Cal's New Stadium Renovation Leaves School with Huge Debt to Pay off

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Cal's New Stadium Renovation Leaves School with Huge Debt to Pay off
Courtesy of YahooSports.com

The news on Cal's stadium renovations, and the lack of sales to finance it, must be more than a little disturbing to school officials looking at a huge debt. A major part of the financing for the $321 million renovations to Memorial Stadium was selling special endowment seats, the San Francisco Chronicle reported. They cost $40,000 to $250,000 and you get to keep them for 40 or 50 years. Great plan, right? Well, sure, until they (rather predictably, given the cost) couldn't sell them all.

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