Debt Roll

Slow seat sales have prompted UC Berkeley to launch a fresh marketing campaign and look for other revenue in an effort to keep pace with the $18 million a year in debt it will soon owe for the Memorial Stadium makeover and athletic center construction. The redone stadium opened last season, but only about 1,900 of the 2,900 premium club seats – lifetime spots that cost anywhere from $40,000 to $225,000 each – have been sold. And not everyone who bought a seat has fully paid up. That has left UC some $121 million short on the $474 million project. Now, Cal’s athletic department is shelling out another half a million dollars on a new sales team that will push the unsold premium seats…

“Athletics is keenly aware that we can’t let this debt roll onto campus,” (Vice Chancellor John) Wilton said…

Full story at http://www.sfgate.com/bayarea/matier-ross/article/UC-Berkeley-pushes-stadium-seat-sales-4304947.php


Oh well!  A little rollover never hurts: