Winston-Salem State University has officially made an offer to buy Bowman Gray Stadium, but the school is considering raising student fees 5 percent in order to do that.
The City of Winston-Salem has valued the 17,000-seat stadium at $10 million. WSSU officials said the student fee increase would raise $7.5 million over the next 20 years.
The increase would add another $110 to the bill of full-time students, raising total student fees to $2,100 a year.
“We can’t go to the state and say, ‘Would you buy us a football stadium?’ It has to come from auxiliary sources, and those sources have historically been student fees,” said Owen Cooks with WSSU.
A bill that would authorize the stadium’s purchase is currently heading through the General Assembly. If passed, a deal could be ready to be signed by the fall.
The student fee increase would be implemented this fall as well.
For the neediest students, university officials said it would provide financial aid to pay the student fee.
Besides being the home for WSSU football, it is also home to the longest-running weekly races in NASCAR.
Regardless of who owns the stadium, racing will continue at Bowman Gray for the duration of a 20-year lease, which was signed in December.
Race promoters said they don’t plan on charging parking fees to cover the proposed sale.
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