DALLAS — Texas A&M University plans to spend up to $450 million renovating Kyle Field but has not announced a bond finance plan, according to reports.
Local governments in Bryan and College Station would contribute $38 million toward the 100-year-old stadium’s expansion from its current 82,600 seats to more than 100,000, matching or surpassing the capacity of the University of Texas’ football stadium in Austin.
The expansion plans come amid a flurry of stadium construction and expansion.
Texas Christian University in Fort Worth this month christened its remodeled Amon Carter Stadium, financed with $164 million in donations.
Nearby Baylor University is building a $250 million stadium on its Waco campus to replace the 50,000-seat off-campus stadium.
Louisiana State University in Baton Rouge, which competes with Texas A&M in the Southeast Conference, recently won approval from the State Bond Commission for $75 million of revenue bonds for a stadium expansion.
The University of Arkansas, another SEC team, used bonds to finance $95 million for stadium expansion for more suites.
Elsewhere in the Southwest, Colorado State University is expected to announce next week whether it will build a $246 million stadium on campus.
Arizona State University in Tempe is creating a stadium district to finance a remodeling of Sun Devils Stadium.
The city of Dallas recently issued $45 million to upgrade the Cotton Bowl, which was the home the Southern Methodist University Mustangs until the university built an on-campus stadium in 2000.
Texas A&M also recently completed a $60 million upgrade of Kyle Field.
A&M chancellor John Sharp has not announced whether Kyle Field will have to be closed for a season to complete the remodeling project. Sharp announced plans for the expansion in an interview with the local Bryan Eagle newspaper.
A study for the Bryan/College Station Conventon and Visitors Bureau and Chamber of Commerce reported that if Kyle Field were closed for an expansion, losses would include 955 jobs and $21 million in payroll in Brazos County, along with a reduction of $2.8 million dollars in local property taxes.
During 2011, the incremental direct spending of fans, media, sponsors, and teams associated with A&M games at Kyle Field came to $120 million, according to the report. Local tax receipts generated $5.8 million, the report said.
Six of the SEC’s 14 competing universities are planning or are considering some sort of stadium remodeling or expansion.
According to the Baton Rouge Advocate newspaper, tickets for A&M’s Kyle Field are the most expensive in the conference at $100 for some top games. Across the conference tickets cost $70 or more, the newspaper reported.