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High Point U commits to basketball

bcobbdeacs said:
That debt will likely cause problems for them in the future!
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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.
 
RaleighTriad said:
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.
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Debt is a normal part of any business. I have been critical of High Point U through the years for accumulating so much debt but I am much more critical of Wake for not accumulating ANY debt. It is silly. We need some business minds running the show at Wake. No reason we should not be in a proper basketball facility at this point. We should absolutely borrow some to get there.
 
Rafi said:
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.
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TITCR. With the rising cost of private school education and the student debt crisis and the growing sentiment that incurring such student debt doesn't make sense - I wouldn't be surprised to see HPU having some real financial difficulty over the next couple of decades.
 
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 !
 
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.
 
macktheknife said:
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.
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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.
 
coredeac said:
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.
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That escalated quickly.

Coredeac, can you expand on your post? I don’t really understand your response. Mack’s post seemed pretty spot-on.
 
I have kind of viewed HPU as smoke and mirrors U as well. It seems to attract kids of really rich northerners who kind of screwed up in high school. As you might guess, this has produced a little bit too much of a party/drug scene.

Still, as time has gone by it is hard to deny that Qubein has made the campus into a pretty amazing place. It is hard to deny that he has started to draw better students even locally. I will be interested to see how this works out for HPU.

Qubein has certainly gone all in trying to do everything to succeed and thrive in modern times. Quite the opposite of Wake which has not adapted and is content with sliding backwards and maintaining its quaint spot as a top 25-40 school who stays out of trouble in athletics--content to thrive where possible in the nonrevenue sports.
 
Rafi said:
That escalated quickly.

Coredeac, can you expand on your post? I don’t really understand your response. Mack’s post seemed pretty spot-on.
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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!
 
coredeac said:
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!
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HPU has been called smoke and mirrors by national financial/education experts. Nido is taking risks that most universities wouldn’t think about doing. He will likely die as a rich egomaniac as HPU faces bankruptcy.
 
Not disputing the smoke in mirrors comments, but the article does say they’re paying for the arena in cash.
 
Bob I do not agree with you about our home stadium. It is a liability. Can we one off and have a small run in it? Of course. Does that mean it is ideal for us? Absolutely not. Miami’s football stadium is also a major liability for it—though college basketball’s home court advantage is bigger relatively than football.

I wasn’t looking to engrage in an arena debate here—though others here can vouch for my hundreds of hours here advancing such a notion. Suffice it to say I do not agree with your post.
 
donaldross said:
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
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Pat Kelsey is likely to be hired by Xavier tomorrow Yep and 3 weeks ago Wes Miller was about to be offered the job at Ole Miss. While it may yet happen, Asst head coach Travis Steele is considered a favorite for the job at X, just for the sake of great continuity. Pat Kelsey is also in the running, as is John Brannen of N KY & also Thad Matta. We shall see.
 
And others can also vouch that I was publicly calling for a new arena at the height of the Duncan years as well. I predicted exactly what occurred—a giant failure upon his departure without the right facility—and did so publicly.
 
qcdeac said:
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 !
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Oh yea, all that record amount of money that the Southern Conference gets......the kind of money that made App St & Ga southern leave for D1 football kind of money in the crappy Sunbelt. ;)
 
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