re: Yulman Stadium Capacity-24,000

I'm want to check out a game there too, probably the Ga Tech game, LSU plays a pansy that night anyway

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they'll make a lot of money on the stadium, especially as there's no debt service.

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You sure about that?

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Maybe I am misunderstanding you, but there is certainly debt associated with this project, that will need to be serviced. There are 2 more bond series which have the stadium listed as financing purpose.

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Yeah, the marquee high school games should showcase some nice talent.

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that ain't happening

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MasterofTigerBait

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Whats funny about my statement? There are three high school stadiums in Texas that seat over 20K fans. You acting like it was such an absurd notion is simply incorrect.

I've got no issue with the capacity of Yulman. I think its perfect for what Tulane is trying to do, right now.

Dont make me regret giving out goodwill to Greenies.

I think Tulane having their own stadium is definitely a positive but man that is one ugly arse stadium.

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I was initially responding to JEAUXBLEAUX who acted like Tulane's stadium size is typical of a small Texas HS which is patently false.

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Gotcha.

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lol chill brah, technically you were 1k short

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technically 7.

SRO is counted as part of your total capacity thus Tulane's is technically 30k (though it is true seating capacity is just 24k according to the article)

for example, counting SRO is how Jerry is able to say Cowboys stadium holds over 100k.

in fact, there are a few school's and teams that will also sometimes count all the people like ushers and concessions sales staff as people who are "at" the game.

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, at the time of the issue, (over a year ago) there were nearly $50 mill in donations (pledges+receipts)

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$40M in pledges +$7M in receipts. Pledges are not guaranteed by any means, and there is not timetable for collection. This isn't exactly A/R, people will pay when they are ready, and would probably lie to see the stadium and how they use it.

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they expect to have it all covered

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Says they expected to receive $8M more by the time of the completion date, doesnt say they expect to have it all covered; in fact, they give no guarantee they will collect any of the additional pledges. Per the Bond Official Statement:

$7M in Current Donations (at time of financing)
$35M Series 2013A applied
$12M Series 2013C applied
$8M in Donations expected between debt offering and completion
$62M which agrees to total projected cost at time of offering

Regardless, lets say they collect all of their pledges. This project is over budget. See quote from Rick Dickson below:

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he other part is that I’m in this office so infrequently because this is turning out to be above $75 million project and it was initially set out to be about $50 million

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LINK

Point being, even if they collect every dollar from initial pledges, they went 50% over at $25M. They already spent the borrowed funds on the stadium, and will therefore have to use stadium revenue to service that debt.

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So they may keep the donations in a separate invested account and use it to pay off the bonds, as many NFPs and FPs do.

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They have spent every dollar as it came through the door.

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They have spent every dollar as it came through the door.

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No they haven't. Every dollar, obviously, is encumbered when it comes through the door, to the project or to the debt service. But they expect to have the 70 mill raised. And if they don't, the debt service is low anyway for a stadium, especially at the selling prices (the 2K donation seats have been sold out for weeks; most of the 25K and 50K boxes are sold).

Yeah bc the uptown hs that would play there suck...

I still think if tulane ever hosts another powerhouse, it has to be in the Dome. p5 programs won't agree to play there