Kennedy vs. Engelstad Foundation: GF herald feature

[Oxbow6]

13 minutes ago, Siouxperfan7 said:

http://www.grandforksherald.com/news/education/4448700-engelstad-arena-governed-complex-mix-entities

Where was the journalistic reporting in this article that one or all those entities was/is "robbing" dollars from the FB program?

[The Sicatoka]

And I don't even get named as having contributed to that article.
Most of that is stuff I put into this thread over the last couple weeks. 

[The Sicatoka]

Why are we so wound up over a person who has clearly signaled that they have no affiliation to UND and really hasn't contributed significantly to UND directly since completing a decade-long pledge? 

Ralph is not Kris; Kris is not Ralph, and she's said as much. 

Heck, even when she has affiliation she's having issues (see $14 million to UNLV). 

[90siouxfan]

Pure speculation on my part, but do you wonder if the handling of football ticket sales revenue was to make sure that the hockey program remains the top sport and football doesn't swoop in and raid any of gift?

 

Sic,  I guess even though she is not Ralph and has not given UND as much, she does play a hand in many facets of Ralph's gift and should be treated with the respect given to any donor, big or small.  Calling her names is so childish, I just cannot fathom that a UND graduate would show such immaturity. 

[Siouxperfan7]

26 minutes ago, The Sicatoka said:

Why are we so wound up over a person who has clearly signaled that they have no affiliation to UND and really hasn't contributed significantly to UND directly since completing a decade-long pledge? 

Ralph is not Kris; Kris is not Ralph, and she's said as much. 

Heck, even when she has affiliation she's having issues (see $14 million to UNLV). 

Yeah, she is kind of a Rebel.....

[The Sicatoka]

4 hours ago, 90siouxfan said:

Calling her names is so childish, ... 

Um, what? Can you show me where I've called her names? 

[SiouxVolley]

41 minutes ago, 90siouxfan said:

Pure speculation on my part, but do you wonder if the handling of football ticket sales revenue was to make sure that the hockey program remains the top sport and football doesn't swoop in and raid any of gift?

 

Sic,  I guess even though she is not Ralph and has not given UND as much, she does play a hand in many facets of Ralph's gift and should be treated with the respect given to any donor, big or small.  Calling her names is so childish, I just cannot fathom that a UND graduate would show such immaturity. 

Fb was included in the REA’s take to help pay for the Betty bonds, IMHO, to make that work.

Now if UND is being gifted a new fb stadium at Ray Richards, Kennedy would be negligent not to demand less fb take by the REA.

But I’m just an idiot according to posters here. 

[The Sicatoka]

When is/was The Betty paid off? 

[UND-FB-FAN]

2 hours ago, Oxbow6 said:

Where was the journalistic reporting in this article that one or all those entities was/is "robbing" dollars from the FB program?

 

Quote

For his part, the president has said relations between the two have been civil. If there have been any disagreements, Kennedy said, they have arisen in the course of ensuring the arena is operated to fulfill the wishes of its donor as laid out in original gift documentation—namely, that the arena is run in all ways with the goal of benefiting UND and its athletic department.

The foundational documents, Kennedy has previously said, deal with both (1) the financial distributions from the the stadium to the university "as well as (2) the conduct of activities within the Ralph to the benefit of the UND athletic program."

 

#1 - Financial distributions should at least be 50/50 but preferably more of a split in favor of The University of North Dakota (e.g., 60/40 UND). REA does not need majority (52%) of ticket revenue (that's DII line of thinking).

#2 - Put the damn Fighting Hawk logo on mid-court and stop avoiding that inevitable image. 

[UND1981]

32 minutes ago, UND-FB-FAN said:

#2 - Put the damn Fighting Hawk logo on mid-court and stop avoiding that inevitable image. 

I can agree with your point #1.  However, I would compromise on your point #2 with KEM if I were Kennedy and leave the FHs on the sidelines.

[UND-FB-FAN]

2 minutes ago, UND1981 said:

I can agree with your point #1.  However, I would compromise on your point #2 with KEM if I were Kennedy and leave the FHs on the sidelines.

If that accomplishes #1, I agree.

[Milford torgerson]

3 hours ago, Oxbow6 said:

Where was the journalistic reporting in this article that one or all those entities was/is "robbing" dollars from the FB program?

And what does Strinden receive for sitting on three of the governing boards.  Who knows what will be revealed as this scuttle moves forward.  There was no journalism in this article.  It left many questions.

[UNDBIZ]

Just now, Milford torgerson said:

And what does Strinden receive for sitting on three of the governing boards.  Who knows what will be revealed as this scuttle moves forward.  There was no journalism in this article.  It left many questions.

Agreed.  There are a bunch of board members outside of the Engelstad Foundation people.  Where are they?

[jdub27]

1 hour ago, The Sicatoka said:

When is/was The Betty paid off? 

2020

 

18 minutes ago, Milford torgerson said:

And what does Strinden receive for sitting on three of the governing boards.  Who knows what will be revealed as this scuttle moves forward.  There was no journalism in this article.  It left many questions.

Per the tax returns, he doesn't receive any compensation from any of the three main entities. 

[The Sicatoka]

28 minutes ago, jdub27 said:

Per the tax returns, he doesn't receive any compensation from any of the three main entities. 

I gave links in this thread to all the Form 990s I could find for arena related entities.
A 990 shows the board membership and any compensation they've received from that entity. 

[The Sicatoka]

50 minutes ago, UNDBIZ said:

Agreed.  There are a bunch of board members outside of the Engelstad Foundation people.  Where are they?

Asleep? 

[darell1976]

37 minutes ago, jdub27 said:

2020

 

Per the tax returns, he doesn't receive any compensation from any of the three main entities. 

So does UND take control of the Betty in 2020 or do they gain control of it in 2030 with the Ralph?

[petey23]

3 hours ago, 90siouxfan said:

Pure speculation on my part, but do you wonder if the handling of football ticket sales revenue was to make sure that the hockey program remains the top sport and football doesn't swoop in and raid any of gift?

 

Sic,  I guess even though she is not Ralph and has not given UND as much, she does play a hand in many facets of Ralph's gift and should be treated with the respect given to any donor, big or small.  Calling her names is so childish, I just cannot fathom that a UND graduate would show such immaturity. 

I would say no

[petey23]

52 minutes ago, darell1976 said:

So does UND take control of the Betty in 2020 or do they gain control of it in 2030 with the Ralph?

Ideally they would renegotiate the terms of the deal and have the REA management group continue to operate the building. Not that I don't trust a government entity to manage and operate a building efficiently and make sure the building is kept up to date and doesn't become run down but I don't trust a government entity to manage and operate a building efficiently and make sure the building is kept up to date and doesn't become run down.

[BobIwabuchiFan]

So, Ralph created these boards to manage the facility until 2030 because he knew the insatiable cash needs of the University would ultimately be the undoing of the facility and as of today we can see what happens to the University's athletics program when the State starts cutting contributions (Kennedy wants to renegotiate).  Ralph was pretty smart to handle it this way and hopefully they are building up enough a trust to maintain the structure and not have it reassigned to the State in 20 years because UND robbed its future to pay for its current deficits.  If you don't believe me, then ask how the people of the Thief River Falls are doing with their facility donated by Ralph but with no board structure like the UND campus version.  People are having to pay increases in property taxes and also have to volunteer, unpaid, to make the maintenance and day to day operational costs manageable for the facility.

Whine all you want about the gift, but Ralph knew business and how people in power act and he protected the gift at least until 2030....

[jdub27]

26 minutes ago, petey23 said:

Ideally they would renegotiate the terms of the deal and have the REA management group continue to operate the building. Not that I don't trust a government entity to manage and operate a building efficiently and make sure the building is kept up to date and doesn't become run down but I don't trust a government entity to manage and operate a building efficiently and make sure the building is kept up to date and doesn't become run down.

I have always assumed this was the plan, but in order for that to work, the relationship needs to continue to be beneficial from both sides. As things sit right now, that is not happening (whether or not it is real or perceived doesn't even matter). The UND athletic department has faced significant budget cuts while apparently being unable to being able to renegotiate with their biggest partner to help ease the pain, while that partner (whose sole reason for existence is to operate in the most beneficial way to support UND athletics) has continued to see the same amount of revenue come in. 

[UNDBIZ]

Just now, jdub27 said:

I have always assumed this was the plan, but in order for that to work, the relationship needs to continue to be beneficial from both sides. As things sit right now, that is not happening (whether or not it is real or perceived doesn't even matter). The UND athletic department has faced significant budget cuts while apparently being unable to being able to renegotiate with their biggest partner to help ease the pain, while that partner (whose sole reason for existence is to operate in the most beneficial way to support UND athletics) has continued to see the same amount of revenue come in. 

Ticket prices were raised for hockey and football, so REA is actually making more money than they were before the budget cuts....

[dlsiouxfan]

It's impossible to read this thread and not get sick to my stomach thinking about what an additional $400K-$500K of revenue each year would have meant to the football program over the last 15 years in terms of salaries, improvements, scholarships, etc.  To argue that it wouldn't is entirely asinine.   Kris McGarry and the REA foundation are leeches and crooks.  She's never made an honest buck in her life and her sense of entitlement to the revenues generated by UND athletics is astounding.

[jdub27]

13 minutes ago, dlsiouxfan said:

It's impossible to read this thread and not get sick to my stomach thinking about what an additional $400K-$500K of revenue each year would have meant to the football program over the last 15 years in terms of salaries, improvements, scholarships, etc.  To argue that it wouldn't is entirely asinine.   Kris McGarry and the REA foundation are leeches and crooks.  She's never made an honest buck in her life and her sense of entitlement to the revenues generated by UND athletics is astounding.

I think your number is a bit high assuming the NCAA reports are correct. Last year the rough amount of football ticket revenue that went to the REA was ~$250K and that was easily a high water mark over the last number of years. Regardless, the athletic department made a deal that made sense almost two decades ago. However that deal is also renewed annually and UND doesn't feel like it's currently making sense for them, giving the right to negotiate it. 

[Frozen4sioux]

44 minutes ago, UNDBIZ said:

Ticket prices were raised for hockey and football, so REA is actually making more money than they were before the budget cuts....

Wouldn’t also be fair to point out the increase in expenses, including labor, supplies and the like.

Assuming more revenue = more net profit is again, quite foolish.