KNOXVILLE, Tenn. — The University of Tennessee Athletics Department is asking the Board of Trustees to approve a substantial budget increase to pay for renovations to Neyland Stadium and Lindsey Nelson Stadium.
The Board of Trustees' finance committee is scheduled to meet at 9:30 a.m. on Friday, June 30 to discuss the matter.
Tennessee Athletics is hoping to get an $88 million budget boost approved to pay for the renovations. It is asking for a $49 million increase to the Neyland Stadium Phase 1 renovations project and $39 million for the Lindsey Nelson Stadium renovations project.
In its proposal, Tennessee Athletics said it consulted with the architects and construction managers. Based on their recommendations, it said the anticipated cost of both projects would exceed the originally approved budgets for each.
Tennessee Athletics is also asking to adjust the debt funding for the projects, saying it has developed new stadium revenue sources to fund the project and debt obligations.
Originally, the Board of Trustees approved a $288 million budget for the Neyland Phase 1 renovations. The new budget would be set at $337 million if the increase is approved. The approved budget for Lindsey Nelson Stadium was set at $56.8 million, meaning the new budget will be $95.8 million if the increase is approved.
"The vision for the Project is to deliver an unparalleled gameday experience and venue for the UT community through impactful and resourceful modifications," the proposal said for the Neyland project. "The substantial renovations are monumental and transformational for the UT campus community, the Knoxville area and state of Tennessee."
The Neyland Stadium renovations have been going on for more than a year and are expected to continue into at least 2026. The massive undertaking has already added several new features to one of the largest college football stadiums in the country, including new luxury sections.
Included the list of planned additions for Fall 2023: Partial Wi-Fi service and new restrooms under the Gate 10 ramp.
For the baseball stadium, UT is hoping to expand its capacity with new sections to allow nearly 3,000 more spectators into games. Currently, the stadium has roughly 4,300 seats and 500 spots for standing room. After the renovations, Tennessee Athletics said the stadium would have 6,150 seats and standing-room access for another 1,600 spectators.
The new additions to Lindsey Nelson Stadium would also include more student-athlete amenities, improvements to the MVP Club, premium seating, and more food and beverage locations and restrooms.