Golden Nuggets: More methods of making money with Memorial

Cal is looking to build Memorial Stadium into a "hub for activity" for the community, featuring entities that embody "innovation and excellence."

Cal is looking to be somewhat radical in our use of the renovated California Memorial Stadium, by expanding it into a multi-purpose center and a "new campus gateway.

"By next fall, California Memorial Stadium not only will be bustling on football game days, but busy all week as a vibrant new campus gateway and a multi-use building filled with both academic and athletic activities. Classrooms, an auditorium, food vendors, a student store, a fitness center and more will inhabit the stadium, which reopened in August 2012 after a $321 million renovation.

In addition, campus tours will originate from a scenic new home for the UC Berkeley Visitor Center, which serves more than 150,000 people a year. The spectacular views of UC Berkeley and the Bay Area from the stadium's club levels will continue to be enjoyed by private, corporate and campus groups that since fall 2012 have rented them for more than 180 special events.

...

"Our new financial approach to paying for the new facilities incorporates a strategic focus on the diversification of revenue sources to reduce dependency on core sports," said [Vice Chancellor for Administration and Finance John] Wilton, "and thereby increase financial stability over the long term."

Currently, Memorial Stadium serves as home to the Berkeley-Haas Innovation Lab and the Recreational Sports Fitness Center, with several tenants lined up for the near future. Berkeley is considering it to be a "Sproul Plaza East," so just imagine all that hot flyer-ing action!

Of course, some people out there just have to use their poop-colored glasses to view this news. Hi, Wilner!

For all their problems and missteps, the Bears are on the cutting edge in this vital slice of collegiate athletics.

In fact, one could argue they're on the cutting edge because of their misstep with the original financing model for the stadium and training center (combined cost: $474 million).

...

The Hotline has been critical of Cal athletics on a number of front in recent years, ... [b]ut when it comes to identifying potential new revenue sources, particularly from existing campus facilitiesWilton recently hired a vice chancellor for real estatethe Bears are ahead of the game.

I love that last lineit just reads as "God, you guys usually suck, but I guess you got this one thing right." Love you too, Wilner!

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