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THE SPORTS BUSINESS DAILY continues to look at the NFL's infrastrucure with an examination of Philadelphia's Veterans Stadium.
STADIUM: Veterans Stadium, Philadelphia, PA AGE: Build in 1971 CAPACITY: 66,386 --12th lowest in the league MANAGEMENT: City of Philadelphia Parks and Recreation. OWNERSHIP: Owned by the City of Philadelphia. LUXURY
89 luxury penthouses, 59 super boxes, 44 restaurant clubboxes - controlled by team. COST: Cost $63M and paid for through public bonds and self-sustaining loan. Roughly $5.6M in debt CONCESSIONS: Ogden Leisure Services. 58.2% of general concessions to the Stadium, which is split 50/50 with the team. The remaining 41.8% of concessions goes to Ogden. RENOVATION: Ongoing $32M renovation project over 5 years. New seats, more handicap seating, and councourse improvments. PARKING: 12,000 parking spots at $6 a car -- all parking revenue to go towards new CoreStates arena. ADVERTISING: Phillies receive all advertising revenue. LEASE: Eagles' lease expires 2011. RENT: $1.9 million - 13th highest in the league.
(Source: Jim Smith/Veterans Stadium, rent figure from a Florida Times Union article on July 24, 1994).
The King County Stadium Alternatives Task Force "appears ready to recommend that a new baseball stadium be built for the Mariners using a combination of public and private money," according to this morning's SEATTLE POST-INTELLIGENCER. A "confidential survey" of the task force's 24 members indicates that 88% favor a new stadium, but "less certain" is whether the stadium will include a retractable roof which the Mariners believe is "essential." The task force also released a financial analysis that states a roofed stadium would produce the most revenue, but that the "relatively small difference" from an open- air facility might preclude its estimated $41M additional cost (Angelo Bruscas, SEATTLE POST INTELLIGENCER, 11/16). KINGDOME COST OVER-RUNS: Members of King County Council Budget and Fiscal Management Committee "wanted some answers" yesterday from acting Kingdome Director Dick Sandaas and his stadium project manager Brian Kasen about the $18.5M cost overrun on stadium repairs. Sandaas cited an inadequate system of predicting material costs and the "unforeseen factor" that 50-60% of the insulation and sealant sprayed on the Kingdome ceiling fell to the floor as reasons. The completion date for the project has been extended to March '95. The Seahawks also submitted a claim yesterday to King County for $2.7M in lost ticket revenue and other costs during the repairs (Foster & Bruscas, SEATTLE POST-INTELLIGENCER, 11/16).