USF selects date for stadium groundbreaking ceremony
USF has announced the date it will begin construction on the approximately $340 million on-campus stadium project.
The groundbreaking ceremony will be held on Oct. 18 – the day before USF football’s homecoming game against UAB.
Related: USF Finance Committee approves construction agreement for campus stadium
The announcement was made by Board of Trustees (BOT) chairman Will Weatherford during the board’s meeting on Tuesday morning.
“A long time in the making,” Weatherford said. “A lot of work has gone into finding the right place and designing the right facility in helping us create an environment that is going to activate our campus in a way that’s never been activated before.”
The BOT also unanimously approved the stadium’s construction agreement, marking another step to formally begin construction of the stadium.
The agreement comes two weeks after the BOT’s finance committee approved the document on May 22.
Related: USF’s on-campus stadium has a new construction firm
Manhattan Construction Co. was selected to manage the stadium construction on April 9.
The firm has over $7.2 billion in sports project construction experience, according to their construction bid.
The university has not yet agreed on a finalized price for the stadium. USF has allowed up to $340 million to be allocated towards design and construction costs.
USF will take on a $200 million private-loan debt to fund part of the stadium costs, with the other $140 million being raised from donations, university funds and the sale of broadcast licenses.
The stadium is slated to be completed on May 31, 2027, according to university documents. The firm will be fined $7,500 per day if the stadium is not completed in time, a penalty that increases to $2 million for every home football game the stadium is not ready for.
USF is able to terminate the contract at any time, according to the document.
The development will be located on the site of Sycamore Fields on Sycamore Drive, just north of where USF football’s Indoor Performance Facility was constructed.
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