CRDA Assails Cuts That Could Lead XL Center To Close | Page 4 | The Boneyard

CRDA Assails Cuts That Could Lead XL Center To Close

The whole point of having games across the state is getting more people interested in Uconn basketball. Not everyone wants to drive to Storrs. I would only have max of 5 home games away from Gampel and these games would take place during the holiday break when students are away. Money is tight in the athletic department got do what's best in generating more revenue for the athletic department. Tomorrow night probably only have 6-7k in attendance against BU.
 
The thought of selling the XL Center to a private, for profit entity is fantasyland. An owner could operate the facility at a profit, but not if they were responsible for capital improvements and had to pay property taxes. Throw in the age of the XL Center and the financial condition of Hartford and the state of Connecticut and I find it hard to believe they will find a buyer.
 
UConnJim said:
The thought of selling the XL Center to a private, for profit entity is fantasyland. An owner could operate the facility at a profit, but not if they were responsible for capital improvements and had to pay property taxes. Throw in the age of the XL Center and the financial condition of Hartford and the state of Connecticut and I find it hard to believe they will find a buyer.
Expand ...
I think they find a buyer. It will just depend on the price.

Whoever buys it will make minimal improvements and squeeze out what profitability is left then close it up and sell the property.
 
CL82 said:
I think they find a buyer. It will just depend on the price.

Whoever buys it will make minimal improvements and squeeze out what profitability is left then close it up and sell the property.
Expand ...
UConnJim said:
The thought of selling the XL Center to a private, for profit entity is fantasyland. An owner could operate the facility at a profit, but not if they were responsible for capital improvements and had to pay property taxes. Throw in the age of the XL Center and the financial condition of Hartford and the state of Connecticut and I find it hard to believe they will find a buyer.
Expand ...
What about buy the place and tear it down to use that property for something else. Any lease terms given to UConn or the Wolfpack won’t be as good a deal as they get now from the CRDA. Looks like the bell has tolled on that place..last one out turn out the lights.
 
FDNY99 said:
What about buy the place and tear it down to use that property for something else. Any lease terms given to UConn or the Wolfpack won’t be as good a deal as they get now from the CRDA. Looks like the bell has tolled on that place..last one out turn out the lights.
Expand ...

That's been my thought on what might happen. If the place isn't profitable as a sports/entertainment venue, the property might be useful in another capacity. Given the place bleeds money, it might eventually be a property that is virtually given away.
 
.-.
Just because a property is put up for sale doesn't mean it will sell or sell any time soon. Or, if it does sell it could have restrictions on it in terms of giving the State and/or the City first right of refusal to buy it back if it goes up for sale or if demolition permits are applied for, etc. So, lots of possible wrinkles could be planned for...
 
CTFAN4LIFE said:
Just because a property is put up for sale doesn't mean it will sell or sell any time soon. Or, if it does sell it could have restrictions on it in terms of giving the State and/or the City first right of refusal to buy it back if it goes up for sale or if demolition permits are applied for, etc. So, lots of possible wrinkles could be planned for...
Expand ...
It’s pretty clear that it the CRDA and the City have been told to sell the property. There isn’t any more money coming from the state except for the $40 million to buy the atrium and get it ready to sell.
 
FDNY99 said:
It’s pretty clear that it the CRDA and the City have been told to sell the property. There isn’t any more money coming from the state except for the $40 million to buy the atrium and get it ready to sell.
Expand ...
I don't disagree, but my points still stand. :)
 
A couple thoughts I had:

I think MSG may potentially buy the arena.

One weird reason: why did they paint the top of the dasher boards red?

That's not a UConn or state of CT color. It does fit the Wolfpack color scheme.

UConn was going to sign a 20 year lease, ONLY if the renovations were completed. I bet it wouldn't have been painted red if they were signing a 20 year commitment.

I wonder if MSG buys the building and Wolfpack/UConn game day profits other than UConn ticket revenue go to MSG and UConn pays even a higher rent fee for a reduced amounts of games:

5 top tier men's bball games
5 top tier women's bball games
5 top tier hockey games

Rest on campus. Probably would be a wash in terms of UConn and state costs/revenue.

State doesn't have to pay 1.5 million Wolfpack affialate fee.
Not owning the building, the state doesn't have to cover loses. So the
1.5-2.0 million that they lose each yr would be covered by MSG.

Wolfpack have a place to play that they own. They profit from all WP events and cover all operations. They would pay spectra or get all their own people in there.

UConn gets all ticket revenue for the higher attended games at XL. May profit from having less overhead/rent on 17 hockey games, 8 men's games, and 7 women's games.

UConn paying rent on 32 games?
Or UConn paying a slightly higher rent for 15 games?

Those extra 17 games cost UConn $$$ if not highly attended.

Put those 17 remaining lesser attended games on campus and UConn may profit from the no rent and the game day profits on campus vs XL.

It would be SAD and really bad foresight of attracting future millennials if they tear it down. Perfect location. Downtown arenas are the majority and suburb arena fail to attract fans. Busway, train station, highway access, new apartments etc.

Lots of great memories there. It's called the Civic Center for a reason and they better not tear down a colliseum dedicated to veterans
 
My problem with the XL is it is too big for a minor league hockey team and a mid-major basketball team. The occasional big concert won’t help. It is sad but time to tear her down.
 
If that happens then turn the lights off for Hartford county because there's no coming back from it..

And speaking for myself, I will not be attending games in Storrs if this does come to pass.
 
.-.
TheDoggPound said:
If that happens then turn the lights off for Hartford county because there's no coming back from it..

And speaking for myself, I will not be attending games in Storrs if this does come to pass.
Expand ...

I don’t disagree with you. I’m just saying financially this is unsustainable. If a P5 invite is not in the cards, it is like the Yard Goats playing in Yankee Stadium. The XL is just too big for its tenants
 
TheDoggPound said:
If that happens then turn the lights off for Hartford county because there's no coming back from it..

And speaking for myself, I will not be attending games in Storrs if this does come to pass.
Expand ...

Of course you wouldn't. You only "support" UConn hockey as long as they keep playing in Hartford and have nothing to do with the Wolf Pack.

Look on the bright side, you could always root for the CT Fail that plays in Stamford.:p
 
No one is going to buy it with the intention of keeping it as a sports venue. If it's bought with no strings attached it will be torn down. The current building is too far gone for any reasonably priced renovations to save it and zero percent chance someone will put down money to buy it then spend 250 million to rebuild it especially for a part time college/minor league hockey venue. The arena was DOA when the Whalers left and should have been torn down/rebuilt before they left. There just isn't enough juice for an AAC team with declining attendance and a minor league hockey team that has never drawn anything respectable to keep throwing money at it. I'm a pro Hartford guy but at this point it's probably time to cut the losses and stop with this hassle.
 
I just came off a nice Fall run of XL Center events.

Roger Waters -> Guns N' Roses -> UConn/UVM Hockey -> Dead & Company.

If that place gets torn down without a plan to replace it people will be really sorry its gone.
It will be one of those don't know what you got til its gone situations that will be regretted by many.
 
.-.
ElGuapo said:
I just came off a nice Fall run of XL Center events.

Roger Waters -> Guns N' Roses -> UConn/UVM Hockey -> Dead & Company.

If that place gets torn down without a plan to replace it people will be really sorry its gone.
It will be one of those don't know what you got til its gone situations that will be regretted by many.
Expand ...
I was at many of those events but 2 decently attended concerts won’t do it
 
ElGuapo said:
I just came off a nice Fall run of XL Center events.

Roger Waters -> Guns N' Roses -> UConn/UVM Hockey -> Dead & Company.

If that place gets torn down without a plan to replace it people will be really sorry its gone.
It will be one of those don't know what you got til its gone situations that will be regretted by many.
Expand ...
We’d definitely regret it but at this point can we justify the expense of replacing it. Definately can’t keep throwing away money by putting more band aids on it without addressing its main problems. This should have been taken care of in 1997 tbh.
 
Like it or not, the XL has been a big part of UConn basketball success. For it to disappear would be bad for the program.
 
.-.
You must log in or register to reply here.

Forum statistics

Threads
167,667
Messages
4,533,932
Members
10,406
Latest member
Bertski0065


Top Bottom