One of the Major issues for the football program in the past is the cost of Leasing PGE from the city. I was having a discussion with one of the coaches a few years back and learned that because attendence was so low, the Athletic Department was loosing money on the football program because ticket revenues were less than the cost of leasing the park.
I think the ultimate fix would be for the City to sell PGE to PSU and allow PSU to lease it out to concerts and random sporting venues that come to town. This is just a pipe dream and Im sure PSU does not have the money for this currently but 5 years or so of success and increased attendence could change that.
Even better would be if the public stadium drastically cut its lease rates to a public university, allow the Athletic Department to keep more of the game proffits to reinvest into athletics. Its 5 nights a year the stadium does not need to profit from the venue.