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For Gophers, Ski-U-Mah turning into IOU with $290 million debt load

When the University of Minnesota fell short of its goal to privately fund a large athletics department upgrade, school President Eric Kaler recommended last week that the U borrow the shortfall and break ground almost immediately. Twenty-four hours later, the Board of Regents had approved the recommendation.

The decision was a victory for the athletics department and supporters who believe the Athletes Village project is necessary if the Gophers are to keep pace in the increasingly competitive field of big-time college athletics. Some, however, question the wisdom of borrowing an estimated $89 million when the athletics department already has outstanding debt of $201.