Hearing that an agreement is close on football stadium naming rights. Announcement soon. Was told it’s a local financial institution.
Stadium Naming Rights
- Thread starter Knucklehank1
- Start date
You have to spell it "Mike Linning's" though, or else no one will know what you're talking about
I've been waiting with bated breath for years.
As soon as we bank the first ten million--the amount Tyra ACH-ed into Pizza Guy's checking account--we'll be back in the black on naming rights deals.
We may be the only school in the nation that now loses money on big corporate sponsors. Hell yes, we're good...
As soon as we bank the first ten million--the amount Tyra ACH-ed into Pizza Guy's checking account--we'll be back in the black on naming rights deals.
We may be the only school in the nation that now loses money on big corporate sponsors. Hell yes, we're good...
How would we lose money, since a sponsorship deal doesn’t cost us anything?I've been waiting with bated breath for years.
As soon as we bank the first ten million--the amount Tyra ACH-ed into Pizza Guy's checking account--we'll be back in the black on naming rights deals.
We may be the only school in the nation that now loses money on big corporate sponsors. Hell yes, we're good...
Glad they finally got this locked in. I was really surprised when I was told L&N was gonna be the sponsor.
I’d imagine most people will call it L&N Stadium or L&N Cardinal Stadium
Yes, the second one sounds pretty good. Lots of history with L&N and the old K&I railroad companies in Louisville. I had one grandfather that worked for L&N before retiring from Falls City and the other that retired from K&I.
The L&N guy at the presser said the site of the stadium is where L&N Credit union began as a credit union for the railroad employees. So that's cool
I'm reposting what I said today in a similar thread on the premium side of the pay wall...
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Someone count for me how many 'zipp' mentions are on page 6 this thread. LOL and thanks for your interest. Now for the substantive stuff...
This is a not an insignificant accomplishment for U of L. I didn't think they would approach $1.7 million annually based on various factors including what the downtown arena (under)achieved in 2020, the declining state of U of L football, and the financial capacity of a local credit union. I have to give credit where credit's due esp. to a group of clowns who consistently underperform.
I can of course poke holes in the deal because nothing's perfect... The financials are NOT front end loaded like these contracts often are so that the money gets banked before the sponsor fails or changes course. U of L will only bank money as the contract comes to term, and all they can do is sue if L&N decides to stop paying. The 2% escalator will probably understate the rate of inflation over the next 20 years which means $1.7 million in real dollars is the maximum U of L will receive annually after adjusting for inflation.
It will also be 2029 before U of L nets any naming rights revenue after the last AD paid off his friend, Pizza Guy. That means a decade (2019-2029) of lost revenue from this revenue source.
But $1.7 million in today's dollars is a meaningful amount of money to an athletic department that's losing $8-10 million annually. If Brohm can add a couple million net of his salary to football revenues, you're approaching half of the hole in U of L's annual budget.
And you have to stop digging the hole deeper before you can think about refilling it. Athletics won't resume the trajectory it was on and make up the ground it's lost anytime soon. But this naming rights deal and Brohm's hire are positive steps in that direction...
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Someone count for me how many 'zipp' mentions are on page 6 this thread. LOL and thanks for your interest. Now for the substantive stuff...
This is a not an insignificant accomplishment for U of L. I didn't think they would approach $1.7 million annually based on various factors including what the downtown arena (under)achieved in 2020, the declining state of U of L football, and the financial capacity of a local credit union. I have to give credit where credit's due esp. to a group of clowns who consistently underperform.
I can of course poke holes in the deal because nothing's perfect... The financials are NOT front end loaded like these contracts often are so that the money gets banked before the sponsor fails or changes course. U of L will only bank money as the contract comes to term, and all they can do is sue if L&N decides to stop paying. The 2% escalator will probably understate the rate of inflation over the next 20 years which means $1.7 million in real dollars is the maximum U of L will receive annually after adjusting for inflation.
It will also be 2029 before U of L nets any naming rights revenue after the last AD paid off his friend, Pizza Guy. That means a decade (2019-2029) of lost revenue from this revenue source.
But $1.7 million in today's dollars is a meaningful amount of money to an athletic department that's losing $8-10 million annually. If Brohm can add a couple million net of his salary to football revenues, you're approaching half of the hole in U of L's annual budget.
And you have to stop digging the hole deeper before you can think about refilling it. Athletics won't resume the trajectory it was on and make up the ground it's lost anytime soon. But this naming rights deal and Brohm's hire are positive steps in that direction...