How do you lose money selling beer?
However it’s possible, the University of Minnesota pulled it off last season in their inaugural year of beer sales at TCF Bank Stadium during Gopher football games.
The university lost $16,000 despite selling $900,000 worth of alcohol according to The Associated Press after the university responded to an open records request.
According to the AP article, half of the generated sales of wine and beer went to the security agency that had the contract to sell the alcohol.
This is surprising to myself and I’m sure other stadium fans who have paid too much for a cheap draft beer served in a plastic cup.
While the university says it was never their intention to make a profit in its first year, the school said they will be expecting some profit next season.
Meanwhile, lawmakers are looking to expand alcohol sales to Mariucci and Williams Arena. The news of a loss should not alter the course of the bill that would make this happen.
As the lawmaker who introduced the expanded alcohol sales bill said in late February — “Armageddon did not happen.”