The Associated Students of the University of Arizona will come out ahead financially after Thursday night’s Kanye West concert, despite estimates that the student government could lose as much as $150,000.
The show, the first in McKale Center in 12 years, is expected to cost up to $521,000, according to figures ASUA President Tommy Bruce provided yesterday. Total funding – including ticket sales and money from ASUA’s special events budget – exceeds expenses by a few thousand dollars, however.
The Daily Wildcat reported Thursday that concert funding would be about $350,000, falling well short of expenses, according to a Feb. 25 contract between the UA and West’s representatives, as well as figures Bruce gave Wednesday night.
Bruce said yesterday that the Daily Wildcat’s estimate hinged on figures misrepresented in the contract and failed to take into account a $400,000 loan ASUA received from the university’s budget office.
$521,271 (an upper estimate)
Estimated expenses from the show
$525,146
Final funding total for the show
$447,655
Amount grossed through tickets sales, including fees
$400,000
Amount of loan ASUA received from the university to put on show
$315,000
Money paid to West and supporting acts Lupe Fiasco and N.E.R.D.
Bruce declined to give the terms of the loan Wednesday night.
“”I never, never, never would put us $150,000 in debt,”” he said. “”I would never be that fiscally irresponsible.””
ASUA received the loan after Bruce gave a series of presentations estimating the costs of bringing in acts like West for a concert, he said.
The state’s ongoing budget crisis, and its consequences for the UA, remained in the back of his mind, he said.
ASUA devoted $64,000 from its special events budget to buttress the loan, which Bruce said has now been fully paid off.
Ticket sales, including fees, totaled close to $450,000, $100,000 more than Bruce estimated Wednesday night.
The remaining $13,500 in funding came from merchandise and marketing grosses.
Bruce said the expense total will go down, as figures for areas including security, catering and custodial services were only estimated as of yesterday and represent “”the worst-case scenario.””
Leftover money will go back into the special events budget, he said.
The show, the first in McKale since Garth Brooks played there in 1996, drew more than 8,000 people.
It was West’s only university stop on his “”Glow in the Dark”” tour, Bruce said, and he believes ASUA’s success in negotiating the show will help the student government bring in top national acts to McKale on a yearly basis.
When asked if Arizona Stadium is being considered as a future venue, he replied, “”Absolutely.””
