Nebraska announces $56 million stadium expansion

[Tornado man]

From the Omaha World-Herald:

The University of Nebraska is planning a $56 million Memorial Stadium expansion that will add about 5,000 seats and more luxury suites.
Under details released Friday, university officials say they plan to add between 2,000 and 2,200 seats in a new covered and heated section, and between 2,500 and 2,800 general seats. A new suite level on the east side of the stadium would add allow for 400-500 more people. The project would be paid for by $40.5 million in private donations and $15 million in revenue bonds.

[Incyte]

$1120 per each seat. Guessing it's about a 3-4 year payback.

[The_Architect]

The project would be paid for by $40.5 million in private donations and $15 million in revenue bonds.

Must be rough

[HandSanitizer]

$1120 per each seat. Guessing it's about a 3-4 year payback.

Or a few years of Big Ten Revenue sharing should pay that off quick..

[AirWalke]

What an efficient use of money.

[JY07]

$1120 per each seat. Guessing it's about a 3-4 year payback.

might want to double check your math on that one; if it was that easy everyone would do it

[MookInLincoln]

might want to double check your math on that one; if it was that easy everyone would do it

Everyone who can guarantee to sell the seats IS doing it.

[Ficklone02]

From the Omaha World-Herald:

The University of Nebraska is planning a $56 million Memorial Stadium expansion that will add about 5,000 seats and more luxury suites.
Under details released Friday, university officials say they plan to add between 2,000 and 2,200 seats in a new covered and heated section, and between 2,500 and 2,800 general seats. A new suite level on the east side of the stadium would add allow for 400-500 more people. The project would be paid for by $40.5 million in private donations and $15 million in revenue bonds.

I'm not usually one to tell people where to spend there money......but to me the idea of spending that much money on a stadium when it is already in good shape is sad when you consider the abundance of other places that $40M in donations could go to.

[simply1]

Only paying back $15 million, the rest is donations so..

[AlumNi]

NU is spending serious coin in facilities right now. On top of the $55 million expansion of Memorial Stadium, Nebraska is also building a new indoor baseball/softball practice facility for $4.75 million, and the $300 million basketball arena.

Plans are also in the works for a $15 to $20 million renovation of the Devaney Center for volleyball.

The expansion of Memorial Stadium is expected to generate roughly $7 million per year in additional revenue.

[aeroclone08]

might want to double check your math on that one; if it was that easy everyone would do it

I'm coming up with $3000/seat + interest on the bonds (15 mil/5000 seats). Still not bad. It's the $40 million in private donations that's the hard part.

[Incyte]

might want to double check your math on that one; if it was that easy everyone would do it

Not really. Only the programs that can fill the new seats would be doing it.

[Cydkar]

If they beat Iowa, good for them.

[TheHelgo]

great work Nebraska! At ISU, we've thought about doing more renovations to our stadium, but at this point have decided that we enjoy playing in a MAC-style stadium. I'm sure you're jealous.

[MookInLincoln]

At a time where the State of Nebraska is facing unbelievable debt and facing cuts to every state program including education. Literally hundreds of people are losing their jobs and everyone that lives in the state is affected.

Yeah, they got their priorities right.

I can't wait to get out of this place.