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Great new! Let's put the 3 MM towards reducing tuition. Should come out to $60/student.
Half-way to a killer Basketball Practice Facility...
And the money still comes from the same place it would have otherwise: the state. I thought a university was a place of learning and study, not managing stadiums and hosting professional sports teams. President Kaler just announced he's raising tuition at the U next year by 3.5%. There's no end to the squeeze. This is a country club three-way between state politicians, the billionaire owners of the Vikings, and U administrators who make $300-400,000 salaries. Outrageous.
Elmore1, please note article headline adjacent to this one: 'U regents take wary look at proposed pay, tuition increases'. Your suggestion is valid but probably would be trampled on immediately.
Let me guess, that $3m is somehow going to find its way into Maturi's retirement account. I agree with earlier comments, this windfall should go towards lowering tuition or freezing any increases going forward for the next 4 years.
"University officials haven't decided how they will spend the additional $3 million a year but it likely will be used for intercollegiate athletic programs." -- And that is the problem with all government and, heck, people in general. They don't even have it yet, won't have it for 3 years, aren't sure yet how much they will get (it could be a whole season, could be a part season) yet they are already trying to decide how to spend it. And looking at spending it on sports stuff...even though they keep raising tuition.
Win-win. Nice to have a place ready and able to house these games during construction of the new Viking stadium. Plus, The Bank gets some improvements and The U some needed revenue.
This is just gross. The taxpayers paid for the Gophers stadium along with TCF bank which received $361.2 million in TARP money. Now the taxpayers are paying for a Vikings stadium and the extra money goes back to the U?! Really???? I am no anti-tax person either but this just stinks
Regardless of what you think of the Vikings stadium, the rent the Vikings will be paying is coming from the Vikings, not from the state. The money the U spends on athletics doesn't come from taxes. It comes from ticket sales and TV revenue. It is true, that some money has come from the universities funds, but that is just parking revenue reverting to the athletics department. That parking revenue is only there because of the sports teams. If there were no sports teams, the parking lots would be empty on the weekends. Don't try to figure what other uses you could make of the money spent by the athletics department, that money wouldn't EXIST if it wasn't for the athletics department.
qiguana, every year the U football program takes in more money than it spends. This "profit" is used to fund all the sports that do not make enough money. You are absolutely correct when you say that this extra $3 million will almost surely just be used to pay those bills. As a season ticket holder I would sure like to see it used to pay down the debt on TCF, help with the BB practice facility and help build the new baseball stadium. Paying off debts is always a great idea.
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Updated Aug. 22, 2011
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