Oklahoma is restructuring plans for the expansion of Gaylord Family - Oklahoma Memorial Stadium. The unversity is going ahead with plans for the south end of the stadium while delaying projects in other areas of the stadium.
The original price tag of the project was estimated at $370 million. However, market factors, namely the drop in the price of oil, had made the cost untenable. On Tuesday, OU president David Boren announced at a Board of Regents meeting that the project would be done in phases.
David Boren: "We have now decided due to uncertain economic conditions... to approach this Master Plan in phases, not do it all at once."
— Guerin Emig (@GuerinEmig) March 10, 2015
Basically, OU dropping price tag of total stadium renovation to south end zone only from $370 mil to $160 mil. Boren: "Focused and frugal."
— Guerin Emig (@GuerinEmig) March 10, 2015 A covered upper concourse is to be built on the south side of the stadium as well as new suites. In addition to those features, space for the university was to be added to the north side of the stadium as well as west-side upper deck renovations.
An expanded weight room is still part of the south end zone plans.
Here are the new stadium renderings for the updated renovation plan. http://ift.tt/189rJqf
— Carey Murdock (@CareyWWLS) March 10, 2015 The south project is set to be complete before the 2016 season. According to the Oklahoman, the revised plan calls for 28 suites to be added to the stadium and all have been sold. Bond funds for the project were initially estimated at $250 million, but the revised estimation is now $117 million for this phase.
For more Oklahoma news, visit SoonerScoop.com.
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Nick Bromberg is the assistant editor of Dr. Saturday on Yahoo Sports. Have a tip? Email him at nickbromberg@yahoo.com or follow him on Twitter!
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