Expert Sports & Entertainment Facility Feasibility Advisor
CSL International is a renowned firm specializing in sports and entertainment facility feasibility advising. With over 120 years of collective experience, they offer expertise in market demand analysis, financial feasibility, marketing strategies, and operational reviews. Their impressive track record includes completing over 1,000 feasibility studies and providing services such as economic impacts assessment, funding plans, valuations, and business plans. The firm has worked with leading collegiate stadiums and offers premium seating recommendations for optimal fan experience.
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Firm Background CSL International Industry-leading sports & entertainment facility feasibility advisor EXPERTISE: Market Demand Founded in 1988 by former Partners, Directors & Consultants with Coopers & Lybrand (now PwC) Sports Practice Facility Program Financial Feasibility Based in Dallas, TX Marketing Strategies Over 120 years of collective experience Operational Reviews Over 1,000 feasibility studies completed Economic Impacts Extensive collegiate experience (Baylor, Minnesota, Akron, etc.) Funding Plans Valuations Proven track record with credibility in the marketplace Business Plans Independent, unbiased research and analysis 1
Collegiate Stadium Experience TCF Bank Stadium Minnesota Autzen Stadium Oregon Bronco Stadium Boise State File:Baylor University Athletics (logo).svg Baylor Stadium Baylor Husky Stadium Washington Notre Dame Stadium Notre Dame File:WashingtonStateCougars.png FAU Stadium Florida Atlantic Martin Stadium Washington State Kenan Stadium North Carolina File:Asu.png Ross-Ade Stadium Purdue Kyle Field Texas A&M Sun Devil Stadium Arizona State Amon Carter Stadium Texas Christian Reser Stadium Oregon State Spartan Stadium Michigan State File:TCUHornedFrogs.png File:University-of-Colorado-Boulder-sports-logo.png File:USCGamecocks.png Darrell K. Royal Stadium Texas Folsom Field Colorado Williams-Brice Stadium South Carolina File:LSUTigers.png 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 Milan Puskar Stadium West Virginia Michigan Stadium Michigan Kinnick Stadium Iowa File:MemphisTigers.svg File:GaSth 2490.png 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 TCF Bank Stadium Premium Seating Inventory Average Annual Price Current Average Annual Price % Seating Area Low High Low High Seating Area Inventory Sold Club Seats: Indoor Outdoor Club Seats: Indoor Outdoor 250 300 $2,800 $1,850 $3,000 $2,000 250 60% 100% $2,400 $1,800 1,000 1,200 1,200 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 Actual Building Program Average Annual Price Current Average Annual Price % Seating Area Inventory Seating Area Inventory Sold Club Seats: Outdoor Outdoor Club Seats: Outdoor Outdoor 3,000 350 $1,000 $600 3,000 381 100% 100% $750 $1,250 Several recent CSL collegiate football stadium renovation projects Luxury Suites 32 $40,000 Luxury Suites 31 100% $42,500 University of Iowa CSL Recommendations Actual Building Program Average Annual Price Current Average Annual Price % Seating Area Inventory Seating Area Inventory Sold In general, schools followed CSL building recommendations. Club Seats: Outdoor Indoor Club Seats: Outdoor Indoor 1,150 310 $2,300 $5,000 1,150 130 98% 100% $2,200 $5,000 Luxury Suites 40 $56,000 Luxury Suites 45 96% $55,000 Oregon State University Premium seating inventories between 80% and 100% sold CSL Recommendations Actual Building Program Average Annual Price Current Average Annual Price % Seating Area Inventory Seating Area Inventory Sold Club Seats: Scenario #1 (1) Scenario #2 (2) Club Seats: Outdoor Indoor 2,040 1,890 $1,700 $1,700 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 (1) Assumed no loge boxes or indoor club seats built. (2) Assumed loge boxes were built but indoor club seats were not built. 4
Study Components Competitive Facilities Comparable Facilities Market Demand & Building Program Historical Analysis Market Surveys Financial Projections & Funding Potential 5
Mountain West Conference Premium Seating Luxury Suites Loge Boxes Club Seats Total Actual Annual Revenue Total Total Seating Capacity Average Annual Cost Average Annual Cost Average Annual Cost Potential Annual Revenue # % # % # % School Stadium Suites Sold Boxes Sold Seats Sold Boise State UNLV New Mexico Air Force Wyoming Nevada Colorado State Fresno State San Jose State (1) San Diego State (2) 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 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 16 100% 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 43 100% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a $12,000 787 488 1,597 825 256 100% 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 $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 $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 0 0 0 0 0 0 0 0 0 0 0 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 9 9 10 58 12 22 12 0 n/a 427 $1,500 0 0 0 0 0 n/a n/a n/a n/a n/a 8 0 0 (3) n/a n/a n/a n/a n/a n/a Average (excluding CSU) 41,673 20 100% $28,000 43 100% $12,000 791 100% $1,622 $1,229,000 $1,229,000 (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 Responses Percentage of Estimated Population Percentage of Population Survey Margin of (1) Responses Error Ram Club Donors (2) Non-Ram Club Athletics Donors Non-Ram Club Football Season Ticket Holders Non-Ram Club Occasional Ticket Buyers Other (3) 6,765 6,674 2,263 9,879 114,509 822 224 178 12% 3% 8% 15% 3% 13% 3% 3% 22% 59% 3.2% 6.4% 7.1% 2.4% 1.6% 1,435 3,840 Total 140,090 6,499 5% 100% 1.2% (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
Survey Respondent Status Incidence Rate Ram Club Non-Ram Club Athletics Donors Non-Donor Season Ticket Holders Non-Donor Occasional Ticket Buyers All Status Donors Other Respondents 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% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 69% 12% 0% 33% 7% 2% 13% 5% 11% 27% 72% 19% 1% 26% 5% 1% 100% 15% 53% 80% 44% 2% 11% 2% 0% 100% 6% 70% 20% 2% 17% 2% 0% 100% 75% 24% 1% 21% 3% 0% *Multiple responses were accepted. Most Common Selections per Survey Group Ram Club Donors Non-Ram Club Athletic Donors Season Ticket Holders Alumni 76% FB season ticket holder 60% University donor 37% Alumni 80% Occasional FB ticket buyer 53% University donor 44% Alumni 70% University donor 20% Faculty / Staff 17% Occasional Ticket Buyers Other Alumni 75% University donor 24% Faculty / Staff 21% Alumni 69% Faculty / Staff 33% University donor 12% 8
Attendance Impact of New Stadium Average Games per Season Historical Attendance at Hughes Stadium Anticipated New Stadium Attendance at New Stadium Percentage Increase (Decrease) Attendance 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 22,637 (2009-11 Average Tickets Out) x 1.22 (new stadium factor from survey) Total Seating Capacity Attendance Average Attendance as % 27,617 (attendance in new stadium) (1)of Capacity Year 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 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% 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) 10-Year Average 25,263 80.0% 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 Club Seats Priority Seats Field Level Club Memberships Club Suites Loge Boxes Luxury Suites 11
Summary of Premium Seating Interest Premium Seating Concept All Survey Groups Definitely Likely Possibly Total Field Level Club Memberships: 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% Club Seats: 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% Loge Boxes: 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% Luxury Suites: 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% Club Suites: 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% 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 (1) 15 to 21 Club Suites (2) 20 to 30 Loge Boxes (3) 1,100 to 2,000 Club Seats 1,100 to 2,000 Field Level Club Memberships Priority Seating Program: 11,000 to 19,000 seats (1) 16-seat luxury suites. (2) 8-seat club suites. (3) 4-seat loge boxes. Priority / Premium Seating Matrix Inventory Annual Price Total Annual Revenue Seating Concept Low High Low High Average (1) Low High 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 4,000 4,000 3,000 1,100 1,100 6,500 6,500 5,500 2,000 2,000 $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 $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 20 15 15 30 25 21 Total Annual Revenue $7,811,000 $13,471,000 13 (1) Based on weighted average.
Recent Collegiate Naming Rights Values Naming Rights Value Average Annual Revenue Stadium School Duration 30* 30* 25 20 15 25 25 10 20 44 30* 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 $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 $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 Average Median $32,000,000 $20,000,000 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 Base Scenario High Scenario 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 CSL has developed 3 potential operating scenarios. 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) 1,100 1,100 20 15 15 1,500 1,500 25 18 20 2,000 2,000 30 21 25 Attendance has been inflated by 4 percent per year from Year 1 to Year 5. Concession Per Cap: Non-Premium Premium $6.50 $20.00 $8.50 $25.00 $10.50 $30.00 Merchandise Per Cap: All Attendees $1.00 $2.00 $3.00 Parking: 90% captured by University parking Attendance remains constant after Year 5. $10.00 $12.00 $14.00 Facility Fee: Single-Game Football Tickets Single-Game Men's & Women's Basketball / Volleyball Tickets $2.00 $1.00 $2.00 $1.00 $2.00 $1.00 Stadium Naming Rights (Cash only) Advertising / Sponsorship $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 Note: Revenues and expenses have been inflated by 3 percent per year over 30-year term. 15
Year 1 Operating Comparison New Football Stadium Projected Financial Operations Year 1 Operating Comparison Low Base High Scenario Scenario 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 $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 TOTAL REVENUES $18,412,000 $24,378,000 $31,639,000 EXPENSES: Salaries and Benefits Supplies General Operating Services Professional Services Repairs & Maintenance Utilities Game-Day Expenses $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 Total Expenses TOTAL EXPENSES $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 INCREMENTAL NET STADIUM REVENUES $10,326,000 $15,957,000 $22,503,000 16
Low Operating Scenario Financial Projections New Football Stadium Projected Financial Operations Low Operating Scenario Year 1 Year 2 Year 3 Year 10 Year 20 Year 30 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 $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 TOTAL REVENUES $18,412,000 $19,433,000 $20,296,000 $25,902,000 $35,009,000 $47,052,000 EXPENSES: Salaries and Benefits Supplies General Operating Services Professional Services Repairs & Maintenance Utilities Game-Day Expenses $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 Total Expenses TOTAL EXPENSES $1,405,000 $1,447,150 $1,490,385 $1,833,252 $2,463,975 $3,312,661 INCOME FROM NEW STADIUM OPERATIONS $17,007,000 $17,985,850 $18,805,616 $24,068,748 $32,545,025 $43,739,339 Less: Existing Income from Current Stadium $6,680,857 $6,881,283 $7,088,000 $8,718,000 $11,715,000 $15,744,000 INCREMENTAL NET STADIUM REVENUES $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 Year 1 Year 2 Year 3 Year 10 Year 20 Year 30 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 $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 TOTAL REVENUES $24,378,000 $25,740,000 $26,914,000 $34,327,000 $46,311,000 $62,214,000 EXPENSES: Salaries and Benefits Supplies General Operating Services Professional Services Repairs & Maintenance Utilities Game-Day Expenses $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 Total Expenses TOTAL EXPENSES $1,740,000 $1,792,200 $1,846,264 $2,270,731 $3,052,562 $4,103,197 INCOME FROM NEW STADIUM OPERATIONS $22,638,000 $23,947,800 $25,067,737 $32,056,269 $43,258,438 $58,110,803 Less: Existing Income from Current Stadium $6,680,857 $6,881,283 $7,088,000 $8,718,000 $11,715,000 $15,744,000 INCREMENTAL NET STADIUM REVENUES $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 Year 1 Year 2 Year 3 Year 10 Year 20 Year 30 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 $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 TOTAL REVENUES $31,639,000 $33,412,000 $34,964,000 $44,621,000 $60,136,000 $80,737,000 EXPENSES: Salaries and Benefits Supplies General Operating Services Professional Services Repairs & Maintenance Utilities Game-Day Expenses $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 Total Expenses TOTAL EXPENSES $2,455,000 $2,528,650 $2,604,240 $3,202,786 $4,303,806 $5,784,399 INCOME FROM NEW STADIUM OPERATIONS $29,184,000 $30,883,350 $32,359,761 $41,418,214 $55,832,194 $74,952,601 Less: Existing Income from Current Stadium $6,680,857 $6,881,283 $7,088,000 $8,718,000 $11,715,000 $15,744,000 INCREMENTAL NET STADIUM REVENUES $22,503,000 $24,002,000 $25,272,000 $32,700,000 $44,117,000 $59,209,000 19
