MLS Wizards' Long-Term Success In K.C. May Hinge On Stadium
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Wizards Hoping To Build
Stadium In New Development |
The long-term success of the MLS Wizards "largely depends on an ambitious plan" by the franchise's ownership group, OnGoal, to "build a soccer-specific stadium as part of The Trails, a billion-dollar development," according to Alan Goforth in a special to the K.C. STAR. As envisioned, the stadium would be the "centerpiece of a 450-acre retail, office and entertainment complex." OnGoal LLC CEO and Wizards President Robb Heineman said, "We want to have the stadium open for first kick 2011. Based on the current timeline, that's very doable." Heineman: "We probably will do 60 events a year at the stadium, about half of which are soccer matches." However, Goforth notes the project's "complex financing package combines numerous public and private components," and "there are complications." Although the K.C. City Council approved a $273M city and state tax incentive package for The Trails plan in December '07, OnGoal "returned to City Hall last November seeking to 'enhance' the deal." The revisions were "needed because of the downturn in the market for TIF revenue bonds." The city now "has been asked to back the bonds with its credit ... or become more directly involved in financing the project," and K.C. Finance Dir Jeff Yates said that talks "had been inconclusive." Meanwhile, OnGoal is "working aggressively to build a championship-caliber team while solidifying its fan and sponsorship base." The Wizards last year started playing home games at 10,385-seat CommunityAmerica Ballpark, and attendance last season averaged 10,673, or 107% of capacity. The team "expects ticket sales to remain strong this season," but the economic downturn is "causing the Wizards to be more strategic with marketing." Wizard Exec VP & General Counsel Greg Cotton said that the franchise was "seeing a lot of new business customers but also a dropoff in premium-seating numbers." Goforth notes corporate sponsorships, which "account for half of the team's revenues, are a bigger challenge" (K.C. STAR, 3/31).
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