CSU Director Tony Frank stated on Monday he’s going to secure the development of the brand-new campus football athletic field, however, he stated to CSU’s Directors that he advises against starting the new construction project until more than fifty percent of the $250 million dollar estate has been contributed by private venturists.
Tony plans to have a sit down with the CSU board later this week where he will offer his advice on raising capital for the new stadium which will be built directly on the campus. He also plans to advise them on how to continue with the next phase of construction planning. The brand new stadium is intended to be situated near Whitcomb and Lake Street on the southern side of the campus.
As Tony Frank said in his press releases, if the university fails to secure funding for the new stadium, they will turn their interest in towards the existing stadium, Hughes, to make sure it will be suitable for years to come for students and fans alike.
This news brings a little bit of closure to the 9 month proposal which started with the stadium committee composed of over 17 members. Through careful research they found ticket sales, box seats, team rights, and other areas could bring in up to Twenty six million in revenue in the first year alone.
Having said that, there are plenty of people in opposition to the new stadiums creation, including an economics professor from Philadelphia’s Temple University. After Review of the proposed figures, Professor Maxcy stated the figures are extremely optimistic. The issue is creating much debate with fans, students, and alumni alike. Many of which prefer the Rams proceed to play in the existing Hughes stadium.
Like almost all other universities in the state of Colorado, CSU is struggling from the lack of funding provided by the state. Many of the Universities are dealing with this problem by accepting a higher number of out of state students into their programs. However, President Frank believes they need to be doing more to lure in these students, as Colorado’s pretty mountain scenery isn’t enough on its own.
Frank believes the new stadium will help aid CSU in acquiring a higher number of out of state applicants; however, there is no hard research to support his claim. The new stadium is also supposed to help attract alumni back onto campus. The stadium will be used for more than just football games, and plans are in the works for events such as wine tasting and more.
Regardless of the outcome, this story will be one to follow in the upcoming months.