[Farm93]

Saw the Chronicle article yesterday and decided it was not board worthy.  Isn't this old news really?  Nothing to see here.  UCB needed to renovate the stadium to keep Tedford, then they fired him anyway.

UCB only has about 55% of the revenue they anticipated from the elite section sales.  Worse, much of that 55% is pegged to mortgages that can be discontinued at any time.  So the UCB AD definitely is in for a world of hurt on this little scheme.  But what often goes unmentioned is that those seat rights eliminate a critical future revenue stream for UCB too.  Even if they sold all of those seats they will not be able to command additional ticket revenue from owners.

In the world of the UC budget the annual shortfall is not too demanding.  However, this little experiment should make it much more difficult for other creative UC funding projects in and out of athletics.  If that is the end result, then I guess it will be for the best.

FWIW - I still think the bigger crime is that UCB spent $300+ million on a project that looks like it could have been done for $40 million at the other Pac-12 university in the area.

[Farm93]

Saw the Chronicle article yesterday and decided it was not board worthy.  Isn't this old news really?  Nothing to see here.  UCB needed to renovate the stadium to keep Tedford, then they fired him anyway.

UCB only has about 55% of the revenue they anticipated from the elite section sales.  Worse, much of that 55% is pegged to mortgages that can be discontinued at any time.  So the UCB AD definitely is in for a world of hurt on this little scheme.  But what often goes unmentioned is that those seat rights eliminate a critical future revenue stream for UCB too.  Even if they sold all of those seats they will not be able to command additional ticket revenue from owners.

In the world of the UC budget the annual shortfall is not too demanding.  However, this little experiment should make it much more difficult for other creative UC funding projects in and out of athletics.  If that is the end result, then I guess it will be for the best.

FWIW - I still think the bigger crime is that UCB spent $300+ million on a project that looks like it could have been done for $40 million at the other Pac-12 university in the area.