DePaul Stadium Woes
Crain's Chicago Business is an amazing resource if you use it often enough. Like this article, telling us about the DePaul basketball team from 29 May 2013 - over a year-and-a-half ago and how their attendance sucked:
- DePaul University's men's basketball team would have to more than triple its annual attendance to meet the estimates made by the Metropolitan Pier and Exposition Authority (McPier) for a new event center near McCormick Place.
Attendance at Blue Demons home games in suburban Rosemont has averaged around 2,900 over the past three years, according to Allstate Arena ticket records obtained by Crain's. That's about 35 percent of the school's reported numbers and 30 percent of what McPier officials are projecting for the new arena. The city plans to spend more than $100 million in tax money on the facility to give the near South Side an economic jolt.
So, around 21 months ago, Crain's pointed out that DePaul would have to triple attendance to even come close with meeting McPier's estimated revenue stream. So you know that DePaul went right out and recruited top players, embarked on a publicity drive, and increased fans in seats, right?
Flash forward to10 March 2014 - a mere 8.5 months ago:
Flash forward to10 March 2014 - a mere 8.5 months ago:
- Two and a half years ahead of the scheduled opening of a 10,000-seat DePaul basketball arena next to McCormick Place, the Blue Demons' already meager attendance figures are heading in the wrong direction.
DePaul men's basketball attendance dropped 27 percent year over year this season to just more than 1,900 fans per game, according to Allstate Arena ticket records obtained by Crain's.
A total of 30,566 fans passed through the turnstiles at the Rosemont venue over 16 games this regular season based on the Ticketmaster scan system, which tracks exactly how many people come inside.
DePaul uses typical college accounting to claim triple that number, but they count tickets contributed to charities and blocks that DePaul buys itself for students, even if students don't show up....kind of like Rahm "estimating" camera and weed ticket revenue. It's all imaginary.
Now flash forward to this past holiday weekend to some pictures sent to us by an attendee:
Now flash forward to this past holiday weekend to some pictures sent to us by an attendee:
That doesn't look like there are 500 people attending, let alone 1,000, and nothing like the alleged 1,900 they averaged last year. And Chicago taxpayers are paying for one-third of this monstrosity.
Labels: money questions, un-fucking-believable
posted by SCC at 12:05 AM
63 Comments:
$100,000,000 from taxpayers for one stadium. What a waste. Instead we could have "The Great Chicago Fire Festival" for the next 20 years with another piece of crap built to honor Daley's thrown in.
Thanks Rahm for continuing to waste our money. And I almost forgot, here's a belated F-You for your birthday you POS.
Ok, so what is the real reason for the building of this arena ?
Casino ???
Just checked to see if I got paid yet because I wanted to see if the raise kicked in... No direct deposit yet, figures.
I seem to remember a rumor that Rahm wants the stadium for live entertainment in a casino complex. Seems to make sense.
IF this happened in a smaller city, where the local government is spending tax money without oversight, without public input, without plans based on reality, with a rubber-stamp-city-council, there would be a federal investigation, if not a federal takeover.
BUT NOT HERE!
DePaul University is nothing but a communist enclave here in Chicago. The faculty is so leftist that North Korea has honored the university as an ally in the fight against Capitalism and American aggression worldwide. ammannom although
"...And Chicago taxpayers are paying for one-third of this monstrosity." -- SCC
How about that Marriott nearby? Is that another gift from us to the Pritzkers?
"Them as has, gits."
Well, Chicagoans know for damn sure that today's Blue Demons are a mere shadow of what they were many years ago under then-coach Ray Meyer; you may recall that during Meyer's final years, the Blue Demons just about always made it to the Final Four. After Ray Meyer retired, DePaul turned the coaching duties over to Meyer's son Joey, a huge mistake; the Blue Demons never regained their former stature they enjoyed under his father, and in fact lost a lot of ground as a basketball team, and they've been left scrambling ever since. Just like DePaul erred in turning over the reigns of a former powerhouse team to Joey Meyer, the City has erred in jumping into a financial lose-lose relationship with DePaul in construction this stadium for the team...unless the city has other plans for it besides it being home base for a has-been BB team that has yet to prove itself.
Governments should never fund any sports stadiums. It's that simple.
If stadiums were money makers private investors would be all over them. But no private investors would ever get anywhere near these losers with their own money.
It's only when corrupt governments start propping up the losing enterprises of clouted friends that taxpayers' money gets shoveled into these money pits.
Alumni that live in Chicago may be more inclined to come to the new stadium. Students won't. Most would like a venue that they could walk to.
Builds it and they will come!
12-1-14@0617hrs
Anonymous Anonymous said...
IF this happened in a smaller city, where the local government is spending tax money without oversight, without public input, without plans based on reality, with a rubber-stamp-city-council, there would be a federal investigation, if not a federal takeover.
BUT NOT HERE!
12/01/2014 02:32:00 AM
Saw in the news that at least a half dozen chicago teachers union members are going to run for alderman next year. Could be interesting!
None of those figures matter to Rahm.
He does whatever the hell he wants.
It's Rshms way or the highway.
Build it once and they will come. Build many things and more people will come. Keep on building, and they will keep on coming.
At what point will you run out of people?
It's obvious that Rahms spawn will some day attend DePaul and this is the way to grease the skids. His son and daughter will get the best grades, graduate tops in their class etc thanks to daddy buying the school (with our money) a new stadium. And sure it will be done in time for his daughter to graduate at the stadium.
Money for this and other bogus projects but none for pension paybacks?
The stadium is a thank you from Obama to all the mindless progressives at De Paul who got out the vote in 2012.
seems like it's been said before.....the democrat/liberals have plenty of money to spend on bullshit, but can't seem to fix the pension crisis.....an added insult to the working class...
Anonymous Anonymous said...
Ok, so what is the real reason for the building of this arena ?
Casino ???
12/01/2014 12:45:00 AM
Cover for spending TIF money in that poor undeveloped area to build another hotel for those downtrodden billionaires, The Pritzkers.
It was always about expanding exhibition space for McCormick place and patronage jobs for the Mcpeir authority. Maybe even a McCormick place casino at taxpayer expense.
The media in this town, as usual, simply refuses to report that.
If you actually think that the taxpayers will ONLY be paying for 1/3 of it, you are sadly mistaken. This is Chicago. Only on appear does it look that way. The taxpayers will be paying 60-70% of it by the time they are thru with it.
It's not like Rahm has unfunded pension obligations to worry about.... he'll campaign to his buddy Bruce to kick the can down the road some more.
The spire tanked this idea SHOULD tank too!
As an alumni of DePaul I recall the best days of school basketball, the late 70's. It was fun when they played on campus in a crowded and noisy gym. I stopped going when they moved to Rosemont and as you can see so did many others. Too far to travel in bad traffic to watch a lousy team play. I, for one will be glad if they come back to the city.
Anonymous said...
DePaul University is nothing but a communist enclave here in Chicago. The faculty is so leftist that North Korea has honored the university as an ally in the fight against Capitalism and American aggression worldwide. ammannom although
12/01/2014 02:52:00 AM
Where will your kids attend college? According to people like you every university is a communist,Marxist,leftist bastion.
A couple weeks ago we heard about the almost $10 MILLION dollars the city spent to move the old house that was in the way of the stadium plans, well it seems that there also was a small bank building at the corner of 22nd and Indiana that was also in the way. The city coughed up enough money for that piece of property and building that the bank is now constructing a new multi-story building on Michigan Ave in the South Loop. A low ball guess is that the city paid much, much more than the $10 MILLION for the move of the old house. And NONE of this money being spent is part of the now inflated actual construction cost of the stadium.
Ot: where is the outrage over the beating death of a white man by a group of black teens on St.louis. wheres obama,sharpton,holder.....crickets...
Build it and they will come!
1051
Public Tax dollars being used to fund a private catholic University. Where's the Attorney General on this one?
Oh forgot she's too busy trying to stick to public employees.
It won't be 100 million. It will be 200 million, possibly 300 million.
Count on it.
-Citizen
Off topic:did you see the st Louis rams? Any repercussions from the NFL? No? Then we should boycott the NFL. Blue flu for all cops working security at the game Thursday night! We can't do it at our real jobs, so do it at that side job! Let them hear us
Never believe a word the government says.
Never believe any number they put forth either.
AND we hear the cost overruns are going to be tremendous.....why oh why can't we get the courts to make RAMMER fund the pension, instead of funding his friends???
And, by the way, why are we funding that in the first place? A private, for-profit school?
About as useless as the 55MIL for the Maggie Daley park....who her own hubby forgot less than a year after her death? Going out on the dating scene? That 155 MILLION could have been used to paydown the city's pension debt....w.t.f.
Well, Chicagoans know for damn sure that today's Blue Demons are a mere shadow of what they were many years ago under then-coach Ray Meyer; you may recall that during Meyer's final years, the Blue Demons just about always made it to the Final Four. After Ray Meyer retired, DePaul turned the coaching duties over to Meyer's son Joey, a huge mistake; the Blue Demons never regained their former stature they enjoyed under his father, and in fact lost a lot of ground as a basketball team, and they've been left scrambling ever since. Just like DePaul erred in turning over the reigns of a former powerhouse team to Joey Meyer, the City has erred in jumping into a financial lose-lose relationship with DePaul in construction this stadium for the team...unless the city has other plans for it besides it being home base for a has-been BB team that has yet to prove itself.
12/01/2014 03:17:00 AM
Depaul made 1 final four under ray meyer in 1979. in his final yrs they lost first game of tourney in 80,81,82 and didnt make tourney in 83. won one game in 84. the end
How about putting that money into the pension that is underfunded and needs to be paid by 2016. But hey what do I know. I'm just a stupid cop. This state and city is a fu@kin joke and the people that protect it will be punished for their hard work. That's why I'm doing everything I can to save every cent I can now because I can't count of the city making its promise to take care of me
if you build it, they will come...
the Cubs play in a 100yr old structure and haven't won in 106yrs and somehow fill the stadium almost every day
someone isn't crunching the numbers here very well, unless DePaul starts recruiting NBA caliber players they aren't going to make any money
the mistake by the lake II
There should be a Expose of this whole massive money pit....its not needed, folks don't attend DePaul basketball games on a regular basis..its just being built to keep the Board of Trustees in the Ritz....
Most of the alumni who actually go to the games live in the north west suburbs and will not fight all that traffic and go all the way to the new stadium.
O/T
Oprah Targeted in Foiled Terror Bomb Plot
HEY THANKS OBAMA FOR PROTECTING OUR BORDERS AND KEEPING AMERICANS SAFE /SARC
...
Emad Karakrah, currently held in Cook County, Illinois Jail on charges of making a false car bomb threat after leading police on a high-speed chase through Chicago with an ISIS flag waving from his car on August 28, 2014. Karakrah sought a plea bargain conference with Judge Evelyn Clay during his last court appearance on November 17, 2014. Karakrah’s public defender stated that she was waiting on additional discovery documents and an assistant state’s attorney disclosed that she was “looking for an FBI report.” Karakrah’s case was continued until December 3, 2014. It is not clear why Karakrah is not in federal custody pending terrorism charges.
Hector Pedroza Huerta is an illegal alien currently held in the El Paso County Jail. On August 13, Huerta was arrested in El Paso for driving intoxicated, a crime he has been twice convicted of (in 2009 and 2011). The feds quickly took over, charging him for the third time in five years with “reentry of a deported alien,” court records show. A federal magistrate judge granted the government’s order to hold Huerta without bond on August 19 and a few weeks later Huerta pleaded not guilty to the immigration charges, according to court records obtained by JW. But on October 7 Huerta was granted a “rearraignment” that ended up getting reset to October 9. At that “rearraignment” the illegal alien changed his plea to guilty, court records show. He is scheduled for sentencing on December 16 at 9 a.m. in Courtroom 422 at the U.S. District Courthouse in El Paso. Like his friend, Karakrah, it is unclear why Huerta is not facing federal conspiracy charges associated with the Chicago bomb plot. U.S. District Court Judge Frank Montalvo, handling Huerta’s sentencing, had previously presided over one of Huerta’s prior immigration cases (in 2009);
Judicial Watch sources detail that the other conspirators in the 2009 Chicago truck bomb plot are:
“Omar,” a male in his late-50s to early-60s, of Arabic ethnicity, who drove a taxi and had an ownership interest in a used car dealership and a gas station in suburban El Paso;
Two of the FBI’s “most wanted” terrorists: Jaber A. Elbaneh and Adnan Gulshair el Shukrijumah (a/k/a: “Javier Robles”); and,
Other, unidentified conspirators.
The plot called for the use of a U-Haul-style trailer, as well as a delivery-style “step van,” that was purchased at auction in El Paso, Texas. Sources say the bombs were constructed with the plastic explosive C-4 and Tannerite, a binary explosive of ammonium nitrate and aluminum designed for detonation by means of a high-velocity firearms cartridge. Officials believe the C-4 explosives were obtained from Fort Bliss, the sprawling US Army base in El Paso, and the Tannerite was brought into the United States from Mexico.Federal law enforcement officials and Illinois police reportedly interdicted the bombers before they arrived in Chicago, according to sources with knowledge of the investigation. It is not clear if federal law enforcement officials were entirely successful in exploiting intelligence opportunities presented by the foiled bomb plot.
Subsequently, two foiled bomb plots in Chicago were orchestrated by undercover FBI agents posing as terrorist co-conspirators: The 2010 Wrigley Field backpack bombing attempted by Sami Samir Hassoun; and a 2012 Jeep-bomb attempt by Adel Daoud.
* * * *
While the FBI elected to publicize and take credit for the two, foiled Chicago and Tampa bomb plots, the Bureau has never released information on the 2009 targeting of Oprah, or explained why it has allowed conspirators to languish in county jails on lesser charges.
read more: http://www.judicialwatch.org/blog/2014/12/oprah-targeted-foiled-terror-bomb-plot/
Rhams Roman Coliseum
Bread and Circuses Say LiL Caesar
This could have been many a nice park on Da South or West side
Well, Chicagoans know for damn sure that today's Blue Demons are a mere shadow of what they were many years ago under then-coach Ray Meyer; you may recall that during Meyer's final years, the Blue Demons just about always made it to the Final Four.
Always made it to the final four?? They have only been to the final four 2 times in their history....
What else can I pay for? aren't taxes out of control as it is?
Another "necessary" project where the taxpayer gets screwed. Somebody made lots of money.
After making several complaints to the Alumni Association of DePaul, in which I made several donations to the Public Service College, I removed myself from the Association. I told them that it was deceptive to say they needed money when they were spending it on a stadium. I also related that it wasn't right that the City was spending taxpayer money that should be put into the pensions. They stopped mailing everything.
I think if DePaul Alumni knew how their donations were being spent and how taxpayer's money is being diverted, there would be more Alumni leaving.
Hi SCC n Kids. 10 g here. Good days n Bad. Whatever placed ten large on NY Jets tonight +7 and same way on the OVER 42. Luv ya!
They beat Stanford, its a start of a turnaround!
I wonder if the dots will ever be connected... One of Rahm's brothers is half owner of Live Nation. I'm guessing Live Nation gets the ticket sales and will have multiple concerts now that they have a venue, and that my friends is the rest of the story.
Chicago has a half-dozen fewer mental health clinics, but 20-30 new dog parks.
Priorities...
"I seem to remember a rumor that Rahm wants the stadium for live entertainment in a casino complex. Seems to make sense..."
12/01/2014 01:22:00 AM
...especially when your brother Ari is a big rock promoter.
...and the other brother, Ezekiel "Doctor Death" Emanuel, can use the venue in off hours for mass euthanasia of those deemed by him to "have had complete lives."
Anonymous said...
Well, Chicagoans know for damn sure that today's Blue Demons are a mere shadow of what they were many years ago under then-coach Ray Meyer; you may recall that during Meyer's final years, the Blue Demons just about always made it to the Final Four.
Always made it to the final four?? They have only been to the final four 2 times in their history....
12/01/2014 03:02:00 PM
DePaul almost always made it to the NCAA Tournament at least. Those were real fun years. They played in the old Alumni Hall at Belden and Sheffield, capacity a bit more than 5,000. For games it was jammed and had a great feel to it. They filled it to capacity for most games. Not now. They had decent teams then, they were a team with a national reputation.
I think Rahm wanted a stadium there and used DePaul as the shill to put it on. Actually he wanted the hotel more. Now with Penny Pritzker as US Secretary of Commerce and Rahm giving them land and funds for hotels, Rahm is positioning himself to have the Pritzkers lined up to be big donors should Rahm want to run for higher office. Seems pretty certain to me. Forget Hillary, Rahm wants himself in that seat.
Can you imagine President Emanuel? Now that really sickens me.
Why doesn't the ballerino just flush the money down the toilet--it'd be faster.
I blame FOP!
scc there is a meme on the web showing a pta meeting, Election Day, black Friday crowds, and iPhone release. It is a good visual that demonstrates societies lack of civic duty and how consumer duty trumps it.
Where will your kids attend college? According to people like you every university is a communist,Marxist,leftist bastion.
12/01/2014 09:56:00 AM
I graduated from DePaul. They are a pack of leftist commies. Most of the schools in this commie town are leftist. You better teach your kids to think for themselves lest they be brainwashed by the likes of Bill Ayers or his commie wife at Northwestern.
SCC, talk about budgeting, look at the 2015 budget for the Police Department on the Cities own website.
Run the data set just for Police Officer - Assigned as Explosive Detection Canine Handler. The City has budgeted for 2 Public Transportation, 2 Midway, and 6 O'Hare Canine Handlers in the 2016 budget at the rate of $61,530. Now take a look at the 2014 Position & Salary Schedule for the Police Department, and this is the old Schedule before the new contract.
Title Code 9153 (Canine)
Position 1 1st 12 months on the job $61,530
Position 2 after 12 months on the job $65,016
Position 3 after 18 months on the job $68,382
Position 4 after 30 months on the job $71,748
Now you need to have 3 years on to take the test so how the fuck can you say you will have a total of 10 positions at a salary of $61,530 when you need 36 months on the job to take the test so would already making $71,748 if promoted with 3 years on?
Now this is just for 10 spots, where is the forensic account the FOP always says they are going to get to go through the Cities books? Someone should go through the whole department budget and see how many shady things like this there are and at how many untold millions is this budget off.
Now this is just for 10 spots, where is the forensic account the FOP always says they are going to get to go through the Cities books? Someone should go through the whole department budget and see how many shady things like this there are and at how many untold millions is this budget off.
12/01/2014 11:59:00 PM
Start with Marv Shear and our new head of Human Resources, both of which were allowed to retire and come back as civilians. This slick move doubled their salaries!
Nice. Real nice.....for them.
Follow the money. The land under the stadium and the surrounding area is held in a "blind trust". Any suggestions as to the names of the beneficiaries of this trust?
The numbers used in projecting revenues from the DePaul stadium are a joke. This place is going to wind up like the Olympic Stadium in Montreal, which lost its principal tenant when the Montreal Expos left to the Washington, D.C., that remains in debt. The original construction costs still have not been recovered and the place is so old that Bruce Jenner was still a man when he competed there in the 1976 Olympics.
As for DePaul graduates, disassociating yourself from the alumni organization is the best move that you can ever make. This communist outfit has been enabling the Daleys with diplomas for dimwits for years. Oh, remember the plan to convert the old Goldblatt's store into the new public library? Well, the best and brightest told us that it was not a workable plan. So now, DePaul converted the same space into an expanded downtown university campus, with Richard M. Daley's name festooned all over the place and the City of Chicago renting office space all throughout the concourse level.
The dealings between Chicago and DePaul stink to high heaven.
Fuck Crains.
Crains endorses assholes like Emanuel and Daley because they are part of the establishment hustle.
All BS
7:27...
His kids won't going to fuckin' DePaul.
Though it's academics are high, DePaul is still basically a commuter school for the uncircumcised help.
I graduated from DePaul. They are a pack of leftist commies. Most of the schools in this commie town are leftist. You better teach your kids to think for themselves lest they be brainwashed by the likes of Bill Ayers or his commie wife at Northwestern.
12/01/2014 11:23:00 PM
Actually there was some research done on this very topic and it indicated that more then 60% of educators in high school and college are far left wing or liberal. Only 11% came out as conservative and it was shown that being conservative dampens your academic career. Yes, these educators do influence or try to influence their students.
And the NCAA won't send a tournament game there because it doesn't seat enough.
The CEO of Citadel LLC, Ken Griffin, stands to make a lot of money off of the hotel deal. (see the Reader article here. http://www.chicagoreader.com/chicago/south-loop-hotel-benefits-rahm-donor-griffin/Content?oid=13056486)
Another interesting fact: the COO of Citadel, Gerry Beeson is on DePaul's Board of Trustees. I'm not sure what kind of fancy accounting he's doing, since DePaul most probably cannot cough up any extra money. The original 70 million is a stretch at this point. Bend over more,Chicago taxpayers!
Post a Comment
<< Home