As promised, the Clog is giving you the low-down on a preview of the kick-off for massive fund raising effort for Cal football.
Cal dreams of expanding the school’s $50 million sports endowment to a whopping $1 billion in the next 30 years. Criminy. Before you start creating your “1,000,000 strong for keeping UC fees down” Facebook groups, worry not–Cal plans to hit up the wealthiest among us as their first step to big, fat checks. And what faster way towards $1 billion than a little piece of property in the Cal stadium? We’re talking individual seats for up to $225,000 each. As usual, these monied football fans’ first-class section includes complimentary food, parking (a privelege for which most Berkeleyans would give up their first-born) and lounge access.
With the Endowment Seating Program, rather than purching annual tickets, buyers will have ownership of their seat for 30 years. If these aging (to put it mildly) folks don’t anticipate living that long, they actually have the option of “endowing” their seat to their favorite suck-up grandkid. From a more capitalist perspective, buyers will also be allowed to sell their seat, much like a piece of property or stock.
We suppose that if nothing else, these seats will be worth its market value for its protection against the California elements: 80-some degree summers, light rain and the Hayward faultline. Sorry, peons of the student section, continue to read up on Memorial Stadium evacuation procedure.
Image Source: Dawn Endico under Creative Commons
Cal kicks off $250M football fundraising drive [SF Business Times]