NORMAN, Okla. – The University of Oklahoma announced the first phase of the building project for the Gaylord Family Memorial Stadium today.
According to OU, the first phase of the project will be completed before the 2016 season.
The design and development elements are estimated to cost around $160 million.
The facet of the project will focus on the south end zone seating bowl, a feature that will initially increase seating capacity to more than 84,000 seats.
OU officials say the new building will include a new locker room, strength and conditioning room, training room, nutrition center, meeting rooms and the equipment operation. Student-athletes from all 21 OU sports will benefit from the space.
OU President David Boren stressed that no state appropriated funds and no tuition would be used for the project.
Funding will come solely from private gifts and athletics revenues.
“Fundraising and sales have gone exceedingly well and, and as with all Athletics Department endeavors, we will undertake this project with no burden to taxpayers, students or central campus budgets. The project will be constructed entirely from Athletics Department generated capital funds, bond funds and other private sources. These sources will fully fund all construction, bond payments, and related operational expenses with the appropriate reserves and contingencies.”