UA to Renovate the JAR

[ZippyRulz]

Diebold is a very conservative (stingy) company. I would say replace them on the list with J.M. Smucker.

 

[ZippyRulz]

On 5/17/2016 at 4:22 PM, Blue & Gold said:

About that proposed new arena...  LeBron's lifetime Nike deal worth $1 Billion.

 

We've got to be able to piece together $80 million.

 

$80M is only 8% of $1B 

 

 

Edited May 19, 2016 by ZippyRulz

[Z.I.P.]

On ‎5‎/‎17‎/‎2016 at 10:22 AM, Blue & Gold said:

About that proposed new arena...  LeBron's lifetime Nike deal worth $1 Billion.

 

http://cavsnation.com/report-lebron-james-deal-nike-worth-an-insane-amount/

So, I would say that Mavs Carter's decision to take the Nike internship kind-of paid off!

[K-Roo]

And CSU wants to downsize from Wolstein Center 

 

Cleveland State University may demolish Wolstein Center for smaller arena, housing

Edited May 23, 2016 by K-Roo

[kreed5120]

36 minutes ago, K-Roo said:

And CSU wants to downsize from Wolstein Center 

 

Cleveland State University may demolish Wolstein Center for smaller arena, housing

 

I can see how them building it that large in the 1st place was a mistake, but it's not like building a new arena is cheap. The $1 million per year deficit seems pretty small compared to what the Zips are losing on their football stadium. Unless they are able to find someone willing to pay for this new arena, I don't see how they come out ahead.

[skip-zip]

2 hours ago, kreed5120 said:

 

I can see how them building it that large in the 1st place was a mistake, but it's not like building a new arena is cheap. The $1 million per year deficit seems pretty small compared to what the Zips are losing on their football stadium.

 

I'd guess that an outdoor football field with stands and artificial grass doesn't even compare to the operating costs of an indoor arena. 

[Spin]

3 hours ago, kreed5120 said:

 

I can see how them building it that large in the 1st place was a mistake

To be fair, it wasn't a bad idea when the Cavs, Lumberjacks, and Thunderbolts were in Richfield. They hosted the Crunch (the only profitable team in the league) and quite a few shows that clashed with similar shows at the other arena (which at the time was 20 miles away. A few years later the "big time" arena is 0.7 miles away).

 

The Vikings were a big deal when the arena was under development with a Sweet 16 run and a string of winning seasons. Of course later came the NCAA sanctions and soon after the coach was in drug rehab. That's not quite the way to build a major college program. 

 

Like so many other things Cleveland, "it seemed like a good idea at the time."

Edited May 24, 2016 by Spin

[kreed5120]

2 hours ago, skip-zip said:

 

I'd guess that an outdoor football field with stands and artificial grass doesn't even compare to the operating costs of an indoor arena. 

 

It wouldn't be the operating cost of a new arena that I'd be comcerned about. It would be the financing cost. 

[kreed5120]

1 hour ago, Spin said:

To be fair, it wasn't a bad idea when the Cavs, Lumberjacks, and Thunderbolts were in Richfield. They hosted the Crunch (the only profitable team in the league) and quite a few shows that clashed with similar shows at the other arena (which at the time was 20 miles away. A few years later the "big time" arena is 0.7 miles away).

 

The Vikings were a big deal when the arena was under development with a Sweet 16 run and a string of winning seasons. Of course later came the NCAA sanctions and soon after the coach was in drug rehab. That's not quite the way to build a major college program. 

 

Like so many other things Cleveland, "it seemed like a good idea at the time."

 

That is a fair point. Perhaps had CSU been able the sustain the success it wouldn't look so bad.

[scottditzen]

17 hours ago, K-Roo said:

And CSU wants to downsize from Wolstein Center 

 

Cleveland State University may demolish Wolstein Center for smaller arena, housing

The Wolstein is an example of very poor urban design. I'm not saying it's the only reason its been failing miserably; there's certainly some other factors. But it's indicative of how you have to build the right building to match the surrounding environment. This facility was built in an outdated, suburban model that wasted tons of space. The design didn't provide any semblance of residential or retail amenities along the street. These two components, residential and retail, would have generated revenues for the property instead of creating what is essentially a lifeless dead zone. Now the blocks around CSU are finally being revitalized with new housing, restaurants, theaters etc. and instead of being a catalyst for more positive development, it's instead a financial and physical impediment to growth. It was big mistake. 

 

[skip-zip]

14 hours ago, kreed5120 said:

 

It wouldn't be the operating cost of a new arena that I'd be comcerned about. It would be the financing cost. 

 

Financing Cost? 

 

In CSU's case, decades later, I'm sure those costs are all likely in the past.  The cost to maintain and operate that indoor arena on a day-to-day basis has to be the issue.   

[kreed5120]

20 minutes ago, skip-zip said:

 

Financing Cost? 

 

In CSU's case, decades later, I'm sure those costs are all likely in the past.  The cost to maintain and operate that indoor arena on a day-to-day basis has to be the issue.   

 

Exactly! The only cost of the Wolstein Center is operating costs. A new arena would have both an operating and financing cost component. They say they are losing ~$1 million per year thru operations on the Wolstein Center. The Zips currently pay ~$4 million per year for their $60 million stadium. Lets say CSU new arena cost 2/3 of that. Their financing cost per year on a new arena would be $2.66 million. Sure the operations cost will be cheaper having a new arena, but I don't see it being $2.66 million per year cheaper.

 

In the end CSU would come away with a nice new arena, but would end up spending more per year until the new arena gets paid off.

 

Edit: Of course if they got a wealthy alum or company to flip a large chunk of the cost, it would be a different story.

Edited May 24, 2016 by kreed5120

[lance99]

On 5/17/2016 at 4:22 PM, Blue & Gold said:

About that proposed new arena...  LeBron's lifetime Nike deal worth $1 Billion.

 

http://cavsnation.com/report-lebron-james-deal-nike-worth-an-insane-amount/

 

LeBron 

I just do not see it. Does plenty for the Community now.

Nike

Not Happening while Nike Money is being thrown around at Oregon.

UA

No Cash

City of Akron

No Cash

Summit County

They tried already, but the way they served it up the last time, might have killed any plans.

FirstEnergy

Do not see it, but I could be wrong on that one

Summa

There name is already on the field and since they merged, I am not even sure if they are even going to be in town in the next 5 years....

Akron General / Cleveland Clinic

There is no way that anyone from Cleveland(business or otherwise), is going to help Akron right now, other than LeBron.

Goodyear

I said this 5 Years ago here at ZipsNation: There is only one place locally that can "Write the Check" and Goodyear has not incated that they are going to do that. I stand by that statement I made then.

Diebold

See ZippyRulz Post

Firestone

That would be one heck of a Sales job because someone would have to go to Japan and give the sell of their lives!

Huntington & PNC increasing their presence in NEO w/ new regional headquarters in Akron.

I am not sure if they would be interested right now....

 

 

 

I am not sure that there are any options left...

Edited May 24, 2016 by lance99
Added posters name for reference

[wadszip]

On 5/24/2016 at 0:22 PM, lance99 said:

 

I am not sure that there are any options left...

Blue & Gold's post was spot on. 

Really, just two options.

 

1. LeBron's philanthropy: While, he will continue to do things for UA, doubt it will ever be something like being the main donator/business partner for a new arena. I could see him chipping in some money to help an arena be financed (especially if there is a benefit to some of the things he does ... home for his skills academy and other basketball related ventures), but thinking he is gonna be the main force in a new arena is a pipedream.

 

2. Goodyear: this is the one multinational corporation, like B&G said, who could cut the check for their hometown. But while Goodyear is involved in sports, it is mainly automotive sports (NASCAR), which makes a ton of sense considering the business it is in. Still, the most likely, but would be a total philanthropic move. And since just keeping world headquarters, for better or worse reasons, is pretty philanthric in its own right. Doubt Goodyear believes it owes anymore to Akron than what it has been doing.

 

3. FirstMerit: this was the biggest dark horse since unlike Goodyear or FirstEnergy (Browns Stadium), it has no sports naming rights deals. But the Huntington deal killed that as Huntington was a big player in getting the new AAA stadium built in Columbus. It won't throw a bone to a regional hub like Akron. That's unfortunate because FirstMerit wasn't a distressed banking company that had to merge for survival.

 

Edit: I'll throw out one unmentioned new dark horse .... Key Bank. It's a top 20 banking company in the US and has some history of backing arenas (Key Center in Seattle). The Key Center was a 1960s venture (and I'm guessing Key wasn't interested in helping Seattle get a new arena since the Sonics moved to OKC.... Though it was a sham deal as the Sonics were moving to the owner's hometown regardless.) Anyway, with the loss of FirstMerit (and National City a few years back), maybe backing an arena in Akron could help strengthen its standing in NEO now that the two biggest competitors PNC/National City (Pittsburgh) and Huntington/FirstMerit (Columbus) are outsiders.

Edited May 26, 2016 by wadszip

[kreed5120]

I feel the only way Akron gets corporate sponsors to build a new arena is if Akron actually experiences some March Madness success. Right now it would just be a poor use of marketing dollars for any company. Progressive Insurance paid $58 million dollars for 16 years of naming rights to Progressive Field. The Indians play 162 games with each game being watched on TV by hundreds of thousands of people and well over 1 million people attend a Tribe game each year. Not to mention the field is in the heart of downtown so I can't even guess how many cars drive past it each day.

 

There are people in Seattle, Chicago, New York, Tampa that know Progressive Field. You would be hard pressed to find out of market people who know what the JAR is and know what team plays in it.

 

Edit: An $80 million arena sounds overly ambitious for a team that doesn't even average 4k fans per game. The 1st step towards getting a new arena is setting realistic expectations. If you make 40k per year, going out and buying a 100k porsche makes little sense.

 

Gonzaga paid ~$30 million (in today's dollars) for their arena. If that's good enough for them, why is a similar priced arena beneath us?

Edited May 26, 2016 by kreed5120

[Captain Kangaroo]

4k per game in that arena, with our schedule, is a miracle.

 

I invited 15 co-workers from Germany to a Zips football game 2 years ago. We had a great time. First class facility, we could have a couple beers inside the stadium, great day, fun tailgate...it was nice.

 

After the football season, someone from the UA ticket office asked me if I'd like to bring a work group to the JAR for a game. I replied "Not a chance."

 

Bottom line - You cannot entertain business clients on wooden bleachers. With no beer/wine/cocktails/etc. Along a similar line - your typical professional adult cannot take a date to sit on wooden bleachers. 

 

A nicer arena would generate a lot more revenue. More businesses would find it attractive, and the public would be much more apt to attend if the comforts were nicer.

 

If you have wooden bleachers and Coppin State...you don't need me to tell you what attendance and revenue you generate. And that will always be the argument against building a classier venue merited by the Zips. So one will never be built unless LeBron gives it to us.

[Dr Z]

19 minutes ago, Captain Kangaroo said:

So one will never be built unless LeBron gives it to us.

I refuse to believe it can not be done to benefit both parties? LeBron is making a legacy off the court in his home town. There has to be some interest. I would guess a poster or two will respond by saying it's not possible, that it has already been explored. But has it been presented the proper way by the proper people? President Scarborough and LeBron already have an existing venture with the scholarship program, seems like an expansion of that could be explored.  

[kreed5120]

6 minutes ago, Captain Kangaroo said:

4k per game in that arena, with our schedule, is a miracle.

 

I invited 15 co-workers from Germany to a Zips football game 2 years ago. We had a great time. First class facility, we could have a couple beers inside the stadium, great day, fun tailgate...it was nice.

 

After the football season, someone from the UA ticket office asked me if I'd like to bring a work group to the JAR for a game. I replied "Not a chance."

 

Bottom line - You cannot entertain business clients on wooden bleachers. With no beer/wine/cocktails/etc. Along a similar line - your typical professional adult cannot take a date to sit on wooden bleachers. 

 

A nicer arena would generate a lot more revenue. More businesses would find it attractive, and the public would be much more apt to attend if the comforts were nicer.

 

If you have wooden bleachers and Coppin State...you don't need me to tell you what attendance and revenue you generate. And that will always be the argument against building a classier venue merited by the Zips. So one will never be built unless LeBron gives it to us.

 

I'm not against a new arena as I agree it would help improve the atmosphere and help with recruiting. I just think building an $80 million, 10k+ seat arena is a bit overkill. We've seen what it has done to CSU. I'd much rather have something in the neighborhood of 7k seats that way the Zips have a chance of consistently filling it. I'd want it to have premium seats that appeal to businesses and professionals.

 

I get Coppin State isn't a draw, but a new arena isn't going to suddenly make Pitt, Minnesota, or or a Wisconsin come to play in Akron (it certainly wouldn't hurt). Akron needs to have some postseason success to make that happen.

[kreed5120]

10 minutes ago, Dr Z said:

I refuse to believe it can not be done to benefit both parties? LeBron is making a legacy off the court in his home town. There has to be some interest. I would guess a poster or two will respond by saying it's not possible, that it has already been explored. But has it been presented the proper way by the proper people? President Scarborough and LeBron already have an existing venture with the scholarship program, seems like an expansion of that could be explored.  

 

I don't think it is impossible for Lebron to donate a large sum of money towards a new arena. He seems just so much more focused on wealth accumulation at this stage of his life. I can see him making a sizable contribution sometime down the road.

[Dr Z]

5 minutes ago, kreed5120 said:

 don't think it is impossible for Lebron to donate a large sum of money towards a new arena

Personally, I think this would be the wrong way to approach him. It has to be creative, and benefit both parties. The solution exists. 

[kreed5120]

1 hour ago, Dr Z said:

Personally, I think this would be the wrong way to approach him. It has to be creative, and benefit both parties. The solution exists. 

 

He's already getting free education for thousands of kids by just letting the University use him for ads and for him to make a few appearances. The University doesn't really have anything left to offer him. I can see him make a donation at some point just because him and the University had a good relationship and he cares for the community. At the end of the day any gift he gives is because he is looking to be charitable. At least any gift of a sizable amount to get the project rolling.

 

Honestly, having a new arena would benefit Lebron's camp, but it wouldn't benefit it to the tune of $20 million or so. Where he could be incredible useful is by helping to pitch a new arena to corporate sponsors and alumni. When Lebron speaks, people listen. He could get businesses to front money for premium seating. He could help land some smaller sponsors by his name being connected to the basketball team. He could agree to let Goodyear or Huntington use his brand to market their companies as part of the package of them acquiring the naming rights.

[ZachTheZip]

LeBron's name carries a lot of weight. You put his name on an arena, and other companies will jump aboard to have their name next next to his. Naming rights for the court and for the entrances/lobbies would be the big ones. The money that comes from that takes off some financial pressure from the primary investors.

 

Basically, we don't need him to pay for the whole thing, just to get the arena naming rights.

Edited May 26, 2016 by ZachTheZip

[GoZips]

Pertaining to Cleveland State; does not CSU still have the infamous

Homer E. Woodling gymnasium? The only basketball arena with the

word "homer" written on the wall?

 

At 2,500 seats Woodling is currently excess capacity for CSU games.

 

What is the feasibility of selling Wolstien to UA and moving the

structure to the Akron campus? Those ugly dark green seats have to go.

[Dr Z]

1 hour ago, ZachTheZip said:

LeBron's name carries a lot of weight.....we don't need him to pay for the whole thing, just to get the arena naming rights.

If I were representing LBJ, he would invest very little capital into the project, have the arena named after him...and more. 

[ROCK1]

On 5/24/2016 at 11:56 AM, skip-zip said:

 

Financing Cost? 

 

In CSU's case, decades later, I'm sure those costs are all likely in the past.  The cost to maintain and operate that indoor arena on a day-to-day basis has to be the issue.   

Cleveland State, Wright State and Ohio all got gobs of "boondoggle" money from the state, pushed by their area representatives, to overbuild arenas because they thought they were going to be Ohio State.