A bill that would create a new corporation to manage the Aloha Stadium, with hopes of generating more revenue for the University of Hawaii, is going through the Legislature.

It's an idea that was first proposed nine years ago, by June Jones.

Proponents of the bill say this new business model would bring in more profits for the University as well as for the state.

"The UH brand is worth a lot of money right now," said Rep. Mark Takai, (D) Newtown, Waiau, Pearl City.

Representative Mark Takai says the Aloha Stadium could generate a lot more money if it operated, maintained and managed by a University of Hawaii affiliated corporation, riding the momentum generated by this past UH Warriors season.

"The problem with the current model is there's no value for the university because they don't share on the revenue generated," said Takai.

Under the new business model, the University of Hawaii Stadium Corporation would be created to manage the Aloha Stadium, replacing the current Stadium Authority.

The new corporation would be led by an eleven member Board of Directors, one member being the UH President, five appointed by the Board of Regents, and the other five appointed by the Governor.

The state would still own the Aloha Stadium.

"This is our moment to move forward in thinking are there different models that would work better to generate revenues," said UH Manoa Chancellor Virginia Hinshaw.

Takai suggests corporate skyboxes.

"The University of Hawaii would draw the corporate clients in not the stadium," said Takai.

But opponents of the bill say the new model won't work.

"I don't see UH has any special expertise in stadium management. They're an educational organization and they would have to acquire the same knowledge and experience that we in the existing Stadium Authority have spent the time and energy to obtain," said Ken Marcus, Stadium Authority Vice-Chair.

The UPW and HGEA unions don't support the bill either.

"Any bill that would now or in the future affect collective bargaining members we can't support," said the UPW spokesperson.

Last year, the Aloha Stadium generated a little over $9M, nearly $7M of that went towards expenses such as salaries, special duty police officers, and electricity.

State Comptroller Russ Saito says the top priority right now should be repairs and renovations to the stadium.

"If run properly this new corporation can pay for future maintenance," said Tony Guerrero, Warriors Booster Club Chairman.

"Maintenance is going to be an issue for the Legislature and the state whether or not we stay with the current operations under the Stadium Authority or change to the new corporation," said Takai.

Following the two hour hearing this afternoon, the measure was adopted, with amendments. It now moves on to the Finance Committee.