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DU will hold the first debate between President Barack Obama and the eventual Republican presidential nominee at Magness Arena in less than a year from now, on Oct. 3, 2012.

The total cost of holding the debate comes to $1,650,000. This figure would not be covered solely by DU, but rather, “fundraising [will occur] from a lot of parts of the city,” said Chancellor Robert Coombe in a press conference this afternoon.

Next year’s debate, the first of four for the 2012 election cycle, will be the only such event held west of the Mississippi River and the first presidential debate in the history of the state of Colorado.

Denver will again become an important milestone in the election process for both Democratic and Republican candidates, highlighting the fundamental importance of our state’s nine electoral votes, according to Coombe.

“We will, again, become the focal point of the great American electoral process,” Coombe said. “This is a tremendous moment for the university, city and state of Colorado.”

Coombe addressed how DU will work with the city, state and the presidential campaigns and work on civic engagement at all levels, with more than 3,000 reporters from around the world descending onto campus, he said.

Michael Hancock, mayor of Denver, expressed the importance of the debate coming to Denver, and added that the city was more than prepared for the immense challenges, in both logistical and monetary aspects.

“I think this is something very monumental…we proved to the world that Denver is a world-class city… We’ve [hosted] the Pope and the World Youth Day,” Hancock said.

Denver hosted Obama and nearly 50,000 people in August 2008 for the Democratic National Convention. In addition, DU has hosted the Dalai Lama, the UN Secretary General, former President Bill Clinton, numerous diplomats and important global leaders in recent years.

Hancock also lent his hand in assisting DU with the event.

“You have a partner in the city of Denver,” he said.

Tickets for the debate are not handled by the university or the venue hosting the candidates, but rather handled through the Commission on Presidential Debates.  The Commission normally reserves tickets to the campaigns, the press and some members of the community.  Coombe, however, stressed the importance of making sure that DU students receive ticketing priority.