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Stadium Renovation to be paid by Athletics alone
Football facilities renovations were announced at an athletics board meeting today. The timeline and financial specifics were discussed, with renovations that will cost $110 million. This will be paid off by UK athletics in 30 years at $6.6 million a year.
According to Eric Monday, UK’s new executive vice president for finance and administration, the project will be focused on two ideals: to increase our competitiveness as well as fan satisfaction. The stadium renovations is to be completed in the fall of 2015 or early spring of 2016. Jen Smith of the Herald Leader discusses this in her article in more detail.
After the overview of the project, C.B. Akins, chairman of the athletics committee, said he was pleased that it was being paid for with athletics dollars alone.
“We’re appreciative of the fact that this will be totally paid for by athletics and that we have an athletics program that is operating in the black, unlike many institutions across the country, whose programs are subsidized by universities because they have deficits annually,” Akins said.