SBD/Issue 165/Facilities & Venues

Facility Notes

Univ. of Louisville AD Tom Jurich Thursday said that he "expects to scale back on the upper-deck seats" planned for the expansion of Papa John's Cardinal Stadium, putting the stadium's planned capacity at 56,500, down from the previously planned 60,000. Jurich said that costs "escalated because the project was on hold for a year after it didn't receive state approval." The cost of the renovation now is about $70M (Louisville COURIER-JOURNAL, 5/16).

Wembley Stadium Loses Nearly
$42M In First Year Of Operations
FIRST-YEAR LOSS: Wembley National Stadium Thursday said that it lost about US$41.67M in its first year of operation, not including interest payments of about US$77.9M the FA owes for its US$674M loan on the stadium. In London, Rod Gilmour notes Wembley's loss "stems from heavy start-up costs in its first year of operating as well as bringing in extra security staff." The FA has said that Wembley will "generate large profits in the future, especially with there being no limit on the number of events" the stadium can host (London TELEGRAPH, 5/16).

ON THE TEE: A draft document for the 2015 U.S. Open shows the USGA will pay Pierce County (WA) $2.5M to lease Chambers Bay Golf Course. Under the contract, which soon will go to the County Council for approval, the county also will "get a share of the proceeds from the sale of hospitality packages, food and beverages, and merchandise." As part of the agreement, the USGA will "bear most of the cost of staging the tournament and will keep most of the revenue, including all of the ticket sales." The county will pay for "significant modifications to the course in preparation for the tournament," and also must build a "new practice facility and generally assist the [USGA] with tournament preparations" (Tacoma NEWS TRIBUNE, 5/16).

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