Posted: 7:31 p.m. Tuesday, Aug. 20, 2013
By David Fucillo
The San Francisco 49ers will be moving into their new stadium next summer, and while football is the most important thing going on at Levi's Stadium, there will be so much more. The 49ers get to keep significant chunks of football revenue, but aspects of non-football revenue will belong to Santa Clara. Accordingly, they are working to get numerous concerts, sports and other entertainment events at the stadium.
One such event could be Wrestlemania 31 in 2015. The San Jose Mercury News is reporting that Santa Clara is a finalist (reportedly along with Philadelphia) for "the grand-daddy of them all". Mike Rosenberg is reporting that the Santa Clara mayor is headed to Stamford, CT to pitch the stadium to WWE chairman Vince McMahon. The report indicates Jed York and city leaders already spoke with WWE officials visiting Santa Clara.
The 49ers new stadium is already host to Super Bowl 50 in 2016, so it would only be fitting to precede it with the biggest event in professional wrestling. I don't know how much the 49ers would be involved, but based on the what I saw in the stadium lease, the stadium authority gets much of the revenue from non-NFL events, although I think the 49ers get the right to sell the suites. I'm not positive, so feel free to read Articles 12.8 and 12.9 discussing Stadium Authority Revenue as it relates to Non-NFL Event Revenue:
12.8 Non-NFL Event Revenue. Stadium Authority Revenue for each Lease Year shall include all Non-NFL Event Revenue for such Lease Year, including (a) all revenues from the sale of Tickets for Non-NFL Events conducted during such Lease Year, and (b) all revenues received by the Stadium Authority from the promoter or other sponsor of any Non-NFL Event conducted during such Lease Year, including such amounts paid by the promoter or other sponsor for the right to use and occupy the Stadium for such Non-NFL Event; provided, however, that (i) Tenant shall have the sole and exclusive right to market and authorize the right to occupy Suites for Non-NFL Events upon purchase of Tickets for such Non-NFL Events, and the premium charged, if any, by Tenant to occupy such Suites for Non-NFL Events (i.e., above the cost of the Tickets) ("Suite Premium Revenue") shall constitute Tenant Revenue; and (ii) if the Stadium Authority exercises the Stadium Authority Put Right as provided in Paragraph 5.1 above, then, effective as of the Tenant Season Expansion Date, and continuing through the remainder of the Lease Term, all Non-NFL Event Revenue shall constitute Tenant Revenue.
"Non-NFL Event Revenue" for any Lease Year means all revenues received by the Stadium Authority (or, following the Tenant Season Expansion Date, Tenant) from Non-NFL Events conducted during such Lease Year. In addition to the amounts specified in clauses (a) and (b) of this Paragraph 12.8, and without otherwise limiting the foregoing, Non-NFL Event Revenue includes:
(i) all Concession Revenue from Non-NFL Events,
(ii) all Non-NFL Event Advertising Revenue,
(iii) all Stadium Authority Parking Revenue from Non-NFL Events, and
(iv) if the Stadium Authority exercises the Stadium Authority Put Right as provided in Paragraph 5.1, then, effective as of the Tenant Season Expansion Date, and continuing through the remainder of the Lease Term, Tenant Parking Revenue from Non-NFL Events.
Notwithstanding the foregoing or any other provision of this Lease, the following shall be excluded from Non-NFL Event Revenue:
(1) the proceeds of the Non-NFL Event Ticket Surcharge;
(2) Suite Premium Revenue;
(3) Stadium Naming Rights Revenue and SBLs Revenue, including any portion of Stadium Naming Rights Revenue or SBLs Revenue that may be calculated on the basis of, or that otherwise may be attributable to, Non-NFL Events;
(4) revenues received by Tenant from the Stadium Commercial Areas, including any incremental increase in revenues from the Stadium Commercial Areas that may be attributable to Non-NFL Events; and
(5) NFL Advertising and Sponsorship Revenue, including Stadium Components Sponsorship Rights Revenue, that may be calculated on the basis of, or that otherwise may be attributable to, Non-NFL Events.
Notwithstanding any provision hereof, for purposes of calculating Performance-Based Rent under the Ground Lease, Non-NFL Event Revenue shall exclude any parking revenues derived from the parking structure being constructed by City at Centennial Boulevard and Tasman Drive (City Project No. CE 10-11-11) (the "Tasman Drive Garage").
12.9 Non-NFL Event Advertising Revenue. Stadium Authority Revenue shall include in the Lease Year received by the Stadium Authority all Net Revenues received from the sale of Non-NFL Event Advertising Rights ("Non-NFL Event Advertising Revenue"); provided, however, that if the Stadium Authority exercises the Stadium Authority Put Right as provided in Paragraph 5.1 above, then, effective as of the Tenant Season Expansion Date, and continuing through the remainder of the Lease Term, all Non-NFL Event Advertising Revenue shall constitute Tenant Revenue.