UNLV scheduled to receive nearly $2M for football revenue shortfall
UNLV is scheduled to receive nearly $2 million from the Las Vegas Stadium Authority to make up for a revenue shortfall tied to the university’s 2022 football season.
The planned $1.98 million payment is part of UNLV’s joint-use agreement with the Raiders for playing at Allegiant Stadium, which notes that any net income under $5 million generated in a fiscal year would be paid for by a waterfall fund set up to incur such costs. The Las Vegas Stadium Authority board of directors is expected to vote on the payment at Thursday’s meeting.
Up to $3.5 million is available each year for the first 10 years of Allegiant Stadium being in operation to cover a revenue shortfall for UNLV games.
The $5 million figure was set by outside firm RubinBrown LLP during a January 2022 stadium authority meeting based on the 2016 net income UNLV received for football and non-football events at Sam Boyd Stadium. Under the stadium agreement, UNLV is not allowed to host events at Sam Boyd Stadium.
UNLV reported a net income in fiscal year 2023 (July 1, 2022-June 30, 2023) of $3.02 million, making the university eligible for the $1.98 million payout.
The six 2022 UNLV games drew 80,419 fans at Allegiant Stadium, according to stadium authority records. The Rebels went 5-7 (4-2 at home).
Contact Mick Akers at makers@reviewjournal.com or 702-387-2920. Follow @mickakers on X.