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While studying possible on-campus stadium, USF set to sign 6yr extension with Raymond James Stadium:

http://www.tampabay.com/blogs/bulls/usf-...um/2310524

Even as it studies the possibility of an on-campus football home, USF appears set to enter into a new lease agreement with Raymond James Stadium.

The agreement -- six years with a five-year option -- is part of the agenda for Tuesday's meeting of the Tampa Sports Authority's executive committee. The term includes a termination clause with a 24-month written notice.

The school's prior lease with the stadium expired after the 2016 season.

Terms of the agreement indicate USF will pay no rental fees, and only direct costs associated with its games. However, it must collect and pay to the TSA a ticket surcharge equal to 8 percent of the price of the tickets sold, not to exceed $2.50 per ticket.

Direct costs for use of the lower bowl and two club lounges is estimated to be $172,000 for games with fewer than 24,000 participants, and $185,000 for games with more than 24,000 for the 2017 season. Rates for future years will be determined each July.

Those costs have increased gradually over the past decade. USF had an announced average attendance of 37,539 for seven home games in '16, and an actual average (per TSA) of 27,887.

My condolences.

Do they get to put udders on the pirate ship under the new contract?

Yay!

No $12 million fee? No $2 million annual rent?

(01-23-2017 01:48 PM)jaredf29 Wrote:  Yarrrrr!

FTFY.

(01-23-2017 01:15 PM)Bearcat2012 Wrote:  RedditCFB
‏@RedditCFB

While studying possible on-campus stadium, USF set to sign 6yr extension with Raymond James Stadium:

http://www.tampabay.com/blogs/bulls/usf-...um/2310524

Even as it studies the possibility of an on-campus football home, USF appears set to enter into a new lease agreement with Raymond James Stadium.

The agreement -- six years with a five-year option -- is part of the agenda for Tuesday's meeting of the Tampa Sports Authority's executive committee. The term includes a termination clause with a 24-month written notice.

The school's prior lease with the stadium expired after the 2016 season.

Terms of the agreement indicate USF will pay no rental fees, and only direct costs associated with its games. However, it must collect and pay to the TSA a ticket surcharge equal to 8 percent of the price of the tickets sold, not to exceed $2.50 per ticket.

Direct costs for use of the lower bowl and two club lounges is estimated to be $172,000 for games with fewer than 24,000 participants, and $185,000 for games with more than 24,000 for the 2017 season. Rates for future years will be determined each July.

Those costs have increased gradually over the past decade. USF had an announced average attendance of 37,539 for seven home games in '16, and an actual average (per TSA) of 27,887.

Yikes

The key phrase:

"The term includes a termination clause with a 24-month written notice."

In other words, the agreement can be cancelled at any time if USF pursues an on campus stadium, provided they give a 24 month notice prior to leaving.

(01-23-2017 03:07 PM)BullsFanInTX Wrote:  The key phrase:

"The term includes a termination clause with a 24-month written notice."

In other words, the agreement can be cancelled at any time if USF pursues an on campus stadium, provided they give a 24 month notice prior to leaving.

Correct and since our lease ran out after 2016 season and it would take at least two years to build a stadium if you started process now. This makes sense.

so USF doesn't get a taste of concessions or parking?

(01-23-2017 03:07 PM)BullsFanInTX Wrote:  The key phrase:

"The term includes a termination clause with a 24-month written notice."

In other words, the agreement can be cancelled at any time if USF pursues an on campus stadium, provided they give a 24 month notice prior to leaving.

And no cancellation penalty I assume? If so great.

What part of two-year cancellation notice is too difficult for UCF fans to understand?

The feasibility study is ongoing, land has been idenitified and preliminary financing plan has legs. This has been an ongoing project for the last 18 months. USF is going to do this right.

(01-23-2017 06:43 PM)CyberBull Wrote:  What part of two-year cancellation notice is too difficult for UCF fans to understand?

The feasibility study is ongoing, land has been idenitified and preliminary financing plan has legs. This has been an ongoing project for the last 18 months. USF is going to do this right.

Only 2 UCF fans responded about this in this thread and neither comment mentioned anything about the lease.

(01-23-2017 02:37 PM)Chappy Wrote:  No $12 million fee? No $2 million annual rent?

This is not South Philadelphia.


BTW, "Little Nicky' Nicodemo Scarfo passed away the other day.

Belated condolences to the family?


.
.

(01-23-2017 06:43 PM)CyberBull Wrote:  What part of two-year cancellation notice is too difficult for UCF fans to understand?

Huh?

8 out of the first 10 posts were from:
Cincinnati fans
ECU Fans
USF Fans
Georgia State Fan

Yeah...ignore those posts why don't ya.

(01-23-2017 03:07 PM)BullsFanInTX Wrote:  The key phrase:

"The term includes a termination clause with a 24-month written notice."

In other words, the agreement can be cancelled at any time if USF pursues an on campus stadium, provided they give a 24 month notice prior to leaving.

Love that clause.

(01-23-2017 07:21 PM)KnightLight Wrote:  

(01-23-2017 06:43 PM)CyberBull Wrote:  What part of two-year cancellation notice is too difficult for UCF fans to understand?

Huh?

8 out of the first 10 posts were from:
Cincinnati fans
ECU Fans
USF Fans
Georgia State Fan

Yeah...ignore those posts why don't ya.

...you sound a little salty. Must be all those decommitments.

(01-23-2017 06:57 PM)jaredf29 Wrote:  

(01-23-2017 06:43 PM)CyberBull Wrote:  What part of two-year cancellation notice is too difficult for UCF fans to understand?

The feasibility study is ongoing, land has been idenitified and preliminary financing plan has legs. This has been an ongoing project for the last 18 months. USF is going to do this right.

Only 2 UCF fans responded about this in this thread and neither comment mentioned anything about the lease.

all in good fun...

Sorry Bulls. We Aztec fans know what this is like. Thats why we are thankful to be getting a new stadium more suitable for college football.

(01-23-2017 06:57 PM)jaredf29 Wrote:  

(01-23-2017 06:43 PM)CyberBull Wrote:  What part of two-year cancellation notice is too difficult for UCF fans to understand?

The feasibility study is ongoing, land has been idenitified and preliminary financing plan has legs. This has been an ongoing project for the last 18 months. USF is going to do this right.

Only 2 UCF fans responded about this in this thread and neither comment mentioned anything about the lease.

I think he's projecting his insecurity about being stuck in a red and concrete pirate stadium for another 6 years.