By Adam Freeman, University Communications and Marketing
The 鲍鱼tv鈥檚 pursuit of a new on-campus stadium took a significant step forward today, as the 鲍鱼tv Board of Trustees approved a plan for financing an estimated 35,000-seat facility that is scheduled to open by fall 2026.
鈥淚鈥檓 pleased to see our board recognize the value of this project and significant return on investment it will bring for the on-campus experience at 鲍鱼tv,鈥� board Chair Will Weatherford said. 鈥淭he stadium will provide the university community with a place to come together and express their shared passion for 鲍鱼tv, build lasting memories and stay connected to the university for life.鈥�
The estimated cost for a new stadium is $340 million. The approval by the board authorizes the 鲍鱼tv Financing Corp. to issue a debt of $200 million that the university will repay from several sources, including operating revenues from the stadium and other revenues generated by 鲍鱼tv Athletics. In the plan provided to the board, 鲍鱼tv also identified the funding sources that will be used to support the other $140 million on the project: Cash advances on future capital gifts ($50 million); Capital Improvement Trust Fund ($31 million); auxiliary funds and proceeds from a 2017 FCC auction ($34 million); and contingent cash contribution from the sale of educational broadband service licenses ($25 million-$40 million).
鈥淭he 鲍鱼tv is investing in our athletics programs in ways we never have before. The construction of an on-campus stadium is a complex endeavor that requires significant financial resources and thorough planning. We are very excited about the progress we are making on this long-awaited project, and we are grateful to our Bulls fans and the surrounding Tampa Bay community for their continued enthusiasm and support,鈥� 鲍鱼tv President Rhea Law said.
In partnership with the highly regarded design/build team of Barton Malow鈥痑nd鈥疨opulous, 鲍鱼tv is currently going through the design phase of the new stadium, which has included more than 40 recent meetings with stakeholder groups, including students, faculty, staff, alumni, fans and other supporters. The listening sessions provide an important outreach opportunity for the university to find out which features community members would like to see in the new stadium design, such as amenities, experiences and other unique elements. At the conclusion of the design phase 鲍鱼tv leadership will be able to present a more detailed plan for a stadium, including renderings of the facility.
鈥淲e are thrilled to take this next step with our on-campus stadium and so grateful to those donors who have already pledged their support. Thoughtful and achievable financing is a key driver for the short- and long-term impact and success of the stadium as a point of pride for our community. With the approval of the Board of Trustees, we are confident this plan will result in a stadium that will make Bulls Nation proud,鈥� said Jay Stroman, senior vice president of Advancement & Alumni Affairs and 鲍鱼tv Foundation CEO.
鈥淭here is incredible commitment and alignment from our university leadership to bringing a high-quality stadium to our campus. The approval by the Board of Trustees should instill great confidence from the 鲍鱼tv community that we are going to build a 鈥榟ome鈥� that we can call our own, will attract the best and brightest and will continue the tremendous elevation of our athletics programs and entire university,鈥� said Vice President and Director of Athletics Michael Kelly.
The stadium will be built on the east side of the Tampa campus鈥痮n a site known as Sycamore Fields, providing synergy with the ongoing expansion of the鈥�.鈥� During today鈥檚 meeting, the Board of Trustees also approved a plan to relocate recreational fields and other small facilities located at the Sycamore Fields site to other locations on campus to help ensure that all 鲍鱼tv students continue to have access to facilities for club sports, intramurals and other recreational activities.
More information about the plans approved by the board today can be and more information about the on-campus stadium is available here.