Facility Notes
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Vulcan Inc. Announces Completion
Of Rose Garden Acquisition
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Vulcan Inc. has completed the acquisition of the Rose Garden pursuant to a purchase
agreement with Portland Arena Management (Vulcan)....Churchill Downs Inc.
(CDI) completed the sale of its 62% interest in Hoosier Park to Indiana-based
Centaur. Terms of the deal were not disclosed (CDI).
CLUB UPGRADES: In Boston, Scott Van Voorhis reports Delaware North is planning
a “major expansion” of TD Banknorth Garden’s Boardroom club that includes increasing
the number of seats and memberships by 30-40%. In addition, membership fees will
increase to $16,500 from $15,000. Members have the “ability to pick and choose
games and events” at the arena, in contrast to “traditional luxury seating, which
often requires shelling out big bucks for a season’s worth of tickets” (BOSTON
HERALD, 4/3).
PROTECTING YOUR INVESTMENT: CNBC’s Darren Rovell said Virginia-based World
Access Insurance, “one of only a few firms in (the) fledgling business” of offering
ticket insurance, claims to have “insured more than $5(M) worth of sports and
event tickets and recently raised the coverage from $3,000 to $10,000 per policy.
With some tickets selling in the four-figure range, a 5% premium might be a small
price to pay.” The ticket insurance market “is expected to grow exponentially”
as the secondary ticket market grows (“Street Signs,” CNBC, 4/2).
NOTES: The Saints will play two preseason games in the Superdome this year
after not playing any at home last year. The team played in Shreveport and Jackson,
Mississippi, while the stadium was being repaired from Hurricane Katrina (New
Orleans TIMES-PICAYUNE, 4/3)....The $15.6M repair job for the Miller Park
roof “is not quite done.” Miller Park stadium district Exec Dir Mike Duckett said
that the roof “might not be at full speed until May” (MILWAUKEE JOURNAL SENTINEL,
4/3)....MLS Real Salt Lake had planned to open its new stadium with an exhibition
against Real Madrid on July 4, 2008, but with funding delays, it “likely won’t
open before August 2008” (SALT LAKE TRIBUNE, 3/31).
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