A 21-year-old college student can break even selling cups to a keg – yet the University of Minnesota, the institution that is educating said student, can’t break even selling beer at college football games.
Deadspin, the same blog that broke the story on Manti Te’o’s fake girlfriend as well as the Sarah Philips hoax, is calling out one of the largest public universities in the country as an institution not worth the money.
In 2012, an institution that charges people money to teach them things lost money selling beer to young people watching sports. If you are unfamiliar with youth and the watching of sports—specifically football—this would be equivalent to losing money selling peanut butter to jelly. And yet, there is the University of Minnesota, $16,000 in the red after its first year f***ing up the Kid In A Candy Store business at TCF Stadium.
The university was seemingly caught off guard by the loss and rushed to renegotiate their concessions deal with their vendor, Aramark. The new deal gives Minnesota 35 percent of net sales, as opposed to 22.5 percent from the previous year.
Aramark also pledged to give the University of Minnesota $37,000 to erase the deficit during the 2012 football season.
The new percentages would allow the university to cash in more than $110,000, if the sales figures stay the same in 2013, according to the Star Tribune.
In its inaugural year of allowing beer sales during Gopher athletic events, which was exclusive to football in the first year, the school reported $900,000 worth of alcohol sold.
Sale of alcohol was a hot issue at the state capitol, and many consider 2012 a test. Despite the loss (and the bad publicity) the season was deemed a success and it’s likely beer sales will expand to Williams and Mariucci Arenas in the near future.
However, for the record, at $7.25 a beer and with the concessions located at the other end of the student section at TCF Bank Stadium, perhaps the school should consider targeting their audience better. Although frankly, I know more people who would smuggle a flask in their underwear as opposed to buying a plastic cup of brew at that price.