As more new stadiums are built and existing stadiums are renovated, there will always be a next wave of aging stadiums to be replaced or revamped.
In Tampa, the local NFL team is hoping for a massive overhaul of a stadium that opened in 1998.
Via Colleen Wright of the Tampa Bay Times, Tampa Sports Authority President and CEO Eric Hart said he expects the Buccaneers to seek a renovation that will cost between $700 million and $1.3 billion.
The Buccaneers reportedly have floated the notion of footing the bill for one third of the expenses, with the public picking up the rest of the tab.
Complicating the situation is the fact that a new stadium for the MLB’s Tampa Bay Rays will impact the capacity to devote taxpayer money to a renovation of the football stadium. Via Emma Behrmann of the Tampa Bay Business Journal, the baseball venue is expected to include $976 million in public funding.
While the renovation will be pricey, it’s always more expensive to build a new stadium. The real question is the extent to which a major renovation will extend the overall life of the facility. At some point, it will make more sense to just build something new.
That’s the way it will continue to go. As better stadiums are built in other cities, pressure will build on other teams to do the same. It’s a cycle that will continue for as long as the NFL remains the powerhouse product it has become.
Or until enough cities and states refuse to do it, even if (for some) that entails a risk that the franchise will relocate.
