Rentschler Stadium expansion | Page 3 | The Boneyard

Rentschler Stadium expansion

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UCFBfan

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ALl things considered, it's probably a good thing that it happened, b/c the transportation infrastructure in and out of Storrs would have been a disaster in 2003, and hte stadium and grounds we've got are absolutely phenomenal for a college football game day atmosphere. I think every visitor to the Stadium should take the time to go up in the tower or climb up to the top of the deck and look out over the surrounding area on game day.

I think this is the biggest reason Mansfield shot this down. I don't have links to articles or anything but I was at UConn during this time and I remember a lot of people in Mansfield didn't want it. I worked at a local restaurant and it was a common topic of conversation amongst patrons and the owner. It's the same reason a larger bball arena will never be built on campus. Until there is easier access to Storrs, everything major is going to be off-campus. In the end, The Rent did turn out pretty sweet and the college students have really started to grab hold of the idea of coming to the games. More so than games at the Civic Center.
 

UCFBfan

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An MLS exec said soccer will become the second most popular sport here in a matter of time, behind gridiron football. Sure would be nice to have the Revolution relocate to Hartford.

I'd buy it. How many kids play soccer as a youngster? Now that the majority of these teams are getting soccer made stadiums and not playing in cavernous football stadiums, soccer is a reality. The product on the field still pales in comparison to anything in Europe but give it time. The biggest thing MLS needs to get rid of is being run like the Big 4 sport associations. Salary caps and whatnot need to be thrown out if they wanna get the big named players to come here. Currently what they have in place gets the aging veterans to come to MLS but that's it. They need to keep US born players in the US and not let them play overseas. The only way to do that is to allow teams to compete financially with the EPLs, Bundasligas, and Ligas of the world. It will happen....just give it some more time.
 
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I appreciate the questions, but my fingers hurt. (figuratively) I know there are other posters around here that know the history. Maybe somebody else can jump in here and help. I don't feel like diggign for all the news articles again, and my memory is pretty good, but I don't remember all the little details about everything.

I'm 99.99% sure it was Mansfield that went to the state legislature with all kinds of issues with the stadium plans once they found out what the UConn BOT had been planning. I'm pretty sure it was simple political pressure on elected officials that ended the possibility of funding for an on-campus stadium, and maybe a legal technicality or something, that got the state to put a hold on the funding for the on-campus facility because the entire thing was ready to go, by UConn leadership, but once the surrounding community found out - they had a fit. THe stadium was originally going to be in the vicinity of the Jungle, just north of it, and if I remember correclty they were considering knocking down the jungle to do it THe plans were go, to build on campus, until the surrounding communities got it axed.

ALl things considered, it's probably a good thing that it happened, b/c the transportation infrastructure in and out of Storrs would have been a disaster in 2003, and hte stadium and grounds we've got are absolutely phenomenal for a college football game day atmosphere. I think every visitor to the Stadium should take the time to go up in the tower or climb up to the top of the deck and look out over the surrounding area on game day.


I believe it was a 30K stadium to go behind the police/W lot/cornfield area.
 

ConnHuskBask

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Malloy has that gumption when it comes to magic busways for people to ride to a city that is losing employment opportunities.

Lmao. That to date honestly ranks up as one of my all time wtf are they thinking projects.

A $500M busway from New Britain to Hartford. Jesus fcking christ.
 
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Lmao. That to date honestly ranks up as one of my all time wtf are they thinking projects.

A $500M busway from New Britain to Hartford. Jesus fcking christ.

Idiotic, but the soccer idea is a great one. It's not just the demographics of immigrants but the generation that began playing 20 years or so ago that are now adults and soon to have their own kids. It's a curve we can be ahead of. And think about 2013, a year after Euro 2012 and the Olympics, sandwiched in between the next WC. Gold Cup soccer (if we send a decent team-which has been hit or miss) would be rocking.
 

RS9999X

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The numbers in that article are interesting. Where did he get the Debt Service? (cause it's not in that audit) If it is $9m (looks like a fully amortizing 20 year bond) ... has anyone looked to recast that debt. O my. This is where the questions fly. UConn pays $170k per game? I don't see that in the audit provided by mattp. And, the $8m a year in Luxury Suite money? Goes to the Athletic Fund? Huh? See ... you have your veritable can a worms in one day. The more you dive into this, the more questions.

BTW ... I believe Rentschler would have cost $140m if it was done a few years later (mostly higher steel cost).


CT regularly refinances bond debt

http://www.bloomberg.com/news/2010-...bonds-after-boosting-top-income-tax-rate.html

Connecticut, plans to offer $600 million in tax-exempt bonds next week.
The offering will be split, with $200 million for capital improvements and $400 million to refinance existing debt, and save the state $16 million without extending maturities, Moody’s Investors Service said.
-------------------------------------------------------------------------------------------------

The state Treasury will begin selling $715 million in general obligation bonds Friday. Bonds from the sale will be used for a variety of new projects, according to the statement.

Nappier said $335.7 million will be used for school construction grants; $54.6 million will fund improvements to state community technical colleges and $30 million will be used to replenish the Capitol Improvement Fund. About $79.7 million will go to other building projects, the statement said.

Another $165 million will be used to refinance the state’s debt at lower interest rates, the statement said.

http://www.ctnewsjunkie.com/ctnj.php/archives/entry/connecticut_keeps_its_aa_bond_rating/
 
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I don't buy that MLS will overtake MLB and/or the NBA, most definitely not in the northeast, but building a MLS stadium in the Hartford area would be a great idea. But aren't the Revolution owned by Kraft? No chance he's moving a team out of Foxboro.
 

RS9999X

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The soccer rumor first started when I was in High Schoolor and Pele signed with the New York cosmos. Lots of people swim casually; some even compete in High School; few watch pro swimming.

The Rent has East Hartford zoning issues too . Increased seating would help get stadium concerts that go to Giants, Yankees or Gillete. The noise amd moise abatement would be a be huge issue
----------------------------------------------------------------------------------------

EAST HARTFORD — Officials were so confident that the Bruce Springsteen concert Tuesday night conformed to the town's noise ordinance that they didn't take live readings, relying instead on readings taken earlier during a sound check.
By Wednesday morning, however, state and local officials found that police had received more than 100 complaints about the first concert at Rentschler Field, almost all from the southeastern part of town -- exactly opposite the side of the stadium where officials thought they would have the most noise problems
 

uconnbill

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Small time thinking of the politicians and some on here. The stadium should have been built bigger to begin with. Anytime a project comes before the legislators in Hartford they do it as small as they can go. Just look at the Gampel which should have been 12,000 or so instead was built to a little over 8,000. Only after issues was it expanded to the 10,000+ it is now.
The Rent should have been built to 50,000 right off the bat and some legislators wanted it to be bigger as they thought it would save money down the road. Instead the state does just enough as always.
 
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Well Bill - when that absolutely ridiculous bus way b/w New Britain and Hartford turns into the money pit it's destined to be, the politicians behind it will be gone, in place of public officials who are smart enough to look at something like Rentschler field as something to be investing in to create more jobs and profit for the state as a campaign issue to get into office - over those that supported this busway. It makes me ill just to think about that thing and the money going into it that could be going to something - ANYTHING - useful.
 

Waquoit

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I don't buy that MLS will overtake MLB and/or the NBA, most definitely not in the northeast, but building a MLS stadium in the Hartford area would be a great idea. But aren't the Revolution owned by Kraft? No chance he's moving a team out of Foxboro.

The Rent was built for soccer.
 

UCFBfan

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The Rent was built for soccer.

Legit or just in your opinion? I really think that Hartford should act before NY and Boston get big teams. It's why they'll never get a NHL team. The Revolution don't play in Boston and Red Bulls play in NJ. Time act! Haha! Pipe dream......

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MLS wants soccer specific stadiums, sized 20-25k, with the soccer team as the main tennant. They dont want August/September/October games (end of season and playoffs) played on fields with football grids and 10k peeps in a 50k seat facility. That would seem to make The Rent a non-starter for the MLS

I really haven't followed closely because I really dont give much of a about anything anymore, but the Krafts were exploring sommerville and marlboro a while back to build such a facility.
 

Dann

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Sell the rent to a mls owner for 100mil. Take that and build a 60k on campus stadium that will forever take this school to the next level. It may take another 10 years to fill it but so what. Think and go big or go home. Play all bball games the next 8 years in hartford while gampel turns into a great 6k rink and the baseball soccer stuff and bball pf is all done. In 2020 with all these things well over with and being used, put a 15k bball arena in dt storrs and for ever remember the greatest 20 years in uconn history.
 
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The difference, in your argument that 40K in 2000 was speculative, is that in 2000 we were markedly upgrading the product on the field to D1 football, from the previous irrelevant 1AA crap we played. Now, short of a major conference jump, there's no increase in the product on the field that would allow for any reasonable expectation that those extra 15K seats are going to be sold. You all can banter all you want about a B1G invite, but it's not happening. Putting in 15K new seats is not gong to suddenly draw 15K more people to the same OOC games against Buffalo and Ohio, combined with a weakened Big East. In fact, it's more appealing to other conferences to see a stadium at 100% capacity all season, a demand for more tickets, and the ability to expand if necessary, than it is to see 41,000 people in 55,000 seats. If for no other reason, it creates the perception that the program is in demand, that everyone loves it, tickets are gone like hot cakes, and that it's something everyone else should see. Smart business is to keep supply just behind demand, not increase supply when there isn't the demand. Currently, short of the Michigan game and maybe Tennessee, there's not a single game on our schedule I see us selling 55K tickets to. And "marketing more" is not going to accomplish that. When you have to market a program so much just to get a sellout, it reeks of desperation and that tickets are easy to come by. You won't see any big time football program marketing their tickets like crazy, it's because they don't have to. When you don't have to market to sellout, you're a big program. When you're marketing like hell just to make it up to a sellout, likely accomplished through day of game walk up sales, you're akin to a minor league baseball team.

There is a critical point in there. Expanding to 55k before the fanbase is ready to fill the seats (or at least most of them) consistently leads to less excitement at the games, and ultimately less demand. It is not critical that you sell out every game, but it is critical that your stadium doesn't look like -- say -- Pitt's.
 

jbdphi

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CT regularly refinances bond debt

http://www.bloomberg.com/news/2010-...bonds-after-boosting-top-income-tax-rate.html

Connecticut, plans to offer $600 million in tax-exempt bonds next week.
The offering will be split, with $200 million for capital improvements and $400 million to refinance existing debt, and save the state $16 million without extending maturities, Moody’s Investors Service said.
-------------------------------------------------------------------------------------------------

The state Treasury will begin selling $715 million in general obligation bonds Friday. Bonds from the sale will be used for a variety of new projects, according to the statement.

Nappier said $335.7 million will be used for school construction grants; $54.6 million will fund improvements to state community technical colleges and $30 million will be used to replenish the Capitol Improvement Fund. About $79.7 million will go to other building projects, the statement said.

Another $165 million will be used to refinance the state’s debt at lower interest rates, the statement said.

http://www.ctnewsjunkie.com/ctnj.php/archives/entry/connecticut_keeps_its_aa_bond_rating/

Just seeing this whole thread now (and why is expansion of the Rent a Conference Realignment topic??? Isn't it a football topic?) Some quick thoughts based on 10+ years in finance and banking (although not public / project financing like this):
- I doubt that the Rent financing was a general obligation bond of the State of CT - it sounds like it was a specific project financing which means that it has specific interest and revenues related to the project - it would not be part of any refinancing done generally by the State of CT
- These sorts of project specific financings aren't as easy to refinance as general obligation bonds - there are covenants involved which typically prevent such an action unless the investor in the financing is somehow "made whole" for their lost interest income - this can get really expensive depending on how close to maturity you want to do a refinancing - the further out you are from maturity, the more expensive it is
- In addition, there was a comment earlier from Pudge which implied that Debt Service Ratios should look much better than originally planned due to lower prevailing interest rates - from my experience, I'd be shocked if this project financing was not done on a FIXED interest rate. Almost all projects are done on a fixed interest rate as opposed to a floating interest rate so you have complete predictability in costs - with a floating loan, if interest rates went up (but revenue remained where you thought it would be) you would be screwed so I'd be shocked if this was done on a floating basis - as a result, the Ratios would only improve due to improvement in the numerator (revenue or EBITDA), not the denominator (Fixed Costs like Interest and Principal)
- Without seeing the offering documents, I have no idea if this is the case, but sometimes these deals have something called an accordion feature which means that under certain conditions and with investor agreement, you can add to the original bond. If an expansion was originally considered in the offering, there may be such a feature here.

Hope that is helpful to those who care.
 

pj

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Sell the rent to a mls owner for 100mil. Take that and build a 60k on campus stadium that will forever take this school to the next level. It may take another 10 years to fill it but so what. Think and go big or go home.

Better: Sell the rent to an MLS owner. Move the whole university to a scenic site near the beach with better access to freeways - say, Hammonassett State Park; or maybe closer to the middle of the state, say on the site of that golf course in Cromwell. Build a 60k on campus stadium, a 16k on campus basketball stadium, a 5k ice rink, and a 20k near-campus soccer stadium that can serve UConn soccer and an MLS team. To help fill the seats, fold some of the other state universities and merge them into the new university. Plus build a scenic gothic campus that rivals Notre Dame and Boston College for looks.

Think and go big or go home!
 

ConnHuskBask

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Take that and build a 60k on campus stadium that will forever take this school to the next level.

Have you ever been to Storrs via 195 on move in day in August?

Gonna go out on a limb and guess no.
 

junglehusky

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Better: Sell the rent to an MLS owner. Move the whole university to a scenic site near the beach with better access to freeways - say, Hammonassett State Park; or maybe closer to the middle of the state, say on the site of that golf course in Cromwell. Build a 60k on campus stadium, a 16k on campus basketball stadium, a 5k ice rink, and a 20k near-campus soccer stadium that can serve UConn soccer and an MLS team. To help fill the seats, fold some of the other state universities and merge them into the new university. Plus build a scenic gothic campus that rivals Notre Dame and Boston College for looks.

Think and go big or go home!
University of Connecticut, Trump Tower campus. I guarantee you'll agree it's the classiest campus you ever stepped foot on. It'll make Oxford look like pile of puke.

trump-hair-mouth.jpg
 

Dann

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Pj can i expand on that? Lol

Chb part of my dream project wouldbe to extend the highway right to storrs. A route 7 connector basically.
 
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I hope they put in temporary seats at the open end of the stadium by the scoreboard for the Michigan and Tennessee games. It looks like you could increase the capacity by 2k for the games.
 

Dann

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Band on the field also^. I want to set a rent record. Its good media and pumps the casual fans eyes a bit.
 
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It would help demonstrate that the Rent should be expanded.
 

CTMike

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It would help demonstrate that the Rent should be expanded.
Only if we fill them all up! I think we can though. Pretty good ideas.
 
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It would help demonstrate that the Rent should be expanded.
Not if they're filled with Michigan fans. It would demonstrate that we should expand if bleacher add-ons were full for San Diego State or Ohio.
 
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