USF President Rhea Law says on-campus stadium will create ‘A shared campus experience’ (PHOTOS)

The University of South Florida Board of Trustees has approved a plan for financing an estimated 35,000-seat facility that is scheduled to open by fall 2026.

The estimated cost for a new stadium is $340 million. 

The approval by the board authorizes the USF 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 USF Athletics, according to a statement.

“The stadium will provide a shared campus experience that will contribute to the culture, spirit and connectedness of the university, not only during the fall football games, but throughout the year,” says Rhea Law, president of the University of South Florida.

In the plan provided to the board, USF also identified the funding sources that will be used to support the other $140 million on the project including $50 million in cash advances on future capital gifts, $31 million from the Capital Improvement Trust Fund, $34 million in auxiliary funds and proceeds from a 2017 FCC auction and a contingent cash contribution from the sale of educational broadband service licenses, which will be about $25 million-$40 million, the statement said.

In partnership with the design/build team of Barton Malow and Populous, USF is currently going through the design phase of the new stadium.

The stadium will be built on the east side of the Tampa campus on a site known as Sycamore Fields, providing synergy with the ongoing expansion of the USF Athletics district. 

During today’s 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 USF students continue to have access to facilities for club sports, intramurals and other recreational activities.

“It will provide our students, staff and faculty a place to gather and share their passion for USF, while giving alumni, and community members a compelling reason to return and experience the beauty and energy of our ever-evolving campus and students,” Law says.

You May Also Like

Habitat for Humanity Hillsborough and Tampa Bay Buccaneers announce partnership

Habitat for Humanity of Hillsborough County and the Tampa Bay Buccaneers will launch a community partnership to address affordable housing, in Hillsborough County. As part of the initiative, Buccaneer players

Tampa General Hospital partners with Kendra Scott Jewelry to raise funds for TGH Children’s Hospital

Tampa General Hospital is partnering with jewelry designer Kendra Scott to raise funds for the TGH Children’s Hospital. From November 28 through December 7, 20% of any in-store purchase will

Call to action: Metropolitan Ministries sees a 30% decline in donations as holiday assistance program launches

Metropolitan Ministries is collaborating with 30 community partners to expand its holiday outreach and will operate 10 “pop-up” tent locations in neighborhoods of highest need, throughout the region. For the

Operation New Uniform saw expansion opportunity in Tampa Bay 

Transitioning from the military to civilian life is more than just a career change. It is a life transformation, often forcing a complete reworking of identity and a reconfiguring of

Other Posts

JLL signs new office tenant at Buschwood Park, in Tampa

JLL completed an office lease totaling 18,540 square feet with a new tenant, Agency for Community Treatment Services, at the office property Buschwood Park II, located at 3450 Buschwood Park

The Cake Girl to begin franchising in the New Year

For Kristina Lavallee, life keeps getting sweeter. Founder and namesake of local dessert company, The Cake Girl, Lavallee’s rise to success is already a sweet tale. Well-known, around the Tampa

St. Petersburg’s Studio620 announces leadership transition

Studio@620 has named Erica Sutherlin as the incoming artistic executive director, as a part of the planned transition for when founder Bob Devin Jones steps down from the role, in

On the Scene: TBBW’s Philanthropists of the Year Awards 2023 (PHOTOS) (VIDEO)

Individuals, companies and foundations were honored for their philanthropic work at Tampa Bay Business and Wealth’s Philanthropists of the Year Awards, at Armature Works, in Tampa. Presenting sponsors for the event were