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A Beaver Stadium rebuild or renovation? Penn State officials make their decision ...

Penn State officials apparently have made their final decision about the future of Beaver Stadium: They will renovate rather than rebuild.

As expected, economics are steering the future work, even without any specific financial figures available yet, according to a university press release. It appears to be realistic only to further modernize and provide some sort of structural facelift to the 63 year-old stadium.

Nevertheless, no part of this future work will be funded by tuition, student fees "or any of our educational budget,” Penn State president Neeli Bendapudi said in a Friday afternoon statement.

James Franklin's Penn State football team will open its highly-anticipated 2023 season with home games against West Virginia (Sept. 2) and Delaware (Sept. 9).

The renovation plan is still being finalized and must be brought before the university's board of trustees for a vote in the near future − though officials hinted that the future work could make the stadium more conducive to hosting non-football events.

"Penn State has some of the most dedicated and loyal fans in the world and they deserve a facility that has upgraded amenities and improved circulation around the facility to enhance the fan experience," Bendapudi said. "It is my commitment that we will do what we must to preserve one of our most iconic spaces in the most economical way possible."

In December, athletic director Pat Kraft Kraft said the athletic department has conducted 19 studies over the past decade regarding the stadium's future − including whether to renovate or rebuild.

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Discussion about Beaver Stadium's future has been ramped up since 2017, when athletic department officials announced a 20-year facilities master plan, that included a potential stadium renovation rendering. Earlier this year, university officials surveyed season-ticket holders and others for feedback on the stadium's future.

"I make no bones about it: I love this building," Kraft said during a Rose Bowl media day event in State College. "I love coming in this building, I love the history of this building. When I walk the parking lots and I talk to people about having generations of memories in the building, I want to make this building better, and we have to do that."

Penn State officials pointed out that the annual economic impact in Centre County for football visitor spending is estimated at $87 million, according to a 2022 study commissioned by Happy Valley Adventure Bureau.

Beaver Stadium is the second-largest in college football with an official seating capacity of 106,572, behind only Michigan (107,601).

Frank Bodani covers Penn State football for the York Daily Record and USA Today Network. Contact him at fbodani@ydr.com and follow him on Twitter @YDRPennState.

This article originally appeared on York Daily Record: Penn State football: Beaver Stadium future set with James Franklin