SBD/21/Facilities Venues

STATE OF THE STADIUM: THE LOUISIANA SUPERDOME

     The Saints recently signed a new lease that will keep them
in the Superdome through the year 2018.  It also gave the team
more revenue from concessions and all revenue from the sale of
luxury boxes.  Today, we examine the lease of the Saints at the
Louisiana Superdome.
STADIUM:
Louisiana Superdome, New Orleans, LA
AGE: Completed in 1975.
OWNERSHIP: Owned by the State of Louisiana
MANAGEMENT: Facility Management of Louisiana (FML) — a Spectacor Management Group.
COST: $163 million — paid for by public bonds.
CAPACITY: 68,000
LUXURY SEATS: 128 suites — team receives all revenue from the sale of luxury seating.
GAME-DAY: Game-day personnel paid for by FML.
MAINTANENCE: All maintenance covered by FML.
PARKING: 5,400 spots — $8 a car — Saints receive all revenue.
CONCESSIONS: Aramark (ARA) — Saints receive 42% of gross revenue.
ADVERSTING: FML sells adverstising — Saints receive all advertising revenue for their games.
LEASE: Expires in 2018
RENT: $900,000 — 9th lowest in NFL.

(Source: David Weidler, Superdome; rent figure from Florida Times-Union article on July 24, 1994.)
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