CSL Executive Presentation - Colorado State University

Report
Firm Background
CSL International
 Industry-leading sports & entertainment facility
feasibility advisor
 Founded in 1988 by former Partners, Directors &
Consultants with Coopers & Lybrand (now PwC)
Sports Practice
EXPERTISE:
Market Demand
Facility Program
Financial Feasibility
 Based in Dallas, TX
Marketing Strategies
 Over 120 years of collective experience
 Over 1,000 feasibility studies completed
 Extensive collegiate experience (Baylor, Minnesota, Akron, etc.)
 Proven track record with credibility in the marketplace
 Independent, unbiased research and analysis
1
Operational Reviews
Economic Impacts
Funding Plans
Valuations
Business Plans
Collegiate Stadium Experience
TCF Bank Stadium
Minnesota
Autzen Stadium
Oregon
Bronco Stadium
Boise State
Baylor Stadium
Baylor
Husky Stadium
Washington
Notre Dame Stadium
Notre Dame
FAU Stadium
Florida Atlantic
Martin Stadium
Washington State
Kenan Stadium
North Carolina
Kyle Field
Texas A&M
Sun Devil Stadium
Arizona State
Ross-Ade Stadium
Purdue
Amon Carter Stadium
Texas Christian
Reser Stadium
Oregon State
Spartan Stadium
Michigan State
Darrell K. Royal Stadium
Texas
Folsom Field
Colorado
Williams-Brice Stadium
South Carolina
Jones AT&T Stadium
Texas Tech
Scott Stadium
Virginia
Tiger Stadium
Louisiana State
Jack Trice Stadium
Iowa State
Rutgers Stadium
Rutgers
Fargodome
North Dakota State
Lane Stadium
Virginia Tech
Nippert Stadium
Cincinnati
Delaware Stadium
Delaware
Kinnick Stadium
Iowa
Milan Puskar Stadium
West Virginia
Michigan Stadium
Michigan
Proposed Stadium
Memphis
Beaver Stadium
Penn State
Paulson Stadium
Georgia Southern
2
CSL Premium Seating Recommendations
TCF BANK STADIUM
University of Minnesota
Year Opened
2009
Capacity
50,805
Project Cost
$303M
CSL Recommendations vs. Actual Building Program
CSL Recommendations
Inventory
Seating Area
Low
High
TCF Bank Stadium Premium Seating
Average Annual Price
Low
High
Seating Area
Inventory
Current
%
Sold
Average
Annual
Price
250
1,200
60%
100%
$2,400
$1,800
Club Seats:
Indoor
Outdoor
250
1,000
300
1,200
$2,800
$1,850
$3,000
$2,000
Club Seats:
Indoor
Outdoor
Loge Boxes
45
60
$13,500
$15,000
Loge Boxes
54
100%
$11,300
Luxury Suites
35
40
$40,000
$42,500
Luxury Suites
37
84%
$43,000
3
CSL Premium Seating Recommendations
University of Oregon
CSL Recommendations
Seating Area
Club Seats:
Outdoor
Outdoor
Luxury Suites
Actual Building Program
Inventory
Average
Annual
Price
3,000
350
$1,000
$600
32
$40,000
Seating Area
Club Seats:
Outdoor
Outdoor
Luxury Suites
Inventory
Current
%
Sold
Average
Annual
Price
3,000
381
100%
100%
$750
$1,250
31
100%
$42,500
University of Iowa
CSL Recommendations
Seating Area
Club Seats:
Outdoor
Indoor
Luxury Suites
Actual Building Program
Inventory
Average
Annual
Price
1,150
310
$2,300
$5,000
40
$56,000
Seating Area
Club Seats:
Outdoor
Indoor
Luxury Suites
Inventory
Current
%
Sold
Average
Annual
Price
1,150
130
98%
100%
$2,200
$5,000
45
96%
$55,000
Several recent CSL
collegiate football
stadium renovation
projects
In general, schools
followed CSL building
recommendations.
Oregon State University
CSL Recommendations
Actual Building Program
Inventory
Average
Annual
Price
2,040
1,890
$1,700
$1,700
Club Seats:
Outdoor
Indoor
3,100
200
80%
100%
$1,325
$3,750
Loge Boxes
52
$10,700
Loge Boxes
52
100%
$12,000
Luxury Suites
20
$43,000
Luxury Suites
22
100%
$42,800
Seating Area
Club Seats:
Scenario #1
Scenario #2
(1)
(2)
Seating Area
Inventory
Current
%
Sold
Average
Annual
Price
(1) Assumed no loge boxes or indoor club seats built.
(2) Assumed loge boxes were built but indoor club seats were not built.
4
Premium seating
inventories between
80% and 100% sold
Study Components
Competitive
Facilities
Comparable
Facilities
Historical
Analysis
Market Demand
&
Building
Program
Financial
Projections
&
Funding
Potential
5
Market
Surveys
Mountain West Conference Premium Seating
Luxury Suites
School
Stadium
Boise State
UNLV
New Mexico
Air Force
Wyoming
Nevada
Colorado State
Fresno State
San Jose State
San Diego State
Hawaii
Utah State
Bronco Stadium
Sam Boyd Stadium
University Stadium
Falcon Stadium
War Memorial Stadium
Mackay Stadium
Hughes Stadium
Bulldog Stadium
Spartan Stadium
Qualcomm Stadium
Aloha Stadium
Romney Stadium
(1)
(2)
Average (excluding CSU)
Total
Seating
Capacity
#
Suites
37,000
36,800
39,224
52,480
29,181
29,993
32,500
41,031
30,456
70,561
50,000
25,413
38
16
9
9
10
58
12
22
12
8
0
0
41,673
20
(3)
Loge Boxes
%
Sold
Average
Annual
Cost
#
Boxes
100%
100%
100%
100%
100%
100%
92%
100%
100%
100%
n/a
n/a
$45,000
$50,000
$21,000
$20,000
$40,000
$16,500
$28,000
$35,000
$12,000
$8,400
n/a
n/a
100%
$28,000
Club Seats
%
Sold
Average
Annual
Cost
Total
Actual
Annual
Revenue
Total
Potential
Annual
Revenue
787
488
1,597
825
256
0
427
0
0
0
0
0
100%
100%
100%
100%
100%
n/a
87%
n/a
n/a
n/a
n/a
n/a
$2,200
$1,500
$839
$1,072
$2,500
n/a
$1,500
n/a
n/a
n/a
n/a
n/a
$3,957,000
$1,532,000
$1,529,000
$1,064,000
$1,040,000
$957,000
$868,000
$770,000
$144,000
$67,000
n/a
n/a
$3,957,000
$1,532,000
$1,529,000
$1,064,000
$1,040,000
$957,000
$977,000
$770,000
$144,000
$67,000
n/a
n/a
791
100%
$1,622
$1,229,000
$1,229,000
%
Sold
Average
Annual
Cost
#
Seats
43
0
0
0
0
0
0
0
0
0
0
0
100%
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$12,000
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
43
100%
$12,000
(1) San Jose State is currently adding six 24-seat suites to the North end zone of Spartan Stadium.
(2) San Diego State receives eight suites per year in Qualcomm Stadium, which cost $1,200 per game. The City also allocates club seats for use by the University, but information was not available.
(3) Hawaii offers field level suites for $3,500 per game, which includes 24 tickets and catering. Inventory unavailable at the time of this report.
Note: Average inventory and pricing reflects only those schools that offer each concept.
Source: Interviews with athletic department officials, Revenues from Sports Venues College Edition
*Utah State and San Jose State will become members of the Mountain West Conference in 2013, following the
departure of Boise State and San Diego State.
6
Survey Completion Statistics
Number of
Survey Percentage of
Responses
Population
Estimated
Population
Percentage of
Survey
Responses
Margin of
Error
Ram Club Donors
Non-Ram Club Athletics Donors
Non-Ram Club Football Season Ticket Holders
Non-Ram Club Occasional Ticket Buyers
Other
6,765
6,674
2,263
9,879
114,509
822
224
178
1,435
3,840
12%
3%
8%
15%
3%
13%
3%
3%
22%
59%
3.2%
6.4%
7.1%
2.4%
1.6%
Total
140,090
6,499
5%
100%
1.2%
(2)
(3)
(1) Based on a 95% confidence interval, indicating that we would expect to generate same survey results 95 times out of 100, plus or minus 1.2 percent.
(2) Includes Ram Club donors since 2000.
(3) Includes CSU faculty and staff, CSU alumni living within a 100-mile radius, University donors living within 100-mile radius, former student-athletes,
and alumni association board members.
Note: Responses based on a total of 69,390 surveys sent out. Total response rate of approximately 9.4 percent.
7
(1)
Survey Respondent Status
Incidence Rate
Ram Non-Ram Club
Club
Athletics
Donors
Donors
Status
Ram Club Donor
Athletics Donor (non-Ram Club)
Football Season Ticket Holder
Occasional Football Ticket Buyer
Alumni
University Donor (non-athletic)
Corporate Sponsor
Faculty/Staff
Student (current only)
None of the Above
100%
11%
60%
24%
76%
37%
3%
10%
1%
0%
Non-Donor
Season Ticket
Holders
Non-Donor
Occasional
Ticket Buyers
Other
All
Respondents
0%
0%
100%
6%
70%
20%
2%
17%
2%
0%
0%
0%
0%
100%
75%
24%
1%
21%
3%
0%
0%
0%
0%
0%
69%
12%
0%
33%
7%
2%
13%
5%
11%
27%
72%
19%
1%
26%
5%
1%
0%
100%
15%
53%
80%
44%
2%
11%
2%
0%
*Multiple responses were accepted.
Most Common Selections per Survey Group
Ram Club Donors
•
•
•
Non-Ram Club Athletic Donors
Alumni – 76%
FB season ticket holder – 60%
University donor – 37%
•
•
•
Alumni – 75%
University donor – 24%
Faculty / Staff – 21%
•
•
•
Alumni – 80%
Occasional FB ticket buyer – 53%
University donor – 44%
Occasional Ticket Buyers
•
•
•
Season Ticket Holders
Other
8
•
•
•
Alumni – 69%
Faculty / Staff – 33%
University donor – 12%
Alumni – 70%
University donor – 20%
Faculty / Staff – 17%
Attendance Impact of New Stadium
Average Games per Season
Historical Anticipated New Stadium
Attendance Attendance
Increase
at Hughes
at New
(Decrease)
Stadium
Stadium
Attendance
Percentage
Increase
(Decrease)
Attendance
Ram Club
Athletics Donor (non-Ram Club)
Non-Donor Football Season Ticket Buyer
Non-Donor Occassional Football Ticket Buyer
Other
4.1
2.4
5.2
1.8
0.8
4.7
3.0
4.6
2.3
1.1
0.6
0.6
-0.6
0.6
0.3
14%
24%
-11%
32%
33%
OVERALL
1.6
2.0
0.4
22%
9
Estimated CSU New Stadium Attendance
Estimated Average Attendance
Based on Historical Attendance
10-Year CSU Average Attendance
Estimated Average Tickets Out - LOW
Year
Total
Seating
Capacity
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
32,500
32,500
32,500
32,500
32,500
32,500
32,500
30,000
30,000
30,000
10-Year Average
22,637 (2009-11 Average Tickets Out)
x 1.22 (new stadium factor from survey)
Attendance
Average
as %
(1)
Attendance of Capacity
21,867
22,400
23,643
21,008
21,794
24,183
29,347
27,296
30,631
30,461
67.3%
68.9%
72.7%
64.6%
67.1%
74.4%
90.3%
91.0%
102.1%
101.5%
25,263
80.0%
27,617 (attendance in new stadium)
Estimated Average Tickets Out - BASE
25,263 (10-Year Average Tickets Out)
x 1.22 (new stadium factor from survey)
30,821 (attendance in new stadium)
Estimated Average Tickets Out - HIGH
(1) Average attendance reflects "Total Tickets Out".
30,631 (10-Year High Average Tickets Out)
x 1.22 (new stadium factor from survey)
37,370 (attendance in new stadium)
10
Premium Seating Concepts Tested
Priority Seats
Loge Boxes
Field Level Club Memberships
Luxury Suites
11
Club Seats
Club Suites
Summary of Premium Seating Interest
Premium
Seating
Concept
All Survey Groups
Definitely
Likely
Possibly
Total
Initial Interest - Before Pricing
28%
22%
29%
79%
Interest at Various Pricing Levels
$500
$450
$400
30%
32%
37%
34%
34%
31%
34%
31%
28%
97%
97%
97%
Initial Interest - Before Pricing
6%
7%
20%
34%
Interest at Various Pricing Levels
$2,000
$1,500
$1,000
2%
3%
5%
5%
6%
9%
31%
30%
33%
38%
38%
47%
Initial Interest - Before Pricing
2%
3%
13%
17%
Interest at Various Pricing Levels
$15,000
$12,000
$9,000
1%
2%
2%
2%
1%
3%
16%
14%
18%
19%
16%
23%
Initial Interest - Before Pricing
1%
1%
6%
8%
Interest at Various Pricing Levels
$50,000
$40,000
$30,000
3%
3%
3%
4%
2%
3%
17%
17%
21%
23%
23%
27%
Initial Interest - Before Pricing
1%
1%
7%
9%
Interest at Various Pricing Levels
$27,500
$22,500
$17,500
3%
3%
4%
4%
4%
5%
22%
21%
31%
28%
29%
39%
Field Level Club Memberships:
Club Seats:
Loge Boxes:
Luxury Suites:
Club Suites:
Note: Initial interest questions asked only of those respondents indicating an interest in attending games in a new stadium.
Note: Only those respondents indicating an initial interest in each seating concept were asked their interest at each price point.
12
Recommended Building Program
Recommended Building Program
Total Capacity:
Approx. 35,000 to 45,000 seats
Premium Seating Program:
15 to 25 Luxury Suites
15 to 21 Club Suites
20 to 30 Loge Boxes
1,100 to 2,000 Club Seats
1,100 to 2,000 Field Level Club Memberships
Priority Seating Program:
(1)
(2)
(3)
11,000 to 19,000 seats
(1) 16-s ea t l uxury s ui tes .
(2) 8-s ea t cl ub s ui tes .
(3) 4-s ea t l oge boxes .
Priority / Premium Seating Matrix
Inventory
Seating Concept
Priority Seats - Goal line to 20's
Priority Seats - 20's to 40's
Priority Seats - Between 40's
Field Level Club Memberships
Club Seats
Loge Boxes
Luxury Suites
Club Suites
Annual Price
Low
High
Low
High
Average
4,000
4,000
3,000
1,100
1,100
20
15
15
6,500
6,500
5,500
2,000
2,000
30
25
21
$200
$400
$600
$400
$1,000
$9,000
$30,000
$17,500
$200
$400
$600
$500
$2,000
$15,000
$50,000
$27,500
$200
$400
$600
$495
$1,727
$11,609
$40,000
$22,800
Total Annual Revenue
(1) Based on weighted average.
Total Annual Revenue
13
(1)
Low
High
$800,000
$1,600,000
$1,800,000
$544,000
$1,900,000
$232,000
$600,000
$335,000
$1,300,000
$2,600,000
$3,300,000
$989,000
$3,455,000
$348,000
$1,000,000
$479,000
$7,811,000
$13,471,000
Recent Collegiate Naming Rights Values
Naming
Rights
Value
Stadium
School
Boone Pickens Stadium
Autzen Stadium
TCF Bank Stadium
Apogee Stadium
Bright House Networks Stadium
Capital One Field at Byrd Stadium
Jones AT&T Stadium
High Point Solutions Stadium
InfoCision Stadium
Papa John's Cardinal Stadium
Houchens Industries-L.T. Smith Stadium
Oklahoma State
Oregon
Minnesota
North Texas
Central Florida
Maryland
Texas Tech
Rutgers
Akron
Louisville
Western Kentucky
Average
Median
$165,000,000
$45,000,000
$35,000,000
$20,000,000
$15,000,000
$20,000,000
$20,000,000
$6,500,000
$10,000,000
$15,000,000
$5,000,000
$32,000,000
$20,000,000
Duration
Average
Annual
Revenue
30 *
30 *
25
20
15
25
25
10
20
44
30 *
$5,500,000
$1,500,000
$1,400,000
$1,000,000
$1,000,000
$800,000
$800,000
$650,000
$500,000
$341,000
$167,000
25
25
$1,242,000
$800,000
*Note: Boone Pickens Stadium, Autzen Stadium, and Houchens Industries-L.T. Smith Stadium have lifetime naming rights agreements.
For purposes of a comparative analysis, the term has been assumed to be 30 years, which is generally the useful life of a sports venue.
14
Assumptions Used in Financial Projections
Low
Scenario
Base
Scenario
High
Scenario
Average "Tickets Out" - Year 1
Average Paid Attendance - Year 1
Average Individual Ticket Price
Average Season Ticket Price
35,000
25,000
$48.00
$210
40,000
30,000
$52.50
$250
45,000
35,000
$60.00
$300
Priority Seats:
$200 Donation (90% sold)
$400 Donation (95% sold)
$600 Donation (95% sold)
Total
4,000
4,000
3,000
11,000
5,250
5,250
4,250
14,750
6,500
6,500
5,500
18,500
1,100
1,100
20
15
15
1,500
1,500
25
18
20
2,000
2,000
30
21
25
$6.50
$20.00
$8.50
$25.00
$10.50
$30.00
$1.00
$2.00
$3.00
$10.00
$12.00
$14.00
$2.00
$1.00
$2.00
$1.00
$2.00
$1.00
$400,000
$3,129,000
$500,000
$3,629,000
$750,000
$4,129,000
Other Event Revenue
$100,000
$150,000
$200,000
Game Day Expenses
Other Operating Expenses
$480,000
$925,000
$600,000
$1,140,000
$900,000
$1,555,000
Premium Seats:
Field Level Club Memberships - $500 (90% sold)
Club Seats - $1,700 (90% sold)
Loge Boxes (4 seats) - $11,500 (90% sold)
Club Suites (8 seats) - $22,500 (90% sold)
Luxury Suites (16 seats) - $40,000 (90% sold)
Concession Per Cap:
Non-Premium
Premium
Merchandise Per Cap:
All Attendees
Parking:
90% captured by University parking
Facility Fee:
Single-Game Football Tickets
Single-Game Men's & Women's Basketball / Volleyball Tickets
Stadium Naming Rights (Cash only)
Advertising / Sponsorship
Note: Revenues and expenses have been inflated by 3 percent per year over 30-year term.
15
CSL has developed 3
potential operating
scenarios.
Attendance has been
inflated by 4 percent
per year from Year 1
to Year 5.
Attendance remains
constant after Year 5.
Year 1 Operating Comparison
New Football Stadium Projected Financial Operations
Year 1 Operating Comparison
Low
Scenario
Base
Scenario
High
Scenario
$3,310,000
2,840,000
3,950,000
3,229,000
633,800
53,800
423,000
3,129,096
400,000
138,000
55,219
150,000
100,000
$3,840,000
4,450,000
5,363,000
4,314,000
971,000
125,400
584,000
3,629,096
500,000
146,400
55,219
250,000
150,000
$4,610,000
6,660,000
6,775,000
5,596,000
1,379,500
214,900
766,000
4,129,096
750,000
153,600
55,219
350,000
200,000
$18,412,000
$24,378,000
$31,639,000
$200,000
15,000
35,000
75,000
200,000
400,000
480,000
$225,000
25,000
40,000
100,000
250,000
500,000
600,000
$300,000
35,000
45,000
125,000
300,000
750,000
900,000
$1,405,000
$1,740,000
$2,455,000
INCOME FROM NEW STADIUM OPERATIONS
$17,007,000
$22,638,000
$29,184,000
Less: Existing Income from Current Stadium
$6,680,857
$6,680,857
$6,680,857
$10,326,000
$15,957,000
$22,503,000
REVENUES:
Individual Game Tickets
Season Tickets
Priority Seat Donations
Premium Seating
Concessions, net
Merchandise, net
Parking, net
Advertising / Sponsorship
Stadium Naming Rights
Facility Development Fee - $2.00 per Single-Game Football Ticket
Facility Development Fee - $1.00 per Single-Game MBB, WBB, VB Ticket
Non-Game Day Club Rentals
Other Events
TOTAL REVENUES
EXPENSES:
Salaries and Benefits
Supplies
General Operating Services
Professional Services
Repairs & Maintenance
Utilities
Game-Day Expenses
TOTAL
Total EXPENSES
Expenses
INCREMENTAL NET STADIUM REVENUES
16
Low Operating Scenario Financial Projections
New Football Stadium Projected Financial Operations
Low Operating Scenario
REVENUES:
Individual Game Tickets
Season Tickets
Priority Seat Donations
Premium Seating
Concessions, net
Merchandise, net
Parking, net
Advertising / Sponsorship
Stadium Naming Rights
Facility Development Fee - $2.00 per Single-Game Football Ticket
Facility Development Fee - $1.00 per Single-Game MBB, WBB, VB Ticket
Non-Game Day Club Rentals
Other Events
TOTAL REVENUES
EXPENSES:
Salaries and Benefits
Supplies
General Operating Services
Professional Services
Repairs & Maintenance
Utilities
Game-Day Expenses
TOTAL
Total EXPENSES
Expenses
INCOME FROM NEW STADIUM OPERATIONS
Less: Existing Income from Current Stadium
INCREMENTAL NET STADIUM REVENUES
Year 1
Year 2
Year 3
Year 10
Year 20
Year 30
$3,310,000
2,840,000
3,950,000
3,229,000
633,800
53,800
423,000
3,129,096
400,000
138,000
55,219
150,000
100,000
$3,550,000
3,040,000
4,069,000
3,329,000
772,600
66,500
514,000
3,223,000
412,000
143,520
55,219
155,000
103,000
$3,800,000
3,250,000
4,191,000
3,422,000
817,600
70,500
530,000
3,320,000
424,360
149,261
55,219
160,000
106,100
$5,060,000
4,330,000
5,153,000
4,208,000
1,061,700
91,900
846,000
4,085,000
521,909
161,440
55,219
197,000
130,600
$6,790,000
5,820,000
6,926,000
5,665,000
1,427,200
123,500
1,410,000
5,490,000
701,402
161,440
55,219
264,000
175,500
$9,130,000
7,820,000
9,309,000
7,606,000
1,917,400
166,000
1,974,000
7,380,000
942,626
161,440
55,219
354,000
236,000
$18,412,000
$19,433,000
$20,296,000
$25,902,000
$35,009,000
$47,052,000
$200,000
15,000
35,000
75,000
200,000
400,000
480,000
$206,000
15,450
36,050
77,250
206,000
412,000
494,400
$212,000
15,914
37,132
79,568
212,180
424,360
509,232
$261,000
19,572
45,667
97,858
260,955
521,909
626,291
$351,000
26,303
61,373
131,513
350,701
701,402
841,683
$473,000
35,348
82,480
176,742
471,313
942,626
1,131,151
$1,405,000
$1,447,150
$1,490,385
$1,833,252
$2,463,975
$3,312,661
$17,007,000
$17,985,850
$18,805,616
$24,068,748
$32,545,025
$43,739,339
$6,680,857
$6,881,283
$7,088,000
$8,718,000
$11,715,000
$15,744,000
$10,326,000
$11,105,000
$11,718,000
$15,351,000
$20,830,000
$27,995,000
17
Base Operating Scenario Financial Projections
New Football Stadium Projected Financial Operations
Base Operating Scenario
REVENUES:
Individual Game Tickets
Season Tickets
Priority Seat Donations
Premium Seating
Concessions, net
Merchandise, net
Parking, net
Advertising / Sponsorship
Stadium Naming Rights
Facility Development Fee - $2.00 per Single-Game Football Ticket
Facility Development Fee - $1.00 per Single-Game MBB, WBB, VB Ticket
Non-Game Day Club Rentals
Other Events
TOTAL REVENUES
EXPENSES:
Salaries and Benefits
Supplies
General Operating Services
Professional Services
Repairs & Maintenance
Utilities
Game-Day Expenses
TOTAL
Total EXPENSES
Expenses
INCOME FROM NEW STADIUM OPERATIONS
Less: Existing Income from Current Stadium
INCREMENTAL NET STADIUM REVENUES
Year 1
Year 2
Year 3
Year 10
Year 20
Year 30
$3,840,000
4,450,000
5,363,000
4,314,000
971,000
125,400
584,000
3,629,096
500,000
146,400
55,219
250,000
150,000
$4,120,000
4,770,000
5,523,000
4,441,000
1,162,800
152,200
698,000
3,738,000
515,000
152,256
55,219
258,000
154,500
$4,410,000
5,110,000
5,689,000
4,573,000
1,231,700
161,500
720,000
3,850,000
530,450
158,346
55,219
266,000
159,100
$5,870,000
6,790,000
6,997,000
5,629,000
1,602,700
211,100
1,090,000
4,736,000
652,387
171,267
55,219
327,000
195,700
$7,880,000
9,130,000
9,403,000
7,561,000
2,153,500
283,700
1,730,000
6,365,000
876,753
171,267
55,219
439,000
262,900
$10,590,000
12,270,000
12,637,000
10,168,000
2,894,000
381,200
2,371,000
8,555,000
1,178,283
171,267
55,219
590,000
353,300
$24,378,000
$25,740,000
$26,914,000
$34,327,000
$46,311,000
$62,214,000
$225,000
$25,000
$40,000
$100,000
$250,000
$500,000
$600,000
$231,750
$25,750
$41,200
$103,000
$257,500
$515,000
$618,000
$239,000
$26,523
$42,436
$106,090
$265,225
$530,450
$636,540
$294,000
$32,619
$52,191
$130,477
$326,193
$652,387
$782,864
$396,000
$43,838
$70,140
$175,351
$438,377
$876,753
$1,052,104
$533,000
$58,914
$94,263
$235,657
$589,141
$1,178,283
$1,413,939
$1,740,000
$1,792,200
$1,846,264
$2,270,731
$3,052,562
$4,103,197
$22,638,000
$23,947,800
$25,067,737
$32,056,269
$43,258,438
$58,110,803
$6,680,857
$6,881,283
$7,088,000
$8,718,000
$11,715,000
$15,744,000
$15,957,000
$17,067,000
$17,980,000
$23,338,000
$31,543,000
$42,367,000
18
High Operating Scenario Financial Projections
New Football Stadium Projected Financial Operations
High Operating Scenario
REVENUES:
Individual Game Tickets
Season Tickets
Priority Seat Donations
Premium Seating
Concessions, net
Merchandise, net
Parking, net
Advertising / Sponsorship
Stadium Naming Rights
Facility Development Fee - $2.00 per Single-Game Football Ticket
Facility Development Fee - $1.00 per Single-Game MBB, WBB, VB Ticket
Non-Game Day Club Rentals
Other Events
TOTAL REVENUES
EXPENSES:
Salaries and Benefits
Supplies
General Operating Services
Professional Services
Repairs & Maintenance
Utilities
Game-Day Expenses
TOTAL
Total EXPENSES
Expenses
INCOME FROM NEW STADIUM OPERATIONS
Less: Existing Income from Current Stadium
INCREMENTAL NET STADIUM REVENUES
Year 1
Year 2
Year 3
Year 10
Year 20
Year 30
$4,610,000
6,660,000
6,775,000
5,596,000
1,379,500
214,900
766,000
4,129,096
750,000
153,600
55,219
350,000
200,000
$4,940,000
7,130,000
6,978,000
5,767,000
1,629,100
256,900
904,000
4,253,000
772,500
159,744
55,219
361,000
206,000
$5,290,000
7,640,000
7,187,000
5,931,000
1,725,900
273,000
935,000
4,381,000
795,675
166,134
55,219
372,000
212,200
$7,030,000
10,170,000
8,840,000
7,297,000
2,249,500
357,500
1,358,000
5,387,000
978,580
179,690
55,219
457,000
261,200
$9,450,000
13,660,000
11,880,000
9,814,000
3,023,800
480,400
2,073,000
7,240,000
1,315,130
179,690
55,219
614,000
351,000
$12,700,000
18,360,000
15,966,000
13,186,000
4,064,100
645,600
2,788,000
9,728,000
1,767,424
179,690
55,219
825,000
471,700
$31,639,000
$33,412,000
$34,964,000
$44,621,000
$60,136,000
$80,737,000
$300,000
35,000
45,000
125,000
300,000
750,000
900,000
$309,000
36,050
46,350
128,750
309,000
772,500
927,000
$318,000
37,132
47,741
132,613
318,270
795,675
954,810
$391,000
45,667
58,715
163,097
391,432
978,580
1,174,296
$525,000
61,373
78,908
219,188
526,052
1,315,130
1,578,155
$706,000
82,480
106,045
294,571
706,970
1,767,424
2,120,909
$2,455,000
$2,528,650
$2,604,240
$3,202,786
$4,303,806
$5,784,399
$29,184,000
$30,883,350
$32,359,761
$41,418,214
$55,832,194
$74,952,601
$6,680,857
$6,881,283
$7,088,000
$8,718,000
$11,715,000
$15,744,000
$22,503,000
$24,002,000
$25,272,000
$32,700,000
$44,117,000
$59,209,000
19

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