DU’s Ritchie Center is bursting at the seams. In this era of tightening finances, how could DU build a 3,000-5,000-seat arena for gymnastics, men’s and women’s basketball, and volleyball to take the pressure off the Ritchie Center?
The answer might be a ‘free’ sports arena while opening up the current Ritchie Center for hockey, team practices, health & training, graduations, university special events, and paid events.
Too good to be true? Of course, nothing is ‘free’ and any deal would involve a good business case, concessions, land & site requirements, open dates, and a host of other criteria to strike a deal all while limiting DU’s financial exposure and risk.
Oak View Group LLC, a venue ownership and management company, recently relocated its offices Greenwood Village. Oak View owns and operates over 400 venues globally. In many cases, their customers (i.e. universities, professional teams, and landowners) provide the land and reserve venue dates while Oak View Group constructs the facilities at their cost, manages the facilities, and generates the revenue from open dates. The model is not all that different from the Denver Tennis Center which is jointly operated by Denver Public Schools and DU. However, unlike that DTC partnership, DU’s capital cost would be negligible if such a deal could be struck.
The $300 million Moody Center arena for the University of Texas is being built for “free” for the Longhorns with no cost to taxpayers or donors. The facility will seat 17,000 and have locker rooms and support facilities for student-athletes. If the largest athletic department in the nation sees this as a common-sense option, DU can certainly make a quick trip down I-25 for a deep discussion with Oak View.
Other major universities that have partnered with Oak View Partners include Houston, Central Florida, Providence, Kentucky, St. Louis University, Old Dominion, Maryland, and countless others. One might safely assume Oak View Partners would like to own and manage an arena venue in their new hometown.
Summit League member UMKC recently released an RFQ (request for quote) for a ‘no cost’ sports arena on an open 5.3-acre parcel on their Kansas City campus. The RFQ is tailored to the exact model employed by Oak View Partners. Expect them to win the bid. CEO Tim Leiweke has ties to the Kansas City region and a deep understanding of professional and collegiate athletics. To prosper in these economic times, this is the exact model that higher education can employ without transferring the burden of capital projects to donors, students, or parents.
We have written in the past about the need for a new arena and offered up three potential locations on campus at DU. The problem has always been finding the money necessary to make such an endeavor possible. DU Athletics and University leadership can and should explore a meaningful partnership with Oak View Partners for a new, much-needed arena.
Cynics need look no further than ASU’s beautiful Mullett Arena. ‘Owned and built in partnership with Oak View Partners,’ the new arena, which houses the newest NCHC member, is already one of the jewels of college hockey.
The same venture capital model could be used with other companies for new dorms or an on-campus hotel. In the interim, here’s hoping DU has opened up a dialogue with Oak View Group regarding a new arena on the DU campus.
Top photo: A theoretical arena illustration on Asbury Ave. The DU master plan includes the closing of Asbury in the middle of campus. The facility is placed on what is now the Stapleton Tennis Center and extends over Asbury Avenue.
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