The Univ. of Washington is “evaluating options” for refinancing the debt on the Husky Stadium renovation, a move that “potentially could free up valuable cash for operations as the Huskies transition into the Big Ten,” according to Jon Wilner of the San Jose MERCURY NEWS. Washington’s $280M renovation of Husky Stadium in the early 2010s “relied heavily” on debt provided by the university’s internal lending program over a 30-year period. A financial report submitted to the NCAA noted that the athletic department paid $12.3M “in debt service” in the 2022 fiscal year. But that figure “dropped by approximately” $3M in 2023 after Washington’s board of regents approved a temporary restructuring plan. The new approach “allows the Huskies to make interest-only payments through the 2025 fiscal year.” The Huskies begin play in the Big Ten later this year after agreeing to enter the conference “at a steep discount.” The schools will “receive half-shares of the Big Ten’s annual media rights deal with Fox, CBS and NBC.” Wilner noted every dollar UW saves on debt service “could help offset the revenue disparity” ( San Jose MERCURY NEWS, 4/18 ).
Univ. of Washington seeks to refinance stadium debt ahead of Big Ten move
