TAMPA, Fla. (Sept. 8, 2023) – The Florida Board of Governors (BOG) today voted in favor of the financing plan for the University of South Florida’s new on-campus stadium, signaling state-level support for the transformational facility scheduled to open in fall 2026.
USF Board of Trustees Chair Will Weatherford and USF President Rhea Law presented the BOG with their vision for a 35,000-seat stadium by detailing how the project will positively impact the university community and broader Tampa Bay region as it hosts USF football and women’s lacrosse, as well as concerts and other events. The stadium will provide an opportunity to enhance campus culture, serve as a powerful recruiting tool and raise USF’s overall profile.
“Bulls Nation deserves to have a stadium on USF’s campus. Our time has come. Our 50,000 students, our alumni, faculty, staff, and our greater community all deserve the benefits that come with a stadium on our campus,” Weatherford said. “The stadium will be a rallying point that brings people together and helps connect and inspire generations of Bulls fans far and wide.”
The proposal approved by the BOG is for a stadium estimated to cost approximately $340 million. The USF Financing Corp. will issue a debt of up to $200 million that the university will repay from several sources, including operating revenues from the stadium and other revenues generated by USF Athletics. USF has also identified the other funding sources on the project, including capital gifts ($50 million, of which nearly $40 million is already raised); the Capital Improvement Trust Fund ($31 million); contingent cash contribution from the sale of educational broadband service licenses ($25 million); administrative overhead from auxiliary expenditures ($15 million); auxiliary funds ($11.5 million); and proceeds from a 2017 Federal Communications Commission auction ($8 million).
“An on-campus stadium will lift the University of South Florida to new heights, creating a brighter future for our university, our students and the entire Tampa Bay region,” Law said. “We are grateful for the support of the Board of Governors as we move forward with our plans for a transformational stadium that will take our university to the next level.”
Approval from the BOG follows yesterday’s announcement that USF received a $25 million gift from Tampa General Hospital to name the Center for Athletic Excellence, an operations facility that will be included as part of USF’s new on-campus stadium project and will feature dedicated clinical space for TGH. The gift will also name the university’s athletics district.
The stadium will be built on the east side of the Tampa campus on a site known as Sycamore Fields, providing synergy with the ongoing expansion of the athletics district and in close proximity to residence halls and other student facilities.
More information about the on-campus stadium is available here.
To view this story on the USF Newsroom website, click here.
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About the University of South Florida
The University of South Florida, a high-impact research university dedicated to student success and committed to community engagement, generates an annual economic impact of more than $6 billion. With campuses in Tampa, St. Petersburg and Sarasota-Manatee, USF serves approximately 50,000 students who represent nearly 150 different countries. For four consecutive years, U.S. News & World Report has ranked USF as one of the nation’s top 50 public universities, including USF’s highest ranking ever in 2023 (No. 42). In 2023, USF became the first public university in Florida in nearly 40 years to be invited to join the Association of American Universities, a prestigious group of the leading universities in the United States and Canada. Through hundreds of millions of dollars in research activity each year and as one of top universities in the world for securing new patents, USF is a leader in solving global problems and improving lives. USF is a member of the American Athletic Conference. Learn more at www.usf.edu.
