For some reference on costs and impact, UB completed a mix of minor renovation and fan experience upgrades 2 years ago for $5M+, very much like you are thinking of, which contributed greatly to a noticable increase in average attendance to the tune of 1000/game: http://www.buffalo.e...i_upgrades.html
The sound, lighting and structural work was funded through the university’s critical maintenance budget [structural work on the arena's ceiling cost $1M]. The $2.4 million cost of the video scoreboard, end-zone scoreboards, courtside tables and control room was financed with private donations.
I feel like they would need to raise the height of the roof at SEFCU to accommodate something like that.