REPORT TO STADIUM AUTHORITY BOARD
SUBJECT
Title
Authorization to Award a Purchase Order for Stadium Builder Licenses Digitization Services [Board Pillar: Ensure Compliance with Measure J and Manage Levi's Stadium]
Report
BACKGROUND
The Stadium Lease Agreement between the Stadium Authority and Forty Niners SC Stadium Company LLC (StadCo) provides that the Stadium Authority has the sole and exclusive right to sell, license, or transfer Stadium Builder Licenses (SBLs) and similar instruments for the seats located in Levi's Stadium, with the exception of those seats located in, or accessible through, the Suites. Specifically, the relevant Agreement provision reads:
STADIUM LEASE AGREEMENT 4.6.1 STADIUM BUILDER'S LICENSES.
As owner of the Stadium, the Stadium Authority possesses the sole and exclusive right to sell, license, or otherwise transfer SBLs and similar instruments and rights with respect to any and all of the manifested seats located in the Stadium (i.e., seats available and intended for sale to the general public), but excluding seats located in, or accessible through, the Suites. Prior to the Effective Date of this Lease, the Stadium Authority commenced marketing of SBLs and has entered into various SBL Agreements. The Stadium Authority specifically reserves the right to enter into SBL Agreements over the Term of this Lease with respect to any and all seats located in the Stadium, including the right to resell any SBLs that are terminated in accordance with the provisions of the SBL Agreement. Tenant agrees that, in the marketing and sale of Tickets to NFL Games and, following the Tenant Season Expansion Date, Non-NFL Events, Tenant will offer such Tickets to the SBL Holders, as and to the extent provided in the SBL Agreement...
The monitoring, marketing and sales of the SBLs are managed by the Forty Niners Stadium Management Company LLC (Stadium Manager) as required by the Management Agreement between the Stadium Authority and Stadium Manager. Spec...
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