As expected, the Nebraska Board of Regents approved the Big Red Rebuild Project, the $600 million Memorial Stadium renovation that will begin in 2027 or sometime.
I did an article about this a few days ago where I called it a “no-brainer” decision. Here’s the video I did, in case you haven’t seen it.
Here are the key points you need to know:
– There is no taxpayer money involved in this. $250 million of the money will come from private donations. $350 million will come through bonds.
– This renovation isn’t going to last 10 years. It’s going to last decades.
– Realistically expected to cost around $800 million when it’s done because that’s how construction works. 15 to 20 percent cost overruns are typical.
– The athletic department projects $95 million in revenue, increasing by 40% over pre-renovation revenue because they’ll be able to host additional events. They’ll likely be charging more for premium seats.
– The plan also includes $200 million in back maintenance to be done to the stadium, which is a good idea because it would be really bad public relations if you had the stadium collapse around you while you were at a football game.
– I’ve seen a lot of comments as to why they wouldn’t spend this money on other programs that are winning right now. And I will cycle you back to the point I made earlier that this renovation will be around for decades. Stop thinking about you right now and next season with Matt Rule and think of what your kids are going to have to sit in in 10 years or 15 years.
