OSU’s Reser Stadium renovation to expense much more than $324.5 million | Nearby

The university is projecting gross revenue of extra than $1 billion from high quality ticket sales more than 50 a long time, ahead of factoring “cannibalization” of current high quality ticket income, which averages out to more than $20.2 million a yr in high quality ticket product sales.

All those estimates occur from CSL Consulting of Burlington, Massachusetts, which OSU hired to run the figures. The firm has been contracted by the likes of Florida State College and the Columbus Crew Soccer Club to carry out current market investigate and to consult on stadium building and renovation jobs.

People estimates depict a substantial increase in excess of present profits ranges produced by Reser Stadium.

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Considering the fact that 2007, the university has averaged fewer than $7.5 million in once-a-year gross ticket profits — for each quality and typical seating — in accordance to Membership Financial Reporting Procedure kinds delivered by the university. The most OSU has made from total ticket product sales in a single yr in the course of that span came in fiscal 2017, when it reported just beneath $9.3 million in gross sales.

All Nationwide Collegiate Athletic Affiliation member institutions are needed to submit MFRS kinds, which detail operating revenues and fees connected to intercollegiate athletics applications, to the NCAA on an yearly foundation.

Oregon Condition delivered a spending plan projection to Mid-Valley Media that forecasts a sharp rise in Beaver soccer ticket revenues starting off in fiscal yr 2024. In accordance to that projection, Reser Stadium would see $9.6 million in new quality seating revenues in 2024, and that number would climb to $26.5 million for each 12 months by 2073.

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