REPORT TO STADIUM AUTHORITY BOARD
SUBJECT
Title
Informational Report on Planning for the College Football Playoff National Championship at Levi's Stadium on January 7, 2019 (Stadium Authority)
Report
BACKGROUND
As announced in November 2015, Levi's Stadium will host the College Football Playoff (CFP) National Championship on January 7, 2019. CFP events in both Santa Clara and San Jose will begin January 4, culminating with the game at Levi's Stadium.
The Forty Niners Football Company LLC (Forty Niners) incorporated the Bay Area Host Committee (BAHC) in January 2018 to take on the rights and obligations of this event. As a California nonprofit mutual benefit corporation (501(c) (6), the BAHC cannot operate with a deficit. The Forty Niners have agreed to be the Third Party Guarantor to backstop any shortfall associated with the event including pre- and post-event expenditures. Santa Clara Stadium Authority (SCSA) staff and Forty Niners Stadium Management Company (ManCo) staff negotiated terms for the Assignment and Assumption Agreement (Agreement) that meet the parties' mutual goal to ensure no financial losses to SCSA. Per the terms of the Agreement, as approved by the SCSA Board on July 17, 2018, BAHC will:
1. Pay for all CFP-related expenses for all actual public services/workforce costs (including Non-Game Day, and all pre-, during- and after-event costs), and up to double-time pay for public safety costs on event day if there are not sufficient staff supporting public safety activities signed up 60 days prior to game day.
2. Share any net revenues with SCSA, if applicable.
3. Provide (i) a complete accounting of all revenue and expenses, and possession of both soft- and hard- copy supporting documentation, for the CFP event and (ii) BAHC's annual financial audits for the fiscal years that contain Stadium Authority related expenses to the SCSA Executive Director.
DISCUSSION
In preparation for the CFP National Championship, ManCo and SCSA staff are current...
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