I plan to comment more on this matter over the weekend. However, the following is an official statement released by Grambling regarding the details of the Port City Classic football game between Grambling and Louisiana Tech.
GRAMBLING, LA—The Grambling State University Tigers are set to take on the Louisiana Tech Bulldogs in the inaugural Port City Classic at Independence Stadium in Shreveport on Labor Day Weekend (September 4, 2010). Several recently published articles have incorrectly stated elements of the contract between the two universities.
This game was negotiated as a partnership between Grambling State University, a Football Championship Subdivision (formerly known as Division I-AA) and Louisiana Tech, a Football Bowl Subdivision (formerly known as Division I-A).
In the past, other institutions have invited Grambling State University to match-ups with offers between $275,000 and $340,000. While the university has accepted many of these offers to fulfilling scheduling requirements, Grambling State University was successful in negotiating a more favorable financial deal for the university based on additional contingencies built into the contract.
The following outlines some of the specific elements of the contract. Revenues generated from ticket sales will be shared equally up to the first $400,000. LA Tech will receive the next $75,000 in ticket revenue (on sales between $400,000.01 and $475, 000.00) and Grambling State University will receive the next $25,000 (on sales between $475,000.01 and $500,000.00). All revenue above $500,000 will be shared equally between the two universities.
Marketing for the Port City Classic is a shared endeavor by Learfield Sports, contracted through LA Tech, and Grambling Athletics. Learfield Sports will serve as a non-exclusive marketing agent for the Port City Classic and Grambling Athletics will secure additional sponsorships and vendors. In addition to revenue generated through ticket sales, Grambling State University will also receive 40% of all corporate sponsorships, 50% of the net sponsorship revenue activity from vendors during the Port City Classic, and 100% of all print media (Game Day Program) and souvenir revenue. Grambling Athletics controls vending inside the stadium, Port City Classic souvenirs, print media (game day magazine and the video advertising board). These items will generate additional revenue.
Grambling State University has committed to bringing several games to Shreveport over the next few years during the Labor Day Weekend. As a result, the name and logo of the Port City Classic belong exclusively to Grambling State University.
The location of the game in Shreveport and the accommodations offered by the City of Shreveport provide an added incentive for the events and activities Grambling State University has planned for Labor Day Weekend. Similarly, playing LA Tech in Shreveport allows Grambling to maximize revenue while minimizing expenses.
According to Grambling State University Athletic Director, J. Lin Dawson, “the rules of the jungle dictate that the Tiger gets its fair share of the spoils. This is a win-win for both schools, but at the end of the day, this is a very good deal for Grambling. In tough economic times, we have to find the best way to get the most bang for the buck and right now, this is it”.