Nebraska Athletics may have more money coming in if a couple items are approved at the next Nebraska Board of Regents meeting.
Nebraska will seek approval for alcohol sales at Pinnacle Bank Arena and a new multimedia rights agreement with Playfly Sports Properties LLC. Playfly has offices across the country, including Chicago.
The regents are set to meet Friday, Sept. 30.
If approved, alcohol sales at PBA would begin with the start of Nebraska men’s and women’s basketball seasons. Alcohol was allowed at the Big Ten Wrestling Championships at PBA in the spring, where sales reached $350,000.
The City of Lincoln, which owns PBA and operates concessions at the arena, would receive 90 percent of the net revenue. UNL would get 10 percent, minus the cost of goods sold at UNL events.
There is no mention of sales at Memorial Stadium, Bob Devaney Sports Center or Haymarket Park. Those venues would likely be addressed in the future.
The MMR agreement with Playfly would be for 15 years, beginning with a nine-month transition Oct. 1, 2022. The deal is valued at over $300 million including $273.6 million of guaranteed revenue payments.
“We are pleased for the opportunity to work with Playfly as our multi-media rights partner over the next 15 years. In our discussions, we quickly found they will be a true partner who shares the same level of commitment and passion for collegiate athletics as Nebraska,” said Trev Alberts, Vice Chancellor and Director of Athletics at Nebraska. “They are a growing company who is innovative, creative, and ready to adapt to the evolving collegiate athletics environment.
“We are excited this agreement will continue to help Nebraska Athletics provide resources to support our student-athletes.”
Other financial terms in the deal include:
- $7.5 million of signing bonuses
- $6.5 million in royalties (estimated)
- $6.0 million in capital investments
- $5.5 million digital suite (web/app)
- $2.25 million for NIL fund
“Nebraska is one of the premier athletic programs in the country, and we are honored that Trev Alberts, his staff, and the university have entrusted us with such an important element of their future growth and success,” said Christy Hedgpeth, President at Playfly Sports Properties. “Playfly is incredibly energized to support the Huskers with innovative marketing and media solutions that seek to improve the experience of Nebraska’s student-athletes, fans, and alumni across the state and throughout the country.”
In the spring, Nebraska walked away from an MMR deal with JMI Sports. That agreement would have been worth a guaranteed $200 million over 12 years.
Nebraska will also seek approval for a waiver for the Memorial Stadium project. The waiver would allow the university to engage a third party to provide program management services and allow plans to develop at a faster rate as private funding is raised.
The full agenda with materials can be viewed here.
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