What happened
The FAA’s narrative, in sentence case. The FAA writes it in capitals and removes private details.
Narrative: while towing banner at 2300' MSL over memorial stadium, Lincoln, NE, the banner separated from the aircraft. Pilot was notified by another aircraft on the frequency(118.5). Aircrew from both aircraft notified lnk ATCT and N3097Y (towing aircraft) requested to return to chambers airstrip. The banner fell in the vicinity of sandoz residence hall and was retrieved by the operator. No damage to aircraft or injuries were reported. The banner tow cable had broken approximately one foot from tow hook. It appears that cable became tangled during the pickup sequence and the cable rubbed together while being towed. This incident is closed with this report.
As the FAA filed it
NARRATIVE: WHILE TOWING BANNER AT 2300' MSL OVER MEMORIAL STADIUM, LINCOLN, NE, THE BANNER SEPARATED FROM THE AIRCRAFT. PILOT WAS NOTIFIED BY ANOTHER AIRCRAFT ON THE FREQUENCY(118.5). AIRCREW FROM BOTH AIRCRAFT NOTIFIED LNK ATCT AND N3097Y (TOWING AIRCRAFT) REQUESTED TO RETURN TO CHAMBERS AIRSTRIP. THE BANNER FELL IN THE VICINITY OF SANDOZ RESIDENCE HALL AND WAS RETRIEVED BY THE OPERATOR. NO DAMAGE TO AIRCRAFT OR INJURIES WERE REPORTED. THE BANNER TOW CABLE HAD BROKEN APPROXIMATELY ONE FOOT FROM TOW HOOK. IT APPEARS THAT CABLE BECAME TANGLED DURING THE PICKUP SEQUENCE AND THE CABLE RUBBED TOGETHER WHILE BEING TOWED. THIS INCIDENT IS CLOSED WITH THIS REPORT.