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SBD/June 13, 2012/Facilities
MLS Earthquakes Sell All Luxury Boxes At Planned Stadium; Add Club Seats, Patio Suites
Published June 13, 2012
ROCK N' ROLL AIN'T NOISE POLLUTION: In a special to the SILICON VALLEY/SAN JOSE BUSINESS JOURNAL, Fred Dreier reports the Earthquakes' decision to "forego hosting rock concerts at its proposed stadium could cost the club" more than $1M annually. The team last September "withdrew its permit to host outdoor concerts at the proposed venue, hoping to appease government officials and local residents concerned about noise pollution." Kaval said that the move was a "'calculated business decision,' but admitted the team will take a hit." Kaval: "This is real money, we're not talking about 20 grand. We felt we had to push the thing through even if it means losing revenue." Industry sources said that concerts at soccer stadiums could gross between $800,000-2.2M, with the club earning $200,000-500,000 per show. While MLS clubs "share a percentage of game revenue with the league, concert revenue goes directly to the team." He said that the team is "instead discussing smaller events, such as World Cup and away-game viewing parties, lacrosse and rugby matches, international and collegiate soccer games and community celebrations." These events can earn "anywhere between a few hundred dollars and low six figures, depending on the cost structuring, number of people, promotional costs and other considerations" (SILICON VALLEY/SAN JOSE BUSINESS JOURNAL, 6/8 issue).