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GRANT PARK — Lollapalooza brought hundreds of thousands of people to Grant Park over the weekend — and the festival will return for at least another 10 years, Mayor Lori Lightfoot and festival co-founder Perry Farrell announced Sunday.
The city reached a deal with Lollapalooza’s organizer, C3 Presents, that will keep Lolla at Grant Park for at least another 10 years, with a five-year extension possible, the city said.
The festival will be allowed to expand its capacity to 115,000 per day as part of the deal. It drew reported sellout crowds of 100,000 on Friday, Saturday and Sunday, and a near sellout Thursday.
Lightfoot and Farrell announced the deal Sunday night as Lolla began to wind to a close.
“Lollapalooza is not only a significant economic driver for our city, but a truly iconic Chicago summer festival,” Lightfoot said in a statement. “I am thrilled to come to this agreement that will ensure Lollapalooza is here to stay for the next decade — bringing music, culture and joy to both residents and tourists for years to come.
The deal is expected to bring millions to the city over the years, with the Park District receiving 5-20 percent of revenue from the fest per year, with the amount varying depending on how much the festival brings in from admission, goods and services, licensing sales, sponsorships and streaming. C3 also guaranteed it would pay the Park District at least $2 million if a four-day fest is held, $1.5 million if the festival is three days and $750,000 if there is no festival.
C3 will commit $2.2 million to Chicago Public Schools and will provide some funding for renovating Grant Park’s tennis courts.
The announcement came moments before K-pop sensation J-Hope took to the stage in front of tens of thousands of super fans who camped out for hours to see him perform.
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