Eugene, Ore. (AP) — The University of Oregon’s new basketball arena isn’t bringing in as much revenues as officials had hoped.
As a result, officials have substantially lowered revenue projections for the venue.
The Eugene Register-Guard (http://bit.ly/zAoeo5 ) says a new set of financial projections have cut some revenue categories by more than 30 percent for the 1-year-old Matthew Knight Arena.
The estimates also show the athletic department could see small annual net deficits for five years, starting next year.
Athletic director Rob Mullens says, however, that even with less arena revenue than expected, the department should have more than enough money to keep its budget balanced and teams competitive.
That’s largely due to its lucrative football program and the Legacy Fund, a financial cushion from donors that made the new arena possible.
Information from: The Register-Guard, http://www.registerguard.com