The Associated Students of the University of Arizona took a $917,000 hit when a concert they sponsored drew a smaller-than-expected crowd.

ASUC paid a total of $1.4 million to mount the show, and brought in barely a third that much in revenue. Jay-Z headlined the concert, whose bill also included Kelly Clarkson, Third Eye Blind, and The Veronicas.

The loss wipes out ASUC’s $350,000 emergency reserve fund. The remainder of the debt will be covered by the campus bookstore, which provides the student government with more than half a million dollars in support each year. For the next five years, those annual payments will be cut by $114,000.

The Jay-Z concert was ASUC’s first stadium show in more than thirty years, and the culmination of a four-year campaign by the student government to bring large-scale performances to campus.