Yeah, the guy who caught it was likely the same guy that propped him up earlier. Watch carefully and you can see Prince making eye contact with someone out front just before he walks off, apparently seeing his Tele caught successfully.
Can you imagine the pressure that comes with that job? Being the guy who might DROP Prince’s guitar in a situation like that!
From the Oprah link above:
And really, it’s a telecaster (style) guitar, very tough. It’d probably survive if the guy had missed.
Anyone interested in this aspect of the Telecaster can read about the creation and construction principles Leo Fender applied here. Short version: Telecasters were made from fewer separate “stitched together” wooden parts and more from single pieces of solid wood (one each for the body and neck). If the neck happened to break, a luthier could readily swap in another Telecaster neck.