Courtesy of USF
By Vanessa Wenzl
On June 13, The University of South Florida’s Board of Trustees (BoT) approved the long-awaited financing for an estimated $340 million on-campus football stadium.
The board approval has authorized USF Financing Corp to loan $200 million to be repaid from several sources including USF Athletics revenues and stadium operating revenues. Athletics Director and Vice President Michael Kelly selected Barton Marlow to design the stadium.
The construction will start summer 2024. The stadium will hold 35,000 fans on gameday.
“The University of South Florida is investing in our athletics programs in ways we never have before,” USF President Rhea Law said at the meeting.
The new stadium’s forever home will reside on what is now Sycamore Fields on the east side of the Tampa Campus as a part of the growing athletics district.
“The approval by the Board of Trustees should instill great confidence from the USF community that we are going to build a home that we can call our own, will attract the best and brightest and will continue the tremendous elevation of our athletics programs and entire university,” Kelly said.
The Sycamore Fields and recreational sites also received approval from the BoT to relocate.
Sycamore Fields is currently home to the athletic fields, including a four-field grass complex and two softball grass fields, occupied by recreational sports clubs and intramural sports.
The plan is to relocate the fields to the southwest of the Tampa campus.
It was noted that the USF band and ROTC also use these fields and the space is home to a maintenance station and outdoor storage area.
The relocation of the facilities will take anywhere from seven to 10 years. The only time with no fields at all will be during the summer of 2024.
The construction for Sycamore Fields relocation will begin this summer.
Along with moving the current fields, talks of moving recreation and wellness facilities were also mentioned. The new stadium is expected to reduce the recreational outdoor space.The current acreage of those spaces is 23 acres, with plans to reduce them down to 13 acres.
The relocation project will cost no more than $18 million and the final costs are still being developed for official review and approval.
In the meeting, budget gaps were also a hot topic for the stadium.
According to the agenda from the 13th’s meeting, Trustee Jennifer Jasinski Schneider asked if the strategic gap — the analyzed gap between the university’s current standing and future goals — includes the new stadium.
USF’s Chief Financial Officer Richard Sobieray answered that it does not and that the future revenues of the new stadium would fill the currently unbalanced athletics budget.
“Thoughtful and achievable financing is a key driver for the short- and long-term impact and success of the stadium as a point of pride for our community,” Jay Stroman, senior vice president of Advancement and Alumni Affairs and CEO of the USF Foundation, said. “With the approval of the Board of Trustees, we are confident this plan will result in a stadium that will make Bulls Nation proud.”
The stadium is currently in the design phase which has included more than 40 listening meetings with alumni, staff, students and other stakeholders.
The meetings have covered topics of what they would like to see in the stadium and what the ideal experience would be for the fans.
Once the design is complete, the plan for the new home of the Bulls will be presented.
“The stadium will provide the university community with a place to come together and express their shared passion for USF, build lasting memories and stay connected to the university for life,” USF Trustees Chair Will Weatherford said.
The new stadium will be completed by 2026.
