Penn State Surpasses $60 Million in Donations for Beaver Stadium Renovation

Playfly, Penn State's new multimedia rights partner, donates $5 million to the Beaver Stadium project.

A rendering of the proposed $700 million renovation of Penn State's Beaver Stadium, which is scheduled to be completed in 2027. / Courtesy Penn State Athletics

Penn State announced the latest eight-figure donation to the Beaver Stadium renovation project, a $5 million contribution from Playfly, the athletic department's new multimedia rights partner. Penn State also said that it has fundraised $60.25 million for the planned $700 million renovation, whose substantial work begins after the 2024 Penn State football season.

“We are very grateful for Playfly Sports and their commitment to Penn State Athletics, not just as our [multimedia rights] partner, but in this important project for our department and University,” Penn State Athletic Director Pat Kraft said in a statement. "As a Pennsylvania-based company, Playfly Sports understands the economic and cultural significance Beaver Stadium and Penn State Football hold in our community, region and state. Their generosity will have a lasting impact on all 31 of our sports programs as these renovations play a critical role in increasing revenue to support all of Penn State Athletics.”

Penn State in January announced a 15-year deal with Playfly, a Berywn-based company founded in 2020, to operate its multimedia athletic rights. The deal included "fan engagement, content creation, premium game day programming, and the development of new partnerships, events and experiences, and fan data activations," Playfly said in a news release. Playfly also said that it would introduce "new media and technology offerings, including creating a podcast network, establishing membership-based services for fans, and activating around Penn State Athletics’ highly sought-after game day experience."

In July, Playfly and Penn State expanded the deal to include a Name, Image and Likeness component. Playfly created Playfly Max, an NIL arm that it said would realize "untapped revenue opportunities that have been underdeveloped in college sports and that have only been enhanced by the advent of NIL." Playfly this week announced Morgyn Seigfried, who worked on Kraft's athletics staff at Temple and recently served as director of athlete relations for the recruiting site On3, as thegeneral manager of NIL for Playfly Max at Penn State.

“The early years of the college NIL era have made it painfully clear to the industry that nothing replaces the ability to sell brand partnerships effectively or to actually generate new revenue streams," Christy Hedgpeth, president of Playfly Sports Properties, said in a statement announcing the creation of PlayFly Max. "A professionalized, dedicated, and strategic approach is required to maximize today’s commercial opportunities, and that’s the distinct advantage Playfly Max offers schools and student athletes alike. “The beauty of Playfly Max is it is specifically designed to be fully flexible, so it can add value to any school and/or collective and readily adapt to the ongoing change we’ll continue to see in college athletics.”

Playfly's donation likely will involve a suite in the renovated Beaver Stadium when the project is complete in 2027. Penn State has announced five eight-figure donations, including an initial $25 million contribution from Anthony Misitano and PAM Health. Ira Lubert, a major Penn State donor and former Board of Trustees chair, contributed $10 million, which secured naming rights to the Lubert Family Welcome Center at Beaver Stadium. Two other donors made $10 million contributions anonymously.

Penn State's $700 million Beaver Stadium renovation addresses major infrastructure and maintenance needs, of which university officials said there's a $200 million backlog. That includes winterizing the stadium, necessary to host a College Football Playoff game; repairing or replacing aging steel supports, concrete sealing and coating; upgrading electrical facilities and increasing commercial kitchen space. Kraft has said that Beaver Stadium will be "ready to go" for a possible home playoff game in December.

The project's scope widens after the 2024 season, when Penn State will begin demolishing and replacing Beaver Stadium's West side. First, the press box and upper deck of the West stands will come down in 2025. Penn State will replace the lower bowl in 2026. The West side will house club seats, loge boxes and suites, the Welcome Center and about 47,000 square feet of event space.

“We have only begun to scratch the surface of the opportunities this relationship between Playfly Sports and Penn State Athletics will generate,” Hedgpeth said in a statement announcing the donation. "The Beaver Stadium Revitalization project, spearheaded by Pat [Kraft], proves the deep commitment the athletics department has for its student-athletes, alumni, donors and fans, and we at Playfly couldn’t be more thrilled to be a part of it.”

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