The Foo Fighters rock band had recently announced that they would be playing at the Huntington Bank Stadium next summer on the University of Minnesota campus in Minneapolis. However, they abruptly pulled out of the deal, saying that the university wouldn’t meet the band’s Covid-19 protocols. Foo Fighters also recently made an offer to a popular bassist.
Foo Fighters had a huge deal with the University of Minnesota
The band wanted to require proof of vaccination or negative Covid-19 test results for ticket holders to attend the show. According to a university website, neither masks or vaccines are required at events such as Gopher football games, though masks are encouraged.
As a result, the university will miss out on hundreds of thousands of dollars in revenue. The Business Journal had submitted a records request to the university for the now-canceled contract. The 17-page contract outlines some interesting financial components of the deal.
It stated that The Foo Fighters would’ve paid the U a $150,000 rental fee for the stadium, but the band will get most or all of that money back because it canceled so quickly, according to the agreement.
The U would have also received all revenue from concessions (food, snacks and alcohol) and parking. A typical light beer costs almost $10 at Gopher football games, and the U was expecting 40,000 people to attend to the concert, according to the contract. That’s roughly $400,000 in beer sales alone if everyone had one beer at that price and that figure doesn’t include parking revenue or other concession sales.
It further stated that:
- The University would’ve received $4 for every ticket sold. That would have potentially generated $160,000.
- The University would have also received half of the revenue from suite sales, but it’s difficult to project the revenue since pricing was not determined, according to a U official.
- The University would’ve received one free suite or luxury box and 100 free tickets. Also, the University would’ve been able to purchase 1,500 tickets to give to donors.
On the costs side, the band was on the hook for a slew of expenses. The bank would’ve been responsible for an estimated $420,000 in day-of costs, including roughly $220,000 for security-related line items.
On Monday, the rock band announced it agreed to perform at U.S. Bank Stadium instead. U.S. Bank Stadium will not mandate masks, but will require either proof of vaccination or negative test results for attendees to the concert, which is scheduled for Aug. 3, 2022. Tickets are set to go on sale Friday.