Investment in CSU stadium a sensible risk.

• Author: Ringo, Kyle
• Position: SPORTS BIZ - Colorado State University

COLORADO STATE UNIVERSITY IS MAKING THE SMART CHOICE TO BUILD A NEW ON-CAMPUS FOOTBALL STADIUM. IT'S AN investment in the future with the potential to help improve the football program and the school for decades to come.

That does not, however, mean it comes without risks. Then again, investments always do.

The most significant worry has plenty of merit: Will fans fill the new venue for six home games every year? And if they do, will it allow the school to pay off the colossal debt it will incur with revenue from ticket sales, suites and clubs seats? If not, the project could become a heavy anchor around the neck of the athletic department.

CSU plans to pay the entire $220 million price tag through bond sales, paying the debt back over 40 years. This funding model estimates the true cost of the stadium when it is finally paid for by the late 2050s at $451 million.

There is a decade worth of evidence that suggests Rams fans won't consistently fill the planned 36,000 seats. The football program hasn't come close to averaging even 30,000 fans over the course of a season at any point in the past 10 years. The stadium's detractors need no further argument than just last season to make their case against building it.

Consider that on Nov. 22, 2014, the Rams hosted New Mexico at Hughes Stadium, their current home located three miles west of campus. The Rams were 9-1 going into the game with a chance to win the Mountain West Conference, and a spot in a prestigious New Year's Day bowl game still on the line.

It was a partly cloudy day, 43 degrees at kickoff at 11:38 a.m. There were no obvious reasons for Rams fans to miss the game and plenty of reasons for the stadium to be filled. But it wasn't. Not by a long shot.

Only 22,131 fans showed to see the Rams improve to 10-1 overall and 6-1 in the conference. Hughes' capacity is 32,500, which means nearly one-third of the stadium was empty for the final home game of one of the most successful seasons in the school's history. It's fair to ask: If Rams fans aren't going to show up for a game of that magnitude, when will they?

The answer: When there is a new stadium.

Curiosity always fills new arenas and stadiums at first, and that will be the case...