Berkeley's Difficulties Paying for Its Stadium

The University of California at Berkeley is struggling to pay the bills on its newly renovated $321 million football stadium, The San Francisco Chronicle reported. A major part of the plan was to sell premium seats, at $40,000 to $250,000 each for use for 40 to 50 years. The university's plan for paying off the debt on the stadium assumed that, by this month, the university would have sold 2,902 of the seats. In fact, the university has sold only 1,857 seats, and 16 purchasers have stopped payments and are giving up their seats.