Upcoming announcement for stadium renovations? Found these advertisements newly posted around Bobby Dodd.

leatherneckjacket

leatherneckjacket

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I hate to poo poo on this, but I really wish we would do something to significantly reduce the debt as well as permanently fund every scholarship and coaching position through endowments before we undertake a massive capital project like this. We have one of the highest debt to revenue ratios in all college athletics and we need to fix that before increasing our debt even further.
 
gtchem05

gtchem05

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leatherneckjacket said:
I hate to poo poo on this, but I really wish we would do something to significantly reduce the debt as well as permanently fund every scholarship and coaching position through endowments before we undertake a massive capital project like this. We have one of the highest debt to revenue ratios in all college athletics and we need to fix that before increasing our debt even further.
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An organization doesn’t generally initiate a fundraiser to relieve debt. It’s not really something that would excite the majority of a donor base. You sell a vision and provide others the opportunity to make it a reality. As a bonus, by raising donated funds for the renovations, the GTAA doesn’t have to put its own revenue towards the project and can use that to potentially pay down the debt. There’s also the matter of the interest rate on the debt which, if I recall correctly, is not particularly high making paying it off less of an urgent issue.
 
Bogey

Bogey

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leatherneckjacket said:
I hate to poo poo on this, but I really wish we would do something to significantly reduce the debt as well as permanently fund every scholarship and coaching position through endowments before we undertake a massive capital project like this. We have one of the highest debt to revenue ratios in all college athletics and we need to fix that before increasing our debt even further.
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I think you need to run for congress. We need people like you in DC.
 
leatherneckjacket

leatherneckjacket

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gtchem05 said:
An organization doesn’t generally initiate a fundraiser to relieve debt. It’s not really something that would excite the majority of a donor base. You sell a vision and provide others the opportunity to make it a reality. As a bonus, by raising donated funds for the renovations, the GTAA doesn’t have to put its own revenue towards the project and can use that to potentially pay down the debt. There’s also the matter of the interest rate on the debt which, if I recall correctly, is not particularly high making paying it off less of an urgent issue.
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I do not care about getting people excited for a capital project. I care about the fiduciary responsibilities of the GTAA to manage their debt properly. We have way too much debt, irrespective of the rates. Yes, some of the debt has low interest rates, but some of those rates are expiring soon and will have to be refinanced at a much higher rate. Regardless, it is not smart for any organization to continually add to its debt or initiate a major capital expenditure project when it has as much debt as we have relative to our revenue. I believe the $500M capital campaign will only cover a portion of the total project costs, which means more debt at a much higher interest rate. I say pay down the debt first, then talk to me about financing new capital projects.
 

RamblinRed

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leatherneckjacket said:
I do not care about getting people excited for a capital project. I care about the fiduciary responsibilities of the GTAA to manage their debt properly. We have way too much debt, irrespective of the rates. Yes, some of the debt has low interest rates, but some of those rates are expiring soon and will have to be refinanced at a much higher rate. Regardless, it is not smart for any organization to continually add to its debt or initiate a major capital expenditure project when it has as much debt as we have relative to our revenue. I believe the $500M capital campaign will only cover a portion of the total project costs, which means more debt at a much higher interest rate. I say pay down the debt first, then talk to me about financing new capital projects.
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While I generally agree with you and have always said that if I won the lottery the big pile of money i'd give to the AA could only be used for 2 things - paying down debt and funding scholarship endowments - this is just symptomatic of what college athletics, especially college football has become.

Everybody is just spending more and more in an ever expanding arms race that appears to have no end. The end will come eventually when the money flows don't match the spending and programs start going under. That is basically where college athletics is headed.
 
travgt01

travgt01

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Ramble1885 said:

via the official website​

  • What is the planned timeline of this initiative?
    • Oct. 4, 2024: Full Steam Ahead launches to all members of the Georgia Tech athletics community; Inventory becomes available
    • Spring 2026: Construction of the Zelnak Center Addition begins
    • Fall 2026: Start of Capital Projects Construction & Renovations at Bobby Dodd Stadium at Hyundai Field
    • Spring 2027: Re-seating process is tentatively slated to begin
    • Fall 2027: Construction complete on Bobby Dodd Stadium
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2026 season 100% in the Benz?
 

LT 1967

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J Batt will be a guest on the ACCN at either 5:15 or 5:30 to discuss Full Steam ahead. I just turned on the TV and missed part of the announcement, but I think he will on at 5:30.

Damon Stoudamire will be on in a few minutes.
 
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