Only Eight Suites Remain Available At New Twins Ballpark
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| Twins Close To Selling Out Suites In New Ballpark |
About two years before its scheduled opening, 47 of the 55 suites at the Twins' new ballpark are leased -- "including the 14 most expensive ones -- and the team expects them all to be snapped up by 2010," according to Heron Estrada of the Minneapolis STAR-TRIBUNE. The suites will bring in "about $8[M] a year, or a potential $240[M] during the team's 30-year stadium lease." Twins Owner Carl Pohlad and the team "expect to pull in [$1.2-1.5B] from new revenue streams during their lease when they add in receipts from new club seats, restaurants, concessions, concerts and stadium advertising." Twins President Dave St. Peter noted that the ballpark "will generate [$40-50M] a year in new revenues." St. Peter: "That's all new money." Estrada noted that is because the team will get "virtually all of the revenues at the 40,000-seat ballpark -- unlike their lease at the Metrodome, where they control little of the revenue" from suites, advertising and other events. St. Peter said that the team's costs also "will increase -- from about $4[M] at the Metrodome to about $16[M] a year" at the new ballpark. But St. Peter said, "This is the antithesis of the Metrodome. We are going from the worst lease situation in [MLB] to one of the best." The Twins are creating 3,000 premium Legends Club seats and 400 exclusive Champions Club seats which go for between $175-275 per game and are all-inclusive. Twins Exec Dir of Public Affairs Kevin Smith said that there will be tickets for as low as $12 at the new ballpark, and the average ticket price "might be around $17" (Minneapolis STAR-TRIBUNE, 4/26).
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