re: UAB study

From a 2011 "A majority of the Board believes that an on-campus football stadium is not in the best interest of UAB, the University System or the State," it said. "It is the Board's duty to be responsible stewards of the limited resources available for higher education. In these difficult economic times of rising tuition and decreasing state funds, we cannot justify the expenditure of $75 million in borrowed money for an athletic stadium which would only be used a few days each year. The UAB football program has not generated sufficient student, fan or financial support to assure the viability of this project."

The statement called it the "wrong project at the wrong time" and added that the board "remains committed to the important mission and success of the university, the medical school and the hospital for the benefit of UAB students and the State of Alabama."

The decision came after UAB officials completed an on-campus stadium feasibility study by athletics director Brian Mackin and vice president for financial affairs Richard Margison. The study, which was circulated to board members, included a debt service of $60 million that would be repaid over 30 years. The annual debt service payment was calculated at $3.88 million.

Projected operating revenue ranged from $5,782,723 in the first year to $6,875,635 in the 10th year. The ticket revenue portion was based on season ticket sales of 7,272 and single-game ticket sales of 16,060.

"I forwarded for consideration by the Board of Trustees the information on our proposed on-campus stadium," UAB President Carol Z. Garrison said in a statement released on Tuesday.

"My responsibility is to make the best recommendations I can, based on the information that I have available to me. The responsibility of the Board includes reviewing the information and making their best individual and collective judgments. In this case the judgment was not to entertain this item."

UAB booster Jimmy Filler, who played a key role in getting purchase commitments for all 27 luxury suites in the proposed stadium, said he does not believe the board of trustees is committed to a successful UAB football program, calling Tuesday a "sad day for UAB and the city of Birmingham."