Loyola University Maryland opened the Ridley Athletic Complex on March 13, 2010. Fifteen years in the making, the stadium has a six thousand seat grandstand with lights, synthetic turf field, video scoreboard, practice field, weight room, locker room with sixty-five inch flat screens for the home team and visitors, offices for the coaching staff, press, presidential and VIP boxes and concession areas. One can’t help but be in awe at the sight of this “modern cathedral” design “miniature replica of Camden Yards”. But, considering Loyola University Maryland as a business did or will this sixty-two million dollar investment be profitable to the university in the long run?
As a university, Loyola aims to retain its current students while attracting perspective students. In my opinion, if this is the university’s focus in building Ridley, then, of course, the stadium will serve its purpose. I mean, what’s a better way to attract students then to give them an exquisitely designed playground that creates an atmosphere for appropriate campus spirit. School spirit is something Loyola students have an abundance of. The entire week prior to the stadium’s opening was spirit week, and green and grey were everywhere on campus. On game day, despite the rainy weather, Loyola students showed up in record numbers to support the men’s lacrosse team as they played Duke.
Despite the attraction and fun Ridley creates for the students, when former president Rev. Harold Ridley proposed the idea almost fifteen years ago, he had a specific vision for the stadium. He was determined to make athletics an important part of the university, and this stadium does just that. Loyola’s coaches and athletes have expressed that there probably isn’t anything like Ridley in the country and they all agree that there isn’t a nice place to play Division I lacrosse. Logistically, Ridley serves its purpose because Loyola athletes and students are rapidly outgrowing campus and Diane Geppi- Aikens field. There was a need for more adequate facilities for the athletic teams, so Ridley is a good win for this sports minded, athletic campus. Rev. Ridley also had in mind the academic side of campus life. E knew that this new stadium would free up the almost four acres of Diane Geppi- Aikens field in the middle of campus for future academic buildings. (Or, in my opinion, perhaps housing or parking, since students are current running out of both.)
Ridley Complex does create another major advantage for Loyola. Ridley puts Loyola on an equal playing field” with other big time athletic schools like Syracuse, whose Carrier Dome is now being compared to Ridley Athletic Complex. The Greyhounds are unabashedly giddy and immensely excited about this new stadium, and those who saw it on March 13, exclaimed that it exceeded their wildest expectations.
Coming to the monetary aspect of this project, Ridley is by far the largest capital project in the history of Loyola. At one point during production, current president, Father Linane question if the school could afford to spend that much money on an athletic complex.
For my group’s project, we are considering Loyola as a business that aims to retain its customers and acquire new customers; in this case, the customers would be the students. The new stadium plays a key role in our discussion because it can be consider as a business tactic for customer attraction and retention. Student athletes are more inclined to remain with Loyola, while perspective students, athletes or fans, are given more incentive to choose Loyola, if not for the attraction to the physical beauty of the stadium, then for the attraction to the prestige and honor the stadium brings to the university. For 62 million dollars, is it worth it? In my opinion, what Loyola would gain from this stadium will be worth much more than its hefty price tag.
As a university, Loyola aims to retain its current students while attracting perspective students. In my opinion, if this is the university’s focus in building Ridley, then, of course, the stadium will serve its purpose. I mean, what’s a better way to attract students then to give them an exquisitely designed playground that creates an atmosphere for appropriate campus spirit. School spirit is something Loyola students have an abundance of. The entire week prior to the stadium’s opening was spirit week, and green and grey were everywhere on campus. On game day, despite the rainy weather, Loyola students showed up in record numbers to support the men’s lacrosse team as they played Duke.
Despite the attraction and fun Ridley creates for the students, when former president Rev. Harold Ridley proposed the idea almost fifteen years ago, he had a specific vision for the stadium. He was determined to make athletics an important part of the university, and this stadium does just that. Loyola’s coaches and athletes have expressed that there probably isn’t anything like Ridley in the country and they all agree that there isn’t a nice place to play Division I lacrosse. Logistically, Ridley serves its purpose because Loyola athletes and students are rapidly outgrowing campus and Diane Geppi- Aikens field. There was a need for more adequate facilities for the athletic teams, so Ridley is a good win for this sports minded, athletic campus. Rev. Ridley also had in mind the academic side of campus life. E knew that this new stadium would free up the almost four acres of Diane Geppi- Aikens field in the middle of campus for future academic buildings. (Or, in my opinion, perhaps housing or parking, since students are current running out of both.)
Ridley Complex does create another major advantage for Loyola. Ridley puts Loyola on an equal playing field” with other big time athletic schools like Syracuse, whose Carrier Dome is now being compared to Ridley Athletic Complex. The Greyhounds are unabashedly giddy and immensely excited about this new stadium, and those who saw it on March 13, exclaimed that it exceeded their wildest expectations.
Coming to the monetary aspect of this project, Ridley is by far the largest capital project in the history of Loyola. At one point during production, current president, Father Linane question if the school could afford to spend that much money on an athletic complex.
For my group’s project, we are considering Loyola as a business that aims to retain its customers and acquire new customers; in this case, the customers would be the students. The new stadium plays a key role in our discussion because it can be consider as a business tactic for customer attraction and retention. Student athletes are more inclined to remain with Loyola, while perspective students, athletes or fans, are given more incentive to choose Loyola, if not for the attraction to the physical beauty of the stadium, then for the attraction to the prestige and honor the stadium brings to the university. For 62 million dollars, is it worth it? In my opinion, what Loyola would gain from this stadium will be worth much more than its hefty price tag.
Primary Source: Loyola to Open New Lacrosse, Soccer Facility Today
My one concern with the stadium is that, although it is a beautiful sports complex, it is a ride away from Loyola. I was a bit nervous whether or not students would be willing to wait for buses in order to go to a lacrosse game. Unlike the DGA field, students are not able to just walk over from their classes and immediately enter onto the field. Instead, it is necessary for the school to rent and organize buses in order to transport the student fans over to Ridley. However, I am hopeful that the location of the new field will not be an issue by the outstanding number of students who were willing to go watch the first lacrosse game, despite all the rain.
ReplyDeleteI was originally concerned with the distance as well, but clearly that has not been a problem, since both home men's games that have been played in the stadium created a sizable turnout. I love the fact that students can pay for food from the concession stand with Dining Advantage or Evergreen, and the layout of the stands creates a spirited atmosphere, with students being able to join together for cheering or chants without any noise being lost. I agree that this investment will turn a considerable profit in the long run.
ReplyDeleteSeveral concerns here. Going with your Loyola business model and the RAC as an investment project, how long will it take Loyola to recoup the costs on this project? Loyola is a small school (a small business) compared to other schools like Syracuse. I'd be curious to know if Loyola did a Net Present Value evaluation of the project, or if they use a "payback period" criteria to evaluate projects they undertake (just as real businesses do) from a finance perspective. Did the NPV on this project provide a return for Loyola? Is Loyola going to recoup $62 million dollars of costs anytime soon? With the extended period required to recoup a startup cost of $62 million dollars, I find it hard to believe this was the best move for Loyola as an investment when there are probably dozens of other projects the school needs.
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