Major stadium renovation
Bill Martin's lasting legacy has been determined. They're going to rip out the pressbox, replace it with a new one plus 79 luxury suites, widen the seats, widen the aisles, add more bathrooms, and possibly reduce capacity.
I am fine with all of that except the capacity reduction. Michigan should always have the largest stadium in the country, period. They'll be half-enclosing the open bowl with luxury suites... they should add a second deck on the other side, boost the capacity to 120,000, cut prices a bit, and watch Michigan Stadium's reputation go from "tepid" to "impossible to play in."
The best part: no advertising, now and forever. I disagree with a lot Martin has done (largely in regards to the changes at Yost) but if he drags Michigan through to a modernized Michigan Stadium without letting advertising in he'll be the best AD since Yost.
Update: Whoops. As this pdf shows, I misinterpreted the article. There will be press box-type structures on both sides of the stadium, except they'll stick up about three or four times as high as the old press box. Should be great for noise purposes but it'll severely restrict UM's ability to expand the stadium in the future.
Double Update: Check this birds-eye view for a good idea of what they're planning.