Concession Agreement

"We concede that you get...x. And y. And then z." And it's all written down in detail by lawyers who did something bad in a previous life to have to end up doing this job for a living.

A concession agreement is a contract, usually between a government and a business to conduct business on the government’s property. A farmer’s market given access to city streets on Saturday mornings to sell produce in exchange for a fee is a concession agreement. The agreements can be more complicated, such as the case of building public arenas that result from a negotiated contract between the city and a pro sports team.

A concession agreement is also part of the underwriting process in a public offering situation. See: Underwriter.

The use of the government property comes with specified conditions. In the case of NFL teams, the cities are building hundred-million dollar arenas to help a non-profit corporation...the NFL.

Irony? Nah, just smart business.