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University of Arkansas

University of Arkansas . Staff Senate Thursday, September 9, 2010. Goals for Today. Share the Razorback Foundation Seat Value Plan, specifically regarding Faculty/Staff tickets Plan to address Misconceptions about University of Arkansas Athletics Need for additional funds RSVP Program.

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University of Arkansas

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  1. University of Arkansas Staff Senate Thursday, September 9, 2010

  2. Goals for Today • Share the Razorback Foundation Seat Value Plan, specifically regarding Faculty/Staff tickets • Plan to address • Misconceptions about University of Arkansas Athletics • Need for additional funds • RSVP Program

  3. Misconceptions • Best Facilities in the Country

  4. Hog Heaven Article in 2006 • Consensus ranking of 5th in Football Facilities in the SEC

  5. Since 2006 Have all made significant renovations and expansions to their football facilities

  6. Hog Heaven Article in 2006 • Consensus ranking of 1st in Basketball Facilities in the SEC

  7. Since 2006 • Alabama: $4.5 million renovation • Auburn: $92.5 million for new Arena and Practice Facility • Florida : $10 Million renovation • Georgia : $8.5 million renovation • Kentucky: $30 Million Practice Facility • LSU: $13.9 million Practice Facility • Ole Miss: $12 Million Practice Facility • Tennessee : $16 Million Practice Facility

  8. Misconceptions • Unlimited amount of financial resources and reserves • Fact: We do NOT have $20-$50 million in reserves in the Razorback Foundation

  9. Fundraising Numbers (Annual Fund)FYO8-09

  10. Fundraising Numbers (Donors)FYO8-09

  11. Athletic BudgetFY 10

  12. The need to be more than just the Annual Fund • In January 2008, Razorback Foundation projections showed that without a significant revenue increase, they would not be able to meet their financial obligations in 2012.

  13. A Broader Spectrum of Giving • Seat Program • Increase Seat Values for DWRRS and WMS • Expanding Razorback Foundation Membership • Capital Campaign • Planned and Deferred Gifts and Endowment

  14. Historical Date • Over the last 5 years over 30 schools have re-evaluated their Football seating plans • Seat Premiums for DWRRS have NOT increased since 1982 (28 Years) AND…..

  15. SEC Seat Programs • Every school in the SEC has done their own form of a Seating Plan EXCEPT

  16. What has been done • Raised financial concerns with Razorback Foundation Leadership • Suggested update of Seat Values in Football • For DWRRS and WMS • Razorback Foundation asked for our assistance • No Experience • Razorback Foundation asked Chris Wyrick to lead • Has Experience

  17. Committee Members Advisors Committee • Scott Bull* • George Cole* • Jeanne Groff • Gene Hudson* • Gary Smith • Donny Story • Norm DeBriyn • Harold Horton • Jeff Long • Ken Mourton • Reece Parham • Sean Rochelle • Mark Scobey • Chris Wyrick *Razorback Foundation Board Members

  18. Steps Taken • Studied our current situation • Studied different seating models • Studied other schools stadiums and seating configurations and price points • Reviewed possible changes • Developed “Arkansas” plan

  19. We Actively Studied 55 Models and Prices * 325 hours of calculations and review

  20. Competition in football Seat PremiumsSeat Premium per seat, 50 Yard Line(our section 104 & 114) Alabama- $1,300 Clemson- $700 Texas A&M-$3,500 Penn State- $2000 LSU- $950 Kentucky- $450 Auburn- $500 Florida- $1,000 Georgia- $400 Ole Miss- $625 Mississippi State- $350 Tennessee- $1,250 Arkansas- $150 Oklahoma State- $800

  21. Cost of Entry into Sections • Rewarding current seat holder loyalty • Current seat holders may remain in current seats as long as they meet the new minimum Seat Premiums • Cost of entry • New section requirements

  22. Faculty/Staff Fact Sheet • 801Account • 1572 Tickets • 136accounts who are members of the Foundation(10%) • 52accounts that have other seats and require that they are members of the Foundation • 665accounts that just use the discount

  23. Faculty/Staff Policy Current • No Seat Premium • ½ Ticket Price New Policy • Current Ticket Holder • No Seat Premium • ½ Ticket Price • New Ticket Holders • No Seat Premium • Full Ticket Price

  24. Faculty/Staff Ticket Comparisons

  25. Total Faculty/Staff Seat Value Amounts • Little Rock F/S Seat Values used • $23,080 • Fayetteville F/S Seat Values used • $203,200 • Overall F/S Seat Values used • $226,280

  26. Questions?

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