THE SPORTS BUSINESS DAILY continues to look at the NFL'sinfrastrucure with an examination of Philadelphia's VeteransStadium.
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 BOXES: | 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 FloridaTimes Union article on July 24, 1994).