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Sunday, June 16, 2024

Penn State Approves Initial Stages of $700M Athletics Renovation

  • Last week, Penn State’s Board of Trustees approved the beginning stages of a $700 million plan to renovate athletic facilities.
  • The school has approved major upgrades to Beaver Stadium, which will receive $70 million in upgrades in this first phase.
Beaver Stadium will receive major upgrades over the next four years.
Penn State Athletics

Penn State athletics is about to get a major facelift.

Last week, the school’s Board of Trustees approved the beginning stages of a $700 million plan to renovate its athletic facilities — most notably major upgrades to Beaver Stadium, which will receive $70 million toward renovation during this first phase.

The school estimates that these major renovations are a more economical option than building a new football stadium, which could have cost an estimated $1.5 billion, according to The Philadelphia Inquirer.

The project, which will also benefit other teams in the department, will reportedly take place four years and be completed by August 2027. Construction will begin in January 2025 after plans are finalized over the next year.

A Self-Sufficient Department

Unlike many similar projects across the country, Penn State’s renovations will be funded solely by the athletic department, which will use a combination of loans, fundraising, and capital budget. 

The university’s president, Neeli Bendapudi, noted that it’s one of the only athletic departments in the country that is completely “self-sustaining.”

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