Let's pile on Gillin!!!!!

[appst89]

I have not reviewed any financial information related to East Side.. however, in theory, long-term, isn't the revenue from the east supposed to provide more revenue so we can get better players? If revenue from East side can be used for nil.

In theory, yes, but that assumes a product that people want to see.

[Saint3333]

How many seats will be included in the east side expansion and how much does it cost?

Assuming it's $80M (up from the $50M three years ago before construction costs skyrocketed) and 3k seats at $1,500 each, that's a 18 year payback. That doesn't pencil out. If we receive large donations for a portion of it that would help.

Sounds like a lot of debt...

[AppGrad78]

How many seats will be included in the east side expansion and how much does it cost?

Assuming it's $80M (up from the $50M three years ago before construction costs skyrocketed) and 3k seats at $1,500 each, that's a 18 year payback. That doesn't pencil out. If we receive large donations for a portion of it that would help.

Sounds like a lot of debt...

I haven’t seen the projections but I think your $1,500 is off by a considerable amount.

[fjblair]

As stated above, ditch the east side idea for now and spend the dollars to get better players. Our attendance is already slipping.( Decrease in attendance each home game.) Winning has usually cured most things . Get better players - win more games.

The irony is that is one of the primary reasons attendance is slipping.

[APPdiesel]

Disappointed but unsurprised that the score act didn’t even make it to a vote. It would’ve given the CSC power to set some enforceable rules.

[Saint3333]

How many seats will be included in the east side expansion and how much does it cost?

Assuming it's $80M (up from the $50M three years ago before construction costs skyrocketed) and 3k seats at $1,500 each, that's a 18 year payback. That doesn't pencil out. If we receive large donations for a portion of it that would help.

Sounds like a lot of debt...

I haven’t seen the projections but I think your $1,500 is off by a considerable amount.

That is based on a premium to the current rates of the NEZ and West Tower per year, not including the capital contribution.

I'm open to feedback in either direction, what's your estimate.

[BambooRdApp]

How many seats will be included in the east side expansion and how much does it cost?

Assuming it's $80M (up from the $50M three years ago before construction costs skyrocketed) and 3k seats at $1,500 each, that's a 18 year payback. That doesn't pencil out. If we receive large donations for a portion of it that would help.

Sounds like a lot of debt...

I haven’t seen the projections but I think your $1,500 is off by a considerable amount.

Similar to West side club and the more premium seats...I believe there will be an initial contribution that will be a decent amount. Then you get into the season ticket cost.

[BallantyneApp]

How many seats will be included in the east side expansion and how much does it cost?

Assuming it's $80M (up from the $50M three years ago before construction costs skyrocketed) and 3k seats at $1,500 each, that's a 18 year payback. That doesn't pencil out. If we receive large donations for a portion of it that would help.

Sounds like a lot of debt...

I haven’t seen the projections but I think your $1,500 is off by a considerable amount.

That is based on a premium to the current rates of the NEZ and West Tower per year, not including the capital contribution.

I'm open to feedback in either direction, what's your estimate.

it depends on how much cash we have to throw at the tower. If we went into debt for the total cost- $80MM the repayment at a probably too low rate of 5% APY would be 45 years @ $4.5MM/year installments. $50MM would be closer to your estimate.

I agree overall that either way you spend it at what we can sell the seats doesn't seem to make sense. Add onto that if the football team doesn't turn around you won't be able to sell the seats at all and I think everyone is right that the best investment we can make short and long term is to put as much into the competitiveness of the team as possible.

[BeauFoster]

How many seats will be included in the east side expansion and how much does it cost?

Assuming it's $80M (up from the $50M three years ago before construction costs skyrocketed) and 3k seats at $1,500 each, that's a 18 year payback. That doesn't pencil out. If we receive large donations for a portion of it that would help.

Sounds like a lot of debt...

I haven’t seen the projections but I think your $1,500 is off by a considerable amount.

Similar to West side club and the more premium seats...I believe there will be an initial contribution that will be a decent amount. Then you get into the season ticket cost.

This is correct. There’s a graduated requirement for seats, depending on club or loge. Club starts at $25k for up to 4 seats.

There’s also suites, and we have a waiting list for suites on the west side, so the expectation is those will fill, as well. They’re significantly more than club and loge.

[AppSt94]

How many seats will be included in the east side expansion and how much does it cost?

Assuming it's $80M (up from the $50M three years ago before construction costs skyrocketed) and 3k seats at $1,500 each, that's a 18 year payback. That doesn't pencil out. If we receive large donations for a portion of it that would help.

Sounds like a lot of debt...

You aren’t factoring in the cost of the suites. There is a significant initial investment for those that want them. That is separate from the annual fees.

[appgrad95&97]

Why are we even talking about an expansion we don't have the money for? That's a serious question. We went into debt for the NEZ. We went into debt for the 105 project. We went into debt for the IPF. Athletics' debt in 2018 was about $40m, now it's about $70m. These projects might pay for themselves over time, but this feels like buying five houses because, they will eventually appreciate and you can earn rental income on them. I accept that, but who would buy another three houses? The debt service payments come at the expense of other things. I don't get it, but I'm open to hearing the other side.

[spacemonkey]

This thread has gone off the rails...so...I will take it off the rails some more. If we are going to go into debt we should go into debt and build a medical school. It will be by far our best return on investment and it should happen in Hickory.

We could easily replace Wake Forest. We need the facility and they will come. ECU is killing us with medical professional donations. UNCC will if they get it before us. THIS SHOULD BE OUR NUMBER 1 PRIORITY AS A SCHOOL. The western part of the state needs a medical school and hospital.