I have read only 18 university athletic programs are profitable. But I think state taxpayers contributed funds to PNC Arena. I think I remember that, but I could be wrong. Maybe someone else remembers.
https://twitter.com/MBakerTBTimes/status/1661052591965454348
The whole setup is pretty ambitious:
The Bulls intend to borrow the other $200 million over 20 years with an estimated taxable fixed interest rate of 5.5%. They plan to service that debt — about $17.8 million per year — with new revenues from the stadium like ticket sales, concessions, parking and sponsorships. Attendance and on-field results, then, will be critical in whether USF hits projections that chief financial officer Richard J. Sobieray called conservative.
They’ve gotta earn almost $18M a year just to service the debt.
Pretty damn impressive for an equally young program.
It’s nice but is shared between all of their programs. Miltimore-Wallis Athletic Training, Judy W. Rose football center, and the Well Fargo Fieldhouse are leagues ahead of this facility.
Just remember, this is what they’re going to build. And not even all of it right away:
I kinda wish they would decide to play FBS football. But that stadium isn’t gonna cut it.
clt says tracks around football fields are not aac level
Can USF afford the Bulls’ $340 million on-campus football stadium? (tampabay.com)
The school plans to borrow the remaining $200 million over 20 years at an expected interest rate of 5.5%. That amounts to an annual debt service of about $17.8 million. Only nine schools in the country made larger athletic payments on debt, leases or rentals last year
That article from the Tampa paper reads exactly like I would expect a Charlotte Observer to read about us.
I don’t have a subscription, so didn’t get to read entire article. Would think getting economists to agree on anything would be something, so not surprising the TBT got differing opinions on the stadium project.
Anyway, after just reading Charlotte-Douglas Airport broke ground on a $1B runway project that doesn’t have any guaranteed Federal dollars, the USF stadium looks like a bargain!
clt says we are going to discuss runways?
https://twitter.com/Brett_McMurphy/status/1668631481714081799
https://twitter.com/MBakerTBTimes/status/1668627296650137601
The initial plans were for 35,000 seats.
As a reminder, they also achieved AAU status recently too. Definitely trying to position themselves for the future.
https://twitter.com/BullinTheBay/status/1668628950703308801
Damn that’s pretty cool looking.
Would be nice to have at the Rich, but I’d also take it for BofA.
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