Oct 8, 2013
Rose Bowl Stadium Gears Up for Next Phase of Renovations
By Lauren Gold, Pasadena Star-News
PASADENA - The Rose Bowl Operating Company will receive bids this month for the next phase of the renovation of the iconic Rose Bowl Stadium.
Rose Bowl staff updated the RBOC Board on the next phase of the renovation project, which will be completed in 2014, at its monthly meeting Thursday. At the meeting, the RBOC also heard projections for the remaining $12.7 million in funding needed for the remainder of the $182 million project to be built after 2014.
“We’re over 80 percent complete and the good news is the biggest piece is the pavilion and the response received from people who have utilized the space has been excellent, which is wonderful news for us,” Rose Bowl CEO and General Manager Darryl Dunn said. “We are continuing to try to make the Rose Bowl better in the future and looking forward to our work next year.”
Though the first phase of stadium renovation, which included the $84.4 million premium seating pavilion, drew scrutiny after an independent report showed officials underestimated the cost of the project by $30 million, Rose Bowl officials said things are now running smoothly.
“The first few years of the project were very difficult. We were under tremendous time and contractual constraints to complete the pavilion and we were trying to do so while the stadium continued to operate,” RBOC President Victor Gordo said. “But now I would say the project is running very well at the moment; things are certainly going well.
Officials said they have $164.8 million in hand for the project as of Sept. 25, and anticipate they will have raised $169.6 million by the end of 2013 from Legacy Campaign contributions, bond interest and concessions investments. The project is anticipated to earn the final $12.4 million needed by the end of 2018, garnering $3.4 million from the 2104 BCS championship game, $2 million in revenue from the sale of personalized bricks for a mosaic at the stadium entrance and another $7 million in Legacy Campaign donations.
“With UCLA off to a good start and the year ending with the 100th Rose Bowl Game and the BCS game, it should be a good revenue year for the Rose Bowl,” newly appointed RBOC member Nicholas Rodriguez said.
This year also saw $2,671 in profits from the Gold Cup Men’s Soccer double header and more than $400,000 from the JAY Z and Justin Timberlake concert. The stadium lost $40,104 on the Fourth of July fireworks show. Regardless, Dunn said those funds will likely stay within the stadium’s operating budget rather than going toward the renovation.
Dunn said he’s confident that funding sources will come through, the final phase of stadium renovations won’t begin until the money is in the bank.
“We are not going to be doing any additional work until the dollars are in hand,” Dunn said. “We are not going to be doing work first and waiting for dollars to come in.”
The next phase of construction, estimated at $10-$11 million, will include a warning track on the field, installation of hedges along the sidelines, added restrooms on the stadium’s lower level and new exits for the lower level seats. The project also includes the brick mosaic and other modifications to the stadium entrance.
Bids for the project are due at the end of the month and a firm will be selected by November, Dunn said, with construction to begin in January.
For more information on the brick campaign, visit www.rosebowlbricks.com.