UM Board of Curators approve Memorial Stadium project

The UM Board of Curators have approved the Memorial Stadium expansion project with a unanimous 9-0 vote.

Mizzou athletic director Jim Sterk released this statement:

“This is a great day for Mizzou Athletics, and in particular Tiger Football, and we are thankful that our vision for this state-of-the-art building has been embraced by our donors who have come alongside us to help make this project a reality, as well as the Board of Curators, President Choi, Chancellor Cartwright and senior campus leaders. Providing outstanding facilities is paramount to a championship student-athlete experience in today’s environment, and this facility will help ensure the long-term academic and on-field success of Mizzou Football.”

“Our goal is to build one of college football’s premier facilities for our student-athletes and coaches to utilize on a daily basis, and we are confident that we can achieve that within the project’s budget and scope,” he added. “When this facility is completed, not only will it be an incredible asset in recruiting, but our expectations are that it will enhance the game-day environment for our fans at Memorial Stadium, too.”

According to official documents, the project will cost almost 98 million dollars. The plan also says that 10,800 general admission seats will be replaced with sixteen suites, which is expected to increase revenue.

“The proposed project will build a new three-story building and grandstands at the south end of Memorial Stadium comprising approximately 191,059 gross square feet (GSF) of construction with enclosed space of approximately 141,065 GSF. The new seating bowl will remove 10,800 general admission seats and replace with sixteen suites and associated support spaces, approximately 1,500 premium seats and 1,300 new outdoor general admission seats, resulting in increased net revenues associated with the new seating and premium amenities. The design of the football program spaces include a new team locker room (both training and game day use), football training facility, weight room, coaching offices and team meeting rooms, public and recruiting reception areas, and equipment storage. New kitchen and dining space is planned to serve both premium seating venues and team dining functions.”

Mizzou football coach Barry Odom released this statement:

“I deeply appreciate each of the donors who have stepped forward to make this happen for Mizzou Football and the Board of Curators’ approval of this facility. I believe that this facility will have a lasting impact on our football program for the next 40 years, if not longer; it’s that impactful.”

“Missouri is making a bold statement with today’s announcement and I am confident that it not only will pay big dividends in recruiting, but it will help improve our game-day atmosphere throughout the stadium,” he added. “I can’t wait to get the shovels in the ground and get going. I am thankful to lead the Mizzou Football program and represent our University and State, and am pleased we have undertaken a project of this stature.”

You can read the description of the cost below:

“The fee for basic architectural and engineering services was determined by using the University of Missouri’s “Architectural and Engineering Basic Services Fee Estimating Guidelines” at 5.0% of the $66,000,000 construction cost or $3,300,000. Additional services for multiple bid packages, audio/visual & acoustical, security, specialty lighting, food service, alternates, environmental graphics, and steam utility engineering are anticipated at $1,610,000 for a total design fee of $4,910,000.

The project will be delivered as Construction Manager at Risk (CMR) project. Construction completion is scheduled for summer 2019.

Project funding will be provided by Campus Infrastructure Funds totaling $800,000 and long-term debt financing not to exceed $57,200,000, with private gifts covering the remainder of project costs. In addition to long-term financing, the project funding plan will utilize short-term financing as private gifts have been pledged over a period of seven years. The following provides a reconciliation of private gifts available for project funding:

Private Gift Pledges According to MU Spokesperson, more than $50,000,000

Less: Allowance for Uncollectible Pledges (5,000,000)

Less: Interest Expense on Pledge Financing (3,000,000)

Net Gifts Available for Project $40,000,000

To the extent that additional private gifts are secured and / or the allowance for uncollectible pledges is not fully needed, the amount of long-term financing required could be less than the $57,200,000 indicated.”

Mizzou chancellor Dr. Alexander Cartwright released this statement:

“This project would not be possible without the generosity of our donors, and we are very grateful for their support of Mizzou. As an SEC institution, this project will allow us to remain competitive in the top athletic conference in the country. Athletics continues to be one avenue that brings our campus together and to inform people across the nation about the quality of education and the opportunities that are available to students who choose to make MU their academic home.”