Article about finances for NY Mets stadium - sorta Bills related

[\GoBillsInDallas/]

We all talk about the "positive economic impact" that a new Bills stadium would have for the team, but here are some numbers that show otherwise:

 

http://www.newsday.com/sports/baseball/mets/mets-income-from-citi-field-dips-1.5682633

[l< j]

Good find.

 

From the article:

 

obert Boland, academic chair of New York University's Tisch Center for Hospitality, Tourism and Sports Management, said the Mets did not enjoy "the honeymoon period that was once typical for a new stadium" because fans quickly discovered they were paying to watch a team that was not as good as previous seasons.

 

So even with a fancy stadium, the quality of the team still matters? Interesting.

[KD in CA]

Americans may have been 'wowwed' by a fancy new stadium decades ago when such things were unique, but in today's world when you're tearing down the fancy new stadium you just built 20 years ago to build an even fancier, newer stadium the whole thing has kinda lost its luster. Taxpayer funded sports arenas are a disgrace.

 

I still haven't been to either Citi Field or new Yankee Stadium.

[BuffaloBill]

People have become wiser about stadium funding. Also, HD tv has made viewing games from the comfort of one's home a very attractive option.going to the stadium to see a game livewasmore appealing when ticket prices were reasonable and your other option was to listen to it on a radio or to watch it on a small screen.

[CodeMonkey]

Taxpayer funded sports arenas are a disgrace.

Amen.

[San Jose Bills Fan]

The Oakland Raiders, after digesting the findings in a stadium study they commissioned have proposed an $800 million stadium which will seat 50,000 which would be the smallest in the NFL.

 

Their proposal is to spend $300 million of their own money, get a $200 million loan from the NFL, and have the remaining $300 financed.

 

That's a pretty fair breakdown: 37% private 25% from the league, 37% public.

 

While I'd like to see 100% private funding, this is heading in the right direction. The one positive thing I'll say about Jerry Jones is that he financed the majority of the Cowboys stadium.

 

BTW, the ownership of the San Francisco Giants paid almost entirely for AT&T Park.

[bigK14094]

Yes, I don't think the Bills alone could justify a new venue in WNY, the money problems would be to big, even if they sold out 10 games. To succeed, would need another major tenant that could help with the payback of capital invested. I do not see one on the horizon. So, WNY needs to keep the Ralph up to date to continue to retain the Bills. (setting aside all the estate issues for the minute)

[eball]

Americans may have been 'wowwed' by a fancy new stadium decades ago when such things were unique, but in today's world when you're tearing down the fancy new stadium you just built 20 years ago to build an even fancier, newer stadium the whole thing has kinda lost its luster. Taxpayer funded sports arenas are a disgrace.

 

I still haven't been to either Citi Field or new Yankee Stadium.

 

I hear ya, but Shea was a toilet. The bigger issue is the higher ticket prices.

[PromoTheRobot]

Which is why the Bills are "fixing up the old car" rather than asking for a new one. But in ten years that old beater will be 50. We have to replace RWS eventually. This is not like the Rams wanting a new palace after 18 years.

 

PTR

[KD in CA]

I hear ya, but Shea was a toilet. The bigger issue is the higher ticket prices.

Bite your tongue! I loved Shea.

 

But you're right about the ticket prices. The Yanks and Mets have no interest in attracting middle-class fans to the ballpark. They both have thousands of prime seats empty every single game; they even had empty seats at last night's ASG.

 

 

The Oakland Raiders, after digesting the findings in a stadium study they commissioned have proposed an $800 million stadium which will seat 50,000 which would be the smallest in the NFL.

 

Their proposal is to spend $300 million of their own money, get a $200 million loan from the NFL, and have the remaining $300 financed.

 

That's a pretty fair breakdown: 37% private 25% from the league, 37% public.

 

While I'd like to see 100% private funding, this is heading in the right direction. The one positive thing I'll say about Jerry Jones is that he financed the majority of the Cowboys stadium.

 

BTW, the ownership of the San Francisco Giants paid almost entirely for AT&T Park.

I don't see $300MM of benefit to the citizenry. Plus, who's paying the extra $$$ when the cost overruns start and the project ends up costing over $1B?

[ALF]

The new 49'r stadium for $1.2 billion will be 40 miles from Oakland, open in 2014. Would be cheaper for both teams to use one stadium.

[Max997]

Good find.

 

From the article:

 

obert Boland, academic chair of New York University's Tisch Center for Hospitality, Tourism and Sports Management, said the Mets did not enjoy "the honeymoon period that was once typical for a new stadium" because fans quickly discovered they were paying to watch a team that was not as good as previous seasons.

 

So even with a fancy stadium, the quality of the team still matters? Interesting.

 

I'm sure the fact that their stadium is in flushing and didn't set itself apart from any of the other new stadiums has something to do with this too. The look of Citifield is my least favorite of the new stadiums

 

The price of going to a game in NY is just ridiculous so that played a part as well. When a guy like Artie Lange who is certainly not Trump but did ok when he was on Stern and still doing stand up has to move his season tickets for the Yanks back 10 rows when the new stadium opened bc of the price increase there is something seriously wrong

[ICanSleepWhenI'mDead]

. . . fans quickly discovered they were paying to watch a team that was not as good as previous seasons. . . .

Well, if we get a new stadium, that's one thing we don't need to worry about!

[San Jose Bills Fan]

I don't see $300MM of benefit to the citizenry. Plus, who's paying the extra $$$ when the cost overruns start and the project ends up costing over $1B?

 

Cost overruns? That would be in the contract. In Atlanta, any cost overruns for the Falcons new stadium will be absorbed by the team, not the taxpayers.

 

Anyways, that wasn't the point of my earlier post.

 

The point is that you're seeing more and more stadium projects where private money makes up the majority of the financing whereas it was not long ago where the majority of financing was always at the taxpayers' expense.

 

In Pittsburgh for Heinz Field, the financing was 25% private, 75% public. When PNC Park in Pittsburgh (home of the Pirates) was built the stadium was 20% private, 80% public.

 

When Lucas Oil Field 5 was built 5 years ago, the Colts only paid for 16% of the cost.

 

This was typical of stadium projects not even 10 years ago. My citing of the Raiders project was to show the continued trend that the financing is shifting in stadium deals towards more private money.

 

If the people in Oakland only have to ante up 37% of the cost of the new stadium to keep their beloved football team, I think that's not a bad deal at all.

Edited July 18, 2013 by San Jose Bills Fan

[Gordio]

I hear ya, but Shea was a toilet. The bigger issue is the higher ticket prices.

 

Yeah I know it was a toilet but I miss that place. Actually named my daughter's middle name Shea after Shea Stadium(It took pretty much the 9 months of pregnancy to get my wife to agree to that), These new stadiums have no character.

[KD in CA]

The point is that you're seeing more and more stadium projects where private money makes up the majority of the financing whereas it was not long ago where the majority of financing was always at the taxpayers' expense.

 

Yes that's certainly a positive trend, but IMO it will still be criminal until the taxpayers are paying 0%.