Report: Penn State enters into agreement with premier ticketing group
Beaver Stadium, the 106,572-seat home of Penn State football, is set to undergo dramatic renovations in coming years. With a planned rebuild of the stadium’s west stands on tap, up for board of trustees approval on May 21, many other changes are coming with it.
Tuesday afternoon, another one of those elements has been revealed.
According to a report from Sports Business Journel, Penn State athletics intends to enter into an agreement with Elevate for its future premium ticketing sales. The arrangement is set to begin following the 2024 season, focusing primarily on “supporting ticketing revenue opportunities, including premium hospitality.”
“Elevate has won the right to support ticketing-based revenue opportunities at Penn State’s Beaver Stadium, according to people familiar with the matter… Elevate is active in the college world, working with all the Power 5 conferences, including the ACC in a many-faceted arrangement that sees Elevate consult on ticketing pricing, revenue optimization, experiential packaging strategy, and other aspects of the ACC fan’ experience. Last year, Elevate signed more than two dozen college clients, bolstering a roster that includes Alabama, Notre Dame, USC, Stanford and Florida.”
What is Elevate?
In practical terms, Penn State athletics is handing over the reins of its premium football experience services to leaders in the field. The arrangement provides Penn State with guaranteed revenue from its premium sales, while Element provides a premium experience to its clientele. Element will also handle the sales of Beaver Stadium’s planned loge boxes and suites.
The report does not detail when the arrangement will begin, or whether the agreement will apply to the entirety of Beaver Stadium, or focus primarily on the new opportunities created by the planned west stands renovation.
Among many proposed changes to Beaver Stadium, the hurdle toward final approval for the massive, $700 million project is set for later this month.
“The primary scope of the Beaver Stadium renovation is on the stadium’s West Side,” the Penn State project description says. “This approach would replace the current West Side of the stadium and provide improved access for broadcasting, greatly improved circulation, new restrooms, upgraded concession offerings, and much-needed premium seating.
“Included with the West Side replacement are much-needed miscellaneous improvements of the North, East, and South, as listed below. These combined projects will greatly enhance the fan experience and safety and provide significant incremental revenue to fund these improvements.”
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