Like Cajun T said, corporate investment is a must and is being worked on. Also what Ragin9221 said is correct about only being used 5 times a year.
The plan is to bring more events and corporate (private/public) investment. The renovated stadium will be a multi-purpose building with the primary focus on football and UL athletics.
Everyone inside the athletic department is aware of getting away from doing business as usual. They are looking at alternative revenue streams, which must be accomplished if we are to succeed. That being said, some of the change will take time and need infrastructure in place to support the initiatives. Events cannot happen in a vacuum.