Kennedy vs. Engelstad Foundation: GF herald feature

[nodak651]

1 minute ago, UNDBIZ said:

The 52% was implemented with the construction of the Betty.  I'd assume at the time, they looked at the costs and said they would need "X" revenue to cover the cost of the bond.  52% was what was needed to generate that revenue.  Whether that's still the case with the increase in ticket revenue is up for debate.

So in reality, the Engelstads didn't donate the money for the Betty.

[Siouxperfan7]

13 minutes ago, sprig said:

At face value 52% seems like too much, but there is no one here that can explain why UND agreed with it. Certainly you are clueless.

Until someone involved in negotiations explains it,  well just continue to run around in circles here. It's become a waste of time. 

This is an online message board. The epitome of a "waste of time." 

[SWSiouxMN]

The offseason sucks

Lets get to August already. 

 

 

 

[Walsh Hall]

6 hours ago, nd1sufan said:

I do realize that there are expenses to selling tickets. But if those expenses are costing you 52% of the ticket revenue, you are doing it wrong. The staff at the REA selling FB tickets will be there anyway selling for other events. If it would take say 5 to 10% that would be reasonable for FB tickets. If UND hired one or two people to sell FB tickets on their own, maybe it would cost them 15 to 20%, not anywhere close to 52%. 

One or two people handle all entrances, ticketing, sales, scanning, reentry, set up the system, monitor the system...  for a football or hockey game?  Good luck with that

[Siouxphan27]

2 hours ago, nodak651 said:

So in reality, the Engelstads didn't donate the money for the Betty.

I've heard rumblings about changing the name to the Bet You Don't Know Who Really Paid For This.....Who? Center.  

[UNDColorado]

2 hours ago, Walsh Hall said:

One or two people handle all entrances, ticketing, sales, scanning, reentry, set up the system, monitor the system...  for a football or hockey game?  Good luck with that

I believe this would be Alerus Center staff...including people who buy tickets day of at the window.

[BarnWinterSportsEngelstad]

2 hours ago, nodak651 said:

So in reality, the Engelstads didn't donate the money for the Betty.

 

7 minutes ago, Siouxphan27 said:

I've heard rumblings about changing the name to the Bet You Don't Know Who Really Paid For This.....Who? Center.  

I don't have time to dig for this today, but from my recolection:

Betty donated some $ for The Betty

[BarnWinterSportsEngelstad]

3 hours ago, Siouxperfan7 said:

This is an online message board. The epitome of a "waste of time." 

It used to be entertainment with Moser and DaveK?

[Milford torgerson]

5 hours ago, nodak651 said:

Anyone know when our AD is going to begin his podcast?  He said he want's to do a monthly podcast to clear things like this up.  Believe he did this at EWU, as well.

He isn’t going to say anything more than what’s been said on this board .  Those that know are staying silent and the AD will tiptoe around it.

 

[FSSD]

13 hours ago, nd1sufan said:

I do realize that there are expenses to selling tickets. But if those expenses are costing you 52% of the ticket revenue, you are doing it wrong. The staff at the REA selling FB tickets will be there anyway selling for other events. If it would take say 5 to 10% that would be reasonable for FB tickets. If UND hired one or two people to sell FB tickets on their own, maybe it would cost them 15 to 20%, not anywhere close to 52%. 

Again, one of the advantages of having the current setup is that UND could use bonds for the building of the Betty.  UND didn't have to wait for all the fund raising like NDSU and BSA.

http://www.theralph.com/about-the-arena/the-betty

$8 million dollar facility

Current balance: 1.4 million - maturity date of 2020.

To all the Bison fans - have you paid the Fargo Dome for the upgrades completed as part of the move to FCS?  Just asking for a friend.

 

 

[nd1sufan]

18 minutes ago, FSSD said:

Again, one of the advantages of having the current setup is that UND could use bonds for the building of the Betty.  UND didn't have to wait for all the fund raising like NDSU and BSA.

http://www.theralph.com/about-the-arena/the-betty

$8 million dollar facility

Current balance: 1.4 million - maturity date of 2020.

To all the Bison fans - have you paid the Fargo Dome for the upgrades completed as part of the move to FCS?  Just asking for a friend.

 

 

 

The Fargodome is actually generally profitable and pays for most upgrades on their own,  and they don't take 52% of the FB, BB and VB ticket revenue.  I know, I don't get it. It really does take collecting 52% of all ticket revenue from a school to make n arena function.  UND is on the cutting edge and when all other schools realize they are doing it wrong, they will feel like fools. But I for one am sure glad NDSU didn't get the kind of "donation" UND got from the Engelstad's. 

[BarnWinterSportsEngelstad]

 

3 hours ago, nd1sufan said:

The Fargodome is actually generally profitable and pays for most upgrades on their own,  and they don't take 52% of the FB, BB and VB ticket revenue.  I know, I don't get it. It really does take collecting 52% of all ticket revenue from a school to make n arena function.  UND is on the cutting edge and when all other schools realize they are doing it wrong, they will feel like fools. But I for one am sure glad NDSU didn't get the kind of "donation" UND got from the Engelstad's. 

Neither does the Alerus.

 

 

 

 

 

 

 

 

 

 

 

 

UND Athletic Department & The Ralph

 

 

Again, thx for coming way over here and helping out.

[SiouxVolley]

After the Ralph was operational, then women’s hockey was started.  That additional cost might have been known when the 52% was agreed upon.  So it would not have been the Betty to be paid for.  Getting rid of a $2million annual liability changes things.  $2 mill annual payments is much more than the Betty’s cost.  Makes sense that Kennedy wanted the agreement altered.

[SWSiouxMN]

http://www.grandforksherald.com/opinion/editorials/4466580-our-view-20-million-thats-lot-money

More silliness from the UND faculty.

Was it mentioned in the original article that the relationship wasn't great in previous administrations?

[SiouxVolley]

10 hours ago, SWSiouxMN said:

http://www.grandforksherald.com/opinion/editorials/4466580-our-view-20-million-thats-lot-money

More silliness from the UND faculty.

Was it mentioned in the original article that the relationship wasn't great in previous administrations?

The Engelstad’s haven’t forgot about Greater Grand Forks.  They just gave $2.5 mill to a Sacred Heart addition.

[southpaw]

17 hours ago, SWSiouxMN said:

http://www.grandforksherald.com/opinion/editorials/4466580-our-view-20-million-thats-lot-money

More silliness from the UND faculty.

Was it mentioned in the original article that the relationship wasn't great in previous administrations?

This reads like the Herald was fine using a quote from Murphy to show Kennedy could have a bad review. That wasn't the case, so the Herald is going after another quote Murphy made. 

[UNDBIZ]

http://www.grandforksherald.com/news/education/4486523-ralph-engelstad-arena-distributes-1-million-und

Quote

The Ralph Engelstad Arena announced its annual distribution to UND on Thursday.

This year's distribution is $1 million.

The paper, with McGarry's quote, appears to be trying to make it look like this came from McGarry and the Engelstad Foundation.  Am I still not understanding the REA Inc relationship, or is the paper just being misleading?

[nodak651]

24 minutes ago, UNDBIZ said:

http://www.grandforksherald.com/news/education/4486523-ralph-engelstad-arena-distributes-1-million-und

The paper, with McGarry's quote, appears to be trying to make it look like this came from McGarry and the Engelstad Foundation.  Am I still not understanding the REA Inc relationship, or is the paper just being misleading?

Totally agree.  She makes it sound like it's a donation.  THIS IS UND's MONEY - NOT HERS.  

“This significant figure marks our continued commitment to UND and the surrounding community,” Kris Engelstad McGarry, of the Engelstad Foundation, said in a statement. “This commitment has lasted for 60-plus years, stemming from my parents’ passion for UND and extending well in to our present-day efforts to support and enhance all that the university has to offer.”

 

[SWSiouxMN]

How much does this compare to previous years?

[UNDBIZ]

Just now, SWSiouxMN said:

How much does this compare to previous years?

Click the link 

[SWSiouxMN]

Just now, UNDBIZ said:

Click the link 

Yeah that might help, when I saw it earlier it didn't specify an amount.

 

[jdub27]

I'm glad to hear the amount was they high. 

That being said, literally the only other option they have is to spend the money on the arena. It's a nonprofit set up for the benefit of UND. Even though a large portion of the fans would probably rather see that, a significant investment on unnecessary items would not make for good optics with recent budget situations. I know they are aware of this because there are at least one or two sizable projects that have been delayed. 

[UND1983]

17 minutes ago, jdub27 said:

I'm glad to hear the amount was they high. 

That being said, literally the only other option they have is to spend the money on the arena. It's a nonprofit set up for the benefit of UND. Even though a large portion of the fans would probably rather see that, a significant investment on unnecessary items would not make for good optics with recent budget situations. I know they are aware of this because there are at least one or two sizable projects that have been delayed. 

Let's all show our appreciation for the hockey team delaying their locker room remodel.  They are really up against it working with that setup.  

[cberkas]

On 8/16/2018 at 8:45 PM, UND1983 said:

Let's all show our appreciation for the hockey team delaying their locker room remodel.  They are really up against it working with that setup.  

Didn’t they just do that?

[UNDBIZ]

Priorities...