Univ. of Washington seeks to refinance stadium debt ahead of Big Ten move

The Univ. of Washington is “evaluating options” for refinancing the debt on the Husky Stadium renovation, a move that “potentially could free up valuable cash for operations as the Huskies transition into the Big Ten,” according to Jon Wilner of the San Jose MERCURY NEWS. Washington’s $280M renovation of Husky Stadium in the early 2010s “relied heavily” on debt provided by the university’s internal lending program over a 30-year period. A financial report submitted to the NCAA noted that the athletic department paid $12.3M “in debt service” in the 2022 fiscal year. But that figure “dropped by approximately” $3M in 2023 after Washington’s board of regents approved a temporary restructuring plan. The new approach “allows the Huskies to make interest-only payments through the 2025 fiscal year.” The Huskies begin play in the Big Ten later this year after agreeing to enter the conference “at a steep discount.” The schools will “receive half-shares of the Big Ten’s annual media rights deal with Fox, CBS and NBC.” Wilner noted every dollar UW saves on debt service “could help offset the revenue disparity” (San Jose MERCURY NEWS, 4/18).