GAINESVILLE, Fla. (AP) 鈥� The University of Florida is planning the most expensive 鈥� and potentially most comprehensive 鈥� stadium renovation in college football history, a $1.45 billion overhaul of that school officials believe will nearly double annual revenue from their 鈥�$75 million ATM machine.鈥�
The Gators of the burgeoning project at a board of trustees meeting Thursday, providing the total budget (up from $400 million) as well as a start date (2027 offseason) and a completion date (2030 offseason). The board said the transformation will 鈥渂reathe new life into one of the nation鈥檚 most iconic college football venues and elevate it into the premier collegiate athletic destination that sets the standard for everyone else.鈥�
鈥淓very inch of this stadium is going to be affected,鈥� athletic director Scott Stricklin added.
Florida started looking at ways to upgrade “the Swamp鈥� in 2018. The process was delayed by COVID-19 and ended up morphing into a 鈥�50-year solution鈥� instead of a 鈥渟hort-term fix,鈥� Stricklin said.
Florida generates $75 million a year from the nearly 100-year-old stadium from tickets, concessions, parking and contributions. Stricklin called it 鈥渁 $75 million ATM machine鈥� and the athletic department鈥檚 鈥渕ost important asset.鈥�
The remodel is expected to provide 鈥渁 $65 million lift annually,鈥� bringing total revenue from the venue to $140 million at a time when every dollar matters as the Gators look to better compete in 21 sports.
The venture is expected to be funded through a combination of private donations, capital reserves and long-term debt approved by the Florida Board of Governors.
The undertaking will revamp 82 current suites, add 63 more atop the east side of the stadium, create additional premium seating areas and install state-of-the-art video boards and audio capabilities. It includes $500 million in deferred maintenance costs, infrastructure improvements and wider aisles and handrails to comply with the Americans with Disabilities Act.
Capacity, however, will remain at 88,548 despite losing thousands of seats in the lower bowl. New suites will make up the difference, and all of those premium areas 鈥� current ones are behind glass 鈥� will be open air.
鈥淚 don鈥檛 think holistically it will change at all,鈥� Stricklin said. 鈥淥ur tagline for this is going to be, 鈥楤igger, Better, Louder.鈥� More structure is going to hold in more sound. This is going to be a louder environment.鈥�
Florida annually ranks as one of college football鈥檚 toughest places to play. And the Gators vowed to keep intact as much of what makes the Swamp unique: the orange wing walls and a bowl design that includes a below-ground-level playing surface.
Florida officials toured Fenway Park, Wrigley Field and Lambeau Field to find a landing spot between preserving the past and modernizing for the future. The Swamp鈥檚 design ended up mostly resembling what took place at Lambeau in 2012-13, where the Green Bay Packers kept the lower bowl intact and built above it.
鈥淚t鈥檚 a big checklist of what we鈥檙e trying to accomplish,鈥� Stricklin said. 鈥淚鈥檓 very excited because I think when people walk in it for the first time, they鈥檙e going to be blown away, and the money鈥檚 going to seem very well spent.鈥�
Stricklin said recent projects even remotely close to Florida鈥檚 scope include Texas A&M鈥檚 $450 million overhaul to Kyle Field in 2013-14 and Penn State鈥檚 $750 million renovation to Beaver Stadium that鈥檚 expected to be completed in 2027.
鈥淭here are a lot of sponsorship areas that we鈥檝e never really leveraged,鈥� Stricklin said. “I think we can be really aggressive, and this will generate a lot of excitement, not only among fans but also among businesses that want to figure out how to be a part of it. We can leverage that to not only help pay for the stadium, but we can also leverage that for NIL opportunities.鈥�
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