TAMPA, Fla. — The University of South Florida Board of Trustees approved a plan for financing an estimated 35,000-seat on-campus facility costing $340 million, the university said Tuesday.
The stadium, scheduled to open by fall 2026, will be built on the east side of the Tampa campus on a site known as Sycamore Fields, supplementing the ongoing expansion of the USF Athletics district.
During Tuesday’s meeting, the board also approved a plan to relocate recreational fields and other small facilities located at the Sycamore Fields site to other locations on campus to help ensure that all USF students continue to have access to facilities for club sports, intramurals and other recreational activities.
“I’m pleased to see our board recognize the value of this project and significant return on investment it will bring for the on-campus experience at USF,” said Chair Will Weatherford. “The stadium will provide the university community with a place to come together and express their shared passion for USF, build lasting memories and stay connected to the university for life.”
The approval by the board authorizes the USF Financing Corp. to issue a debt of $200 million that the university will repay from several sources, including operating revenues from the stadium and other revenues generated by USF Athletics.
The funding sources that will be used to support the other $140 million on the project are as follows:
- Cash advances on future capital gifts ($50 million)
- Capital Improvement Trust Fund ($31 million)
- Auxiliary funds and proceeds from a 2017 FCC auction ($34 million)
- Contingent cash contribution from the sale of educational broadband service licenses ($25 million-$40 million)
“The University of South Florida is investing in our athletics programs in ways we never have before. The construction of an on-campus stadium is a complex endeavor that requires significant financial resources and thorough planning. We are very excited about the progress we are making on this long-awaited project, and we are grateful to our Bulls fans and the surrounding Tampa Bay community for their continued enthusiasm and support,” said USF President Rhea Law.
In partnership with the design team of Barton Malow and Populous, USF is currently going through the design phase of the new stadium. That phase includes more than 40 recent meetings with stakeholder groups, including students, faculty, staff, alumni, fans and other supporters.
After the design phase, USF leadership will present a more detailed plan for a stadium, including renderings of the facility.
“There is incredible commitment and alignment from our university leadership to bringing a high-quality stadium to our campus. The approval by the Board of Trustees should instill great confidence from the USF community that we are going to build a ‘home’ that we can call our own, will attract the best and brightest and will continue the tremendous elevation of our athletics programs and the entire university,” said Vice President and Director of Athletics Michael Kelly.
More information about the plans approved by the board today can be found here and more information about the on-campus stadium is available here.
