The Tigers hold their home opener today at the new
Comerica Park, and in Detroit, Becky Yerak reports the new
park is "expected" to make the Tigers part of MLB's "nouveau
riche," as sports industry execs estimate "that new-stadium
euphoria typically lifts team values anywhere" from 10-60%
in the short term. The Tigers were valued between $120-152M
while playing at Tiger Stadium, but in relocating to
Comerica Park, the team "probably surpassed" the $200M mark.
Sportscorp President Marc Ganis: "If the Tigers perform
similarly to the Cleveland Indians, I could see the Tigers
worth more than $300 million in the not-too-distant future.
There's no intrinsic reason why the Indians should be worth
more than the Tigers." The Bonham Group Chair Dean Bonham
estimates that teams' values rise 10-20% with a new facility
and figures that the Tigers are "conservatively worth" $250-
300M going into Comerica. Bonham: "The best time in a new
facility is at the end of the first year. The worst time is
at the end of the fifth year." Meanwhile, the Tigers have
"been the subject of sales rumors," which were dismissed by
Mike Ilitch's daughter and Ilitch Ventures Exec VP Denise,
who said, "They're not true. He has no plans to sell the
team" (DETROIT NEWS, 4/11). Also in Detroit, Terry Foster
writes that while Comerica is "wonderful," the team needs to
start winning to draw continued fan support: "If this
rebirth of Detroit is to continue, the public must care
about its baseball team. The new park and the economic
impact will work only if the people come, visit and then
play downtown" (DETROIT NEWS, 4/11). Also in Detroit, Mark
Puls wrote that Comerica Park's opening adds to a
"rebuilding [of] downtown that has attracted as much as $6
billion in investment in the past two years." But it
"remains to be seen, of course, how extensive the economic
impact the ballpark will really have" on downtown's revival
(DETROIT NEWS, 4/9). The N.Y. TIMES' Nichole Christian
reports on the estimated economic impact of Comerica Park
under the header, "Detroit Sees Park As Star Player In
Redevelopment" (N.Y. TIMES, 4/11).
COMERICA BRINGS BACK PEPSI AS SPONSOR: The Tigers
announced a sponsorship and pouring rights agreement with
PepsiCo yesterday, making Pepsi the "Official Soft Drink of
Comerica Park." A 250-seat section inside Comerica will be
designated the "Pepsi Picnic Area," and a separate, Pepsi-
sponsored "Family-Value Section" will provide charitable
organizations with up to 1,700 tickets to selected games.
Pepsi signage will also be featured on scoreboards,
concourse areas, concessions stands and in printed material
throughout Comerica Park, while Pepsi's Aquafina and All
Sport logos will be on squeeze bottles, cups, coolers and
towels in both the home and away dugouts (Tigers).
MORE FOUNTAIN BEVERAGES: In Detroit, Joanne Gerstner
reported that fountains in center field will shoot water 150
feet high and tiger statues "perched on the scoreboard will
come alive with glowing red eyes and growling sounds" after
the first Tigers home run at Comerica. Denise Ilitch: "I
love the fountain. It adds a whole different dimension to
the ballpark" (DETROIT NEWS, 4/10).
