The centerpiece of the project is construction 2,200 premium seats on the north side of the stadium.
Game-day revenue generated by those suite, loge and club seats would nearly equal the entire rest of the stadium.
SIDE-VIEW OF THE PLANNED PREMIUM SEATING TIER ON THE STUDENT SIDE OF THE STADIUM. Color renderings of the frontal view are at the bottom of this page.
Sterk said he now hopes to have all 2,200 seats ready for the 2012 season because an ambitious effort by the school to secure commitments for 80 percent of those premium seats before year-end 2009 fell short. Commitments currently are at 50 percent, he said.
Fifty percent is not enough for banks to provide the necessary financing for the project, estimated at more than $30 million, Sterk said. The 80 percent mark represented a level that would have allowed the school to leverage those pledges for financing via the bond market.
Sterk also said the athletic Department may finish in the red for the second straight year. The Cougars turned a profit in Sterk's first eight years on the job, then lost about $200,000 in the past fiscal year.
For fans to secure premium seats now only requires a down payment -- a $300 deposit per seat -- with full payment not due until closer to completion. For more information on Phase III, contact Dan Meyer at 509-335-0236. Additional information also can be found by visiting the official stadium renovation website at martinstadium.org.
ARTIST'S RENDERING OF WHAT ONE VIEW OF THE PREMIUM AREA WILL LOOK LIKE ON GAME DAY.
ARTIST'S RENDERING OF WHAT PHASE III WILL LOOK LIKE WHEN COMPLETED. THIS IS THE STUDENT SIDE OF THE STADIUM AS VIEWED FROM STADIUM WAY.