Commonwealth Stadium
I chose to talk about Commonwealth Stadium because like Rupp Arena it is another big athletic attraction to Lexington. Both of these hosts athletic events during their seasons and Commonwealth Stadium is where the University of Kentucky's football team plays. Like Rupp Arena it is in the process of being remodeled and expanded to allow for more seats to be added along with making the stadium more up to date and technical to meet the needs and desires of fans and prospective athletes.
Commonwealth Stadium was first built in 1973 at the price of $12 million on 86-acres of land. At that time it had 57,800 seats available and with the most recent expansion it upgraded to 67,606. This expansion came in 1999 and cost the university around $27.6 million overall. Also, in 2005 a Bermuda grass playing surface was added to the stadium. These expansions of Commonwealth stadium helped bring in more of a revenue by allowing more ticket sales to be sold in correlation with the sales from concessions and merchandise sales. In this situation it is evident that with an expansion to a premier athletic facility the possibility for an increase in overall revenue is definitely a positive.
While reading this article, I thought of a few questions. First, how much will the new expansion of Commonwealth Stadium cost the university? Second, where do the funds for this project come from in the university's financial plan? Third, if this renovation was possible, why is there such a problem with the renovation of Rupp Arena? Fourth, what is the gross profit of Commonwealth in a season compared to Rupp Arena in a season?