Finance Committee to Review Rose Bowl Operating Company’s $92.9 Million Fiscal Year 2027 Budget

The Pasadena Finance Committee is scheduled Monday to review the Rose Bowl Operating Company’s draft Fiscal Year 2027 operating budget, which projects $92.9 million in total gross revenues, breakeven net results, and a $9.9 million capital plan that includes work tied to the stadium’s Lasting Legacy Campaign and the South End Zone project.

The committee’s review is part of the city’s annual budget workshop process. Because the Finance Committee is a strictly advisory body, its discussion of the Rose Bowl Operating Company budget will not result in binding action; the committee may forward observations and recommendations to the full City Council, which retains final authority over the city’s Fiscal Year 2027 operating budget.

According to the draft budget presentation prepared by the Rose Bowl Operating Company, the recommended Fiscal Year 2027 budget anticipates 17 stadium events and eight music festival event dates, for a total of 25 displacement events, plus 120 enterprise events. Net event income is projected at $25.98 million, up $2.49 million from the Fiscal Year 2026 adopted budget. Golf complex income is projected at $2.93 million, and other miscellaneous revenues are projected at $6.88 million.

The presentation notes that the Rose Bowl Operating Company has continued to pay its Fiscal Year 2026 debt service obligation without support from the General Fund. According to the presentation, the company has reinvested $45.7 million between Fiscal Year 2015 and Fiscal Year 2025 in stadium and golf complex capital infrastructure and preventative maintenance. Life-to-date actual transfers and grant funding from the Legacy Foundation total $35.8 million, and the Legacy Foundation has begun efforts related to a capital campaign targeting $80 million.

The Fiscal Year 2027 capital budget of $9.9 million includes a planned $7.5 million in Lasting Legacy Campaign South End Zone and stadium funds, $1.7 million for stadium improvement, and $652,000 for the golf complex. Fiscal Year 2027 preventative maintenance funded from operations is budgeted at $2.2 million.

According to the presentation, the Fiscal Year 2026 forecast reflects net income of $718,000 against an adopted budget of $1.49 million. Net event income is anticipated to total $20.43 million against a budget of $23.49 million, with UCLA football and the Rose Bowl Game generating $9.3 million in net event income against a $10.7 million budget, music festival net income at budget at $3.5 million (including a $438,000 threshold payment), and concerts and soccer combined netting $3.6 million against a $5.7 million budget due to five fewer events. Flea market net income is projected at $1.8 million against a $1.7 million budget, and enterprise events are projected to net $2.1 million against a $1.8 million budget — described in the presentation as a record net event income for that category.

The Brookside Golf Complex is tracking to net income of $2.6 million against a budget of $2.7 million, and non-event income is projected at $6.6 million against a budget of $4.4 million, primarily driven by higher interest earnings, anticipated recovery from the Eaton Fire, and stronger-than-expected Tourism Business Improvement District (TBID) and SB-96 funding.

The presentation lists several key contracts and their status: a multimedia advertising contract in Year 2 of 11 with JMI; golf complex management in Year 2 of 10 with Troon; the music festival in Year 5 of 7 with Goldenvoice; premium seating sales in Year 2 of 5 with Elevate; and ongoing Olympic venue contract negotiations.

According to the presentation, anticipated Fiscal Year 2027 stadium events include a seven-game UCLA football season, the Rose Bowl Game Quarterfinal in its third year, nine concerts, and eight music festival dates with a $770,000 threshold payment.

The presentation lists Fiscal Year 2026 accomplishments including hosting more than one million patrons in campus programming and partnering with nonprofit organizations to generate more than $3.2 million for community groups including Autism Speaks, Breakthrough T1D, Union Rescue Mission, the American Heart Association, and First Tee of Pasadena.

The Finance Committee is scheduled to meet at 3 p.m. on Monday, May 11, in Pasadena City Hall Council Chamber, Room S249, 100 North Garfield Avenue, in Pasadena. For more information call (626) 744-7311 or visit https://www.cityofpasadena.net/commissions/agendas/.