SBD/1/Facilities Venues

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  • CITY OFFICIALS PUSH FOR INCENTIVES FOR REDS AT RIVERFRONT

         City Councilmen Tom Luken and Todd Portune are asking for
    more city incentives to keep the Reds at Riverfront Stadium.
    Luken asked City Manager John Shirey to "make the same offer to
    the Reds as that tendered to the Bengals," which included a
    guarantee to give the Bengals $2M, plus improvements to the
    team's practice field.  Luken: "The Reds are out in the cold,
    irate and restless.  When the Bengals were out in the cold, irate
    and restless, the city manager solved it.  We paid the Bengals
    and bribed them to stay to save the franchise."  Portune
    introduced a motion calling for the city to match payments to
    improve the Bengals practice field for the Reds, and restructure
    the luxury-box revenue cut for the Reds to be similar to that of
    the Bengals (Allen Howard, CINCINNATI ENQUIRER, 11/1).
    

    Print | Tags: Cincinnati Bengals, Cincinnati Reds, Facilities
  • COULD THE RAIDERS BUSS A MOVE TO INGLEWOOD?

         City officials in Inglewood, CA are gearing up for a push to
    bring in a "massive sports complex that could include a new Forum
    and a stadium for pro and college football, aqccording to a
    report in the SOUTH BAY DAILY BREEZE of Torrance, CA.  The
    facility would be built at the Hollywood Park Race Track property
    and could spill onto the Forum's adjacent property.  The complex,
    which could cost as much as $300M, would be a joint venture
    between the city, Hollywood Park and a group headed by Lakers
    owner Dr. Jerry Buss -- if an indoor arena were included in the
    development.  According to Inglewood City Manager Paul Eckles, at
    least one pro and college team probably would have to sign long-
    term contracts before a football stadium would be constructed.
    Inglewood Mayor Edward Vincent: "We're talking about the Raiders
    and UCLA. ... It looks real good."  Buss said he is not looking
    to raze the Forum and build another home for the Lakers, but he
    would "listen to offers."  UCLA has two years left on its
    contract with Pasadena for the Rose Bowl.  Officials at Southern
    Cal, which play at the Coliseum, said they are not interested in
    moving (AP/WASHINGTON TIMES, 11/1).
    

    Print | Tags: Facilities, Los Angeles Lakers, Oakland Raiders
  • NHL ARENAS & THE LOCKOUT: COPING WITH THE GREAT MELTDOWN

         During any major league work stoppage, the primary focus is
    on the economic losses suffered by the owners and players.  But,
    in reality, the financial losses do no stop there.  Today, THE
    SPORTS BUSINESS DAILY begins the first of a regular series on the
    ripple effects of the baseball strike and hockey lockout with a
    look at how NHL arenas are coping with -- to this point -- one
    month of lost revenues.       As Tim Murphy, general manager of
    the Pittsburgh Civic Arena, puts it:  "Any tenant in a building
    is your partner, maybe it is not structured as such, but still
    you depend a lot on what they do.  And right now, they -- like us
    -- have no income coming in from hockey games."
         For a more in-depth look at the issues facing NHL arenas,
    THE SPORTS BUSINESS DAILY spoke with Dr. Jack Vivian, the
    Director of the Sports Facilities Research Laboratory at the
    University of Michigan.
         THE DAILY:  Is there any way for the arenas, or the
    communities in which they reside, to make up lost revenues?
         VIVIAN:  This is money that is gone forever, this isn't a
    recoverable type of money.  And, of course, the community loses
    as well because every worker that earns money in the facility
    spends it somewhere else in the community.  So they have to
    tighten their belt.  The economic impact of the lockout will be
    devastating if it continues much longer. ... Those dollars roll
    over so many times in the community.  Some people use 6 times,
    some people use 3 times -- the multipliers are different in
    different regions.  So it has a significant impact.
         THE DAILY:  Is there any long-term effect on rates for in-
    arena ad signage?
         VIVIAN:  All of the advertising is sold on the number of
    looks it is going to receive, the number of views that is going
    to be expected.  So that is all based on attendance as well.  The
    value of advertising is depreciated because of the lack of games
    and exposure. ...  This is money that will impact what they can
    sell "the board" for next time.
         THE DAILY:  Is there any effect of a hockey work stoppage on
    the construction of new facilities?
         VIVIAN:  The new facilities that have been created in the
    last 10 years, because of the expansion of hockey and the NBA and
    all the other things, now these people are saying look at the
    money we spent and look at the revenue that is falling off, and
    we're going to have to go back to the taxpayers for some other
    form of funding the debt service on these buildings. ... [But]
    you'll note that a whole lot of the new facilities are being
    built by the pro teams -- or the people that are in partnership
    with the pro teams.  Very few of the new arenas are citizen voted
    facilities.  Very few of them end up to be funded from the
    general tax dollars.
         THE DAILY:  Is there a specific figure that you can attach
    to the losses NHL arenas could encounter?
         VIVIAN:  I would hesitate to give a figure, but if I was
    asked to guesstimate I would say a typical game would be worth $2
    million or $3 million -- based on where the opponent is coming
    from and other factors.  Even if you say a game is worth only $1
    million, look at the equation.
    

    Print | Tags: Facilities, NBA, NHL
  • STATE OF THE NFL STADIUMS: KANSAS CITY'S ARROWHEAD

         The Chiefs are one of the most popular draws in all of
    professional football.  More fans saw the Chiefs play at home and
    away last year than any other team, and they recently sold out
    their 30th consecutive game at Arrowhead.  Today, THE SPORTS
    BUSINESS DAILY continues to profile the NFL's infrastructure with
    a look at Arrowhead Stadium.
    STADIUM: Arrowhead Stadium, Kansas City, MO
    AGE: Completed in 1972
    CAPACITY: 79,104 —3rd highest in the NFL.
    LUXURY BOXES: 81 luxury boxes, owned and operated by the team.
    OWNERSHIP: Owned by the taxpayers of Jackson County.
    MANAGEMENT: Team runs the facility on a $2 million managementfee from the Jackson
    County Sports Authority.
    COST: Built in conjuction with Kauffman Stadium. Combined cost of $53 million.
    Chiefs added $9.5M for additional construction.
    PARKING: Parking for 26,000 cars at $6 a car. Team receives all revenue.
    CONCESSIONS: Handled by Volume Services. Undisclosed percentage goes to the team,
    with 6% of teams revenue to Jackson Co. Sports Authority.
    LEASE: Lease expires in 2010
    RENT: $939,358— 17th highest in the NFL.
    ADVERTISING: Team owns advertising rights - annual revenue figure not available.
    PUBLIC $: $7.5 million in city, county and state subsidies for both Arrowhead
    and Kauffman stadium.

     

     

    . (Sources: Jeff Klein/Operations Director at Arrowhead, John Friedman/Jackson County Stadium Authority; rent and public subsidy figures from Florida Times-Union, July 24, 1994.)

    Print | Tags: Facilities, Kansas City Chiefs, NFL
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