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Wednesday, December 2, 2009

State Pockets $640K+ From U2 Concert

From yesterday's Charlotte Observer:
According to documents obtained through a public records request, Live Nation, the concert's promoter, paid N.C. State $300,000 to rent Carter-Finley Stadium.

Under the agreement with Live Nation, N.C. State also kept the proceeds from parking ($166,000) and food-and-beverage concessions ($175,858). The concert resulted in a net profit for N.C. State of $641,858 after expenses.

That's a significant one-day haul for a department whose operating budget for 2008-09 was about $39.1 million.

"It's a nice chunk of change," N.C. State athletic director Lee Fowler said. "It's something you'd like to do every year."

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