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Univ. Of Florida Close To Financing Deal For Renovation Of O'Connell Center

Florida AD Jeremy Foley yesterday said that the university is "close to finalizing the financial deal on the proposed O’Connell Center renovation project that would allow construction to begin" at the conclusion of the '15-16 basketball season, according to Robbie Andreu of the GAINESVILLE SUN. Foley said, "The process now is to finalize the pricing. [We're] close on that. ...  I would hope in the next three weeks maybe, a month or so, we can tell people this is what pricing is going to be, this is the timetable. I can tell you it’s going to happen. That I can tell you." Andreu notes the University Athletic Association has $50M "earmarked for the project, with UF putting up" an additional $10M. Officials "delayed the project for a year in the hopes of negotiating a lower price tag while still meeting the project's scope" (GAINESVILLE SUN, 8/27). 

FOLEY'S TWO BITS: In Orlando, Edgar Thompson notes neutral-site games like UF's high-profile '17 season-opener against Michigan in Arlington "might not be a one-time thing." Foley yesterday said that he would be "amenable to more neutral-site games, like the Michigan game." UF will receive $6M "to play Michigan in AT&T Stadium." UF generates $2.5M for a home game at Ben Hill Griffin Stadium, but normally would "pay a sizeable guarantee to a non-conference home opponent, bringing the total net closer" to $1.5M. Foley: "I still think seven games at home is important. It’s important to boosters who pay their season tickets for seven games. I think it’s important to the city of Gainesville" (ORLANDO SENTINEL, 8/27).

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