Plans for Shakira revenue start with Fresno State athletics, then so much more

Fresno State has not yet released its cut of revenue from its sold-out Shakira show, the first concert in a football stadium that opened 45 years ago.

The revenue — coming from parking, concessions sales, suites, the facility rental fee and merchandising — will support athletics operations, and likely provide a healthy boost across a department challenged by a new era of college athletics that includes revenue-sharing with student-athletes.

But athletics director Garrett Klassy acknowledged a wider view, and the impact a concert attended by around 30,000 could have on the university’s efforts to renovate its aging stadium or boost potential new construction on campus.

A commitment to hosting more concerts could pique the curiosity of potential investors in a public-private partnership to renovate or build a new stadium that could include surrounding mixed-use development.

Concert revenue could also prove to neighbors that twice-rejected Fresno County tax measures to pay for upgrades to university infrastructure and buildings that the stadium could be an economic driver for the city, county and university.

“It’s plausible to draw those two lines together,” Klassy said.

No matter where it leads, new revenue streams are vital for athletics departments, and football stadiums are a source of untapped potential.

“Captain Obvious says you have this stadium that gets used six to eight times a year and remains vacant for the other 357, 358 days, right?” said Jim Strode, associate dean of undergraduate programs and O’Bleness professor of sport management at Ohio University.

“With the increased pressures on institutions to not only pay the bills for facilities, structures, coaching salaries, etc, but now you have the NIL (Name Image Likeness) game in play and one of the biggest assets on campus remains vacant, and that’s lost revenue.

“I wouldn’t be surprised if the leaders of Fresno State’s athletics department are thinking of a multitude of other ways to generate revenue off of the stadium. You think about it: It’s one of the university’s greatest assets, and an asset is only as good as its ability to generate revenue.”

For Fresno State in the short term, Shakira and any concert or event that will follow is a welcomed new revenue stream, one that can bolster student-athlete recruitment, development and retention and help the Bulldogs close a revenue gap with many of the teams headed to a rebuilt Pac-12 next year. Fresno State reported $56.1 million in athletics revenues in 2024, according to the financial report the university filed with the NCAA. San Diego State, which also is moving to the Pac-12 from the Mountain West, reported $91.4 million in athletics revenue. Oregon State reported $120.3 million. Colorado State, $73.5 million.

“That’s really how I’m looking at it,” Klassy said. “There are so many elements to even get a stadium plan off the ground. I need to look at the near future, and a stadium doesn’t matter if I don’t support (coach) Matt Entz winning football games.

“I’m looking at it more as a revenue bucket more than anything.”

Large stadium shows are becoming more common as NCAA Division I schools search for ways to generate new revenue to keep up with rising costs.

Country star Zach Bryan is playing Michigan Stadium in September in the first concert at a venue that opened in 1927 and has a capacity of more than 100,000. Post Malone, a hip-hop, pop and country artist, played Albertson’s Stadium at Boise State in June. Wisconsin had two major acts at Camp Randall Stadium this summer with Country pop star Morgan Wallen playing the venue in June and the rock band Coldplay in July — its first concerts since 1997, when the Rolling Stones played.

Fresno State will continue to explore its options on future events, though no contracts have been signed and no dates are on hold. There have been discussions with concert promoters. A match involving a Mexican professional soccer team has been discussed.

“We’ve said since Day One our goal is to show that our football stadium is not just a six-Saturdays-out-of-the-Fall venue,” Klassy said. “It’s a multipurpose venue for the city and it has a real impact, so we need to treat it as such.”