The Terrapins athletics department is in the process of planning upgrades to Comcast Center in hopes of generating additional revenue amid growing debt problems, a university official said last week.
Most notably, the department is considering constructing steel rigging along the campus basketball arena’s roof, which would enable large concerts to be held at the venue. The project would cost about $500,000, according to Randy Eaton, the senior associate athletics director for new revenue, facilities and operations. The department is currently discussing deals with promotion companies that would offer to cover the cost of installation in exchange for the right to host events at the venue.
“We’re looking at different options, how to fund the construction that it would cost to put the rigging in,” Eaton said. “We do have an estimate that we think is feasible.”
Meetings were held with promoters as early as 2004, and the most recent major meetings took place this spring. Should the department end up subsidizing the cost of installation, Eaton said it would be “very safe to say” the department could recoup its expenses from the project within a year, although he said it was unclear at this point exactly how much revenue could be earned from hosting concerts.
The department hopes to decide on the project’s next step by Jan. 1.
“We’ve got to be ready to roll right as spring semester begins to get this thing rolling in order to hit our window,” said Eaton, who added that completing the renovation between August and September next year was also possible.
When Comcast Center was built in 2002, it was originally designed to include steel rigging along the roof. But the feature was phased out as construction progressed, making the building a less attractive venue for large-scale events. Without proper rigging, lights and speakers cannot be hung from the roof, as they are at popular concert venues such as Verizon Center and Patriot Center.
While the building can hold concerts as currently constructed, it cannot accommodate the type of event that could maximize revenue for the department. Additionally, department officials in the past have voiced opposition to holding large numbers of events at the arena because of fears they would interfere with athletics teams’ schedules.
“The idea at the time obviously was to be able to utilize this facility for major outside events,” Eaton said. “But, that being said, this was a facility that was constructed for student-athletes. So that had to be our primary focus going into it.”
Rigging the arena, Eaton said, is a four-to-six-week process that would require the complete shutdown of Comcast Center. Given the schedule of the school’s men’s and women’s basketball teams, finding the time to take on such a project would prove difficult. The most ideal window for the process, Eaton said, would be between April and May next year.
Comcast Center’s scoreboard also poses an obstacle for possible renovations. The scoreboard, which cost $1 million, was not designed to be relocated after its installation, and Eaton said it could collapse if moved onto a platform. If not moved, it would be vulnerable to debris from construction.
Still, the added revenue could be a boon for a cash-strapped department that this week announced it was cutting eight teams unless fundraising was secured to sustain them. With an $83 million debt and hopes of maintaining a financially viable model with a smaller array of varsity teams, it may have no better option than to begin what may be a risky construction.
“The Commission believes that the Comcast Center, Byrd Stadium and other athletic venues are viable locations that can be used to enhance revenue as well as provide venues for student entertainment,” the President’s Commission on Intercollegiate Athletics wrote in its report to university President Wallace Loh. “An infrastructure should be put in place to maximize the use of these facilities as venues for concerts and other large-scale meetings and performances.”
Athletic Director Kevin Anderson, who was not available for comment, supports the transformation of Comcast Center into a multi-use facility, according to Eaton.
“Kevin is committed to making this happen and using this facility and has said that from day one,” Eaton said.
Eaton said he expects the rigging project to be completed by no later than 2013, explaining that the department’s debt crisis has only heightened the importance of the initiative. Still, the department knows the importance of following through on construction properly.
“We want to make sure when we start this, we do it right from the start,” Eaton said. “We don’t want to rush into anything.”