OT: The $700 Million clash over Penn State Football.

[FRA10Thunderbolt]

Board approves a debt-funded stadium renovation as some trustees push back against the plan​

College sports are still trying to figure out a sustainable business model now that their student athletes are getting paid. Pennsylvania State University says this is the time for a $700 million renovation for its football stadium.

Penn State’s board approved the massive debt-funded project this spring. Supporters say it is necessary for the Nittany Lions to stay competitive in a period of growth for college football revenue. Penn State’s Big Ten football team has had winning seasons 18 of the last 20 years and is a point of pride for the university.

Yet some trustees and alumni, including the son of legendary Penn State football coach Joe Paterno, are questioning the Beaver Stadium makeover plan. They challenge the school’s rosy financial forecasts for the project and point to the still-uncertain impact of new rules allowing player endorsement deals and revenue-share payments.
https://www.wsj.com/us-news/educati...nn-state-football-6545e69b?mod=hp_featst_pos3

 

[RUBob75]

Paywall!

 

[Knight Shift]

Board approves a debt-funded stadium renovation as some trustees push back against the plan​

College sports are still trying to figure out a sustainable business model now that their student athletes are getting paid. Pennsylvania State University says this is the time for a $700 million renovation for its football stadium.

Penn State’s board approved the massive debt-funded project this spring. Supporters say it is necessary for the Nittany Lions to stay competitive in a period of growth for college football revenue. Penn State’s Big Ten football team has had winning seasons 18 of the last 20 years and is a point of pride for the university.

Yet some trustees and alumni, including the son of legendary Penn State football coach Joe Paterno, are questioning the Beaver Stadium makeover plan. They challenge the school’s rosy financial forecasts for the project and point to the still-uncertain impact of new rules allowing player endorsement deals and revenue-share payments.
https://www.wsj.com/us-news/educati...nn-state-football-6545e69b?mod=hp_featst_pos3

Strange Name and facade for the upgraded stadium, but if the shower shoe fits. . . . . .No wonder Joe's son opposes it.

 

[BeantownKnight]

Whoohoo -- they've got their own "Rutgers 1000"!!

 

[ScarletKid2008]

It’s pretty crazy they’re talking about nearly a billion dollars for a stadium reno project. I kinda hope they do it , start losing, and find themselves in a financial sh**thole