VCU to Host Concerts at Siegel Center to Help Fund Athlete Compensation
VCU is preparing to transform the Siegel Center into a hub for concerts and ticketed events as a creative way to generate revenue to support student-athlete compensation, according to a report from the Richmond Times-Dispatch.
Why It Matters
This move positions the Stuart C. Siegel Center as the largest indoor concert venue in Richmond, filling a significant gap in the city’s entertainment scene since the Richmond Coliseum closed in 2019.
The Bigger Picture
Following a major decision by the NCAA and the Power Five conferences to allow schools to pay athletes directly, universities across the country are now searching for ways to cover those costs. VCU estimates it will need roughly $5 million annually to fund athlete compensation.
Hosting events at the Siegel Center is one of VCU’s primary strategies to meet that financial need. The university expects to hold around 30 events per year — including concerts, private gatherings, and family-friendly shows — which could generate about $650,000 annually toward the athlete compensation fund.
A Venue with a History
Concerts at the Siegel Center are not new. Since opening in 1999, the arena has hosted stars like Drake, Sheryl Crow, Dave Matthews, Ludacris, and Trey Songz, along with major political figures such as President Obama and Hillary Clinton during their presidential campaigns.
However, the arena hasn’t held many public, non-sporting events in recent years, aside from high school graduations.
A Venue Landscape Shift in Richmond
With the 13,000-seat Richmond Coliseum now closed, Richmond has been without a major indoor concert venue. The Siegel Center, at 200,000 square feet, seats just over 7,600 for basketball and approximately 5,500 for concerts when one end is blocked off.
Other indoor venues pale in comparison:
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Altria Theater: ~3,500 seats
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Dominion Energy Center: ~1,800
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The National: ~1,500
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The Broadberry: ~500
Outdoor venues still offer more capacity:
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Brown’s Island: ~16,000
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Upcoming amphitheater: ~7,500
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Virginia Credit Union LIVE!: ~6,000
What’s Next
Starting July 1, VCU will team up with ASM Global, a leading venue management company, to oversee booking and events at the Siegel Center. ASM Global also manages Altria Theater, Dominion Energy Center, and the Henrico Sports & Events Center, bringing deep expertise to the effort.
This partnership marks a bold new chapter for VCU and the Richmond entertainment scene — one that could benefit both the university’s athletics program and the city’s cultural landscape.
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