USF OK’s $340M budget for on-campus stadium

The University of South Florida Board of Trustees approved a $340 million budget Tuesday to build a 35,000-seat on-campus football stadium.

The board authorized $200 million in debt spending to fund the majority of the stadium, projected to open for the 2026 season. The rest of the money is expected to come through donations and other university funds. According to The Tampa Bay Times, the cost is not expected to be finalized until next year. Until that is approved, the school can change its mind on the project without penalty.

USF’s Board of Trustees have approved the plan for the Bulls’ $340M on-campus stadium, per @MBakerTBTimes

The new 35,000 seat venue is expected to open in 2026🔥 pic.twitter.com/4ZOd1DuMII

— PFF College (@PFF_College) June 13, 2023

The move is a momentous day for USF, which has been lobbying for an on-campus stadium for decades. The Bulls currently play their home games at Raymond James Stadium, home to the Tampa Bay Buccaneers. USF had fallen behind with its on-campus facilities in recent years, but opened a new $22 million indoor facility this past January.

The new stadium is slated to be built just north of there. With the improved facilities, and recent designation as an Association of American Universities member, USF is hoping to position itself in a much better spot in the next round of realignment.