The USF Board of Trustees approved a $407 million expenditure for USF’s 35,000-seat on-campus stadium and other associated projects during a Tuesday meeting. 

The stadium will cost $348.5 million. It’s a slight jump from the previous price of $340 million the board approved in June 2023. The motion passed unanimously with little discussion.

Site preparation in Sycamore Fields first began in February. Athletics Director Michael Kelly said Manhattan Construction – the stadium’s construction manager – will begin building now that the final price is approved.

“It’s about as big as a check as we’re gonna write for anything,” BOT Chair Will Weatherford said on Tuesday.

A portion of the $407 million will be used to improve the space around the stadium. USF Chief Financial Officer Jennifer Condon said the improvements meet the needs of a space that will grow in density. 

Related: USF breaks ground on campus stadium: ‘Championships will be won here’

Additional improvements – called the “East Campus Infrastructure Upgrades” – include walkways, lighting and green space. They will account for $47.9 million of the $407 million expenditure. 

A new wastewater facility, lift main and stormwater facility will also be built. 

The remaining $10.5 million will be for the owner’s contingency. It’s a cash reserve that accounts for any unexpected costs, such as tariff implications or inflation. 

The stadium will be completed by the May 2027 deadline. A timeline shown during the meeting shows the clearing of Sycamore Fields – the site of the stadium – will begin in mid-May. 

USF has secured $358.1 million in funding for the stadium, including the $200 million loan issued by the USF Financing Corporation in September 2023. The university is accounting for $17 million in interest generated from the loan.

Related: Here’s how USF says it is funding its stadium

The structure of the stadium will be complete by May 2026 and final inspections will be conducted in April 2027. 

Kelly said USF plans to move into the stadium during the summer of 2027 to be ready for football season.

The 27-acre site on Sycamore Drive will rapidly transform over the coming years, becoming the future home to USF football and lacrosse

“This is a transformative moment for our university,” Weatherford said.