideration for us to remember is that if we get a field house it is likely to have a track. So you can "re-configure" SEFCU with seating that does not worry about the track.

[Michigan_Dane]

A few thoughts.

 

First, adding the second level to the press booth would seem a no brainer. The elevator already goes up that far and the infrastructure is built for it. Second, every luxury box is an income stream. Ultimately it pays for itself.

 

Second, I'm all for endowments especially for football as a hedge against some future anti-football president that wants to slash it. That said, to throw off $30,000 for a scholarship you have to set aside at least $300,000 if not $400,000. At that rate you can't endow more than a dozen full rides.

 

Third, I'm concerned that we need to be smart. We need to use the money to partner with new state money to defray costs. We don't want to use the $10M in lieu of state money. SBU received $20M just for their basketball arena. We need to be better at competing for state money because SBU and Buffalo has been killing us there.

 

Lastly, like point one the field house should largely pay for itself. Think how amazing it is to get $10M for naming rights on a building that only cost $18M to build. The naming rights practically pays for the building. Wouldn't the Field House be in a similar situation? Naming rights there should pick up 40% of the total or more.

[Clickclack]

A few thoughts.

 

First, adding the second level to the press booth would seem a no brainer. The elevator already goes up that far and the infrastructure is built for it. Second, every luxury box is an income stream. Ultimately it pays for itself.

 

Second, I'm all for endowments especially for football as a hedge against some future anti-football president that wants to slash it. That said, to throw off $30,000 for a scholarship you have to set aside at least $300,000 if not $400,000. At that rate you can't endow more than a dozen full rides.

 

Third, I'm concerned that we need to be smart. We need to use the money to partner with new state money to defray costs. We don't want to use the $10M in lieu of state money. SBU received $20M just for their basketball arena. We need to be better at competing for state money because SBU and Buffalo has been killing us there.

 

Lastly, like point one the field house should largely pay for itself. Think how amazing it is to get $10M for naming rights on a building that only cost $18M to build. The naming rights practically pays for the building. Wouldn't the Field House be in a similar situation? Naming rights there should pick up 40% of the total or more.

 

The last paragraph is a very astute point, I've never thought of that but wow...that's pretty significant. 18 million invested to build it and 10 of that came back as this donation...that's pretty incredible.

[Brutus]

A few thoughts.

 

First, adding the second level to the press booth would seem a no brainer. The elevator already goes up that far and the infrastructure is built for it.

 

Adding another level to the press booth is do-able, but may cost more than most people realize. Another level would require additional elevator modifications, build-up of both stair towers, moving HVAC equipment, possibly relocating the broadcast lighting system, etc. Also think about the timeframe required to do the construction.

Edited October 9, 2015 by Brutus

[uofalbany]

Our Final-Four, top-10 field hockey team will host the 8-team conference tourney with four teams from the west coast. The championship game on ESPN3 will show off the crowd on ground-level, portable 3-high benches unless something more presentable is installed in the next 4 weeks.

http://www.ualbanysports.com/ViewArticle.dbml?DB_LANG=C&ATCLID=210404548&DB_OEM_ID=15800

 

"Gutting" the arena may not be enough. Not sure how many amenities for fans (concessions, permanent less-steep baseline seating, event rooms, convenient restrooms) can be squeezed into SEFCU without expanding the building footprint out to where the sidewalks are now.

 

Actually, this is one of those things that would make a huge difference. Hopefully, we can get something respectable in there for the tournament.

 

And we've talked about this before....I think expansion IS necessary, if that building is going to be renovated.

[MRSGDG]

Second, I'm all for endowments especially for football as a hedge against some future anti-football president that wants to slash it. That said, to throw off $30,000 for a scholarship you have to set aside at least $300,000 if not $400,000. At that rate you can't endow more than a dozen full rides.

 

Third, I'm concerned that we need to be smart. We need to use the money to partner with new state money to defray costs. We don't want to use the $10M in lieu of state money. SBU received $20M just for their basketball arena. We need to be better at competing for state money because SBU and Buffalo has been killing us there.

 

I'd guess the $10M is laid out in much more detail in their agreement with the University with exact dollar amounts set aside and rules etc from the family. If I was donating that much I'd want it laid out so that I knew where my money was exactly going. Then again, if I had $10M to donate I wouldn't really know what to do with myself so who knows haha.

 

I saw they posted some pictures of the donors on the TU. They seemed emotional when it was revealed with the balloons which is kinda cool.

 

Have they said yet if they are doing anything at Homecoming about the naming and the family?

Edited October 9, 2015 by MsGDG

[UAalum72]

A new building is probably in the 40-50 million range, if not more with the horrible NYS RFP process. Not happening.

You can, however, do many structural things to the SEFCU, including, expanding the building into the parking lot or, the least costly scenario (still very expensive) digging down or putting a "cap" on the building to allow for more room to add seats above. All of that would be extremely aggressive. The consideration for us to remember is that if we get a field house it is likely to have a track. So you can "re-configure" SEFCU with seating that does not worry about the track.

 

I didn't think it would happen, just trying to be realistic about how much could be done in the building as is. When I said gutting not enough I meant not necessarily a new building but definitely moving the walls. Only question is the cost difference.

 

Seems we ignore the track now anyway.

 

But when people complain about the steepness of the baseline seats, want to "bowl in" the arena or expand the seating, it isn't far enough from the lobby to the opposite wall to do that, nor can you fit it by turning the court 90 degrees . Meanwhile we've only got the lobby and HOF room for the crowd to socialize pregame and halftime, with all 4000 fans going thru the same set of doors..

[Michigan_Dane]

 

 

A few thoughts.

 

First, adding the second level to the press booth would seem a no brainer. The elevator already goes up that far and the infrastructure is built for it. Second, every luxury box is an income stream. Ultimately it pays for itself.

 

Second, I'm all for endowments especially for football as a hedge against some future anti-football president that wants to slash it. That said, to throw off $30,000 for a scholarship you have to set aside at least $300,000 if not $400,000. At that rate you can't endow more than a dozen full rides.

 

Third, I'm concerned that we need to be smart. We need to use the money to partner with new state money to defray costs. We don't want to use the $10M in lieu of state money. SBU received $20M just for their basketball arena. We need to be better at competing for state money because SBU and Buffalo has been killing us there.

 

Lastly, like point one the field house should largely pay for itself. Think how amazing it is to get $10M for naming rights on a building that only cost $18M to build. The naming rights practically pays for the building. Wouldn't the Field House be in a similar situation? Naming rights there should pick up 40% of the total or more.

The last paragraph is a very astute point, I've never thought of that but wow...that's pretty significant. 18 million invested to build it and 10 of that came back as this donation...that's pretty incredible.

I know. Amazing. A $10M check for naming rights on a $18M building. They are covering 60% of the cost of construction. The state kicked in $10M so it was really free to UA.

 

If you can get that payback ratio on a field house then start digging tomorrow.

[UA'08]

 

A new building is probably in the 40-50 million range, if not more with the horrible NYS RFP process. Not happening.

You can, however, do many structural things to the SEFCU, including, expanding the building into the parking lot or, the least costly scenario (still very expensive) digging down or putting a "cap" on the building to allow for more room to add seats above. All of that would be extremely aggressive. The consideration for us to remember is that if we get a field house it is likely to have a track. So you can "re-configure" SEFCU with seating that does not worry about the track.

 

I didn't think it would happen, just trying to be realistic about how much could be done in the building as is. When I said gutting not enough I meant not necessarily a new building but definitely moving the walls. Only question is the cost difference.

 

Seems we ignore the track now anyway.

 

But when people complain about the steepness of the baseline seats, want to "bowl in" the arena or expand the seating, it isn't far enough from the lobby to the opposite wall to do that, nor can you fit it by turning the court 90 degrees . Meanwhile we've only got the lobby and HOF room for the crowd to socialize pregame and halftime, with all 4000 fans going thru the same set of doors..

 

How about a plan for building a new gym for students/faculty and turning the current one into space for Pregame/Halftime?

 

Maybe build a gym in the Campus Center? Haven't been there in ages, but could that work?

Edited October 9, 2015 by UA'08

[Phoenix]

I guess some of it is semantics..but I don't see this as $10M for "naming rights" to the stadium. The family/foundation donated $10M..to be used for X, Y & Z..and part of that/in recognition of that..the university named the stadium after their family. It sounds like some of that $10M is going to be used for things completely unrelated to the stadium.

 

And comparing the $10M donation vs. $18M construction cost really ignores the fact that there are new maintenance/operation costs associated with the stadium..which would be ongoing and in addition to the $18M for construction. It sounds like a portion of the donation will go towards supporting/offsetting some of those costs.