June 18, 2024


Elegant home interior

OSU’s Reser Stadium renovation to cost extra than $324.5 million | Local

The university is projecting gross profits of more than $1 billion from premium ticket profits about 50 several years, in advance of factoring “cannibalization” of current premium ticket earnings, which averages out to additional than $20.2 million a year in quality ticket revenue.

Those estimates appear from CSL Consulting of Burlington, Massachusetts, which OSU hired to operate the quantities. The company has been contracted by the likes of Florida State College and the Columbus Crew Soccer Club to perform marketplace analysis and to consult with on stadium construction and renovation assignments.

All those estimates depict a major maximize in excess of present income levels generated by Reser Stadium.

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Since 2007, the university has averaged less than $7.5 million in yearly gross ticket gross sales — for equally premium and conventional seating — according to Membership Money Reporting Process forms provided by the college. The most OSU has produced from complete ticket revenue in a single 12 months in the course of that span arrived in fiscal 2017, when it documented just under $9.3 million in income.

All National Collegiate Athletic Affiliation member institutions are essential to post MFRS varieties, which depth running revenues and costs relevant to intercollegiate athletics courses, to the NCAA on an once-a-year basis.

Oregon State furnished a funds projection to Mid-Valley Media that forecasts a sharp increase in Beaver football ticket revenues starting off in fiscal 12 months 2024. According to that projection, Reser Stadium would see $9.6 million in new high quality seating revenues in 2024, and that selection would climb to $26.5 million for every 12 months by 2073.