Santa Clara Scores a Touchdown with 2019 College Football Playoff National Championship
Santa Clara Stadium Authority’s approval of an agreement between the Forty Niners Management Company and the Bay Area Host Committee covered expenses and safeguarded against negative fiscal impact
FOR IMMEDIATE RELEASE: Wednesday, January 9, 2019
CONTACT: Lenka Wright, Director of Communications, 408-615-5515 or email@example.com
SANTA CLARA, Calif. – Hosted at Levi’s® Stadium, the 2019 College Football Playoff (CFP) National Championship had rain-free weather and enthusiastic Alabama and Clemson fans for the game held in Santa Clara on Monday, Jan. 7. Starting last Friday, Jan. 4, there were a series of events held in both Santa Clara and San José to lead up to the championship game, which was televised by ESPN to a national audience.
According to media reports, the Bay Area Host Committee (BAHC), a nonprofit mutual benefit corporation, is expected to lose between $8-12 million for hosting the event whereas the economic impact to the region through hotel stays, restaurant visits, retail spending and more is unknown at this time. While the financial returns from CFP are still being calculated, the Santa Clara Stadium Authority (Stadium Authority) will have all CFP-related expenses, such as public safety, fully reimbursed. That’s due to the Stadium Authority approving an Assignment and Assumption Agreement between the Forty Niners Stadium Management Company and the BAHC on July 17, 2018. The agreement passed along all financial risk to the BAHC which is affiliated with the San Francisco 49ers.
“Having the College Football Playoff National Championship in Santa Clara was a win,” said Stadium Authority Board Chair/Santa Clara Mayor Lisa M. Gillmor. “Knowing that millions of dollars of public money were at stake by hosting this event, the Board successfully negotiated an unprecedented agreement with the Bay Area Host Committee and the San Francisco Forty Niners to cover all of our costs and allow us to share in the net revenue.”
In addition, through the agreement, BAHC will:
- Pay for all CFP-related expenses 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;
- Provide a complete accounting of all revenue and expenses, and possession of supporting documentation for the CFP event and BAHC’s annual financial audits for the fiscal years that contain Stadium Authority-related expenses.
For CFP, the Stadium Authority decided against absorbing the magnitude of the projected loss through City subsidies.
In 2018, the Atlanta CFP game resulted in local subsidies of approximately $12-14 million.
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.