Classrooms beneath the bleachers on the east side of Ohio Stadium that have remained empty for decades are expected to be converted into a private club.
Under the proposal, construction for the 1922 Club is planned for next year and to be completed in 2026, provided the project is approved by the university’s board of trustees.
About 12,000 square feet will contain dining and lounge areas for members on game days, as well as Tuesdays through Saturdays year-round.
“We thought, ‘Hey, let’s give it a shot,’” said Mike Penner, facilities manager. “This is an area where we can renovate and create a premium space.”
Premium offerings have been a part of the Horseshoe since 81 luxury suites were built during the major renovation in 2001.
But the spaces are increasingly coveted at this pivotal juncture in college athletics. As a result of a proposed legal settlement of three antitrust cases against the NCAA, Ohio State is preparing to begin sharing millions of dollars in revenues from its media rights deals, sponsorships and ticket sales with athletes next year.
Ross Bjork, who replaced Gene Smith as the Buckeyes’ athletic director this summer, expects around $22 million, the maximum allotment, to be set aside for revenue sharing due to the agreement.
The significant expense adds to the urgency for the athletic department to tap new revenue streams.
“It’s no secret that universities and athletic departments like Ohio State are going to need to find more revenue for the players if they continue to spend the way they spend,” said David Ridpath, a professor of sports business at Ohio University.
The price of annual memberships to the 1922 Club, which include access on game days, are $4,500. Social memberships are $1,000.
Those fees could add seven figures in revenue each year to the department, according to its early projections.
“Some of it will be dependent on how many we sell,” Bjork said, “but we could be looking at several million dollars in net revenue on an annual basis.”
Bjork added, “It’s not insignificant.”
The estimate accounts for construction costs, which are expected to total between $15 and $20 million, along with additional annual operating expenses.
