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Five takeaways from the OU Board of Regents' June meeting
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- Five takeaways from the OU Board of Regents' June meeting
The OU Board of Regents held its June meeting on Wednesday at the POSTOAK Lodge and Retreat in Tulsa.
Wednesday's agenda included numerous proposals and announcements that affect OU's athletics department. Here are five takeaways:
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OU offsets net athletic revenue loss with increase in ticket and advertising revenue
After originally being scheduled to join the SEC in 2025, OU and Texas agreed to pay the Big 12 a combined $100 million to make the move in July 2024.
It's unclear how the two universities plan to split that buyout fee. But according to Wednesday's agenda, OU intends to offset its portion by increasing ticket and advertising revenue.
No further details were provided, although this could result in an increase in base ticket prices.
Board of Regents approves next phase of gymnastics facility renovation
The OU Board of Regents approved design development phase plans for the Sam Viersen Gymnastics Center Expansion & Improvements project.
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The project is estimated to cost $13.75 million. It consists of an approximately 15,734 square foot addition to the existing building and the renovation of approximately 2,146 existing square feet.
The project will improve team facilities, training facilities and the building's overall function.
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Board of Regents approves preparation of new tailgating policy
The OU Board of Regents authorized the university's administration to prepare a Tailgating and Major Event Day Policy.
The goal of said policy, according to the agenda, is to "promote a safe and enjoyable environment on campus on home football game days and major event days."
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The policy will include information about designated tailgate areas, consumption of food and beverages on campus, protecting ingress and egress from the stadium and other facilities and security measures.
OU athletics department reports increase in air charter services
The OU athletic department reported a significant increase in its annual air charter services costs.
After spending $2,460,241.44 on charter services for the 2022 fiscal year, which is July 2021 through June 2022, the department has spent $3,657,742.83 through March for the 2023 fiscal year. The department also projects that cost to increase to $4 million in 2024.
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The increase in costs shouldn't come as a surprise for OU, which is set to join the SEC in July 2024. The conference's teams are located in the states of Georgia, Tennessee, Arkansas, South Carolina, Mississippi, Kentucky, Florida, Missouri, Alabama, Louisiana and Texas.
Board of Regents approves Esports facility renovation project
The OU Board of Regents approved the addition of the Oklahoma Esports Facility to its campus master plan of capital improvement projects.
The project consists of an approximately 5,000 square foot renovation to an existing space at the Cross residential complex. It'll provide a state-of-the art competitive gaming facility, recreational gaming stations and a production area.
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This article originally appeared on Oklahoman: OU Board of Regents approved gymnastics facility renovation
