More than 800 chief financial officers, business officers, senior administrators, chancellors, presidents, C-level executives, general counsels and other higher education officials attended the 2018 P3 Higher Education Summit in San Diego, Sept. 12. The conference provided forums, speakers and panels examining higher education infrastructure challenges faced nationwide—innovations in project delivery, procurement, asset management and technology—for the delivery of successful P3 initiatives.
Panelists for the program “P3 Sports and Multi-Purpose Venues on Campuses,” examined the opportunities for the development, financing and operation of Sports and Multi-Purpose Venues through public-private partnerships on University and College Campuses. The panel examined how P3 projects originate; the process from the Universities’ perspective; challenges and risks; as well as what protections Universities look for from the private side. Panelists also discussed opportunities that the private sector brings to these facilities and legal challenges in balancing interests in P3 projects of this type.
Denis Braham, Co-Chair for the University Industry Group and Sports Business & Public Venues Industry Group at Winstead PC, moderated the exchange among the industry experts:
Dona Cornell, Vice Chancellor, VP for Legal Affairs and General Counsel, University of Houston
Dan Shell, President, Oak View Group/OVG Collegiate
David Staas, Shareholder, Sports Business & Public Venues Industry Group and University Industry Group, Winstead PC
Setting the Stage
Privatization or the semi-privatization of multi-use public facilities is not a new topic. Beginning in the late seventies, the process migrated in the late eighties and nineties to the professional sports realm, operating as team-controlled, privatized facilities maximizing and monetizing revenue streams. Fast forward to this decade and it has moved into the collegiate arena. P3 has a broad definition depending what a school is looking for and what opportunities are available. Continue Reading