Heinz and I spoke with Kirby Hocutt Friday on The Morning Drive. If you'd like to listen to the interview, you can check it out now on DoubleT1043.com.
Below is a transcript. Big ups to Drew for transcribing this yesterday.
Q: If you haven't broken ground on the new indoor facility this time next year, would you be disappointed with that time table?
Hocutt: I'll be disappointed if we don't have the funds in place and the process is moving forwards. The architectural design, the final schematics and all of that will take some time, but if we aren't in a position this time next year where that project is on a specific timeline where we know an exact date when the ground is going to be broken and completed then I think disappointed, yes/
Q: You're doing something a little bit different with the indoor facility than what they've maybe done with other expansion projects at Texas Tech in that you're trying to get all the money in advance so that you've got money in the bank, you don't have to finance this, you don't have to take on anymore debt service, is that becoming more common in college athletics or is that something unique to Texas Tech?
Hocutt: Well that's something that's been in discussion lately about the financial state of Texas Tech athletics and the debt load that we currently have and I want to be very clear that the decision that have been made in the past have been the absolute right decisions for Texas Tech athletics. We're so fortunate that those that came before us had the vision to move forward with the building that they did which has given us the foundation that we have today. I don't think it is uncommon that an project that you want to have all the funds and revenue streams identified before you move forward with the project and that's going to be the case with our indoor football and indoor track facilities. There is a fundraising project goal of $45 million and we want those dollars that to be identified and in place before we move forward. There is a chance that we will possibly have to accept more debt with that project because those pledges, many of them are over a three to seven year period. It's not going to be all cash in hand, but from a financial state, we're so fortunate that we have a great fan base, we've sold out Jones AT&T stadium last year, our Red Raider Club membership was over 11,000. We are a member of the Big 12 conference, revenue has never been higher, we are financial stable, we are competitively challenged and that's not going to change, we got to continue to be wise and smart with our decisions and our future investments.
Q: You mentioned the fans, early returns so far on season ticket sales have been pretty positive, yes?
Hocutt: Yes, extremely positive. We aren't to the point where we were last year when we sold out Jones AT&T stadium, but already right now we are having our second most successful season ticket football renewal and sales in program history. We are going to really push hard these next few months and hopefully we get to the point where, it is so critical when you have TCU, when you have Oklahoma State, when you have Kansas State coming in to Jones AT&T stadium, we've got to make sure we provide these young men, this team, and this coaching staff with a home-field advantage we are so synonymous with.
Q: There's been a lot of discussion over the past few months, it kind of started earlier in June with Oklahoma President David Boren and his thoughts on going to 12, is that the nature of the beast of the summer or is it closer to say what Dr. G had to say the other day, the West Virginia president, that hey we are financially solvent, we're competitive, last year if TCU had won a game, we could've maybe had two teams in the playoff, he didn't say tap the brakes but that's certainly the impression you got.
Hocutt: I think it's a combination of both of those, we are at the time of the year where everybody is getting excited about fall camp starting, the football season in front of us, it is a slower time of the year in regards to college football sports go. President Boren's comments obviously generated a lot of thought and discussion, with that being said, I think the West Virginia president, and even President Nellis were absolutely right. We are in a great position here in this league, we've never made more money, we've never been more competitive from top to bottom and at the same time we'd be remiss to not think about the future, what do we have to continue to do to ensure that the Big 12 conference is the most competitive, proactive conferences in the country.
Q: Do you have any preference going east or west with the expansion if they decide to go that route so not only would the travel be easier on West Virginia but for your student athletes as well going to West Virginia?
Hocutt: That is a great lead in question, Chuck. Trying to get me to go there. There is a process, there is a process led by Bob Bowlsby who I think is one of the best leaders in college athletics as well as our presidents and I know that we will continue to look at the landscape and be as strategic and proactive as we possibly can be.
Q: Are you any closer to finding a major opponent for the 2018 team non-conference schedule? I know with y'all have things setup, there is kind of a gap there with 2018.
Hocutt: There is. I think our nonconference is setup every year through 2021 except for that one date in 2018. We want to find that formidable opponent from one of the four other high visibility teams. We are having some progress, I wouldn't say there is anything imminent, but there are a number of conversations going on and hopefully as we get in to the fall and in to the winter we can get some finalization to that.
Q: What are those conversations like, what is the back and forth like with those conversations? Is it like oh I've got and opening and you've got an opening, let's play here or is it more complicated than that?
Hocutt: Well it's no more complicated than that when you find two schools that are interested and maybe the dates don't exactly line up then there is conversation about maybe moving these other opponents to make this line up. At the same time, I'd say there is a lot of this neutral site possibilities that are out there that are extremely financially attractive and a couple of those have presented themselves to us. I always want to bring all the home games that we can to Jones AT&T stadium and to Lubbock because I understand how important that is, but at the same time the market for these neutral site games are such that we would be remiss to not explore all of those as well.
Q: It's been a very interesting offseason for this football season, it's been a very quiet offseason for this team and maybe that's by design and maybe that's a good thing because last year was way over the top. Is that better to have measured expectation than to be way over the top of is it like I want everyone to think we are going to win every one of them.
Hocutt: I have been very pleased with the leadership coach Kingsbury continues to bring, the work ethic of these young men, their attitude and determination going in to this fall. I'm excited for this season.
Below is a transcript. Big ups to Drew for transcribing this yesterday.
Q: If you haven't broken ground on the new indoor facility this time next year, would you be disappointed with that time table?
Hocutt: I'll be disappointed if we don't have the funds in place and the process is moving forwards. The architectural design, the final schematics and all of that will take some time, but if we aren't in a position this time next year where that project is on a specific timeline where we know an exact date when the ground is going to be broken and completed then I think disappointed, yes/
Q: You're doing something a little bit different with the indoor facility than what they've maybe done with other expansion projects at Texas Tech in that you're trying to get all the money in advance so that you've got money in the bank, you don't have to finance this, you don't have to take on anymore debt service, is that becoming more common in college athletics or is that something unique to Texas Tech?
Hocutt: Well that's something that's been in discussion lately about the financial state of Texas Tech athletics and the debt load that we currently have and I want to be very clear that the decision that have been made in the past have been the absolute right decisions for Texas Tech athletics. We're so fortunate that those that came before us had the vision to move forward with the building that they did which has given us the foundation that we have today. I don't think it is uncommon that an project that you want to have all the funds and revenue streams identified before you move forward with the project and that's going to be the case with our indoor football and indoor track facilities. There is a fundraising project goal of $45 million and we want those dollars that to be identified and in place before we move forward. There is a chance that we will possibly have to accept more debt with that project because those pledges, many of them are over a three to seven year period. It's not going to be all cash in hand, but from a financial state, we're so fortunate that we have a great fan base, we've sold out Jones AT&T stadium last year, our Red Raider Club membership was over 11,000. We are a member of the Big 12 conference, revenue has never been higher, we are financial stable, we are competitively challenged and that's not going to change, we got to continue to be wise and smart with our decisions and our future investments.
Q: You mentioned the fans, early returns so far on season ticket sales have been pretty positive, yes?
Hocutt: Yes, extremely positive. We aren't to the point where we were last year when we sold out Jones AT&T stadium, but already right now we are having our second most successful season ticket football renewal and sales in program history. We are going to really push hard these next few months and hopefully we get to the point where, it is so critical when you have TCU, when you have Oklahoma State, when you have Kansas State coming in to Jones AT&T stadium, we've got to make sure we provide these young men, this team, and this coaching staff with a home-field advantage we are so synonymous with.
Q: There's been a lot of discussion over the past few months, it kind of started earlier in June with Oklahoma President David Boren and his thoughts on going to 12, is that the nature of the beast of the summer or is it closer to say what Dr. G had to say the other day, the West Virginia president, that hey we are financially solvent, we're competitive, last year if TCU had won a game, we could've maybe had two teams in the playoff, he didn't say tap the brakes but that's certainly the impression you got.
Hocutt: I think it's a combination of both of those, we are at the time of the year where everybody is getting excited about fall camp starting, the football season in front of us, it is a slower time of the year in regards to college football sports go. President Boren's comments obviously generated a lot of thought and discussion, with that being said, I think the West Virginia president, and even President Nellis were absolutely right. We are in a great position here in this league, we've never made more money, we've never been more competitive from top to bottom and at the same time we'd be remiss to not think about the future, what do we have to continue to do to ensure that the Big 12 conference is the most competitive, proactive conferences in the country.
Q: Do you have any preference going east or west with the expansion if they decide to go that route so not only would the travel be easier on West Virginia but for your student athletes as well going to West Virginia?
Hocutt: That is a great lead in question, Chuck. Trying to get me to go there. There is a process, there is a process led by Bob Bowlsby who I think is one of the best leaders in college athletics as well as our presidents and I know that we will continue to look at the landscape and be as strategic and proactive as we possibly can be.
Q: Are you any closer to finding a major opponent for the 2018 team non-conference schedule? I know with y'all have things setup, there is kind of a gap there with 2018.
Hocutt: There is. I think our nonconference is setup every year through 2021 except for that one date in 2018. We want to find that formidable opponent from one of the four other high visibility teams. We are having some progress, I wouldn't say there is anything imminent, but there are a number of conversations going on and hopefully as we get in to the fall and in to the winter we can get some finalization to that.
Q: What are those conversations like, what is the back and forth like with those conversations? Is it like oh I've got and opening and you've got an opening, let's play here or is it more complicated than that?
Hocutt: Well it's no more complicated than that when you find two schools that are interested and maybe the dates don't exactly line up then there is conversation about maybe moving these other opponents to make this line up. At the same time, I'd say there is a lot of this neutral site possibilities that are out there that are extremely financially attractive and a couple of those have presented themselves to us. I always want to bring all the home games that we can to Jones AT&T stadium and to Lubbock because I understand how important that is, but at the same time the market for these neutral site games are such that we would be remiss to not explore all of those as well.
Q: It's been a very interesting offseason for this football season, it's been a very quiet offseason for this team and maybe that's by design and maybe that's a good thing because last year was way over the top. Is that better to have measured expectation than to be way over the top of is it like I want everyone to think we are going to win every one of them.
Hocutt: I have been very pleased with the leadership coach Kingsbury continues to bring, the work ethic of these young men, their attitude and determination going in to this fall. I'm excited for this season.
