OSU Reser Stadium Renovation To Cost Over $ 324.5 Million | Local
The university projects gross revenues of over $ 1 billion from premium ticket sales over 50 years, before factoring in the “cannibalization” of existing premium ticket revenues, which average over $ 20.2 million per year in premium ticket sales.
These estimates come from CSL Consulting of Burlington, Mass., Which OSU hired to manage the numbers. The company has been hired by companies like Florida State University and the Columbus Crew Soccer Club to conduct market research and consult on stadium construction and renovation projects.
These estimates represent a significant increase over the current revenue levels generated by Reser Stadium.
Since 2007, the university has averaged less than $ 7.5 million in gross annual ticket sales – for premium and standard seats – according to the forms in the member financial reporting system provided by the university. OSU made the majority of total ticket sales in a single year during this period in fiscal 2017, when it reported just under $ 9.3 million in sales.
All National Collegiate Athletic Association member institutions are required to submit MFRS forms, which detail operating income and expenses related to intercollegiate athletic programs, to the NCAA on an annual basis.
The State of Oregon provided a budget projection to Mid-Valley Media that projects a large increase in revenue from Beaver football tickets starting in fiscal 2024. Based on this projection, Reser Stadium would see $ 9.6 million. revenue from new premium seats in 2024, and that number would climb to $ 26.5 million per year by 2073.