The news on Cal’s stadium renovations, and the lack of sales to finance it, must be more than a little disturbing to school officials looking at a huge debt. The Chronicle said the school now carries a $445 million debt for the stadium and a new $153 million student athletic center. The story outlines some fears, mostly from Barsky, characterized as a longtime critic of the plan, that the cost of tuition could rise especially if the school has to use academic funds to pay off the debt. The story says paying off stadium debt is already taking 20 percent of the athletic budget, and that’s just to pay interest. The school won’t start paying down the principal until 2032.
Cal Berkeley, home of great government economists and Obama advisors, carries $600M in new school debt. Cal still backing the metric system, fails to bring home the bacon.
Tags: Cal Berkley stadium