Kennedy vs. Engelstad Foundation: GF herald feature

[UND1983]

1 minute ago, Frozen4sioux said:

Thats an assumed generalization that inflames the narrative, we may be actually narrowing down the nuts and bolts here. 

What would REA need UND "bailing them out on"?

 

I don't know.  Why do you just automatically assume that McGarry is right about everything she says and Kennedy is wrong?  

[Frozen4sioux]

10 minutes ago, UND1983 said:

I don't know.  Why do you just automatically assume that McGarry is right about everything she says and Kennedy is wrong?  

Track record. 

But heres the telling truth,  we dont know what the exact issue and what value it has to each party.

I think we both want to know that.

[darell1976]

Just now, Frozen4sioux said:

Track record. 

But heres the telling truth,  we dont know what the exact issue and what value it has to each party.

I think we both want to know that.

Hopefully someone else was there or was their recordings of the conversation. The he said-she said thing could go either way, but like you said Kennedy’s track record isn’t the best plus public opinion on him compared to someone named Engelstad isn’t in his favor.

[Siouxperfan7]

3 minutes ago, darell1976 said:

Hopefully someone else was there or was their recordings of the conversation. The he said-she said thing could go either way, but like you said Kennedy’s track record isn’t the best plus public opinion on him compared to someone named Engelstad isn’t in his favor.

The Engelstad name isn't exactly the squeakiest of clean either.  

[darell1976]

10 minutes ago, Siouxperfan7 said:

The Engelstad name isn't exactly the squeakiest of clean either.  

I know they are anti change when it comes to the name, and I’m sure (even though Kris denies it) the nickname change is part of this, but what else could be sour between the Engelstads and Kennedy that is not nickname related? 

[BarnWinterSportsEngelstad]

58 minutes ago, Frozen4sioux said:

Kennedy's response seems a very political and non-engaging one. "What do mean there's a problem?" ... Arrogant. Insulting to the parties involved I would think, which tends to back up the trends and claims about Kennedy being bullish or standofish at best and disinterested in UND at the worst. 

I was really in favor of Kennedy at first, I disagree and have been disapointed in body of work so far.

What I would like to know is if the money that REA takes as part of the agreement goes into the foundation that benefits University.....

Is the arguement really just semantics of where money lays on budget reports?

McGarry isnt taking profit out of the deal at all right?  

If the money REA takes in goes to maintain the facility and support student athletes how is this a bad thing.

I gues objectively its important to follow the money, and ask those questions. What really is the problem here?

How is UND effected by receiving the money they get from the REA?...

What is the requested change to the agreement? How does that make UND or the arena better off?

How exactly is UND Athletics hurt by the current situation?

 

These are questoins we should find the answers to and maybe add some more.

As supporters of UND, season ticket holders, alumni, employees, concered citizens, and etc. wouldn't it be good to understand how The Ralph relationship works????

I am an alumni, supporter, and season ticket holder in MH & FB, am concerned, and would like to know. They raise season ticket prices and where does that money go?

My understanding from the beginning was UND owned the land and always will.

Ralph Engelstad Arena Inc. or something close owns the improvements on the land till 2030 when UND will get them.

Evidentally, there is another entity in place a Engelstad Foundation.

There is a board of directors, are they only to the Ralph Engelsated Arena, Inc.????

Who is in charge of the Engelstad Foundation?

Where does the CC $ go?

Where does all the ticket money go?  Concessions and so on ? 50/50 raffle, who has the gaming license, maybe alumni office?

How does the Engelstad Foundation get it's money and who decides where it goes, some GF Herald ink on UNLV got more than UND? Is this all money orginated from The Ralph?

[gfhockey]

Engelstad s have no reason to lie

 

they don’t care it’s their money and they can do what they want with it

 

we act like we are entitled to it

[BarnWinterSportsEngelstad]

3 minutes ago, gfhockey said:

Engelstad s have no reason to lie

 

they don’t care it’s their money and they can do what they want with it

 

we act like we are entitled to it

There's the big ?

And it's partly in my list. Is money from the Ralph going into this Foundation or are the Engelstads reloading it?

Is there another entity that runs the building?

[Frozen4sioux]

I think a solid new organization would be able to get to the bottom of the questions I and BarnWintersportsEngelstad raised.

Thatbis reporting that would be valuable to the community and help everyone understand. 

[TheFlop]

1 hour ago, Teeder11 said:

Many of them really shouldn't be b!tching after so many years of zero accountability.  I know, I know.... it's tough when someone comes in and actually demands proof of results.

Pretty general statement.  Which professors weren't getting results that were asked to leave/nudged out?  Who determined they weren't meeting expectations and what metric was used?  Who's getting President Dayton his afternoon cup of coffee while his few supporters willing to blindly follow him burn up state time on a message board?

[SIOUXFAN97]

did ralphs daughter and wife questioning why ralph would want to build a building in the middle of nowhere and since he's died the daughter and "foundation" have tried ways to get that 100 million dollars back one way or other and when a third party person "kennedy" looks at the numbers and shakes his head about "WHERE IS ALL THIS MONEY GOING"?

[jdub27]

Here's the outline of the relationship and most recent year's financials. Not sure why the Herald doesn't bother to post it.

Quote

RE Arena Inc. manages, operates and maintains an arena known as the Ralph Engelstad Arena (REA), which was constructed in 2001 for the benefit of UND Athletics. UND and RE Arena Inc. enter into an operating agreement. The operating agreement sets forth the facility usage, fees and services, ticket administration and revenue allocation, sponsorship sales administration and revenue allocation, and net income disposition. In accordance with this agreement (1) RE Arena Inc. collects all ticket revenue from ticketed UND athletic events (men’s and women’s hockey, football, men’s and women’s basketball, and volleyball), RE Arena Inc. retains 52 percent of such ticket revenue and remits 48 percent to UND; and (2) If RE Arena Inc. collects sponsorship sales revenue from UND athletic events at the arena, RE Arena Inc. retains 64 percent of such sponsorship revenue, net of direct costs, and remits 36 percent to UND. In addition, UND and RE Arena recognize the mutual benefit by UND Athletics and REA in collaborating on marketing and sales functions for the UND enterprise. 

 

Quote

In fiscal year 2017, gross tickets sales were $4.6 million of which RE Arena, Inc. recognized revenue of $2.4 million with a net due to UND $2.2 million. Gross ticket sales for the next athletic season year are recorded in deferred revenue at gross by RE Arena, Inc. for a total of $2.7 million.

RE Arena, Inc. recognized net sponsorship (advertising) revenue of $769,000 and the net due UND in sponsorship (advertising) income of $432,000.

RE Arena, Inc. recognizes box office revenue on a cost reimbursement basis, for ticket facility fees, credit card fees and payment plan fees and expenses. The total cost that the UND Athletic Department reimbursed RE Arena, Inc. for managing and administering the box office on their behalf was $247,000.

In addition, RE Arena, Inc. allocated $750,000 of net income to the UND Athletic Department for the year ended May 31, 2017.

RE Arena, Inc. expensed $1.1 million to UND for utilities, maintenance staff, phone service and other expenses.

At the end of the fiscal year RE Arena, Inc. owes UND $813,000 for the annual operating agreement and monthly services. UND owes RE Arena, Inc. $55,000 for box office income for the same period.

 

[TheFlop]

Based on recent events, Engelstad has more credibility based on what is known so far.  Could always change, but she spent an awful lot of effort to make sure her experience with Kennedy was heard.  Could there be dirt on her too?  Sure.  But she lives halfway across the country and wouldn't care less about UND if it hadn't been for her dad.  UND is like that distant cousin to her that she sends a monetary gift to every so often because her dad instructed her too.  She doesn't care what UND or anyone associated with it thinks of her.  My opinion is she got p*ssed off at Kennedy's pompous entitled attitude and she came up to straighten him out.  

[HawksHoops]

2 minutes ago, TheFlop said:

Based on recent events, Engelstad has more credibility based on what is known so far.  Could always change, but she spent an awful lot of effort to make sure her experience with Dayton was heard.  Could there be dirt on her too?  Sure.  But she lives halfway across the country and wouldn't care less about UND if it hadn't been for her dad.  UND is like that distant cousin to her that she sends a monetary gift to every so often because her dad instructed her too.  She doesn't care what UND or anyone associated with it thinks of her.  My opinion is she got p*ssed off at Dayton's pompous entitled attitude and she came up to straighten him out.  

Sorry I'm confused.  Who is Dayton?

[Teeder11]

9 minutes ago, TheFlop said:

Pretty general statement.  Which professors weren't getting results that were asked to leave/nudged out?  Who determined they weren't meeting expectations and what metric was used?  Who's getting President Dayton his afternoon cup of coffee while his few supporters willing to blindly follow him burn up state time on a message board?

Do you want the full list? The college deans have the assessment tools that are being used as well as the metrics.... you might want to do a FOIA request and get it right from them.  In the meantime, if the shoe fits, they can wear it.

[Frozen4sioux]

7 minutes ago, SIOUXFAN97 said:

did ralphs daughter and wife questioning why ralph would want to build a building in the middle of nowhere and since he's died the daughter and "foundation" have tried ways to get that 100 million dollars back one way or other and when a third party person "kennedy" looks at the numbers and shakes his head about "WHERE IS ALL THIS MONEY GOING"?

Thats got to be close to the dumbest thing ive seen on this site.

[Teeder11]

2 minutes ago, Frozen4sioux said:

Thats got to be close to the dumbest thing ive seen on this site.

Not even close. 

[TheFlop]

6 minutes ago, jdub27 said:

Here's the outline of the relationship and most recent year's financials. Not sure why the Herald doesn't bother to post it.

 

 

Interesting and good post.  I'm not an accountant good at crunching these numbers, but at initial glance it appears that neither REA or UND is is showing a huge profit or loss as a result of this deal.  Most college sports don't actually make money.  I think besides the budget numbers you cited, it's important to note the total benefit (in addition to money) that REA provides.  How many people in Grand Forks, the surrounding community, and ND in general benefit from getting to enjoy the events hosted there including hockey, concerts, etc.

[Frozen4sioux]

Jdub27 that has been posted before, thank you it provodes some background but doesnt really answer the question.

What amounts are in contention? percentages? Dollars? 

How much money is this fight over?

That is the story I would pay to read?

If I was guessing.... it is a significant amount to make REA go on the offensive.

Although it could be a smaller amount and Kennedy is trying to take a stand on it, which would be foolish. Whichbis completely possible.

 

[TheFlop]

6 minutes ago, HawksHoops said:

Sorry I'm confused.  Who is Dayton?

Fixed it.  Whoever he is his ears must be ringing what the heck he did wrong.

[HawksHoops]

1 minute ago, Frozen4sioux said:

Jdub27 that has been posted before, thank you it provodes some background but doesnt really answer the question.

What amounts are in contention? percentages? Dollars? 

How much money is this fight over?

That is the story I would pay to read?

If I was guessing.... it is a significant amount to make REA go on the offensive.

Although it could be a smaller amount and Kennedy is trying to take a stand on it, which would be foolish. Whichbis completely possible.

 

What's so frustrating about this article is the amount of conjecture required by those of us with limited knowledge of the situation.  Why can't the Herald truly research the topic, ask the hard questions and supply the answers rather than writing an incomplete piece?    You are right in asking for the local paper to do more.

[Frozen4sioux]

1 minute ago, TheFlop said:

 How many people in Grand Forks, the surrounding community, and ND in general benefit from getting to enjoy the events hosted there including hockey, concerts, etc.

 The economic impact on the Forks from the REA is a huge factor in why the outrage over creating a ruse amongst the parties is happening.

There has to be a great reason, or there isn't..... and right now the overwhelming sentiment is that there is no good reason for Kennedy to pick this fight.

I want to know the truth.

[HawksHoops]

4 minutes ago, TheFlop said:

Fixed it.  Whoever he is his ears must be ringing what the heck he did wrong.

I though maybe you were posting on a MN politics board at the same time. 

[TheFlop]

7 minutes ago, Teeder11 said:

Do you want the full list? The college deans have the assessment tools that are being used as well as the metrics.... you might want to do a FOIA request and get it right from them.  In the meantime, if the shoe fits, they can wear it.

Good idea...........safe to say I should be hoping that Kennedy actually ordered there to be written documentation instead of the infamous consultant review of athletics that cost thousands of dollars but didn't result in any written documentation?

[jdub27]

15 minutes ago, TheFlop said:

Based on recent events, Engelstad has more credibility based on what is known so far.  Could always change, but she spent an awful lot of effort to make sure her experience with Kennedy was heard.  Could there be dirt on her too?  Sure.  But she lives halfway across the country and wouldn't care less about UND if it hadn't been for her dad.  UND is like that distant cousin to her that she sends a monetary gift to every so often because her dad instructed her too.  She doesn't care what UND or anyone associated with it thinks of her.  My opinion is she got p*ssed off at Kennedy's pompous entitled attitude and she came up to straighten him out.  

Still doesn't explain why she's calling the Herald, unprompted, for a sit down interview. If she could not care less about UND, why take the time to start what she knew was going to be a giant mess and drag everyone through the mud? If she doesn't care what anyone thinks, the easy answer is to just ignore Kennedy and quit giving money. This was set off for a reason.