LINCOLN, Neb. (AP) — University of Nebraska regents on Friday approved a $600 million overhaul of Memorial Stadium that will make the 103-year-old venue more fan-friendly and increase revenue potential for the athletic department.

The project will be funded by a mix of $250 million in philanthropic support and $350 million in private bond financing. Completion is targeted for the start of the 2028 football season.

The Cornhuskers have played at Memorial Stadium since 1923 and will enter this season with an NCAA-record sellout streak of 410 games dating to 1962.

Amenities throughout the stadium will be upgraded and a new concourse will connect the east and west sides. Planned capacity is 80,000, including 20,000 new chairback seats.

Officials said the stadium would host concerts and other events year-round and annual stadium revenue would increase 40%, to an estimated $95 million.

“Memorial Stadium is, of course, iconic in Nebraska and in all of college athletics,” university president Jeffrey Gold said, “and this project, which we are calling ‘Big Red Rebuild,’ is ambitious and strategic. The Big Red Rebuild is a fan-driven, once-in-a-multigenerational investment that modernizes Memorial Stadium while preserving its legacy, ensuring it remains a premier destination for college athletics and other year-round events.”

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