City of Memphis Gifts Simmons Bank Liberty Stadium to the University of Memphis

[UNTLifer]

Not NT Football related so move if needed.  This is how universities and towns should work together.

https://www.athleticbusiness.com/facilities/stadium-arena/article/15660656/memphis-city-council-approves-transfer-of-simmons-bank-stadium-to-university-of-memphis?utm_source=Newsletter&utm_medium=email&utm_campaign=ATHLCD231220002&utm_term=&oly_enc_id=9130G4710801F3S

The Memphis (Tenn.) City Council on Tuesday voted to gift Simmons Bank Liberty Stadium to the University of Memphis foundation so the school can help fundraise money for necessary renovations. 

According to the local ABC affiliate, the vote allocates $120 million in state funding to the U of M for upgrades and paves the way for a $50 million gift from FedEx founder Fred Smith. 

[NorthTexan95]

Is this a good thing for Memphis?  At least they get some cash for upgrades but in future years, this could turn into a financial pit for the university.  

[untbowler]

City of Memphis and University also worked together and just opened up a brand new 24 outdoor and 12 indoor Court Tennis Facility, that I would bet will host an ITA National Indoor or Outdoor Tournament in the coming years

[Mean Green 93-98]

8 minutes ago, NorthTexan95 said:

Is this a good thing for Memphis?  At least they get some cash for upgrades but in future years, this could turn into a financial pit for the university.  

According to the statement

Quote

the vote allocates $120 million in state funding to the U of M for upgrades and paves the way for a $50 million gift from FedEx founder Fred Smith. 

, it would have to be a good thing for U of M.  They already have a paid-for stadium, which puts them in a better financial position than we are.

Edited December 20, 2023 by Mean Green 93-98

[NorthTexan95]

1 minute ago, Mean Green 93-98 said:

According to the statement

, it would have to be a good thing for U of M.

$120M is good ... but is that enough?  Or does the stadium really need $170M of upgrades?  I question if the city is giving the stadium away just because they love the university.  

[NorthTexasWeLove]

Memphis is the next in line and they are posturing for that moment. Meanwhile, we keep doing UNT things...practically nothing. 

[Mean Green 93-98]

13 minutes ago, NorthTexan95 said:

 I question if the city is giving the stadium away just because they love the university.  

I certainly wouldn't say that's the reason.  But it's certainly possible that this arrangement is mutually beneficial.  I find it hard to believe that this will put them in a worse financial position with regard to their stadium than we are presently in.

[greenminer]

Geez, was thinking with this and the FedEx forum, is there a program in the country that gets more benefit/assistance from its surrounding city than the Memphis Tigers?

Edited December 20, 2023 by greenminer

[Meangreen Fight]

6 hours ago, NorthTexasWeLove said:

Memphis is the next in line and they are posturing for that moment. Meanwhile, we keep doing UNT things...practically nothing. 

@NorthTexasWeLove your comment didn’t deserve downvotes.  But it is factually incorrect.  They are already campaigning for improvements to the facilities with gameday seating.   
 

https://lightthetower.com/wp-content/uploads/2023/01/updated2023_AC-Expansion_Final-Interactive.pdf

Now if you are referring to basketball facilities I can understand the frustration.

[Arkstfan]

It's a wash.

Liberty Bowl renovations have been kicked down the road many times because you do too much and ADA compliance starts kicking in on some issues grandfathered in. It's a big molded piece of concrete and renovations aren't cheap, especially to comply with accessibility issues.

In the long run, it's a good deal because the city wants to preserve the Liberty Bowl game and more needs to be done than the city could justify. Getting donations wasn't really a big option for the city. First of all the city doesn't have a fund-raising staff to solicit donations and they don't have a donor list to work from.

By turning it over to Memphis State they can solicit their fans to make up where the appropriation comes up short. 

The city and university for a long time were at cross purposes regarding the stadium. Memphis back in the 1970's was projected to explode the way Atlanta and Austin have and it didn't happen but basically from 1970 to 1995 Memphis was on any list of potential NFL expansion sites and in 1974 it was widely believed that had the WFL not put a team in Memphis that Memphis and Seattle would be the additions announced in 1974 for the 1976 season.

Memphis nearly landed the Colts.

So for years the city pursued NFL and what they needed the stadium to be for that didn't align with what the Tigers needed it to be.

When Jacksonville and Charlotte got picked over Memphis, St. Louis and someone I can't remember, the NFL had talked to Memphis about a shared franchise. They asked Memphis if they'd be willing to move two to three home games a year to Nashville. Weren't happy but they talk with Nashville it's all warm and fuzzy then all of a sudden Nashville says not interested and pulls out of it and tells NFL they've no interest in working with Memphis despite not being a finalist for the expansion.

Jacksonville and Carolina are announced and BOOM Adams announces he's moving the Oilers to Nashville.

Once that happened Memphis accepted they are never getting in the NFL.

That has changed the dynamic, there's no concern about making the stadium NFL ready, and best use is keep Liberty Bowl game vibrant while Memphis maximizes revenue at that site instead of having to buy land because they really don't have space for a stadium. 

So yeah long term it works well for everyone at least on paper.

[golfingomez]

On 12/20/2023 at 12:51 PM, greenminer said:

Geez, was thinking with this and the FedEx forum, is there a program in the country that gets more benefit/assistance from its surrounding city than the Memphis Tigers?

Tuscaloosa, college station, State college... You could go on and on with cities that are structured around p5 colleges...

[Mean Green 93-98]

1 hour ago, golfingomez said:

Tuscaloosa, college station, State college... You could go on and on with cities that are structured around p5 colleges...

I think the two of you are making two very different points.

[NT80]

I always considered Memphis, Louisville, Nashville, and Cincinnati as similar size cities and supportive college towns. 

Cincy does have the edge in Pro sports, but Nashville is gaining and booming now.  They have the NFL Titans and NHL Predators and are mentioned as possible in the next round of MLB expansion. 

I had no idea about exact city sizes, but here they are since media market is such a factor these days (2021):

Memphis = 628K

Louisville = 628K

Nashville = 692K

Cincinnati = 308K

 

[rojomojo]

On 12/20/2023 at 12:51 PM, greenminer said:

Geez, was thinking with this and the FedEx forum, is there a program in the country that gets more benefit/assistance from its surrounding city than the Memphis Tigers?

The Louisville Cardinals

[MeanGreen13]

35 minutes ago, rojomojo said:

The Louisville Cardinals

I went to uofl for grad school... massive arena downtown off the river... subsidized by the city. 

 

However, the former AD was happy to put corporate sponsors on just about every building and was great at fundraising. 

[Arkstfan]

41 minutes ago, MeanGreen13 said:

I went to uofl for grad school... massive arena downtown off the river... subsidized by the city. 

 

However, the former AD was happy to put corporate sponsors on just about every building and was great at fundraising. 

They swung and missed trying to land the Grizzlies from Vancouver.

Birmingham bought thousands of tickets from UAB for years and years.

UNLV pays something like a million a year to rent Raiders stadium but the stadium pays UNLV like two million to keep Sam Boyd Stadium closed (why merged USFL/XFL won't have a team in Las Vegas, there is no acceptable venue.

USC has a 99 year lease on LA Coliseum and the land the LAFC soccer stadium is on. LAFC owns the stadium but leases the land and parking lots from USC so USC's $1.3 million a year lease isn't a bad deal at all.

[Aquila_Viridis]

The ears (eyes) are burning in Memphis with that 'Memphis State' reference! They get madder about that than we do about a 'North Texas State' reference, and that's saying something.

[VideoEagle]

7 hours ago, Aquila_Viridis said:

The ears (eyes) are burning in Memphis with that 'Memphis State' reference! They get madder about that than we do about a 'North Texas State' reference, and that's saying something.

That’s why those of us with friends in Memphis always say Memphis State. Of course, when my friends were going there it was Memphis State just as I attended NTSU. 

[Arkstfan]

On 12/23/2023 at 11:24 PM, Aquila_Viridis said:

The ears (eyes) are burning in Memphis with that 'Memphis State' reference! They get madder about that than we do about a 'North Texas State' reference, and that's saying something.

I say Memphis State because I grew up with it being Memphis State. Never understood the passion to drop state off a name, in my experience I think it adds flair. I understand wanting to change SW Texas State to Texas State. One time in a shop in Little Rock was looking at all the sports stuff, clerk asked if he could help. Said I'm looking for something more than just Arkansas. Oh like what? Arkansas State.

Three schools were on our hate list. Memphis State, Loser Tech, and SW Louisiana.

Utterly indifferent to La Tech now but I might just take a 2-10 season if the wins were over Louisiana and Memphis.

I'd call em West Tennessee Teachers but too long to be fun.

[rojomojo]

On 12/23/2023 at 9:55 PM, MeanGreen13 said:

I went to uofl for grad school... massive arena downtown off the river... subsidized by the city. 

 

However, the former AD was happy to put corporate sponsors on just about every building and was great at fundraising. 

Funny enough, I am actually looking at UofL for my grad school as well! I feel like they have such a special advantage with being the only game in town within a city that lacks pro sports.

I have always heard UofL is opposed to an NBA franchise coming to the city

[Arkstfan]

20 hours ago, rojomojo said:

Funny enough, I am actually looking at UofL for my grad school as well! I feel like they have such a special advantage with being the only game in town within a city that lacks pro sports.

I have always heard UofL is opposed to an NBA franchise coming to the city

They may be opposed but the city put together a fat package to get the Grizzlies. When they started shopping St Louis, Las Vegas, Anaheim, San Diego, New Orleans, Kansas City, Louisville, and Memphis were all in though Anaheim was supposedly the leader until the other show dropped. Anaheim wanted the owner to buy the then Mighty Ducks who were struggling to find a buyer. 

In the end came down to Memphis and Louisville and Memphis won out because FedEx promised more than Yum! Brands was willing to commit. 

[tigerjeb]

the entire west side of SBLS is being completely demolished and rebuilt and if funds allow the east side concourse will be renovated. the press box is moving over to the sky boxes on the east side and all the new west side will be devoted to revenue generated seating. https://www.msn.com/en-us/sports/other/whats-next-for-liberty-stadium-renovation-project-after-city-council-approval/ar-AA1lRjTY

[NT80]

3 hours ago, tigerjeb said:

the entire west side of SBLS is being completely demolished and rebuilt and if funds allow the east side concourse will be renovated. the press box is moving over to the sky boxes on the east side and all the new west side will be devoted to revenue generated seating. https://www.msn.com/en-us/sports/other/whats-next-for-liberty-stadium-renovation-project-after-city-council-approval/ar-AA1lRjTY

The press box to the east side will not be pleasant staring into the sun in the afternoon.   

[UNTLifer]

Memphis' biggest problem is Memphis.  That town has potential to be a really great place, but it's more like New Orleans little sister.

[SilverEagle]

On 12/25/2023 at 9:23 PM, Arkstfan said:

I say Memphis State because I grew up with it being Memphis State. Never understood the passion to drop state off a name, in my experience I think it adds flair. I understand wanting to change SW Texas State to Texas State. One time in a shop in Little Rock was looking at all the sports stuff, clerk asked if he could help. Said I'm looking for something more than just Arkansas. Oh like what? Arkansas State.

Three schools were on our hate list. Memphis State, Loser Tech, and SW Louisiana.

Utterly indifferent to La Tech now but I might just take a 2-10 season if the wins were over Louisiana and Memphis.

I'd call em West Tennessee Teachers but too long to be fun.

It seems that just about every state school that was founded around 1900 started out as a Teachers school. Especially in the rural areas of the U.S.