Here's an intersting article from the Gazette Times: Was Reser Worth The Cost?
Corvallis Gazette Times
Year 1 of the new Reser Stadium isn't complete, yet returns on the investment have been pouring in.
But was the $93 million project worth the effort eight months after completion?
Yes, says Oregon State money cruncher Todd Stansbury. The executive associate athletic director supervises the business operations of the athletic department, and expects more growth to come with the next stage of construction, maybe as soon as after this football season.
The expanded venue helped the overall athletic program's budget, and should keep the Beavers competitive with the rest of the nation. Then there are the intangibles.
"Look at the success across the board, it's phenomenal," Stansbury said. "And with the coaches we've attracted the last couple years, anyone associated with Oregon State athletics should be pretty excited about the future."
Stansbury is optimistic because he's looking at the books. The Beavers made a little more than $37.2 million in 2004-05, clearing $1.1 million after all the expenses. That was the last year without the rebuilt stadium revenue.
While the budget increased for the 2005-06 season by $10 million, OSU expects to handle the increase when all the numbers are in by July.
"(Athletic director) Bob De Carolis looked into the future, and the only way to keep the athletic department fiscally sound was that you had to increase the inventory of what that stadium could produce," Stansbury said. "When you generate at total capacity at the level it was, there was no where we could go without expanding the stadium."
The Beavers sold out the 36,000-seat stadium for nearly five years. The most OSU could get out of a season was $8 million, according to Stansbury. With the new configuration of 43,000 seats there's $20 million available.
Most of the added money comes from donations, not tickets sales on the extra 7,000 seats. There has yet to be a sellout in the new stadium.
OSU places donation dollar values on select season tickets, and fans must donate money to the Beaver Athletic Student Fund before they are allowed to buy tickets in the Club Level or Loge sections.
With more amenities and plush seats, the higher the ticket price. And that means a higher donation level.
"It was well worth the money," said Randy Jones, a longtime Corvallis businessman and season ticket holder. "It's a family affair with my grandchildren. They love the social activities and ambiance, and I'm there for the football. I think it exceeds everything anyone could have imagined."
I agree, I think Reser was worth the cost. It improved the face of our football program. We still have one of the smallest stadiums in the Pac-10, but it gives visitors a different sense of what Oregon State football is about. I'm sure it also helps out with recruiting. I know it sure makes it a whole heck of a lot lounder on the field, with the fans literly on top of of field. Hopefully in the next few years we will be able to start selling it out, and move on to Phase II of the project.
What do you think?