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SDCCU Stadium Agreement Advances To San Diego City Council
Thursday, July 26, 2018
Credit: Milan Kovacevic
The San Diego City Council's Smart Growth and Land Use Committee Wednesday advanced without recommendation an agreement between the city and San Diego State University for the Aztecs to continue playing football at SDCCU Stadium.
City staff were instructed to engage in further negotiations with SDSU before the City Council considers the agreement Aug. 6. They're also expected to provide additional details on stadium-related finances and further revenue opportunities.
The proposed agreement would commence in January 2019 and extend through December 2020.
Under the agreement, the city would receive $1.1 million per year from SDSU as well as net parking and concession revenues, which totaled $733,485 in fiscal year 2018. SDSU would also reimburse the city for game-day expenses, as the university does under the current agreement expiring Dec. 31.
The city doesn't receive a flat rate under the current agreement. Instead, it receives a $1 ticket surcharge, which totaled $154,000 in fiscal year 2018. SDSU also currently retains net parking and concession revenues.
Increased revenue under the new agreement still wouldn't make the stadium profitable for the city, which ran a projected deficit of $4.6 million in fiscal year 2018 and $4.4 million in fiscal year 2019 operating the facility.
"I'm in support of negotiating and trying to figure out if we can get a better deal with San Diego State," City Councilwoman Georgette Gomez said.
San Diego State's Director of Athletics John David Wicker said the proposal makes sense for both parties.
"We want to make sure that city leadership is getting what they feel is the cost of playing there," Wicker said. "Again, we play seven days a year so that leaves 358 days a year that the city can go out and bring other events to the stadium to bring more revenue."
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