REPORT TO STADIUM AUTHORITY BOARD
SUBJECT
Title
Action on the Terms for Assignment and Venue Agreements between Santa Clara Stadium Authority and Forty Niners Stadium Management Company for the College Football Playoff National Championship (Stadium Authority)
Report
BACKGROUND
During the Study Session on April 25, 2018, the Santa Clara Stadium Authority (SCSA) Board requested formal approval of the SCSA's proposed terms for the Assignment and Venue Agreements between SCSA and the Forty Niners Stadium Management Company (ManCo) for the College Football Playoff (CFP) National Championship Game Agreement. CFP events will begin January 4, 2019, in both Santa Clara and San Jose, culminating with the game on January 7 at Levi's Stadium.
CFP announced Levi's Stadium as the host of the 2019 National Championship in November 2015. The Forty Niners Football Company LLC (Forty Niners) incorporated the Bay Area Host Committee in January 2018 to take on the rights and obligations of the 2019 College Football Playoff National Championship. Attached to this report are the Bay Area Host Committee Board of Directors, Executive Committee, and Advisory Committee (Attachment 1); the Advisory Committee for the College Football Playoff National Championship is still in development.
Staff is also providing the Bay Area Host Committee Articles of Incorporation (Attachment 2) to provide the SCSA Board with more complete information of the organization for which this event and obligations will be assigned. As stated, the Bay Area Host Committee is a California nonprofit mutual benefit corporation (501(c) 6) and can not operate with a deficit; the Forty Niners will be the Third Party Guarantor to backstop any shortfall associated with the event. Additional information is still outstanding regarding how funds to backstop the event will flow through this organization (e.g., line of credit, fund infusion, etc.).
DISCUSSION
During the April 24, 2018 Study Session (Attachment 3), Stadium...
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