Wednesday, February 28, 2024

New Big 10 rumors thread






 





Interpreting the Redactions: My Takeaways Planning to Exit the ACC has other benefits: The planning process to round up the financial resources to exit the ACC began well before the discovery that the ACC’s Grant of Rights may terminate in 2027 instead of 2036. The creativity used to create a plan to pay a significant break-up fee with the ACC generated a financial plan that can now be redirected to bolstering all of FSU’s athletic programs. FSU could engage Private Equity Partners in three distinct businesses: FSU has already engaged Catalyst Healthcare Real Estate to help with its $116 million Football Operations Center. The details of that partnership are yet to be disclosed, but the JV was announced on January 31 by Catalyst. Click here to see their press release. Marketing and Media Rights (MMR) is the next candidate for a joint venture. It is all but spelled out on page 20 of the model. New revenue from premium seating at football and basketball games and concert revenues are included on a single spreadsheet which includes a management fee (likely to the JV partner) and a waterfall/split of net revenues between FSU and an “MMR Partner.” The only mystery is whether the concession operations fall to this JV or another partner. The third joint venture is highly speculative but could involve a new hotel development by the arena. If that is in the works, FSU has done an outstanding job with their redactions. Other related data:

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