Kelly Lyell

kellylyell@coloradoan.com

CSU exceeded even the most optimistic revenue projections for premium seating sales at its new on-campus stadium, based on figures released Thursday by the school.

All premium seats have been sold out for at least the first three years, bringing in at least $3 million in revenue for the first year, with annual increases built into the contracts of 1 to 3 percent, depending on whether seats were purchased for three-, five- or seven-year terms.

The sellout includes 23 suites, priced at $35,000 or $45,000 apiece depending on capacity; 43 loge boxes at $12,000 or $16,000 each; 149 indoor club seats at $2,300 apiece; and 819 outdoor club seats at $1,500 apiece. Premium seats were only available through three-, five- and seven-year contracts, suggesting none will become available again until 2020.

Total revenue from the sale of the premium seats is about $3 million or more, depending on the capacity of each suite and loge box sold. A breakdown on how many of the larger private suites and loge boxes sold, and how many will be used by the university, was not immediately available, an athletic department spokesman said.

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If all were the smallest size offered, the total cost of those seats for 2017 would be $2,892,200, which is $1.2 million higher than the low-end projection and $200,000 above the most-optimistic financial model included in a 2012 study on the feasibility of building the stadium.

Colorado State University issued revenue bonds to cover the $220 million cost of building the controversial new stadium on the southwest side of the school’s main campus and the first three years of interest payments on those bonds. Bond payments will max out at $12.18 million from 2021-2055.

“We are extremely thankful for this amazing level of support for CSU athletics and the on-campus stadium,” athletic director Joe Parker said in a news release.

The school will soon open up the New Belgium Porch and Orthopaedic & Spine Center of the Rockies field-level club areas for reservations for the 2017 season. New Belgium, a Fort Collins brewery, made a $4.3 million donation to cover naming rights and the cost of building the porch bar and seating area in the north end zone of the new stadium. Orthopaedic & Spine Center of the Rockies declined to disclose the dollar amount of its gift for naming rights to the field-level club seating area.

General seating in the 36,000-seat stadium with total capacity of 41,200 will go on sale in March and April, with Ram Club members getting first priority based on a point system.

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The university announced a $20 million gift last spring from an anonymous donor to put the name of legendary CSU coach Sonny Lubick’s name on the playing field of the new stadium. The field at Hughes Stadium, where the Rams are completing a 48-year run this fall, was named in his honor in 2003 as a condition of a $15 million gift from local philanthropist Pat Stryker to renovate that facility.

Negotiations are still underway for overall naming rights to the new stadium, Parker said recently. Other sponsorship opportunities also exist that would bring in additional revenue.

Total donations toward the stadium’s construction totaled $46.4 million through the 2015-16 fiscal year that ended June 30.

CSU’s football team has three more games remaining at Hughes Stadium this season, including its annual homecoming game at 8 p.m. Saturday against Utah State. The Rams will move into the new stadium next fall, with the first game scheduled for Sept. 9, 2017, against Abilene Christian.

Follow reporter Kelly Lyell at twitter.com/KellyLyell and facebook.com/KellyLyell.news.