Finance Committee to Review Rose Bowl Budget in Wake of Major Event Cancellations

At this week’s meeting, the City Council’s Finance Committee will receive an update on overhead costs at the Rose Bowl.

The meeting begins at 2 p.m. on Thursday June 11.

“Given the current pandemic RBOC staff has developed multiple financial models to be utilized to determine such matters as anticipated revenues and potential expense reductions,” wrote Rose Bowl General Manager Darryl Dunn in a report to the committee.

The historic stadium has suffered major financial losses due to the cancellation of major events caused by onset of the Coronavirus pandemic, including three sold-out concerts by Korean pop supergroup BTS.

The committee requested the information late last month after a presentation by the Rose Bowl Operating Company made a presentation to the City Council Finance Committee and there were requests made by the committee concerning more detail for RBOC overhead expenses if there were not any major events at the Rose Bowl in Fiscal Year 2021, July 1, 2020-June 30, 2021.

The presentation will include three scenarios based on displacement events occurring in the fall after Aug. 29, and in the spring after March 1.

The final scenario looks at the iconic stadiums overhead if there a no major events in the next fiscal year.

Under the first scenario there would be 12 displacement events, including six UCLA games, the Rose Bowl games, two music festivals, two concerts games and one soccer game.

Under the second scenario there would be nine events, no concerts and no soccer match. “It is important to recognize that over the past several days, primarily based primarily on discussions with UCLA, it is currently likely that college football will occur in the fall of 2020,” Dunn wrote in his report. “At this time it is not determined if fans will be permitted to attend the games or the contractual and fiscal impact.”