• Skip to primary navigation
  • Skip to main content

James M. Redwine

  • Books
  • Columns
  • Events
  • About

A Loyal Alumnus

November 4, 2016 by Jim Leave a Comment

As a graduate of Indiana University I felt I should do my part in helping IU raise money by selling naming rights to school properties. You may have heard IU recently renamed the Bloomington Law School and the basketball gymnasium for $35 million and $40 million respectively. These events transpired pretty much in dark rooms at midnight. I suggest if this publicly funded institution wishes to maximize its pay for play naming game it should establish a schedule of prices and let everyone know how and for how much they may honor themselves by having their names pasted on university assets. Let’s open the bidding.

First we must establish how much Indiana University costs Hoosier taxpayers, then set relative values for selling off its pieces. The state of Indiana established IU in 1820 and has funded it with tax revenues each year. For fiscal 2015-2016 Hoosiers provided $3.27 billion dollars for all the state’s IU campuses. That gives us a reference point for setting relative values for the naming of individual assets such as buildings and departments.

Of course, there are other considerations besides price. For example, we should not condone the naming of our state-owned property for persons of unsavory character. An Al Capone library might not resonate with intellectual pride nor would a Bernie Madoff Economics Department. Surely we are not just for sale to all comers.

However, if the mysterious committee that decides to sell the names of public edifices and other assets has some guidelines in place we might be able to help finance everything from sports to astronomy. But in fairness, a list of things and their prices should be publicized so we all have an opportunity to participate. I have a few suggestions:

Assets                                                              Naming Price

The Whole Enchilada (IU)                           $3 and ¼ billion

Football Stadium                                            $100 million

Baseball Field                                                  $  10 million

Soccer Field                                                     $    1 million

Natatorium                                                      $   500,000

Student Union                                                 $   100,000

Library                                                              $     50,000

English Department                                       $     40,000

Physics Department                                       $     30,000

Philosophy Department                                $     20,000

Sociology Department                                   $       5,000

Music School                                                   $        1,000

History Department                                      $           500

Dining Halls                                                    $           100

Restrooms                                                                ???

The folks who currently decide to sell these things are in a better position than I to set actual prices. These are just a few respectful suggestions as to the relative value of some of IU’s elements as might be seen from some of the public’s and the Committee’s perspectives. I hope we can arrive at a meeting of the minds over how best to encourage contributions.

It's only fair to share...Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Email this to someone
email
Print this page
Print

Share this:

  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to email this to a friend (Opens in new window)

Related

Filed Under: Basketball Gymnasium, Gavel Gamut, Indiana, Indiana University, Law School, Personal Fun Tagged With: Al Capone, basketball gymnasium, Bernie Madoff, Hoosier taxpayers, Indiana University, IU Bloomington Law School, James M. Redwine, Jim Redwine, naming rights to school properties, pay for play naming game, university assets

Reader Interactions

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

© 2020 James M. Redwine

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.