buckets
#1 Bald Hero
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- Mar 28, 2011
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Why do you need an old alum to coach while you upgrade facilities ? Is he a general contractor too ?
he's a safe bet to keep the program at a decent level
Why do you need an old alum to coach while you upgrade facilities ? Is he a general contractor too ?
It's not fact to assert nonsensically that "Wake Forest does not [think the investment of hiring Tubby Smith as head coach and building a 4500 seat on-campus arena is worthwhile]."
That debt will likely cause problems for them in the future!
They will simply add more execs from local banks in order to keep borrowing money. However, when another 2008 recession hits, the school might be forced to close its doors.
Tubby Smith is 66 years old. The new basketball arena was announced over a year ago, but they are just now unveiling more details. High Point currently plays in a 1750 seat on-campus arena with the students on the floor, and they are replacing it with a 4500 seat arena that their president described as "elegant." They currently do not sell out their 1750 seat arena - their last game of the year was a 13 point home loss to Longwood in the first round of the Big South tournament. The announced attendance was 813. This is not going to end well.
Many here have opined the Wake Forest $1.2 Billion endowment is unsatisfactory. High Point University stands at $40 million. IMO change the name to Smoke and Mirrors U. Conservatives across the globe just have to puke on this.
High Point! The Triad's real team.
You really don't have a clue what the fuck you're talking about but if it helps you sleep at night, good luck with it.
That debt will likely cause problems for them in the future!
That escalated quickly.
Coredeac, can you expand on your post? I don’t really understand your response. Mack’s post seemed pretty spot-on.
It's not spot-on. I'm heavily involved with HPU as a parent and have served on several boards at the school. I'm not going to spend the rest of the evening discussing how funds are/were raised through
private donations. Dignifying some jackass's statement of "Smoke and Mirrors U" with absolutely no factual basis is not worth my time.
As a Wake alum who holds both an undergraduate and professional degree, I would highly suggest we all take a sobering look in the mirror before pissing on other universities. We have plenty to be fixed!
After hiring Tubby Smith, High Point has committed 120 million to a new on campus arena that seats only 4500 people.
The school is 165 Million in debt. It thinks it is worth the investment even though HPU is in the lowly Big South and has no real history of basketball success. HPU has used business means (& leverage) to enhance its product unlike the more typical Wake Forest method of paying cash. It is unknown at this time whether the new HPU building will be structured for winning with the students on the floor.
The AD at High Point, Dan Hauser, spent 7 seasons in the Wake Forest Athletic Department.
Wake Forest last broke ground on a new basketball stadium in 1934. We have appeared in 1 Sweet 16 and 0 ACC tournament championship in the last 22 seasons. Wake is 1-2 in the post expansion era in the ACC tournament quarterfinals--by far the worst record in the 15 team league.
High Point feels this investment is worthwhile. Wake Forest does not. It will be interesting to see the results of this decision in the coming years.
In other news today, Pitt hired Jeff Capel and Louisville hired Chris Mack. Pat Kelsey is likely to be hired by Xavier tomorrow--all spent time with the Wake Forest program during their lives. None were ever offered the job at Wake Forest.
http://www.greensboro.com/news/scho...cle_27cc49a1-4417-5cce-90cb-2cee8e3fa473.html
If they move up to play in Wes Miller and UNC-G's conference, they will have all that TV contract money, though! Debt goes away and problem solved !