App State to build new $25M indoor practice facility in part from sports wagering tax proceeds

Appalachian State University will use its allocation from a sports wagering tax to help pay for a $25 million on-campus indoor practice facility.

The UNC Board of Governors on Nov.

13 approved ASUs funding proposal for the 85,000-square-foot facility, of which $3.3 million, or 13%, comes from the sports wagering allocation.

The $25 million capital investment is down from a $29 million cash outlay disclosed in the ASU report to the board.

The new facility will be adjacent to Kidd Brewer Stadium and will replace the current Sofield Family indoor practice facility and the nearby softball field.

Demolition is expected to begin in January and the new center will take up to 18 months to complete.

Although the primary goal is providing the ASU football team with a 100-yard-long indoor practice field, the facility will be used by other athletic teams and non-athletic activities such as ROTC, camps and clinics.

According to the proposal submitted to the Board of Governors, half of the funding, $14.5 million, comes from private fund-raising.

The university said it has 100% commitment to that funding, including $2.5 million already in hand.

Theres also $5.8 million projected from athletic operating revenue, $2.9 million from lease revenue and $2.5 million from what was listed as institutional equity.

ASU athletic director Doug Gillin could not be reached for comment on the new indoor practice facility.

App States current indoor practice facility is nearing the end of its useful life, according to the presentation.

Inclement weather requires that App States football team hold separate practices for its offensive and defensive units, and non-football groups are not able to use the facility during football practice.

Sports Betting Alliance spokesman Pat Ryan said that App States planned practice facility is one of many positive projects that the industrys tax revenue will support in the coming years.

Within the controversial House Bill 347, titled Sports Wagering/Horse Racing Wagering, that was signed intp law by Gov.

Roy Cooper in June 2023 is an 18% tax on the eight licensed sport wagering operators gross wagering revenue.

That tax money is to be divided between the athletics departments of all UNC Schools, except for UNC Chapel Hill and N.C.

State.

The bill doesnt say how the schools are to use the money, save for using it to support collegiate athletics departments.

Winston-Salem State plans to use its sports wagering allocation to pay for a portable batting cage for the softball team, as well as add a womens flag football team, and doubling the equipment budget for every sport except football, which does receive funds from the pot.

As such, each department is projected to receive $1.33 million from tax proceeds generated from March 11 when wagering began through Sept.

30, according to the N.C.

Revenue Department.

According to a legislative fiscal analysis report, the consensus revenue forecast estimates a further $1.7 million will be allocated to each institution by the end of fiscal 2024-25.

Payments are made to the departments a month after the taxes are collected from the sports wagering operators.

North Carolina policymakers chose to take on the prolific sports betting shadow market by allowing responsible, American-headquartered companies to meet consumer demand, Ryan said.

Theyre proud to play by the rules and pay a reasonable tax to responsibly serve North Carolina customers.

[email protected] 336-727-7376 @rcraverWSJ Get local news delivered to your inbox!.

This article has been shared from the original article on hickoryrecord, here is the link to the original article.