The Univ. of Memphis wants to "renegotiate its lease at FedExForum," as it is facing a "financial hit because of declining basketball attendance," according to a front-page piece by Phil Stukenborg of the Memphis COMMERCIAL APPEAL. The school's agreement with the Grizzlies, who operate the arena, calls for UM "to receive an $800,000 annual payment if certain attendance criteria are met." The annual payment is "reduced if the average turnstile count falls below 10,000 -- which appears to be the case this season." UM AD Tom Bowen: "It will be kind of up to the Grizzlies. [GM] Chris Wallace and I are very close. I think we can sit down and talk about the fit." He added the school is "halfway into a 20-year agreement and it's probably a good time to come together and talk about what's working and what's not." Stukenborg notes after seven straight seasons averaging "in the 16,000-plus range, the last two seasons have seen a noticeable fall." The announced attendance during the '14-15 season was 13,915, and it has dropped another 16% this season, with "average attendance of 11,721 for 17 games." But the annual $800,000 payment is "tied to a lower number than announced attendance -- turnstile count." No official numbers were available, but per-game media estimates "have ranged from 6,000 to 7,500." UM "has received reduced payments" in both the '04-05 and '06-07 seasons (Memphis COMMERCIAL APPEAL, 2/10).
GIVE ME LIBERTY: In Memphis, Tom Schad notes nearly 5,600 premium seats with backs will be installed at Liberty Bowl Memorial Stadium prior to the '16 football season, and UM "has established a seat selection process for season-ticket holders in the affected areas." The school said that the premium seats, which will also have cupholders and arm rests, "will be installed in the lower bowl on the east and west sidelines." Season tickets in the new seats "will cost $250, plus a required per-seat donation depending on the location of the seat, ranging from $150 to $25" (Memphis COMMERCIAL APPEAL, 2/10).
