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Volume 25 No. 48

Facilities

Raiders' Las Vegas stadium will include 120,000 square feet of private club space
Photo: RAIDERS

Club level seats at the Raiders' $1.84B, 65,000-seat Las Vegas stadium will feature "climate-controlled environments, expanded stadium access, and chef-inspired food and beverages, among other luxuries," according to Mick Akers of the LAS VEGAS SUN. One of the clubs has a ground-level view so fans can see players "enter the field of play." In documents to be reviewed at tomorrow’s Las Vegas Stadium Authority meeting, the Raiders describe the club levels as "drawing on the 'strengths of the Entertainment Capital of the World' in delivering world-class entertainment and culinary arts." The stadium will include 120,000 square feet of "private club space." There is also a club planned for the "lower level sidelines between the 10-yard lines, with wider, padded seating." Additionally, the proposal calls for two clubs "located at field level on the 50-yard line behind both the home and visitor sidelines providing exclusive views of players and coaches as they enter and exit the field" (LAS VEGAS SUN, 7/18). 

GET WHAT YOU PAY FOR: In Las Vegas, Richard Velotta in a front-page piece notes PSLs for Raiders games in "reserved seating will range from $3,900 to $15,000 per seat." PSLs "went on sale" yesterday. The cheapest "reserve-seating PSLs -- $3,900 -- are for seats at the highest level of the stadium near midfield." The "highest-priced ones -- $15,000 -- are for seats closest to the field level at the four corners, between the end zone and the 10-yard lines." PSLs for end-zone seats "range from $7,500 to $8,500 each" (LAS VEGAS REVIEW-JOURNAL, 7/18). Also in Las Vegas, Alan Snel noted the Raiders are "offering three ways to pay" for the PSLs. First, if fans "pay the entire amount up front," they will get a 5% increase. A second alternative is to "pay one-third of the amount up front," a second 33% by March 1, 2019 and the final third by March 1, 2020. The final option is paying 20% of the amount "up front," 10% by March 1, 2019 and 70% "in installments." Fans also can transfer the PSL to a member of their "immediate family or a third party" and "have a right to resell" their PSL. Click here to view the PSL marketing plan (LVSPORTSBIZ.com, 7/18).

TO THIS POINT: The SUN's Akers noted in the eight months following the groundbreaking ceremony, $285M worth of work "has occurred" on the project. The money "spent to date" represents 16% of the project’s budget. Thus far, $116.8M "has been spent" on design, engineering and soft costs; $80.56M on construction; $77.8M on the land acquisition; $8.9M on premium seating and marketing program; $1.3M on utility and infrastructure costs; and $51,402 on furniture fixtures and equipment (LAS VEGAS SUN, 7/17).

LCFC's $60-65M stadium is part of a $200M development district planned for Butchertown
Photo: HOK

USL club Louisville City FC said that Cincinnati-based Fifth Third Bank will "head private financing" for the team's new soccer stadium, "adding to funding already secured from the city and the state," according to Danielle Lerner of the Louisville COURIER-JOURNAL. The $60-65M stadium, slated to open by March '20, is part of a nearly $200M "development district with hotels, retail and office buildings planned for the Butchertown neighborhood." Fifth Third Bank will "coordinate financing from multiple banks" to provide $55M for the stadium, which will be "paid back by Louisville City FC owners." Club owners will contribute roughly another $10M in cash to "complete construction." The transaction with Fifth Third Bank is "expected to close in August." Louisville City FC co-Owner Tim Mulloy previously said that the club "hopes to have a general contractor hired by August and to begin laying foundations Sept. 1." Meanwhile, Lerner notes Fifth Third Bank already owns the naming rights to Kennesaw State Univ.'s multipurpose athletic facility, and thus is "unlikely to be considered as a naming rights partner for Louisville City FC's stadium" (Louisville COURIER-JOURNAL, 7/18).

In Birmingham, Ty West reported the Univ. of Alabama System BOT "approved a lease agreement that will make the planned downtown stadium at the Birmingham-Jefferson Convention Complex the home" of UAB football starting in '21. The BOT "voted to approve a 20-year lease agreement between UAB and the BJCC Authority." The lease will start Aug. 1, 2021. For the first 10 years, rent will be $25,000 "per regular season home games, $15,000 for postseason games hosted at the stadium and $10,000 for the spring practice game." The lease contract "will be terminated" if UAB after 10 years is "not in compliance with all requirements of maintaining a football program in good standing with the NCAA or if the BJCC is in default" (BIZJOURNALS.com, 7/16).

TAKE ME HOME, COUNTRY ROADS: West Virginia AD Shane Lyons said that the school will roll out a $100M "facility campaign headlined" by $55M in football upgrades this season. In West Virginia, Sean Isabella noted the enhancements, part of a "five-year timeframe, include a new locker room, team meeting room, and coaches offices." The WVU Coliseum Complex will "receive a new video board and updated seats." Additionally, the Olympic sports will "receive a new weight room and training room." A golf facility is "also part of the project." Lyons said, "I felt we were behind some in the facility race. We're making strides to catch up with that now" (Beckley REGISTER-HERALD, 7/15).

NORMAN NEEDS: In Oklahoma City, Berry Tramel wrote the city of Norman needs a new Oklahoma basketball arena "a lot more than OU needs a new OU arena." Lloyd Noble Center is 43 years old, but is "still a solid basketball coliseum." College basketball in general has "struggled with attendance in the last decade or more," and arenas "rarely are the problem." Lots of issues have "staggered college basketball." A new OU arena "won't solve most of those problems." OU AD Joe Castiglione said that the school has a "master plan for renovating Lloyd Noble Center" (OKLAHOMAN, 7/15).

MO MONEY, MO PROBLEMS: In Las Vegas, Mark Anderson notes the cost of construction for UNLV's Fertitta Football Complex practice facility has "increased significantly," causing school officials to "delay building the interior of the second floor until additional funds are raised." UNLV AD Desiree Reed-Francois said that the "total cost has risen" to $31M, up from the $24-26M projected cost when the project was announced two years ago (LAS VEGAS REVIEW-JOURNAL, 7/18).