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.

Salman Khan is the renowned International Sports Correspondent for BNN. He uses his experience and ICC qualification to produce in-depth reporting related to the sports industry. He has noteworthy experience reporting major events, such as the Asia Cup in 2022 and the World Cup in 2019. His dedication to sports journalism is evident in the numerous honors he has received for his exceptional work, including the 2021 Emerging Star Award. Salman is a vital member of BNN’s sports journalism team since he uses his extensive knowledge of and enthusiasm for sports to provide a distinctive and interesting viewpoint in his stories.