Memphis Tigers Athletic twitter account recently trumpeted this news.
Memphis Tigers announce Stadium upgrade
According to the article, the main upgrades are as follows:
Priority elements of the wide-ranging project include:
- A transformation of the stadium’s west side, providing several innovative premium seating options
- Creating a hospitality experience within the halo space surrounding the stadium
- Other new seating options, such as family boxes on the north end and party deck patios for students on the south end
- A potential repurpose and retrofit of the east side suite tower
The short answer is that this is a $150-200 million upgrade, paid for by public, private and philanthropic sources. It is estimated to be finished by 2025. This is an overdue upgrade to a stadium that has been in continuous service since 1965. Yes, no misprint, 1965. It was built in 1964 and was used as a lure to try to gain an NFL franchise, the city (and stadium) lost out to the then-expansion Jacksonville Jaguars.
The running cost totals; the stadium was built in 1965 at a cost of $3.7 million.
In 1987 12,000 seats were added at a cost of $19.5 million.
In 2013 stadium improvements were made to upgrade at a cost of $9 million. This was done also to conform to the Americans Disability Act (ADA). LIberty Bowl upgraded to conform to ADA
This is an aggregate cost of $180 million in major improvements over the years, for an originally (in 1965 dollars) stadium built for $3.9 million dollars. Add in a perhaps $150-200 million upgrade…. total $380 million in upgrades.
This leads to the obvious question.; wouldn’t it be cheaper to build a new stadium? The most closely aligned comparison is the University of South Florida Bulls, who are building a new stadium for $245 million.
Even though $150 million is not that much as $245 million, it gives you pause to consider whether it’s the best course or should they have swallowed their pride; and tried to ante up a lot more money… and replaced the facility.