They voted to allow Colo St to borrow $220M to build a 36,000 seat new football stadium.
Colo St will attempt to pay back the money with stadium revenues and student fees, apparently.
current stadium only generates $3.6M a year. LOL
The Rams tried to raise $110M privately the last several years, but only managed to raise $25M.
The residents of Fort Collins are against the stadium.
Even if they can earn the $13M a year needed for debt service with a new stadium, they get no impact on the bottom line for 30 years? For decades, all of the new revenue goes for debt service? None for football coaches? None for the other sports?
What a mess.
This post was edited on 1/30 8:57 PM by Account53113
Colo St will attempt to pay back the money with stadium revenues and student fees, apparently.
current stadium only generates $3.6M a year. LOL
The Rams tried to raise $110M privately the last several years, but only managed to raise $25M.
The residents of Fort Collins are against the stadium.
Even if they can earn the $13M a year needed for debt service with a new stadium, they get no impact on the bottom line for 30 years? For decades, all of the new revenue goes for debt service? None for football coaches? None for the other sports?
What a mess.
This post was edited on 1/30 8:57 PM by Account53113
