Fifth Third Arena Renovation

Bearcat09 · 12-15-2015, 10:39 AM

Quote:

Originally Posted by JasonS

It's going to happen.

Without a doubt it's going to happen. I know people inside the program that are nervous about enough funding for even the new date. Their goal was to raise 40m-45m by December 1 and they reached a little less than 25m. Just keep your fingers crossed

jacobkdoyle · 12-15-2015, 11:31 AM

Quote:

Originally Posted by Bearcat09

Without a doubt it's going to happen. I know people inside the program that are nervous about enough funding for even the new date. Their goal was to raise 40m-45m by December 1 and they reached a little less than 25m. Just keep your fingers crossed

Let's all buy MegaMillions tickets until someone wins, and agree to fund the new arena with the winnings.

BCM · 12-15-2015, 05:21 PM

So I see "new 5/3rd" is the renovation off? Bulldozing it to ashes and standing a new building in its place? That feels like the way to go I think; UC architecture has passed that building by a far amount. Would 5/3rd still care for naming rights on it since PNC edged them out?

Bearcat513 · 12-15-2015, 08:06 PM

Pretty sure 5/3rd has the naming rights for a couple of more years. Which sucks because they don't have to pay for it to be on the new building....missing out on some serious $$$ there.

TheLongHaul · 12-15-2015, 09:20 PM

Quote:

Originally Posted by BCM

So I see "new 5/3rd" is the renovation off? Bulldozing it to ashes and standing a new building in its place? That feels like the way to go I think; UC architecture has passed that building by a far amount. Would 5/3rd still care for naming rights on it since PNC edged them out?

Was that ever really an option? That would have cost a fortune, which UC does not have.

Quote:

Originally Posted by Bearcat513

Pretty sure 5/3rd has the naming rights for a couple of more years. Which sucks because they don't have to pay for it to be on the new building....missing out on some serious $$$ there.

Not really since 5/3rd is already paying $$$ for those naming rights, new building or not.

Bearcat513 · 12-15-2015, 10:22 PM

Fifth Third already paid UC for the naming rights. They are giving UC no more money as of now.

TheLongHaul · 12-16-2015, 07:50 AM

Quote:

Originally Posted by Bearcat513

Fifth Third already paid UC for the naming rights. They are giving UC no more money as of now.

Whether they are still paying them over the life of the agreement or paid in a lump sum makes no difference. They paid UC to have naming rights over a given time frame. Plus, I doubt there is a huge jump in what UC could charge just because they renovated a building. So they aren't really missing out on money for this. 5/3rd didn't get those rights for free.

david aka the TYZ · 12-16-2015, 05:55 PM

Quote:

Originally Posted by TheLongHaul

Whether they are still paying them over the life of the agreement or paid in a lump sum makes no difference. They paid UC to have naming rights over a given time frame. Plus, I doubt there is a huge jump in what UC could charge just because they renovated a building. So they aren't really missing out on money for this. 5/3rd didn't get those rights for free.

Correct. Out of Mike Bohn's mouth, 5/3rd paid a certain amount, I forget how much, payable over time for naming rights for a designated period of time. I forget how much longer, I want to say 6 more years but that is purely a speculative guess on my memory. But he did say that they recently had paid in full. He was asked this at a donors meeting in front of about 300 people of which I was one about two months ago.

Bearcat513 · 12-17-2015, 05:52 PM

Quote:

Originally Posted by TheLongHaul

Whether they are still paying them over the life of the agreement or paid in a lump sum makes no difference. They paid UC to have naming rights over a given time frame. Plus, I doubt there is a huge jump in what UC could charge just because they renovated a building. So they aren't really missing out on money for this. 5/3rd didn't get those rights for free.

I know they paid them, I meant there wouldn't be a new bidding war or something for the rights to the "new" basketball arena UC is building. It will still be 5/3rd from the previous deal.

jacobkdoyle · 12-18-2015, 01:08 PM

@BearcatsTV
A trailer on the announcement of the Fifth-Third Renovations on the University of Cincinnati's campus https://t.co/a6A6P7w4K9

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12-15-2015, 05:21 PM	#73
BCM Epic Member Join Date: Feb 2014 Posts: 2,229	So I see "new 5/3rd" is the renovation off? Bulldozing it to ashes and standing a new building in its place? That feels like the way to go I think; UC architecture has passed that building by a far amount. Would 5/3rd still care for naming rights on it since PNC edged them out?

12-15-2015, 08:06 PM	#74
Bearcat513 Elite Member Join Date: Oct 2015 Posts: 1,395	Pretty sure 5/3rd has the naming rights for a couple of more years. Which sucks because they don't have to pay for it to be on the new building....missing out on some serious $$$ there.

12-15-2015, 10:22 PM	#76
Bearcat513 Elite Member Join Date: Oct 2015 Posts: 1,395	Fifth Third already paid UC for the naming rights. They are giving UC no more money as of now.

12-18-2015, 01:08 PM	#80
jacobkdoyle Epic Member Join Date: Mar 2014 Posts: 17,011	@BearcatsTV A trailer on the announcement of the Fifth-Third Renovations on the University of Cincinnati's campus https://t.co/a6A6P7w4K9