The 12th Man Foundation engaged CSL International to provide a premium seating market and financial study for Kyle Field. The premium seating market and financial study was completed in tandem with the completion of a stadium master plan by a national sports architecture firm. As part of the market and financial study, CSL conducted a comprehensive email survey of 12th Man Foundation members and other football season ticket buyers to assess interest in potential premium seating options, purchase intent at various potential price points, purchase intent at various potential locations, lease terms, donation impacts and other important considerations. Over 3,800 email surveys were completed as part of this process, which enabled survey respondents to view premium seating pictures and potential layouts and locations online to better convey the seating concepts being tested. In addition to the email survey, 250 surveys were completed with local (College Station) and regional (Houston MSA) companies that are not members of the 12th Man Foundation or current or past ticket buyers to assess potential demand from this market segment, which would represent new business opportunities for the athletics department. The survey research was also augmented by the completion of five focus group sessions with 12th Man Foundation, current football ticket buyers and the corporate community to provide additional qualitative insight into potential premium seating options at Kyle Field. Market research also included a review of historical football attendance, premium seating sales and 12th Man Foundation fund raising capabilities; review of Southeastern Conference (“SEC”) and other identified peer football stadium premium seating inventory and pricing programs as well as a review of the premium seating inventory and pricing at sports facilities in the regional area which may represent potential competition for any future premium seating at Kyle Field. Based on the results of the market study, CSL developed a detailed financial analysis to determine the amount of bond financing that could be supported from incremental premium seating revenues.