City Only Receives $55,000 On Average for Each Large Special Event at Levi’s® Stadium
City’s first detailed financial report finds value of non-NFL stadium events to City’s General Fund is limited
FOR IMMEDIATE RELEASE: Monday, October 1, 2018
CONTACT: Lenka Wright, Director of Communications, 408-615-5515 or email@example.com
SANTA CLARA, Calif. – After four fiscal years of financial reporting on non-National Football League (NFL) events at Levi’s Stadium® (e.g., ticketed events and special events), the Santa Clara Stadium Authority now has detailed financial information on the revenue impact of these events for the first time.
The Stadium Authority’s fourth quarter and fiscal year-end financial status report shows the combined revenue from ticketed events, such as concerts, soccer, and non-NFL football games, is having a limited impact on the City of Santa Clara’s General Fund.
According to the latest financial report, these events held at Levi’s® Stadium typically each bring in just over $55,000 on average to the General Fund. The General Fund provides funding for operating functions such as police, fire, parks and recreation, community development, library, and public works.
The value of these events is significantly lower than previous figures reported by the Forty Niners Stadium Management Company (ManCo). In fact, Manco has been consistent in its claim and, as part of advocating for mid-week concerts to go past 10 p.m., 49ers Vice President of Communications Bob Lange reportedly told a local news organization last year, “Concerts have made between $600,000 and $800,000 per concert for the city's general fund since the building opened." The figures don’t show that favorable a return.
Following last year’s Measure J compliance audit and much public discussion on whether the curfew requirement should be removed, the City Council, acting as the Stadium Authority Board, directed City staff to provide greater detail on the financial benefit of ticketed events given ManCo’s claims of the financial benefits to the Stadium Authority and the City’s General Fund. At the Tuesday, Oct. 2 meeting, Stadium Authority board members will review the 2017/2018 financial status report which contains the financial returns of concerts, soccer games, non-NFL football games and small special events at Levi’s® Stadium.
“The Forty Niners Stadium Management Company has repeatedly stated that large non-NFL ticketed events, such as concerts, each generate hundreds of thousands of dollars in revenue to Santa Clara and therefore the City should regularly allow these events to run past the 10 p.m. Sunday through Thursday curfew,” noted Stadium Authority Board Chair Lisa Gillmor, who also serves as Santa Clara’s Mayor. “The numbers from the financial status report don’t substantiate these claims. I am grateful that the Measure J audit, improved financial transparency and community research efforts, led by the Stadium Authority, resulted in greater transparency of the true neighborhood and financial impacts of concerts, soccer and non-NFL football events.”
For the reporting period of April 1, 2017 through March 31, 2018, soccer games and concerts generated more than $5 million dollars for the Stadium Authority. However, these gains mostly covered the losses of non-NFL football games, which showed losses of $3.6 million. The actual trickle-down impact to the City’s General Fund was approximately $700,000 for all 13 non-NFL ticketed events. The report also found that the majority of General Fund revenue is generated through over 100 special events, ranging from corporate events to weddings and holiday parties, held at the stadium. These events brought in approximately $1.7 million to the General Fund and have a minimal impact on neighboring residents’ quality of life.
Earlier this year, the City received a very detailed, statistically valid report of community research that focused on the adjacent neighborhood’s collective opinion of the stadium, as well as collected input from residents citywide and in surrounding cities on stadium activity. Key findings of the community polling were:
- Traffic and parking impacts of the stadium: 78 percent of near neighbors are very or somewhat concerned while nearly three out of 10 Santa Clara voters are very or somewhat concerned;
- Littering, drinking/drug use, and loitering are also concerns; and
- Approximately a third of near neighbors (36 percent) and Santa Clara voters (31 percent) are concerned about noise from events at night.
Due to this new approach to financial reporting combined with past years’ financial reports and recent community research, the Stadium Authority now has pertinent data for determining the value of these events to the General Fund against the value of quality of life to adjacent neighborhoods for future public policy development and decision-making.
The financial status report provides an update on events held at Levi’s® Stadium, Stadium Authority finances and the impact of Stadium Authority activity on the City of Santa Clara. For more information, visit the Stadium Authority website.
About the City of Santa Clara
Located at the heart of Silicon Valley about 45 miles south of San Francisco, the City of Santa Clara truly is “The Center of What’s Possible.” Incorporated in 1852, Santa Clara covers an area of 19.3 square miles with a population of 120,000. Santa Clara is home to an extraordinary array of high-tech companies, including Applied Materials, Hewlett-Packard, Intel, Nvidia, Oracle, and Ericsson. The City of Santa Clara is also home to Santa Clara University, California’s Great America Theme Park, and Levi’s® Stadium, home of the San Francisco 49ers and Super Bowl 50. For more information, go to www.SantaClaraCA.gov.
About the Santa Clara Stadium Authority
Established to provide for the development and operation of Levi's® Stadium, the Santa Clara Stadium Authority exists as a public body, separate and distinct from the City of Santa Clara. The seven elected members of the City Council serve as the governing board for the Stadium Authority. The mayor serves as chair of the Stadium Authority, with the city manager as the executive director and the city attorney as the Stadium Authority’s general counsel. The City is not liable for the debts or obligations of the Stadium Authority.