UNIVERSITY OF MICHIGAN

May 19th, 2019 | by CollegeAD
UNIVERSITY OF MICHIGAN
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The University of Michigan’s athletic department collected more than a million dollars less from last summer’s International Champions Cup soccer match at the Big House than it did for the inaugural ICC showcase in Ann Arbor four years prior. Michigan’s athletic department collected $1.4 million from the match per its contract with the ICC’s organizer, New York City-based Relevent Sports LLC that’s owned by UM alum and billionaire Stephen Ross. Half of the $1.4 million collected by UM ($756,575) for the 2018 game was expense reimbursement and $500,000 was from the license fee to use the football stadium. The final $169,531 was Michigan’s share of ticket sales. The department was to get $1 million if total ticket sales reached $9.4 million, but records show they failed to reach that threshold. UM would have received 30 percent of any further ticket revenue after $9.4 million. Records show that the match generated $98,165 in premium hospitality sales and $122,700 from parking. Match-day concession sales were $243,304 and merchandise sales were $32,353. That money was collected by Relevant. -Bill Shea, crainsdetriot. Read More.

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