Colorado athletic director Mike Bohn spoke publicly today for the first time about the university's plans for the largest athletics facilities upgrade in history in and around Folsom Field.

Bohn said he plans a formal announcement of the “transformational” project in September.

The project has no start or completion dates at this time because it is contingent on working out several avenues of funding, including gathering an unprecedented level of private donations. A portion of the project will be financed against future Pac-12 Conference revenue.

Bohn said if the school cannot gather enough private funding, the project would have to be scaled down and only some of the options being discussed could actually be built.

“It's not a dream, it's not a vision,” Bohn said. “It's a project we're working hard on. It's our No. 1 priority.”

Bohn said the project will include a permanent indoor practice facility that would be used primarily by the football team, but would also benefit many of the other 16 athletics programs in the department.

“Clearly an indoor facility is a need of all our sports programs,” Bohn said. “I think it's fair to say that is a core piece of the vision, but has not been determined where it is, how it fits, how big it is.”

There are numerous steps Bohn and his staff must go through before an announcement can be made. Gathering the funding is at the top of the list.

The CU Foundation is in the midst of conducting a feasibility study related to the project. The study will be completed this summer. Approval also must be given from the Board of Regents, the campus planning commission and the Colorado Commission on Higher Education.

Bohn said he can't provide more specific details of the plan at this time because he doesn't want to “get out in front” of those groups whose approval is required.

Bohn said he is not relying on only one major gift for the project. Colorado has received a total of seven gifts totaling $1 million or more to its athletic department in its history. Two of them have come during Bohn's tenure.

Despite that fact, Bohn said he is optimistic the private funding needed for the project can be raised.

“This isn't an athletic initiative by ourselves in our own little silo,” Bohn said. “I think that's why it's important for us to allow this to be developed and come together rather than speculating about what is in and what's not.”