I am pretty sure the stadium agreement “clearly” stated that this replaced his field naming rights agreement.
You’re correct, Recital D says it replaces, but it doesn’t explain what happens with the initial field donation. Is that included or supplemenral to that stadium agreement? Also, there would still have to be some sort of agreement remaining with McColl, right?
Judy Rose = Ronald Wayne
Morals aside, this deal was absolutely abysmal economically.
I know Mike HIll and co feel the same. Hell, anyone with a brain feels the same (except Phil and Judy apparently, but that’s defining “Brain” losely).
Hope they can find a solution that fits all parties here. But they’re in a tight spot.
The agreement states “for the life of the complex” and applies to expansions and additions. If the complex was to be demolished for a new stadium, the university would be able to market the naming rights of the new stadium; however, the issue would probably be litigated.
Yeah, I don’t see any way the facility would be torn down just to move on from his name.
Puts on tin foil hat
We play at Panthers Stadium for 2 years while the new David Tepper Football Complex is being built.
I’m saying the deal is not in perpetuity, but for the life of the complex. I’m not advocating to tear it down to move on from the name. Stadium expansion has been discussed numerous times on this board, usually as a requirement for changing conferences. If the university is looking at stadium expansion, then replacement should be part of the discussion, as we would be able to market the naming rights every decade or so.
It’s semantics. It’s in perpetuity for the life of the stadium. Realistically the stadium isn’t being torn down.
Agreed that the stadium is probably not being torn down any time soon, but if say in 2023, we decide to replace the stadium rather expand, then the university sold the naming rights for ~$1M/yr. That’s very much market rate. Now if we just expanded the current stadium and didn’t replace it until 2050 or so (or heaven forbid never), the deal is not so good.
Also, semantics are a big deal in contracts.
This thread just seriously went to us tearing down a six year old stadium LOL
All we have to do is come up with around $7 million to give JR to take his name down, and then we can resell this. If it is as easy to get a big name deal as this thread makes it sound, then it should be a no-brainer. We solve the JR bad juju problem immediately, and solve the bigger revenue stream problem shortly thereafter.
I’m all for finding an amicable solution. Perhaps the funds are diverted to the scholarship he endowed here or we find a way to transfer those funds to a charity of his choice.
clt says knocking the stadium down is the CHP move.
There is always the possibility of JR funding an expansion and giving us a more modern donation to see it happen. That’s complicated both by his unwillingness to address the allegations as well as SGA’s commitment to keep this issue in the public eye.
The possibility is real.
His offer would be politely rejected.
No way. If Richardson offers us a $25m check, it won’t be refused.
Now, do they say we received an anonymous donation to help with expansion? That could happen, but Jerry’s ego is even bigger than mine, so I doubt it.
There’s also defining what it means to demo the stadium. If we tear down the bathrooms and concession pods, is that enough? or do we have to fill the bowl with dirt?