Regents plan to sell liquor for Husker basketball, Memorial Stadium renovations begin
LINCOLN, Neb. (KOLN) — The University of Nebraska Board of Trustees will have a busy meeting next Friday as the board considers allowing alcohol sales at Nebraska basketball games, the start of the process for renovation of Memorial Stadium and approval of a new $300 million media rights deal.
At the September 30 board meeting in Kearney, an amendment to the University’s operating agreement with Pinnacle Bank Arena will be considered, allowing the sale of alcohol at men’s basketball games and Nebraska Women’s starting this season.
In February, the Board updated the University’s policy on alcohol sales at sporting events, permitting the sale of alcohol at Pinnacle Bank Arena for the Big Ten wrestling tournament.
The City of Lincoln will also be involved, as it owns the Pinnacle Bank Arena.
The proposal before the regents would send 90% of the revenue from liquor sales to the city and 10% to the university.
There are currently no plans to allow the sale of alcohol at Memorial Stadium or Haymarket Park.
The start of the review process for the Memorial Stadium renovations will also be discussed at the meeting.
Previously, sporting director Trev Alberts sent out a survey to Husker fans to gauge what changes could and should be made.
Next Friday, the regents will vote to start the planning process and select a program manager, design team and construction company. This approval would be earlier in the process than normal, but the University says it will allow Alberts and other University leaders to have a “team of experts at their side from day one of what should be a large, very complex and rapidly evolving process. involving private fundraising, design and construction.
Another high point on a packed agenda is the approval of a new media rights deal with Playfly Sports Properties.
The proposal is a 15-year deal that would start Oct. 1 and run until 2038.
The agreement would include:
$273.6 million in guaranteed revenue payments
$7.5 million in signing bonuses
$6.5 million in royalties (estimated)
$6.0 million in capital investments
$5.5 million digital suite (web/app)
$2.25 million for the NIL fund
“The University’s agreement with IMG expired on June 30, 2021. Over the past year, the complexity of transitioning to an internal model, in addition to the changing legal, economic and political environment of collegiate athletics, prompted Nebraska Athletics to carefully consider returning to an external media rights model,” reads a document outlining the agreement.
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