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Construction company proposes private financing for new ODU football stadium

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Posted at 9:06 PM, Apr 11, 2016
and last updated 2016-04-11 21:06:37-04

Norfolk, Va. – Old Dominion University is huddling up to go over a proposal for a new football stadium.

On March 29, Stephen Ballard of S.B. Ballard construction gave an offer to privately finance Old Dominion University’s new football stadium, which is not the traditional route in financing for college athletics.

The school has to make a decision by July 8 in order to have the stadium ready for their first home game against Virginia Tech in the 2018 season.

The plan proposes 25,000 seats and includes 60,000 square feet of classroom or flex space that could turn the stadium into a destination venue, bringing events year round to the stadium.

Ballard also addressed that having a private entity in charge of up keeping the facility would be more cost-effective.

The proposed timeline is more aggressive than Old Dominion University’s. The Board of Visitors will meet on April 21, but will not hear a presentation until June 9.

ODU President John Broderick says the stadium issue will be addressed in June.