The Tale of the Very Bad Idea ... an on-campus stadium
This is the story of Fort Collins, CO and a powerful University president who threatened the entire city with a terrible on-campus stadium that would change their lives forever!
2012
A medium-sized state university in the heartland is told that college football riches are within their grasp.
The charismatic, egotistical, politically-motivated president of the school, seeing an opportunity to further his career and get his name on a new, state-of-the-art $250 M stadium, launches a campaign to raise half the estimated cost from alumni and local donors.
A multinational stadium builder assists in promoting a new on-campus facility with many PowerPoint presentations and glossy publications.
Local citizens rise up in horror realizing the future that awaits them: “traffic congestion, noise, crime, light pollution, inadequate city streets and transport, and a 125-foot tall monstrosity in a residential neighborhood … “
Fast forward to October 2014
2014
The donations goal is not achieved – on $2 M in cash is received, with another $25 M in pledges and “estate gifts.”
Citizen opposition groups are formed while stadium promoters orchestrate fake letters to the editor, phony advisory committees, and one-sided public meetings to preach “it’s a done deal!”
Forging ahead without thinking, the unelected members of the Board of Governors approve the project, rather than listen to citizens and fire their charismatic leader.
The president’s men engineer a revenue bond sale for 120% of estimated costs based on a financial analysis bought and paid for by the stadium architects and builders. The magic words “state-backed bonds" enable underwriting by Morgan Stanley and the Royal Bank of Canada.
The Chamber of Commerce, the Board of Realtors, the GOP, and the local Gannett newspaper (the only voice in town) cheer on the president and his plans to spend hundreds of millions of dollars of new debt on a stadium that can never succeed financially in this little town.
The citizens cry out, but no one hears them!
2015
Local citizens point out that the home team cannot fill its existing stadium, that the Athletics Department lost $25M in 2014, that parents don’t want their kids to play football anymore, that citizens have many other activities to enjoy, and that a 50,000 seat entertainment complex would change their town forever, for the worse.
The stadium promoters forge ahead, ignoring the pleas of the citizens, drowning out their voices with the mantra, “it’s a done deal.”
Bottom line
The bullied and beleaguered citizens of Fort Collins need help in shaming the pompous, untruthful president, his faithful Board of Governors, and the obedient Gannett paper for this assault on their hometown, which has been recognized as the best place to live in the nation, several times over. Shovels have not yet been put in the ground, but once they are, this town will never be the same again!
2012
A medium-sized state university in the heartland is told that college football riches are within their grasp.
The charismatic, egotistical, politically-motivated president of the school, seeing an opportunity to further his career and get his name on a new, state-of-the-art $250 M stadium, launches a campaign to raise half the estimated cost from alumni and local donors.
A multinational stadium builder assists in promoting a new on-campus facility with many PowerPoint presentations and glossy publications.
Local citizens rise up in horror realizing the future that awaits them: “traffic congestion, noise, crime, light pollution, inadequate city streets and transport, and a 125-foot tall monstrosity in a residential neighborhood … “
Fast forward to October 2014
2014
The donations goal is not achieved – on $2 M in cash is received, with another $25 M in pledges and “estate gifts.”
Citizen opposition groups are formed while stadium promoters orchestrate fake letters to the editor, phony advisory committees, and one-sided public meetings to preach “it’s a done deal!”
Forging ahead without thinking, the unelected members of the Board of Governors approve the project, rather than listen to citizens and fire their charismatic leader.
The president’s men engineer a revenue bond sale for 120% of estimated costs based on a financial analysis bought and paid for by the stadium architects and builders. The magic words “state-backed bonds" enable underwriting by Morgan Stanley and the Royal Bank of Canada.
The Chamber of Commerce, the Board of Realtors, the GOP, and the local Gannett newspaper (the only voice in town) cheer on the president and his plans to spend hundreds of millions of dollars of new debt on a stadium that can never succeed financially in this little town.
The citizens cry out, but no one hears them!
2015
Local citizens point out that the home team cannot fill its existing stadium, that the Athletics Department lost $25M in 2014, that parents don’t want their kids to play football anymore, that citizens have many other activities to enjoy, and that a 50,000 seat entertainment complex would change their town forever, for the worse.
The stadium promoters forge ahead, ignoring the pleas of the citizens, drowning out their voices with the mantra, “it’s a done deal.”
Bottom line
The bullied and beleaguered citizens of Fort Collins need help in shaming the pompous, untruthful president, his faithful Board of Governors, and the obedient Gannett paper for this assault on their hometown, which has been recognized as the best place to live in the nation, several times over. Shovels have not yet been put in the ground, but once they are, this town will never be the same again!