Future Campus Framework Presentation...

[oldpinepoint]

Katko being a Republican while Miner is a Democrat I'm sure had absolutely nothing to do with his comments. Nothing whatsoever.

In light of these corruption charges she still blew it. She was in the drivers seat and had leverage. She could have demanded a sweet deal for the city.

 

[RMH44]

Cuomo is a Democrat too.

Maybe so...but Andy and Steffy do not get along. The only group she consistently collaborates with are the labor unions.

 

[longtimefan]

In light of these corruption charges she still blew it. She was in the drivers seat and had leverage. She could have demanded a sweet deal for the city.

It's never a good idea to do business with corrupt entities.

"Lie down with dogs, get up with fleas."

 

[Orangello]

It's never a good idea to do business with corrupt entities.

"Lie down with dogs, get up with fleas."

The Mafia and labor unions disagree.

 

[CuseLegacy]

Syracuse Says 36 Years Is Enough on Permanent Stadium Name Deal

Scott Soshnick soshnick
Eben Novy-Williams novy_williams
September 26, 2016 — 3:01 PM

• Carrier Corp. paid $2.75 million for naming rights in 1980
• Stadium to replace roof as part of $255 million campus upgrade

Syracuse University is asking for more money from Carrier Corp. in order to keep the heating-and-cooling company’s name on the domed stadium in central New York.

The current deal with Carrier is one of the sweetest in sports. Before the 50,000-seat stadium opened in 1980, Mel Holm, Carrier’s chief executive officer at the time, gave $2.75 million to the university in exchange for naming rights in perpetuity. As the value of those rights has soared in the ensuing decades, Syracuse has been left out in the cold.

“Negotiations are happening now,” said Pete Sala, SU’s chief facilities officer. “We asked Carrier to be a player.”


He said the discussions are being led by Foley & Lardner partner Irwin Raij, who represents Syracuse on sports facility development matters, including stadium finance and project management. Raij declined to comment.

Carrier spokeswoman Michelle Caldwell didn’t immediately return a call seeking comment on the dome, which is scheduled to be renovated as part of a $255 million campus upgrade. The school’s football, basketball and lacrosse teams play in the stadium.


Syracuse could get at least $2 million a year in a new naming-rights deal, said Jeff Knapple, chief executive officer of Van Wagner Sports & Entertainment, which advises teams and colleges on stadium projects. The Texas Dow Employees Credit Union in 2014 paid the University of Houston $15 million to name TDECU Stadium through 2024, earning more for the school in two years than Syracuse has made in the past 36.


If Syracuse and Carrier can’t reach an agreement, the university could attempt to buy out the original contract. The school could also go to court to make the argument that the original deal should be scrapped, because when the dome is renovated, it will be radically different from the venue Holm sponsored.


Syracuse earlier this year said renovations to the Carrier Dome would include a new $105 million roof made from the same material used in the Minnesota Vikings stadium and in the Water Cube built for the 2008 Beijing Olympics. The school hasn’t said how the project will be funded.

The white-topped dome was opened the year after Syracuse became a founding member of the Big East Conference, and the television exposure helped make it one of college sports’ most iconic facilities. Syracuse now plays in the Atlantic Coast Conference.

Carrier is a unit of Farmington, Connecticut-based United Technologies Corp.

Thanks jr4750

 

[OrangeXtreme]

If Syracuse and Carrier can’t reach an agreement, the university could attempt to buy out the original contract.

Pay them $2.75 mil to go away.

 

[xc84]

Pay them $2.75 mil to go away.

Not enough. It's worth a lot more than that. If you sold a house in 1980 worth $50,000 and it is worth $250,000 now, would the owner allow you to pay him $50,000 today to buy it back?

I think this argument will win out: "The school could also go to court to make the argument that the original deal should be scrapped, because when the dome is renovated, it will be radically different from the venue Holm sponsored."

 

[Toga]

Not enough. It's worth a lot more than that. If you sold a house in 1980 worth $50,000 and it is worth $250,000 now, would the owner allow you to pay him $50,000 today to buy it back?

I think this argument will win out: "The school could also go to court to make the argument that the original deal should be scrapped, because when the dome is renovated, it will be radically different from the venue Holm sponsored."

$8.5M in today's dollars.

 

[shandeezy7]

$8.5M in today's dollars.

Unfortunately, that's still not the value of what it's worth to Carrier. If they don't want to play ball, they will most certainly ask for more than that. My uneducated opinion here is that we are going to be headed into a drawn out legal battle. Will that be worth it for SU?

 

[xc84]

$8.5M in today's dollars.

It is worth the current market value...not the FV of the original investment today. The current market value is the PV of the future cashflow stream. That's a lot more than $8.5M.

 

[SUfaninAZ]

Not enough. It's worth a lot more than that. If you sold a house in 1980 worth $50,000 and it is worth $250,000 now, would the owner allow you to pay him $50,000 today to buy it back?

I think this argument will win out: "The school could also go to court to make the argument that the original deal should be scrapped, because when the dome is renovated, it will be radically different from the venue Holm sponsored."

But Carrier only put up a percentage of that house. Meaning they didn't fund the whole project.

 

[xc84]

Unfortunately, that's still not the value of what it's worth to Carrier. If they don't want to play ball, they will most certainly ask for more than that. My uneducated opinion here is that we are going to be headed into a drawn out legal battle. Will that be worth it for SU?

I think it depends on the contract and the argument that this is really not the same building after it is renovated.

 

[xc84]

But Carrier only put up a percentage of that house. Meaning they didn't fund the whole project.

The naming is worth money. That's why companies pay to have their names on buildings. They put up $2.75M. The rights are probably worth over $20M today. The article says the naming right could generate as much as $2M per year meaning that annuity is worth a lot more than $2.75M.

 

[OrangeXtreme]

 

[hoopsupstate]

The way the article reads is that Carrier seems to be open to the re-negotiation. It sounds like SU is giving Carrier the first chance for naming rights.

 

[supp]

Good. It's to everyone's advantage to re-negotiate. I'm not sure if the changes are enough to argue that it's radically different from what was there. At the same time, Carrier has no doubt benefited unequally from its relationship with the university's sports teams so endangering that relationship with litigation is not in their interests.

 

[CuseLegacy]

Unfortunately, that's still not the value of what it's worth to Carrier. If they don't want to play ball, they will most certainly ask for more than that. My uneducated opinion here is that we are going to be headed into a drawn out legal battle. Will that be worth it for SU?

My guess is that negotiations have been going on for awhile and there are things that Carrier can provide in a deal besides cash... like AC.

 

[BKCuse]

I'm SO HAPPY to see this news. After decades of a stadium with no AC and the further insult of moving jobs out of Syracuse the free ride for Carrier is over!

If they want to renoegiate and pay up that's fine but it's time we took our stadium back from the worst naming rights deal in the history of... history.

Now where are all those posters I was fighting with a couple years back?? I remember a few of you defending Carrier and saying there is no way SU can get out of this deal nor should we even try.

I really should go back and find those comments.

Mad props to Syverud and whoever else was behind this move!

This is a tremendous day for Syracuse athletics!!

 

[Toga]

Gentlemen I'm just sharing the results of my Radio Shack calculator that $2.75 in 1980 equates to $8.5 in CYD. No need to go all net present value on me.

 

[Cusefan78]

My guess is that negotiations have been going on for awhile and there are things that Carrier can provide in a deal besides cash... like AC.

I can't see adding Ac will equal 15-20 years worth of naming rights money. I can see it being used to push carriers buttons. No way would they allow another company to come in and install Ac while their name is on the building.

 

[nolacuse44]

I can't see adding Ac will equal 15-20 years worth of naming rights money. I can see it being used to push carriers buttons. No way would they allow another company to come in and install Ac while their name is on the building.

yeah, we want cold AND hard, cold cash ...

 

[CuseLegacy]

I can't see adding Ac will equal 15-20 years worth of naming rights money. I can see it being used to push carriers buttons. No way would they allow another company to come in and install Ac while their name is on the building.

I don't think you are going to get 15-20 years of naming rights money.

 

[Cusefan78]

I don't think you are going to get 15-20 years of naming rights money.

Up front money im sure they would cut a deal but I doubt su is in a position to leave tons of money on the table. Let's just say a remodel would give the dome another 20 years. At 2million per we are talking 40 million. i would have to think syracuse would want 30million between upgrades and money at the least out of carrier or they would try and move on

 

[TexanMark]

My guess is that negotiations have been going on for awhile and there are things that Carrier can provide in a deal besides cash... like AC.

Bingo...Cuse could play hardball with a threat to put a competitor's HVAC in the Dome along with prominent marketing. Carrier will try to get a below market naming rights and design a SOA HVAC system.

 

[FAL]

Bingo...Cuse could play hardball with a threat to put a competitor's HVAC in the Dome along with prominent marketing. Carrier will try to get a below market naming rights and design a SOA HVAC system.

Somebody got wind of our suggestion to offer Carrier a one time deal or SU goes to Trane (or other AC company): "Welcome to the Carrier Dome, Air Conditioned by Trane, because nothing stops a Trane" or, "When the
Carrier Dome needed AC, they turned to Trane because nothing stops a Trane."

Brilliant!