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re: Alabama Athletics is embarking on a ten-year, $600 million initiative
Posted on 8/16/18 at 1:24 pm to OKTGR580
Posted on 8/16/18 at 1:24 pm to OKTGR580
Renovations like this drive up season tickets and fees, essentially pushing out the everyday fan and corporations buying most the seats and suites.
No problem updating stadiums, they all need it. But most of this is BS.
No problem updating stadiums, they all need it. But most of this is BS.
This post was edited on 8/16/18 at 1:27 pm
2
Posted on 8/16/18 at 1:25 pm to Landmass
quote:
Alabama was jealous of Auburn's widescreen TV. Now Alabama has to get one.
Bad idea. I hate our big screen.
Posted on 8/16/18 at 1:27 pm to momentoftruth87
quote:
Sad to think that Saban will probably not be coaching then
The hell it is
Posted on 8/16/18 at 1:27 pm to bstew3006
quote:
Renovations like this drive up season tickets and fees, essentially pushing out the everyday fan and corporations buying most the seats and suites.
I wonder how the tax law is effecting demand since corporations or any business can no longer deduct meals and entertainment.
Posted on 8/16/18 at 1:29 pm to Mobtro
I like the old brick exterior alot better than the glass look all the new stadiums are going to today. I think in 20 years it will be looked upon like Fulton County Stadium was after 20 years. Also that FCS look applies to the upper deck overhang.
Posted on 8/16/18 at 1:30 pm to StringedInstruments
quote:
Bad idea. I hate our big screen.
It reminds me of El Capitan at Yosemite.
Posted on 8/16/18 at 1:32 pm to WRhodesTider
quote:
I wonder how the tax law is effecting demand since corporations or any business can no longer deduct meals and entertainment.
I'm not aware that businesses can no longer deduct meals and entertainment for "business purposes/expense", when did this change?
This post was edited on 8/16/18 at 1:33 pm
Posted on 8/16/18 at 1:37 pm to bstew3006
This is the disclaimer on the Gator Booster's web page.
TAX DEDUCTIBILITY LAW - EFFECTIVE 2018
The Tax Cuts and Jobs Act of 2017 provides that no deduction will be allowed for any amount contributed to an institution of higher education if the taxpayer receives, directly or indirectly, the right to purchase tickets for an athletic event of such institution. Therefore, there will no longer be a deduction for Gator Booster contributions that give you the right to purchase tickets after January 1, 2018. No portion of any ticket related contribution made after that date is deductible. Please consult your tax advisor.
TAX DEDUCTIBILITY LAW - EFFECTIVE 2018
The Tax Cuts and Jobs Act of 2017 provides that no deduction will be allowed for any amount contributed to an institution of higher education if the taxpayer receives, directly or indirectly, the right to purchase tickets for an athletic event of such institution. Therefore, there will no longer be a deduction for Gator Booster contributions that give you the right to purchase tickets after January 1, 2018. No portion of any ticket related contribution made after that date is deductible. Please consult your tax advisor.
Posted on 8/16/18 at 1:37 pm to RollTide1987
quote:
Saban himself donated $1 million to the cause.
He should donate that to the actual university that none of you went to.
Posted on 8/16/18 at 1:43 pm to Cheese Grits
quote:This isnt some backwards New Orleans mayors office deal. They are raising the money to build it and almost 150 million has been committed before it even became public. Aside from recruiting and all that stuff, the point is to lure fans into the stadium. People paying for suits and lounge access will pay for a lot of it annually. They are trying to make general admission (relatively) affordable and enjoyable.
Face it many of these big projects go to the hands of a few construction companies at inflated costs. The cost is passed onto the fans. We are fast approaching the point will exceed the revenue streams and the bubble will burst and the schools will have debt they can not service.
Posted on 8/16/18 at 1:46 pm to Mobtro
Looks great! 
Its crazy how quickly the goal of these projects has started to shift from fitting as many people in as possible to sacrificing seats for comfort/luxuries.
Makes me curious what stadiums will look like in 20+ yrs, or what the next major program that needs a complete rebuild will produce.
Its crazy how quickly the goal of these projects has started to shift from fitting as many people in as possible to sacrificing seats for comfort/luxuries.
Makes me curious what stadiums will look like in 20+ yrs, or what the next major program that needs a complete rebuild will produce.
Posted on 8/16/18 at 1:49 pm to Mobtro
Not a big fan of the glass on the sides, looks too NFL'ish.
The bigger concourse are great, it gets really crowded in the concourses at the beginning, end, and halftime.
The big jumbontron is nice too, we only have those 4 small ones now and sacrificing seats for a big jumbotron is a good trade, especially considering those are the seats that are empty most of the time.
The bigger concourse are great, it gets really crowded in the concourses at the beginning, end, and halftime.
The big jumbontron is nice too, we only have those 4 small ones now and sacrificing seats for a big jumbotron is a good trade, especially considering those are the seats that are empty most of the time.
Posted on 8/16/18 at 1:52 pm to Cheese Grits
quote:
Imagine if that went 100% to endowment to fund scholarships!
Literally it would double their current endowment.
The UA system has an endowment of $1.2 billion.
Posted on 8/16/18 at 1:52 pm to lion
quote:
This isnt some backwards New Orleans mayors office deal.
Not saying it is
600 million split between 2 or 3 primary sites and probably all the same contractors. The point being is that is a lot of money ending up in very few hands at the expense of the masses who must pay the bill when it comes due.
Back during realignment I said the IRS would get rid of the tax deduction in a decade and it only took 5 years. The money spent is outstripping the rate of rise in peoples income. While this can happen in short spans (2 to 3 years) it is not sustainable for cost to rise at 12% to 24% for more than a few years before things will correct and the bubble will burst. When I look at the cost of real wages over time superimposed over sports spending it seems a crash is due soon, if it has not already started at the edges.
Posted on 8/16/18 at 1:53 pm to TxTiger82
quote:
He should donate that to the actual university that none of you went to.
I have two degrees from Alabama.
And Saban has endowed scholarships at Alabama.
Nicks Kids gives millions to charities. He’s built 17 homes for locals through his foundation.
Posted on 8/16/18 at 1:54 pm to OldSchoolHorn
quote:
I’m very okay with NYU producing healthcare professionals & Bama focusing on athletics.
Forest Gump is not on my preferred list of candidates making any life sensitive decisions on my part.
You are not very bright are you? Stop licking windows......
Posted on 8/16/18 at 1:56 pm to bigDgator
quote:
TAX DEDUCTIBILITY LAW - EFFECTIVE 2018 The Tax Cuts and Jobs Act of 2017 provides that no deduction will be allowed for any amount contributed to an institution of higher education if the taxpayer receives, directly or indirectly, the right to purchase tickets for an athletic event of such institution. Therefore, there will no longer be a deduction for Gator Booster contributions that give you the right to purchase tickets after January 1, 2018. No portion of any ticket related contribution made after that date is deductible. Please consult your tax advisor.
So the Athletic fees will NOT be a deduction, but Cost of actual tickets could be deducted, am I reading that right?
But businesses can still write off 50% "meals and entertainment" as a business expense.
Either way, I don't see this slowing down the demand of Businesses, Corps picking up sections of seats and Suites. Once again, fix up your back porch boys and watch the games from home.
This post was edited on 8/16/18 at 1:59 pm
Posted on 8/16/18 at 1:59 pm to Cheese Grits
quote:
So, in 10 years a fan would drop
150,000 upfront
160,000 sum of annual for decade
310,00 = total coast
229,400 = median price for a home in Alabama
Yet AD's wonder why attendance is falling at sports venues across the country.
Yes, b/c it's the guy with the $229K home who will be buying the $310 Loge seat for 10 years.
Posted on 8/16/18 at 2:00 pm to bstew3006
quote:
So the Athletic fees will NOT be a deduction, but Cost of actual tickets could be deducted, am I reading that right?
But businesses can still write off 50% "meals and entertainment" as a business expense.
Nope. None of it deductible as meals & entertainment anymore.
Posted on 8/16/18 at 2:06 pm to CapstoneGrad06
quote:
The UA system has an endowment of $1.2 billion.
600 million for Alabama
425 million for Birmingham
75 million for Huntsville
1.1 billion
Now look at the schools
600 million = Alabama (Tuscaloosa)
1.3 billion = Kentucky (Lexington)
Translation, UK's endowment is double Alabama's at the institutional level and still more than the whole system endowment for Alabama (UAT + UAB + UAH)
Put another way, the University of Louisville has a 700 million dollar endowment so Louisville Cardinals > Alabama Crimson Tide when it comes to endowments.
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