Texas Keeping Budget Balanced Throughout $175M Stadium Project
The renovation of Royal-Memorial Stadium's south end zone is the "first major step" in a $175M project and Univ. of Texas AD Chris Del Conte is confident that the $125M that the athletic department is responsible for "is already accounted for," according to Brian Davis of the AUSTIN AMERICAN-STATESMAN. UT regents will provide the final $50M for the renovations, and school President Gregory Fenves said that the plan was always to "start and finish a major football construction project without adding long-term debt to the balance sheet." That strategy comes as UT is "still paying off the north end zone project finished more than a decade ago." The renovated south end zone will "feature 94 loge boxes ranging from $150,000 to $500,000." Del Conte said that 92 are "already spoken for." Finally, there are 800 additional club seats "left to be sold." The school "plans to start selling those this month, with a target of being sold out by Halloween." When renovations are complete in '21, Royal-Memorial Stadium will "probably still have a listed capacity of more than 100,000." Meanwhile, Oak View Group will "build and maintain" a $338M arena "adjacent to UT's track and soccer stadium." The school still has "not finalized a contract with Oak View even though the official announcement was made on Dec. 20." It is thought that "major construction will start next spring" (AUSTIN AMERICAN-STATESMAN, 9/6).