In a crucial step for the proposal, university regents will consider a planned Royal Memorial Stadium renovation from the University of Texas on Thursday.
Texas has been looking to upgrade Royal Memorial Stadium’s south end zone. The approximately $175 million project would improve fan and player amenities, as it is expected that facilities for the football program would be added, along with a mix of fan amenities that includes loge seating, clubs, and suites.
More details should emerge on Thursday, when Texas officials make their pitch to the UT System Board of Regents. If it is ultimately approved, Texas will cover the cost of the renovation through donations as well as other funding sources. Construction could start next year, and wrap up in time for the 2021 college football season. More from the Austin American-Statesman:
The UT System Board of Regents are scheduled to hear a presentation from president Gregory L. Fenves and athletic director Chris Del Conte during Thursday’s meeting. The south end zone expansion project is scheduled to cost approximately $175 million, according to the agenda book posted on Monday.
The school will raise $125 million of the total cost through gifts, according to UT documents. Pledges totaling $30 million have already been obtained. The final $50 million will be financed through debt markets and repaid from “premium seating and ticket sales.”
No taxpayer dollars and no tuition money will be used in the project, according to the school.
If regents approve the project, construction could begin in 2019 with a projected completion date in July 2021.
How the proposal at Royal Memorial Stadium takes shape remains to be seen, but other universities have pursued similar projects in recent years to boost their fan and player amenities. The University of Missouri has one such project in the works, while Louisville is completing a similar expansion at Cardinal Stadium ahead of the 2018 season.
Rendering courtesy University of Texas.