As fun as the Last Smash Platinum Bash was, it lost ASUA over $900,000, according to a Wildcat breaking news report:
In order to offset the loss, ASUA must empty out the entire $350,000 from its emergency reserve fund. This still leaves the student government with $567,000 to cover, which it will do via an agreement with the UA Bookstore. ASUA will pay the bookstore back in increments over the next five years.
Although having a 17,000-person capacity on the west side of the venue, Arizona Stadium only held a maximum of 11,500 spectators at one time during the show, Bruce said.
ASUA sold a total of $6,100, with several thousand more given away from newspaper, radio and student government promotions.
With such a massive loss, I have trouble believing ASUA had faith in this concert’s revenue, especially after last year’s Kanye West concert. Did they really think that Last Smash Platinum Bash would break even, let alone earn enough money to distribute scholarships?