UNLV Rebels to Get About $2 Million from the Authority of Las Vegas Stadium
The UNLV Rebels’ recent football triumph over the Nevada Wolf Pack, capped off by offensive lineman Leif Fautanu pulling the Fremont Cannon at the Allegiant Stadium, could not mask the fiscal shortfalls that the season had seen. Despite this victory, they faced a revenue shortfall for the 2022 football season, but an agreement with the Raiders ensures they are set to receive nearly $2 million from the Las Vegas Stadium Authority.
Addressing the Revenue Shortfall
As per their joint-use agreement with the Raiders for playing at Allegiant Stadium, UNLV will be compensated by a waterfall fund for any net income under $5 million generated in a fiscal year from their games. The Las Vegas Stadium Authority board is expected to approve this $1.98 million payment to cover the shortfall, utilizing part of the $3.5 million available annually for the first decade of Allegiant Stadium’s oper
The $5 Million Benchmark
The $5 million income benchmark was established by RubinBrown LLP in January 2022, based on UNLV’s 2016 net income from events at their former venue, Sam Boyd Stadium, which UNLV is no longer permitted to use for hosting events. Despite this, they managed to report a net income of $3.02 million from six home games in fiscal year 2023, with an attendance of 80,419 fans. This led to their eligibility for the payout.
Season Recap
The Rebels finished the season with a 5-7 record, including 4-2 at home. Despite the fiscal challenges, the team’s performance on the field, especially their victory against the Nevada Wolf Pack, has instilled hope and excitement among fans for the upcoming seasons. The payout from the Stadium Authority will be a significant boost in addressing the revenue shortfall and fortifying the team’s financial status for the future.
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