Penn State breaks $60 million Beaver Stadium renovation fundraising mark with new $5 million donation
Penn State Athletics has broken the $60 million fundraising mark for its Beaver Stadium renovation plan. It did so with a new $5 million donation from Berwyn, Pa., based sports media, marketing and technology company PlayFly Sports. If the name of that business sounds familiar, it’s because it entered into a 15-year multimedia rights agreement with the university in January of 2023. So, it goes without saying that supporting the athletic department’s remodeling of the 107,000-seat venue will help it in the long run, too.
“We have only begun to scratch the surface of the opportunities this relationship between Playfly Sports and Penn State Athletics will generate,” Christy Hedgpeth, the President of Playfly Sports Properties, said in a news release. “The Beaver Stadium Revitalization project, spearheaded by Pat (Kraft), proves the deep commitment the athletics department has for its student-athletes, alumni, donors and fans, and we at Playfly couldn’t be more thrilled to be a part of it.”
Penn State has now raised $60.25 million for the project. The school’s Board of Trustees approved a plan that will ultimately cost $700 million.
“We are very grateful for Playfly Sports and their commitment to Penn State Athletics, not just as our MMR partner, but in this important project for our department and University,” Penn State Athletic Director Dr. Patrick Kraft said in a statement.
“As a Pennsylvania-based company, Playfly Sports understands the economic and cultural significance Beaver Stadium and Penn State Football hold in our community, region and state. Their generosity will have a lasting impact on all 31 of our sports programs as these renovations play a critical role in increasing revenue to support all of Penn State Athletics.”
Penn State Beaver Stadium plan updates
While the west side renovation work will not start until after the 2024 season is complete, other changes are obvious at the stadium. Some that you can’t see, like winterization work to plumbing and HVAC fixtures and systems, will ensure the program can host a College Football Playoff home game if needed. Others, like the expanded east side concourse, offer fans a place to hang out before heading to their seats. New ribbon and video boards both around the scoreboards and on field level are active. And, an east-side escalator is scheduled to be up and running this weekend when Illinois visits for Homecoming. That contest is set for Saturday at 7:30 p.m. ET on NBC.
See photos from around the stadium below.
