I love overanalyzing. It’s the plight of any millennial. We’re very good at it. Probably too good.
I also enjoyed all of the interesting nuggets inside the deck presented to Penn State’s Board of Trustees as they approved a $700M renovation to Beaver Stadium on Tuesday.
Here are some of the interesting things I noticed while going through that presentation. (And if you’d like to follow along, you can do so here.)
“Videoboard nearing end of usable life” – Page 4
Didn’t they just replace those? The deck doesn’t clarify which one(s) but again, didn’t they just replace those? Well, yes, they did. Back in 2014, they put the current scoreboards which are essentially full-width displays, departing from the two-screen setup that was used after the last major renovation. As a person with no knowledge of giant video boards, 15-ish years doesn’t feel like a very long time for those things to last.
“Renovate: $700M Cost | $44M Profit” – Page 6
This is the crux of the conversation here: Should Penn State go small and only make necessary housekeeping changes? Should Penn State go big and build a new stadium?
Instead, Penn State approved the renovation of the current Beaver Stadium, which is not the original Beaver Stadium but still not a new new Beaver Field. Got it?
Look, Beaver Stadium has the best in-arena experience in the Big Ten but the concourse is lacking. It’s old and I think sentimentally, and in the court of public opinion, people would not look fondly on Pat Kraft tearing down Penn Staters’ proverbial home in favor of a smaller stadium. It is #107kStrong after all. This point is reflected on page 8 as well as a key takeaway, saying a new stadium “doesn’t preserve current iconic stadium.” This is the right decision.
“Using no tuition dollars or educational budget” – Page 9
I think there’s a sense of pride in that statement for a lot of Penn Staters. It’s also the right call. It also seems like the stadium also won’t be funded by taxpayer dollars. That’s a good thing too.
“Elevate: National leading ticketing and premium inventory management provider” – Page 10
It’s interesting that this one is first because as mentioned throughout the rest of this document – and in the survey you might have filled out last fall – much of the revenue will come from premium seating. Things like suites, club and more. I think this is where a lot of Penn Staters, myself included, get anxious. What will happen to my seats? How much more is this going to cost me – even if I don’t sit there? I don’t know and I’m sure we won’t know for a while but I’m anxious about it too.
It also now falls on Elevate – or really Pat Kraft – to make sure that revenue is coming in. This project will be his legacy project – maybe more than any other hiring. If Kraft can’t sell this stadium and the seats in it, he will have failed.
“Philanthropy/naming opportunities $50M” – Page 11
Say hello to Utz Field at Beaver Stadium. Or maybe Hershey’s Field at Beaver Stadium. Or Sheetz Field at Beaver Stadium. As an Altoona boy, I certainly will not be lobbying for Wawa Field at Beaver Stadium.
The point here being: There’s a massive amount of money to be made from giving the field, stadium gates, the student section and more a name – or rather a presenting sponsor in more proper business jargon. Why? Just today, Texas State’s relatively tiny football stadium compared to Beaver Stadium inked a $23M deal to be called UFCU Stadium. If Texas State can get $23M for that, imagine what Penn State can get calling it New Holland Field at Beaver Stadium.
“Player compensation/revenue sharing” – Page 12
It feels like a selective word choice to say “player” and not “student-athlete.” At least we’re calling it what it is.
“Restrooms Increase of 15%+” – Page 14
Now we’re getting to the good stuff. Actual details. Just make sure those bathrooms have the troughs. It keeps things flowing.
“Concessions Increase of 102 Points of Sale” – Page 14
At least 99 of those points of sale better include chicken baskets.
“An early draft for illustration purposes only” – Page 18
One would have to think that this is what Kraft is thinking – or at least this is the general idea. I appreciate this look and find it much better than the brick house look in master facilities plan released back in the Sandy Barbour era.
“Augment enrollment efforts with prospective students” – Page 18
This might have been slid in there as PR fluff but I appreciate it. The stadium is an essential part to the Penn State experience for a lot of students. Why not make it a part of the pitch to come to Penn State – especially when you’re not an athlete? Whether it can be done remains to be seen. But the thought is nice.
“ESPN GameDay, BTN Tailgate – opportunities for growth” – Page 19
As a sports media geek and partial believer in the theory that Penn State might not like Fox, this is my favorite nugget in the entire presentation. It feels too much like a conscious choice that Penn State put “BTN Tailgate” in there as opposed to Fox’s Big Noon Kickoff. Big Noon is a much bigger entity already. Fox will also be the rights holder of the conference for years to come. Leaving them out here is fascinating. To take it a step further, ESPN is no longer a core rights holder of the Big Ten and that may limit the number of trip the GameDay gang makes to Happy Valley.
It’s petty. I might be overthinking it but man did it make me laugh.
“Average $16,237,082 per home football game.” – Page 21
This is the economic impact of Penn State games in the Centre region. Obviously this is a bit of a guess-timated number but that’s no small chunk of change. Expand the stadium’s use to two or three more marquee events and that’s a massive impact on a lot of small businesses in State College and beyond.
“Concerts, sporting events, weddings, etc.” – Page 21
Bruce Springsteen. NHL game with a Penn State game to follow. I’m already married. Supercross event?
“Design Phase” – Page 23
It looks like we will have the official renderings and plan by the end of the 2024 football season with construction starting shortly after. It’s time to give the old Erector Set a facelift.
There’s still so much to learn in the coming weeks and months about the future of Beaver Stadium but overall, the deck provided a good grasp on what to expect.
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