The final version of the 90-plus-page feasibility report, released by The University Tuesday, detailed the issues that were considered by the Board of Visitors' committee in making the decision to not pursue an on-campus stadium at this time.
During the course of their research, Heery International, focused on three key issues: where a new stadium would be located, how much it would cost, and how it would be funded. In addition, they conducted focus groups with current and potential donors to The University, students, faculty and staff, citizens in the local community, alumni and season ticket holders.
The study proposed a stadium with 40,052 seats with the possibility of a future expansion to about 60,000.
Seven potential sites were initially identified as possibilities, but one was eliminated because it interfered with location of new music building proposed in the Campus Master Plan.
The estimated costs of stadium construction on the sites ranged from $118,901,811 to $151,079,117.
Based on the assumptions in the study, Heery International estimated that an on-campus stadium could generate enough revenue to pay for it self - only if construction costs were $100 million or less.
Stadium-generated funds include seat licensing, parking, advertising, naming rights, facility fees (as a ticket surcharge) and revenues from other events - including high-school football games, concerts, band competitions and events in the banquet and lounge areas.
Last year, according to the study, attendance at Tigers' football games averaged about 21,459 paid attendees, consistent with the previous five years. But for the purposes of revenue analysis, they assumed that a new stadium would attract 33 percent more attendees - a total of 25,000.
Proposed annual seat licensing fees ranged from $100 to $350 per seat, for a total of $3 million in additional income initially, with $50 increases in per-seat licensing fees every five years.
These revenue sources would be sufficient to cover $100 million in construction costs, leaving a $18 to $51 million gap.
To fill this gap, the study listed other potential sources of funding, including student fees, state and city funding, possibly hosting the AutoZone Liberty Bowl or the Southern Heritage Classic.
Focus group participants estimated that students would support a $100 per year student fee increase, which would raise approximately $2 million.
But the study went on to recommend that "students receive complimentary admissions to football games, capped at 4,000 to 5,000 seats per game."
