If A Businessman Wants to Gift a University with no Stadium
Mar
5
Written by:
3/5/2008 5:14 PM
If an alumni businessman wants to gift
a university with no stadium like Minnesota,
you would take the money right? Well
four years ago the Gophers turned down a $35 million donation and kept playing
in the Metrodome where they had no home field advantage at all.
If A Businessman Wants to Gift a University with no Stadium
If an alumni businessman wants to gift
a university with no stadium like Minnesota,
you would take the money right? Well
four years ago the Gophers turned down a $35 million donation and kept playing
in the Metrodome where they had no home field advantage at all.
T. Denny Sanford has donated over $431
million to medical causes this past year and wants to try to donate again, this
time for the completion of the TCF Bank Stadium under construction on Minnesota’s campus.
A number of institutions and organizations
have stepped in to help fund the $288.5 million project. The State of Minnesota is paying 48%
of the costs. The Shakopee Mdewakanton Sioux Community is donating $10 million.
TCF Financial Corporation is buying $35 million in naming rights. And a number
of ‘smaller’ donors include Best Buy ($3 million), Dairy Queen ($2.5 million),
Target Corporation ($2 million), Federated Insurance, General Mills and Norwest
Equity Partners.
All that is left is one final $11
million that the university is hoping Sanford
will donate without all the strings that were attached to the $35 million he
donated 4 years ago. The university has worked with Sanford recently on a state-of the art golf
practice range, so there is a good chance the final funding for TCF Bank
Stadium (It could have been called the Half Shoe as it will have a horseshoe
design.) will be in place soon. 2009 can’t come soon enough when the team will play
in their new 50,000 seat stadium.