Yahoo Finance You needed millions of dollars to secure a Founders suite at Alabama football games
Alabama’s renovations for Bryant-Denny Stadium begin Monday. And if you wanted one of the 10 Founders suites at the remodeled stadium, you’re out of luck.
You also needed some serious cash. So you probably weren’t financially able to buy one of the suites in the first place if you were actually interested. You needed to be in the top fraction of the 1 percent to be able to easily afford it.
Per Al.com, the 10 suites have each been sold for $5 million each. Yes, a five with six zeros following it.
The 10 Founders suites sold for $5 million apiece with 4-seat loge boxes requiring a $150,000 donation on top of $16,000 annual contributions. The initial contribution can be spread out over five years.
After the demolition is complete, work will begin on the stand-alone structure that will house the backend of those new club levels. It will extend beyond the current footprint of the stadium and will overhang Wallace Wade Avenue, which will also close for the duration of construction.
On Monday, Alabama will start work on the first phase of the $92.5 million Bryant-Denny Stadium renovation.
The first phase includes the addition of 10 Founders Suites.
The suites sold for $5 million each, according to @aldotcom. pic.twitter.com/iVgmzmrCrB— Front Office Sports (@frntofficesport) November 22, 2019
Props to Alabama for getting the money for the suites. That money is helping fund the $90-plus million renovations to the stadium. But it’s also further proof that the current college athletic model is inching closer and closer to irrelevancy. Schools can’t continue to ask and receive millions from their donors while athletes can’t capitalize on their name and image rights.
The $5 million it costs for the long-term rights to one Founders suite at Alabama is as much or more than all but 13 coaches in college football made in 2019, according to USA Today’s coaching salary database. Alabama coach Nick Saban is, of course, one of the coaches making more than $5 million. He’s second on the list with an $8.7 million salary for this year.
Alabama’s final home game of the season is Saturday against Western Carolina. The stadium renovations are set to be complete in time for the 2020 season. Alabama’s first home game next year is against Georgia State on Sept. 12 as the Crimson Tide opens the season in Arlington, Texas, vs. USC on Sept. 5.
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Nick Bromberg is a writer for Yahoo Sports
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