Slow And Steady: Davidson’s PS&E Continues Growth

Palace Sports & Entertainment (PS&E) Chair Bill Davidson, whose company owns the Pistons and Lightning, among other sports properties, is “hunting for new business opportunities such as buying minor league sports teams and managing arenas to generate more revenue,” according to Alan Snel of the TAMPA TRIBUNE. But Lightning President Ron Campbell said that expansion “will be measured and cautious.” Campbell: “We’re trying to grow but grow under control. From a business point of view, I’ve been with Mr. Davidson for 25 years, and we’ve found a way to grow nearly every year.” Snel notes PS&E recently purchased the Single-A South Atlantic League Asheville Tourists for $6M. The Lightning also bought a 40% interest in their minor league affiliate, the ECHL Johnstown Chiefs, for $200,000. Campbell “envisions running the [Tourists] for two years, then setting up a business model that could be duplicated in other markets.” Meanwhile, in running the St. Pete Times Forum, PS&E “eliminated agreements for subcontractors to perform jobs such as cleaning the arena and providing security and took all activities in-house with the exception of food service.” The only subcontractor at the arena is Sportservice, and Lightning COO Sean Henry said that the deal “allows for [PS&E] to dictate what food is served and how the staff is deployed in the building.” Campbell said that it is a “model that can be extended to other markets” (TAMPA TRIBUNE, 8/26).