The big thing with a new pressbox (similar to K-State, Texas Tech, Minnesota, etc.) isn't really the press space, but the Athletic Director's ability to sell more premium space (suites, club seats, loge boxes, etc.) to corporations. Product on the field or not, a business having a presence like that in a venue where 61,000 potential customers are in a confined space can be a very good business decision, and in return, a money-maker for a university, if the commitment is available up front.
Cadillac didn't build their new endzone club at KU because of the product on the field, but rather, to get eyeballs from the 20k in the stadium. Down the road from Lawrence, K-State built their new West Stadium Center (suites, club seats, and press row) because they know they only have a few years left of Snyder and needed to find as many revenue sources as possible to sustain success when he is no longer coaching. Donors lined up once the plan was in place and John Currie began fundraising.