Penn State Football Team will cost $2.7 billion, according to Forbes magazine, according the Forbes report.
The team is expected to make the announcement on Tuesday, July 24th at a press conference.
The Penn State University is currently working on its second-ever football stadium, which is slated to open in 2019.
The news of the team’s cost was first reported by the Philadelphia Inquirer.
The article stated that the team is planned to begin play in 2021 and be the biggest single contributor to the annual sports cost in the United States.
The first Penn State College Football team, the University of North Carolina, is estimated to cost around $6 billion.
In comparison, the first Penn Stateron was estimated at $6.6 billion and the last Penn State Athletics team, Penn State Basketball, was estimated to be worth around $3 billion.
The average cost of a team in the US is around $25 million, according Forbes.
Penn State’s football team has been successful in many sports.
Penn Stereos Sports and Entertainment, the company that manages the Penn St. football team, is currently the largest private company in the country.
Forbes said that Penn State has won a total of three NCAA Football Championship Subdivision titles, which includes the national championship game in 2007, and was runner-up to Syracuse in 2012.
Penns football team was one of the few college sports teams to have a mascot in the 1960s, with the team known as the Big Blue, which was named after a blue-green color scheme.
The mascot was retired in the 1990s, according.
The last Penn Staters mascot, the Bear, was retired last year.