The Hillsborough County Commission and the Bucs gave
approval to a new stadium lease that would keep the Bucs in Tampa
for 30 years. The Tampa City Council and Tampa Sports Authority
review the lease today, but the whole deal "hinges on the
verdict" of Tuesday's vote on a half-cent sales tax increase that
would raise funds for the facility. The team could earn $26M a
year if it rents all the luxury boxes and club seats (Larry
Doughtery, ST. PETE TIMES, 8/29).
GOOD DEAL? Highlights of the lease: Bucs pay $3.5M annually
for 30 years and pledge not to leave town while county repays 30-
year bonds; TSA has the right to obtain a court order to enforce
pledge; team keeps all proceeds for luxury boxes and at least
11,000 club seats; team gets first $2M of net stadium revenues;
team and TSA split all receipts over $2M; team sets parking
prices and gets revenue for all Bucs games; TSA manages parking;
team and TSA jointly set parking prices for non-Bucs game; team
has rights to market all permanent ads at the stadium; MLS Mutiny
and Univ. of South FL may sell "sponsorships to access to half of
field signs; team has concession rights and exclusive rights to
sell merchandise at Bucs games; team can sell naming rights; TSA
provides $12M for new practice facility; TSA provides all stadium
staff for Bucs games; TSA provides most utility service; TSA
maintains stadium; team may increased luxury boxes to 162 but has
to pay for expansion (ST. PETERSBURG TIMES, 8/29). Bucs Owner
Malcolm Glazer holds the right to place commercial developments
on property north of the new stadium but must submit each
proposal to the Hillsborough County Commission for approval
(TAMPA TRIBUNE, 8/29).
