2019 NCAA Mens Basketball Final Four Funding Agreement Ways and - - PowerPoint PPT Presentation

CITY OF MINNEAPOLIS

2019 NCAA Men’s Basketball Final Four Funding Agreement Ways and Means Committee

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October 16, 2018

Why Host the Final Four?

• Generate economic activity
• Align with the investment of public and private dollars

in sports venues, hospitality and transit infrastructure

• Create valuable media exposure (national &

international) to help market and sell the destination

• Add to sense of community pride
• Helps support the downtown’s nearly 35,000 people

working in the hospitality community and support industry jobs

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Why host the Final Four?

• Partnership with the University of Minnesota
• Strengthen relationship with NCAA
• Minneapolis is currently scheduled to host:
• 2018 Women’s Volleyball Championships
• 2020 Men’s Wrestling Championships
• 2021 Men’s Basketball Regional
• 2022 Women’s Basketball Final Four

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2019 NCAA Men’s Basketball Final Four: Basics

• April 5-8, 2019
• 90,000 Visitors including college students, alumni

and basketball fans

• Over 9,000 hotel rooms in Minneapolis, with a 4-

night minimum stay

• Events will be held in downtown Minneapolis at US

Bank Stadium, the Minneapolis Convention Center and Nicollet Mall

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Final Four by the numbers

• $142 million- Estimated economic impact to the

Twin Cities

• 23 Million viewers of championship game
• 97 Million U.S. viewers from the beginning of the

tournament to the Final Four

• 180 Countries broadcast the games

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Local Partners

• University of Minnesota
• MSFA
• Minneapolis Local Organizing Committee
• Meet Minneapolis
• City of Minneapolis

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MLOC Community Initiatives

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• Yearlong Reading Initiative

for Minnesota 3rd Graders

• Nine Minneapolis schools

participating (600+ students)

• Free access to thousands of

high quality digital books

• Final Four Reading Spots

located around the city

Education

Read to the Final Four

MLOC Community Initiatives

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• Fan Jam tour stops at: Open Streets –

Minnehaha, World Cup Festival, Armatage Festival, Pride Fest, National Night Out, Safe Summer Nights

• Tour stops planned in every ward of

Mpls (visited 11 so far)

• Coordination with ‘Bike Cops for Kids’

and ‘Police Athletic League’

Youth

Fan Jam

Final Four Events at a Glance

Final Four Friday

• FREE event
• All-star game
• Team Practices
• Band and cheer
• LOW COST ticket
• Family friendly
• Autographs &
• Interactives
• NABC Convention

also held at MCC

Fan Fest

• FREE pre-register
• Kid’s Basketball Parade
• Ages 8-12
• Free Fan Fest entry
• 3,200 youth

Final Four Dribble

March Madness Music Series Semi-Final & Championship Games

• Three days
• Urban, Pop & Country
• Top Talent
• Low cost tickets

Final Four Events at a Glance

Nicollet Mall Event

• On Nicollet Mall,

tentatively from 8th to 12th Streets

• Food and drink
• Stage for pep rallies,

school bands, etc

• Semi-Final games- April 6
• Championship game- April 8

Financials

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Expenses (hard costs) Police 1,300,000 $ Convention Center 638,000 $ Public Works 360,000 $ Other enterprise support 102,000 $ Total 2,400,000 $ Funding Sources Minneapolis Local Organizing Committee funds 1,500,000 $ 2018 City budget allocation to Downtown Assets 100,000 $ Estimated entertainment tax revenue from game tickets 800,000 $ Total funding 2,400,000 $

Contract Elements

• Addresses funding and the services in support of

the official Final Four events

• Provision for Change Orders
• 90% of the funds will be received prior to the event
• The MLOC and other parties such as the NCAA and

its vendors will pay for typical City permits as needed in addition to the amounts in the agreement.

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