The University of West Florida is taking two major steps this week toward transforming its athletics program — breaking ground Wednesday on the Darrell Gooden Stadium and securing Board of Trustees approval to borrow up to $20 million from the UWF Foundation to pay for it. The vote on the loan will be at today’s board meeting.
- Details: The new multi-use facility will expand seating from roughly 3,800 to 7,500 and feature premium seating, club areas, suites and modern amenities designed to host events well beyond football. A lead gift of more than $9 million from the Gooden family secured the naming rights, and Escambia County’s Tourist Development Council kicked in $2 million from bed tax revenues.
“The Darrell Gooden Stadium represents an important step forward for the University of West Florida, creating a place where students, alumni and the community can come together around shared traditions,” President Manny Diaz Jr. told the crowd at the groundbreaking.
Financing Plan
The financial mechanics deserve attention. The Foundation loan carries a fixed 4% interest rate over a 10-year term. During that decade, UWF makes interest-only payments — potentially up to $800,000 annually if the full $20 million is drawn. The entire principal balance comes due in January 2036, though prepayment is allowed at any time without penalty. See Stadium Note.
- The loan is structured as non-recourse to the university, meaning if something goes sideways, the Foundation’s assets are on the hook — not UWF’s operating budget or state funds. Repayment is expected to come primarily from philanthropic pledges and donations, with stadium rental fees and athletic revenues serving as backup sources.
Why this matters: That’s a significant bet on donor generosity. The university is essentially building the stadium now and counting on future fundraising to cover the bill. The bridge loan gives UWF flexibility to manage the gap between when construction bills arrive and when pledge payments come in.
- Dig Deeper: The Haas Center projects the football program alone will generate $23.3 million in economic output over five years, contributing $8.7 million to the county’s gross regional product.
Construction continues through the 2026 season, with a new 85-by-30-foot LED video board going up this year. The first game at Darrell Gooden Stadium is targeted for fall 2027.
Athletics Director Dave Scott called it “a transformative era for Argonaut Athletics,” while Coach Kaleb Nobles said the facility will be a game-changer for recruiting and fan experience.
- The real question is whether the donations materialize on schedule. UWF has a decade to find out.
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