The MMR deal is valued at over $300 million
Nebraska Athletics may have more money coming in if a couple items are approved at the next Nebraska Board of Regents meeting.
Nebraska will seek approval for alcohol sales at Pinnacle Bank Arena and a new multimedia rights agreement with Playfly Sports Properties LLC. Playfly has offices across the country, including Chicago.
The regents are set to meet Friday, Sept. 30.
If approved, alcohol sales at PBA would begin with the start of Nebraska men's and women's basketball seasons. Alcohol was allowed at the Big Ten Wrestling Championships at PBA in the spring, where sales reached $350 million.
The City of Lincoln, which owns PBA and operates concessions at the arena, would receive 90 percent of the net revenue. UNL would get 10 percent, minus the cost of goods sold at UNL events.
There is no mention of sales at Memorial Stadium, Bob Devaney Sports Center or Haymarket Park. Those venues would likely be addressed in the future.
The MMR agreement with Playfly would be for 15 years, beginning with a nine-month transition Oct. 1, 2022. The deal is valued at over $300 million including $273.6 million of guaranteed revenue payments.
Other financial terms in the deal include:
- $7.5 million of 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 NIL fund
In the spring, Nebraska walked away from an MMR deal with JMI Sports. That agreement would have been worth a guaranteed $200 million over 12 years.
Nebraska will also seek approval for a waiver for the Memorial Stadium project. The waiver would allow the university to engage a third party to provide program management services and allow plans to develop at a faster rate as private funding is raised.
The full agenda with materials can be found here.
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