The University of South Florida Board of Trustees has greenlit a $340 million on-campus football stadium project, to be spearheaded by Manhattan Construction Co., H.J. Russell & Co., and DuCon LLC.
Rendering: University of South Florida
The stadium is set to open for the 2027 football season, with penalties of $2 million per game missed and $7,500 per day past the completion date. Key aspects of the agreement include a 2.25% builders' fee for the construction firms, pre-construction phases costing USF nearly $490,000, and a commitment to involve small, veteran-owned, and certified women or minority-owned businesses in the project.
The construction team is also tasked with striving to meet or exceed a 36% participation goal for total design and construction expenditures.
Rendering: University of South Florida
In December 2023, USF secured a $200 million loan from Truist Bank at a 6.48% interest rate to fund part of the construction.
The stadium, which will also serve the university's new women's lacrosse team, is slated to break ground on October 18, just before USF's homecoming game against the University of Alabama at Birmingham. Manhattan Construction, based in Tulsa but with a strong presence in Tampa, has previously renovated Raymond James Stadium and Tampa International Airport and constructed the Dallas Cowboys' $1.2 billion stadium in 2009.
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