REPORT TO STADIUM AUTHORITY BOARD
SUBJECT
Title
Action on an Agreement with The Pun Group, LLP for Auditing Services for the Santa Clara Stadium Authority for the 2019 College Football Playoff National Championship [Board Pillar: Ensure Compliance with Measure J and Manage Levi's Stadium]
Report
BACKGROUND
The Bay Area Host Committee ("the Committee") is a nonprofit corporation founded to serve as the local organizing committee focused on bringing large scale events to the Bay Area that drive economic vitality. Through an Assignment and Assumption Agreement, the Committee managed the College Football Playoff ("CFP") to promote, organize, and execute the 2019 College Football Playoff National Championship and its related events. In July 2018, the Committee entered into an Assignment and Assumption Agreement with the Forty Niners Stadium Management Company, LLP to host the January 7, 2019 CFP National Championship Game ("the Game") and ancillary events associated with it at Levi's Stadium. The Assignment and Assumption Agreements contained the following record rights for the Santa Clara Stadium Authority:
"Assignee agrees to provide an accounting of the Game as follows: (1) Assignee shall provide to the Stadium Authority Executive Director an Initial Accounting to be completed by June 30, 2019 consisting of a profit and loss statement of the Game and possession of all hardcopy and softcopy supporting documentation and such additional information as may be necessary to confirm the information set forth in such profit and loss statement; (2) Assignee shall provide the Stadium Authority Executive Director with an annual audit of its financial statements by a recognized third-party accounting firm and it shall provide a copy of the audited financial statement for the fiscal years that include Stadium Authority related activity."
The Committee provided a copy of the audited financial statements and all the supporting documents relating to the Game to the Stadium Ex...
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