In a September 11 letter from SkyDome President & CEO
Patrick McDougall to SkyDome directors, the facility was
reported to "have a cash deficit" of C$2.9M by the end of
the year, according to Paul Brent of the FINANCIAL POST.
The shortfall is a result of "lower than forecast attendance
at Blue Jay baseball games and the cost of selling luxury
corporate boxes." Corporate box holders, who pay C$100,000
to C$250,000 a year, will be encouraged to renew their
leases, which expire next year after 10-year terms. A
source close to SkyDome said that the company will change
some of their practices concerning luxury boxes. Among the
changes will be including ticket costs in the price of the
box, lowering catering costs and allowing companies to buy
less than a full season's worth of games. SkyDome would
also like to sell naming rights to the facility, but Molson
Breweries, which holds veto rights on a naming deal, has
imposed a "prohibition" blocking the stadium from taking on
a corporate name. SkyDome Dir George Taylor, former Labatt
President, "has held talks" with Molson in an effort to get
them to waive this "prohibition" (FINANCIAL POST, 9/22).
