CSL was engaged by Kansas State University to conduct an independent assessment of the University’s plan to fund a $75.0 million west side expansion of Bill Snyder Family Stadium through debt financing secured by capital gifts and annual premium seating donations. As an initial project step, CSL reviewed the conceptual master plan for the west side stadium expansion, assessed the various financial, demographic and socioeconomic characteristics associated with the University, its football program and the Manhattan regional area, and reviewed the financing plan prepared by the University for the stadium expansion. Subsequent to these analyses, CSL reviewed the current premium seating program at Bill Snyder Family Stadium and compared its premium seating program with other Big 12 Conference football stadium premium seating programs in order to analyze the University’s ability to support additional premium seating inventory. CSL then compiled capital fundraising statistics of other peer football stadium expansion projects in order to provide a benchmark from which to assess the University’s ability to support one-time capital gifts tied to various premium seating areas throughout the stadium. Finally, CSL provided various recommendations related to premium seating sales thresholds necessary to fund project debt service, as well as other potential revenue sources that could be used to fund project debt service.

 

Based on the results of CSL’s study, the Board of Regients approved a $75.0 million west side expansion of Bill Snyder Family Stadium in 2012.