Stadium expansion was approved, press conference tomorrow

[sweetgrass]

Boom!

[ironman1315]

Noice.

[Tony (admin)]

Guess my season tix prices are going up. Oh wait. They go up anyway.

[PlainsUte]

$80M/50k fans = $1600 each

Amortized over ten years @ 7% $120M/50k/10 = $240/year

[Anonymous]

There was a story in the Chrony a week, or so, ago that said that Utah has a season ticket waitlist of 22,000. I’d hope the expansion goes to 60,000. 

[PlainsUte]

If they put in luxury boxes they might get most of the capital costs back by selling those and the additional seat revenue.  Just trying to ballpark it, no pun intended.

[ironman1315]

don’t lie. That was totally intended.

[UtMtBiker]

That’s not exactly accurate.  You could buy them tomorrow with a one time $1200 – 25,000 donation to the Crimson club.  They have plenty available for the right price.  Just call the ticket office. The were at least 1k seats to choose from when I called last spring.  

The sell out record we proudly tout is largely due to the CC fund purchasing available seats and basically holding them until they can gouge someone for them.  

[St George Ute]

Wouldn’t the proceeds from the $80m bond be used to fund the construction? I imagine ticket prices will increase regardless, simply because demand for tickets is higher than the available supply, even after expansion (someone mentioned a waiting list of 22,000 tickets). But if construction is funded from the bond issuance, the cost shouldn’t be passed on to ticket holders. Just my thoughts.

[PlainsUte]

Bond is a loan that has to be paid back, with interest.  If SLC is going to issue the bonds, then the taxpayers are paying for it, but I thought the University was issuing bonds for the Athletic Department.  Athletic Department would be on the hook to pay off the bonds over time (usually 5-10 years for a capital project) — generally they would want to do it with revenue from football. Maybe the Olympic Committee is going to pledge their support to cut the cost to the University and the football program?, we’ll find out tomorrow.

[St George Ute]

Ah, that makes sense. I do hope the Olympic committee helps cut the cost.

Running some numbers (and purely based on my own speculation of number of proposed premium seats, ticket prices for new seats, etc.), I don’t see how they do it without increasing season ticket prices by $100 or more. That’s if they set the terms on the bond at 10 years. A 20 year bond would still require an increase of around $50 for season tickets across the board.

Granted, I’m probably underestimating number of premium seats and what they plan on charging for the new sections. I just ran with it. Guess we’ll get more information tomorrow. 🙂

[UtMtBiker]

They could sell beer outside the stadium like every other school.  Problem solved.  

[PlainsUte]

Also inside the luxury boxes.  At $10 per beer that revenue adds up quickly.

[EagleMountainUte]

They already do. Ask any zoob on the 25th.