City & County of Mobile expected to contribute $15 million to Jaguars new stadium
MOBILE, Ala. (WPMI) —
Tuesday June 26, 2018 could be one of the final hurdles in the University of South Alabama building an on-campus football stadium.
On that day, both the Mobile City Council and County Commission will discuss financial support for the university's effort in building the facility.
Since its inception South Alabama's football program has played its home games in the 70-year-old Ladd-Peebles stadium.
But recently the university's board voted to begin construction on a state-of-the-art 25,000 seat on-campus stadium.
As always the only problem is money. The facility is expected to cost around $75-million with most of it coming from the university, athletic program, and donors.
But South says it needs more and are turning to both the city and county of Mobile to help start a snowball effect in fund raising.
"It's our belief that if the city and county support this project, people will realize it's really going to happen and other donors that we've talked to will then be willing to make a donation for the stadium," said USA President Tony Waldrop.
Sources have told WPMI the county's contribution will likely be about $5 million.
But Mayor Stimpson is expected to put forth a plan to contribute $10 million to the effort in installments of $500,000 a year for 20 years to help service the university's debt.
But it comes on the condition that South kick back $2.5 million to help renovate and re-purpose Ladd-Peebles Stadium.
The plan is for the Jaguars to begin play in the new stadium by the start of the 2020 season meaning ground must be broken as soon as next month to meet that deadline. Making Tuesday's meetings critical.