The Associated Students of the University of Arizona shelled out $1.4 million clams to put on a concert at the Arizona Stadium recently featuring Jay-Z and Kelly Clarkson, thinking they'd make their money back and then some!
Those poor college co-eds in Arizona were dead wrong!
Just how far from right were they??
The 'Last Smash Platinum Bash' only earned $503,502 - putting the ASUA in almost a million dollars of debt!!!
The organization, which paid Jay-Z a whopping $750,000 to perform, were forced to empty their savings of $350,000 as well as accepting the aid of the Arizona University bookstore to help the students eliminate their debt sooner than later.
"Nobody predicted the economy would be the way it is now last May," said ASUA prez Tommy Bruce, whose organization gave away over 4,000 tickets to the concert under the assumption that the advertising revenue would come pouring in.
[Image via WENN.]