SBD/7/Facilities Venues

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  • DEVELOPER PUSHES NEW BOSTON STADIUM PLANS

         Boston developer Joe Corcoran is pushing his $800M plan for
    a convention center, baseball park, and football stadium in an
    area called Crosstown.  The Red Sox and Corcoran's group have
    been talking "behind the scenes" for months.  Red Sox CEO John
    Harrington: "We want a new ballpark and when these labor problems
    are over in baseball, we will focus a lot more attention on
    that."  Corcoran's idea is to have the Sox "develop their own
    stadium with their own investors."  The Boston Redevelopment
    Authority was to begin talks this week on a convention center and
    sites for the teams (Will McDonough, BOSTON GLOBE, 10/6).
    

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  • PACKERS MAY BE LEAVING COUNTY STADIUM

         The Packers must decide in January on whether to renew the
    lease at County Stadium.  The Packers play four games in
    Milwaukee, but lose an estimated $1.6M a game on ticket sales,
    higher rent and and a cut in concession revenue.  Packers
    President Bob Harlan is holding off on a decision, waiting to see
    if Milwaukee builds a new stadium, but stadium plans are on hold
    until the baseball strike is settled.  "The betting around Green
    Bay is that Harlan will not renew the lease," which would create
    a problem of what to do with the 48,000 season ticket holders in
    Milwaukee, "few of whom have tickets to Lambeau Field, which has
    a separate ticket list and is sold out for every game" (Paul
    Attner, THE SPORTING NEWS, 10/10 issue).
    

    Print | Tags: Facilities, Green Bay Packers, Vulcan Ventures
  • SAINTS DEAL HAS UNIQUE "ESCAPE CLAUSE"

         In an examination of the new stadium deal between the Saints
    and the Superdome, Jeffrey Meitrodt writes that an "unusual part"
    is the escape clause.  If, for whatever reason, the team leaves
    New Orleans before 2006, Saints owner Tom Benson would have to
    pay $25M, after which the penalty would decline by $1M per year
    providing for a minimum penalty of $13M.  Under the previous
    deal, the most Benson could be penalized was $1M.  The new lease
    runs through 2018 (New Orleans TIMES-PICAYUNE, 10/6).
    

    Print | Tags: Facilities, New Orleans Saints
  • STATE OF THE STADIUMS: A REPORT ON FOOTBALL'S INFRASTRUCTURE

         Last Sunday, NFL Commissioner Paul Tagliabue floated the
    possibility of the league helping finance a new stadium in the
    Los Angeles area as a way of keeping the Rams and Raiders from
    leaving the nation's No. 2 media market.
         In an interview with THE SPORTS BUSINESS DAILY, Marc Ganis,
    president of Sportscorp, Ltd., and an expert on football
    facilities, says that while the Coliseum is a better-than-average
    facility, the Raiders are at a disadvantage compared to
    franchises in smaller markets.
         THE DAILY:  Tell us about the state of stadium
    infrastructure in the NFL.
         GANIS:  Generally, it appears the smaller market locations
    have new, better revenue-producing stadiums than the larger
    markets with the older stadiums.  You've got two of the best
    markets in the country, Los Angeles, the No. 2 market, and
    Washington, the No. 6 market, and those are the only two
    locations in the NFL that don't have any luxury suites. ... After
    the Carolina Panthers and Jacksonville Jaguars go through their
    three years with only a portion of the television revenue, they
    are going to be better off financially than the Giants, Jets,
    Bears, Raiders, Rams.  That is an anomaly that is a very strange
    situation.
         THE DAILY:  Why is this?
         GANIS:  You have municipalities that desperately want NFL
    football, want to secure it or retain it, and will step up to the
    plate and put up some serious tax dollars to help a stadium be
    built.  In other instances, you have a city like Chicago.  The
    Bears are an incredibly hot property, but there is no credible
    threat that they will move out of the marketplace. ... There is
    no incentive to get the public sector to act -- and that is part
    of the problem in L.A.  In Southern California, and the L.A. area
    in particular, there is a lot to do.  Football is not the be-all-
    and-end-all. ... The idea of spending money on a sports stadium
    is considered laughable to many political leaders. ... So then,
    the league is left in a difficult situation where you have teams
    that are at a financial competitive disadvantage, like the
    Raiders and the Rams, but they are playing in large markets that
    are needed to keep the national TV revenue up.
         THE DAILY:  What about Tagliabue's L.A. idea?
         GANIS:  The NFL proposal is realistic.  You may just have to
    look down the road, it is not like in Jacksonville where the day
    after they got the team, they started reconstruction of the
    stadium. ... [But] I have heard from some of the owners that if
    you start helping one financially, where is mine? ... You can
    certainly see Robert Kraft, who paid something like $150 million
    for the Patriots, playing in a stadium that is acknowledged by
    Paul Tagliabue as being poorly located and a poor facility,
    saying, "It's nice you are helping L.A., but when you are done
    can you help me please?"
    

    Print | Tags: Chicago Bears, Facilities, Jacksonville Jaguars, New England Patriots, New York Jets, NFL, Oakland Raiders, St. Louis Rams
  • STATE OF THE STADIUMS II: A PROFILE OF THE L.A. COLISEUM

         THE SPORTS BUSINESS DAILY has compiled information on the
    NFL's stadiums and begins the first of an occasional series of
    stadium profiles today with the L.A. Coliseum.
    STADIUM:       L.A. Memorial Coliseum, Los Angeles, CA
    AGE:Completed in 1923.  Raiders began play in 1982.
    CAPACITY:  67,000 for the Raiders (94,000 for USC)
    LUXURY BOXES:  None.  The present one-year lease says the Raiders
                   can play '94 rent-free, with 8% of gross ticket
                   sales going towards a fund for possible luxury box
                   development.  If luxury boxes are not developed,
                   the Raiders retain the funds.
    OWNERSHIP:Owned by the City/County of Los Angeles, and the State
    of California.
    MANAGEMENT:    The L.A. Coliseum Commission, with some duties
                   sub-contracted out to Spectacor Management.
    RENOVATION:Recent earthquake renovation of $60M from FEMA. '93
    renovation of $15M for lower playing field, track removal, 8,400
    additional seats, and 2,300 additional spots in the pavilion
    section.
    ADVERTISING:   All ad revenues sold by the Commission.
    CONCESSIONS:   Volume Services Catering.  40% goes to the
                   stadium, with 50% of that split with the Raiders.
    PARKING:  7,000 parking spots overseen by the Coliseum.  $9 per
    car.  All revenue goes to the state.
    LEASE:One year lease, expires in August '95
         (Source: Sean Karmody/Pat Lynch, L.A. Coliseum Commission)
    

    Print | Tags: Facilities, NFL, Oakland Raiders
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