What the Bulls will get if the USF football stadium isn't finished by 2027

USF will finalize agreements in the next three weeks with the companies that will build the Bulls' $340 million football stadium on campus.

The first step is scheduled for Wednesday, when the Board of Trustees' Finance Committee will discuss the proposed construction management contract with a construction group led by Manhattan Construction Company. Some of the terms included in the committee's agenda:

• If the stadium isn't ready for the 2027 season, the construction company will owe the Bulls $2 million in damages for each missed home game. The payment was the same as in previous agreements (although the opening date was postponed by a year). The proposed project timeline shows “substantial completion in time to enable use this season.”

• Final price will be determined after construction documents are 75% complete. It must be approved by the full board. The terms of the contract also state that the construction team will inform USF that construction costs will likely exceed budget.

• Initial payments will be a fixed fee of $320,975 for the first phase of preconstruction services and $167,009 for the next round. Later, USF will owe 2.25% of the labor costs during the actual construction phase.

After the committee meeting, the contract will be presented to the full board for approval at its June 4 meeting.

USF expects to break ground on the 35,000-seat facility during Homecoming week surrounding its Oct. 19 home game against the University of Alabama at Birmingham. The stadium will be located north of the team's current training facilities.

The committee documents also provide a little more insight into the financing of the building. Student committees have committed $6.3 million for the stadium in the 2024-25 year through the Campus Improvement Trust Fund (which supports capital projects). That's part of the $140 million in equity USF plans to use for the stadium, while the other $200 million will be borrowed.

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