UND, REA announce new long-term extension to usage agreement

[Goon]

I saw this pop up today. 

Quote

The University of North Dakota (UND) and Ralph Engelstad Arena are pleased to announce they have agreed to terms on a new long-term 10-year usage agreement extension. The usage agreement extension will run from July 1, 2020 through Sept. 30, 2030. (Link)

Isn't 2030 when Ralph Engelstad Arena Sports Complex is supposed to turn the Ralph over to UND? 

[SWSiouxMN]

17 minutes ago, Goon said:

I saw this pop up today. 

Isn't 2030 when Ralph Engelstad Arena Sports Complex is supposed to turn the Ralph over to UND? 

It seems too specific to not line up with the turnover date.

[Goon]

Just now, SWSiouxMN said:

It seems too specific to not line up with the turnover date.

That was one of the first things that came to mind. Plus, if you go by the government fiscal year, (UND is a state run institution) it would be done by Sept 30, 2030. 

[jdub27]

20 minutes ago, Goon said:

That was one of the first things that came to mind. Plus, if you go by the government fiscal year, (UND is a state run institution) it would be done by Sept 30, 2030. 

UND's fiscal  year end is 6/30.

But I believe that the usage agreement date lines up with the turnover date. Surprised they locked in the agreement for an additional 10 years. 5 years, with a 5 year option would seem more reasonable. Will be interesting to see if there is any tweaks that were done. 

[Goon]

46 minutes ago, jdub27 said:

UND's fiscal  year end is 6/30.

But I believe that the usage agreement date lines up with the turnover date. Surprised they locked in the agreement for an additional 10 years. 5 years, with a 5 year option would seem more reasonable. Will be interesting to see if there is any tweaks that were done. 

I was under the impression that originally, it was going to be a 30-year deal before UND received the REA. 

[nodak651]

What is the benefit to UND for locking in the same usage agreement that we already have, for ten additional years?  Why do that?  Hopefully Phase II can be paid for the same way the Betty was.

[BarnWinterSportsEngelstad]

8 hours ago, Goon said:

I saw this pop up today. 

Isn't 2030 when Ralph Engelstad Arena Sports Complex is supposed to turn the Ralph over to UND? 

Don't really see an advantage for UND to doing a 10 year deal, maybe more like just be nice and continue along.
Maybe it's just a formality because The Ralph is in control and will continue to do so, therefore no need to annually have this "usage agreement" causing confusion in the public eye?
Till September 30, 2030 is no coincidence, October 1, 2030 UND get's The Ralph; unless some continuance were to be agreed upon.

Might need a new score board by then, so play nice!

[The Sicatoka]

On 8/20/2019 at 3:17 PM, Goon said:

I was under the impression that originally, it was going to be a 30-year deal before UND received the REA. 

UND was to get the arena 30 years after opening. 

[siouxkid12]

On ‎8‎/‎20‎/‎2019 at 10:42 PM, BarnWinterSportsEngelstad said:

Don't really see an advantage for UND to doing a 10 year deal, maybe more like just be nice and continue along.
Maybe it's just a formality because The Ralph is in control and will continue to do so, therefore no need to annually have this "usage agreement" causing confusion in the public eye?
Till September 30, 2030 is no coincidence, October 1, 2030 UND get's The Ralph; unless some continuance were to be agreed upon.

Might need a new score board by then, so play nice!

That's what it is exactly. Kris better open her checkbook now and start donating to the University because she has gotten her last two wishes (no Kennedy and a favorable agreement).

[nodak651]

4 hours ago, siouxkid12 said:

That's what it is exactly. Kris better open her checkbook now and start donating to the University because she has gotten her last two wishes (no Kennedy and a favorable agreement).

This.  Why does she even give a !@#$ what the agreement is if the mission of the Ralph is to benefit the UND Athletic Department as a whole?  She's power hungry and holding her dad's generous donation over UND's head.  I hope I end up being wrong and there is movement on phase II, in coordination with the Ralph, after the Betty finally get's paid off.  That's the only way this long term extension makes sense to me.  Then she can say she made the primary donation for Phase II, even though it would be UND who's really paying off the bonds/loan with the REA taking a portion of half the revenue generated from 52% of ticket sales from ALL UND sports, 100% of concessions, 100% of REA suite revenue, advertising, and the REA hockey academy.

[fightingsioux4life]

4 minutes ago, nodak651 said:

This.  Why does she even give a !@#$ what the agreement is if the mission of the Ralph is to benefit the UND Athletic Department as a whole?  She's power hungry and holding her dad's generous donation over UND's head.  I hope I end up being wrong and there is movement on phase II, in coordination with the Ralph, after the Betty finally get's paid off.  That's the only way this long term extension makes sense to me.  Then she can say she made a donation for Phase II, even though it will be UND who is really paying for it, as half of ticket revenue, 100% of concessions, advertising, and REA hockey academy revenue would be used to pay off the bonds/loan.

Careful, you'll be branded as ungrateful and unappreciative (sarcasm). 

[nodak651]

4 minutes ago, fightingsioux4life said:

Careful, you'll be branded as ungrateful and unappreciative (sarcasm). 

And I might have just made it worse with the edit.... saying that she would claim that she donated Phase II as well, even though UND would really be paying for it (like the Betty).

[fightingsioux4life]

Just now, nodak651 said:

And I might have just made it worse with the edit.... saying that she would claim that she donated Phase II as well, even though UND would really be paying for it (like the Betty).

You might want to fix that last sentence, the type is tiny.