...something important. What was so important that this money was spent on? It was spent on arenas for professional sports teams. Central Idea/Specific Purpose Statement: After hearing my presentation, you will realize the downside of publicly financed stadiums for professional teams and oppose funding for them now or in the future. Relate the Topic to the Audience: I’m certain that you all like your money, and you would like to keep more of it. At the very least, you don’t want it forcibly going to a very wealthy owner of...
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...during that time. Not long ago, stadiums were often named after the team that occupied them, or a geographical location like Anaheim Stadium. In the early days of professional sports only a few venue names were associated with companies. In 1912, the owner of the stadium where the Boston Red Soxs played called in Fenway Park after a real estate company he owned. This proves that the teams that play at the stadium should at least get to pick their own name since they play there. In 1926 William Wrigley named the stadium where the Chicago Cubs played, Wrigley Field. It is not clear whether he did this to promote the gum company he owned or if he just wanted to put the family name on the stadium or both. In 1953, August Busch II wanted to rename the Sportsman's Park, where the St. Louis Cardinals played, Budweiser Stadium, but the league did not allow it. Marketers know that putting a name on a venue can make billions of positive brand impressions in the minds of potential...
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..."Buffalo Stadium is Termed Most Complete Stadium in Country By Architect." Houston Chronicle, April 10, 1928. This article in the Houston Chronicle is important because it describes the atmosphere in which Pete Mazar played in. The stadium was completed in 1928, and each seat has a great view of the field. The stadium has a total of 11,556 seats, which is surprising given that another source in my bibliography, opening day in 1928 hosted 20,000 fans. Buff Stadium, Opening Day, April 11, 1928. Digital image. Houston Chronicle. October 24, 2007. Accessed November 19, 2017. http://blog.chron.com/bayoucityhistory/2007/10/a- look-back-at-buff-stadium/. This image is intended for Houston baseball history fanatics. The picture shows how Buff...
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...Suncorp Stadium logo There is always a beehive of activities at the facility for hosting league games to concerts to corporate events. Any tourist who would want to visit the facility is assured of an action and an adventure every weekend. Also they can obtain the events calendar from the Suncorp stadium website to ensure they never miss anything they would love to attend. Most of the sports facility offer singular events. For example, a football stadium will only offer football games, however Suncorp stadium will offer multiple sporting events over the weekend and that is what differentiates them from other similar facilities around Brisbane (English, 2013). 4. Design evaluation of Suncorp Stadium Stadiums and sport facilities tend to cause a periodic influx of...
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...American. Expansion, renovations, and new buildings have been happening to stadia and arenas worldwide. The ideas and technology behind these buildings are extremely impressive and in some cases almost unimaginable. However, with these great ideas and new additions comes pretty high costs and the construction can be very expensive for owners and stakeholders. A new stadium can bring leagues and owners a number of positive benefits. Fans may attend the facility just to view it and it may not have anything to do with who is playing or how the team is...
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...sports apparel, to performance effects, to even beverage endorsements, the valuation of a professional sports team is not a simple task. In 2010, the 32 teams in the NFL generated over $8 billion dollars in revenue and were valued at a collective $33 billion. Those staggering numbers are generated through a multitude of different econometric analysis and different approaches to valuing the net worth of a team. Cost-asset based approach, income approach, and market/sales comparisons are a few ways that analysts and investors can value a team. For purpose of specificity, I plan to focus on the novelty effects of the Dallas Cowboys new Cowboys Stadium on revenues and the overall value of their organization. (Dallas Cowboys are privately owned, thus public financial information is not available so other resources were used) Does a new stadium have a positive effect of an NFL team? Well, that question kind of seems vague and challenging to answer. Inevitably it would seem that players would want to play harder in a newer facility, thus improving the performance of their game, in turn spurring larger attendance rates which would generate more revenues. However, it is not as simple as that, as there is much to analyze in term of costs that would affect an owner to make such a decision. In regards to a specific method of valuation to analyze the question at hand, the Income Approach is the most efficient measurement and applicable method when analyzing the contributors of ticket sales...
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...The Greendale Baseball Stadium Eliza Lopes The task on hand is to build a 47,000 seat stadium. The project comes with some critical dates, specially the beginning of the baseball season. This timeline was developed to have the stadium fully operational by the 2014 baseball season opener, which is May 20th. This project is one of a kind and very large in nature. I can set forth company future trend as it tries to make name in category “A” contracts. is a large contract and will be a benchmark for the firm. There were several problems that accompanied this project and few challenges that must be overcome. The biggest of these challenges was to complete the stadium in the allocated time so that the stadium is fully operational by the 2014 baseball season, which begins on May 20th. Although this deadline sets a small window in which to complete this project our firm feels confident that the project will be a major success. If the stadium is not completed by that timeframe there is a $100,000 per day penalty to the company until the stadium is completed and open for business. There are also multiple observable holidays during this time period that will have to be negotiated to conserve time and preserve schedule. Many of the construction elements are dependent upon one another for timely completion. To begin the project a comprehensive list of tasks was prepared that must be completed to finish the stadium project. The time durations listed next to each task are the...
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...New Sports Stadiums and Taxpayer Abuse Five Works Cited There seems to be a domino effect through out the U.S., new stadiums are being built, teams are demanding that their city build them a new stadium to play in but it is not necessary to build these stadiums. The most obvious change in new stadiums is coming from baseball. In the last 10-15 years many new baseball stadiums have been built, but who is paying for these stadiums? The teams and the owners that are demanding the stadiums, or the taxpayers? The answer is that taxpayers are picking up a huge amount of the cost to build a new stadium. Before the Depression stadiums were built by using private funds, some of these stadiums include: Wrigley Field, Tiger Stadium, Yankee Stadium, and Fenway Park ("Sports Pork", 3). All of these parks are very memorable for lots of reasons, mostly the players that played and or play there. Why when these stadiums were built were they a fraction of the cost that it is to build a stadium today? In the 1980's America was spending about 1.5 billion on new stadiums; in the 1990's it spent 11 billion ("Walls Come", 2). Furthermore, in 1967 the cost to build the Kingdome was 67 million, in 1999 the cost to build Safeco Field was 517.6 million. On top of the cost difference, not only was the Kingdome multi purpose but also it held more people. The capacity of the Kingdome for baseball seating was 59,166; the seating at the new Safeco Field is 46,621. Although the...
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...The New Yankee Stadium: A Visual Analysis When walking into Gate 4 of the new Yankee Stadium, a true fan of the blue and white pin strips experiences déjà vu. When building the new stadium the architects designed the new Gate 4 to mirror the Gate 4 of the old stadium right next door. When the initial design plans began, the organization had to think about not only the history of the team, but also how the die-hard fans would react when first walk into the stadium. Including mirroring the old stadium, the outside walls of the new stadium closely resembled the old stadium as well. When you first step into the new facility every idea that you had about what it was going to be like was destroyed except for the field itself. There is a much heavier emphasis on taking a more modern approach when they thought about the design. Everything from food vendors, to team stores, to even the bathrooms were brought from the 20th to the 21st century. Though there are some drastic differences, some aspects of the stadium did stay more along the lines of the original stadium. The seating is generally the same with regard to layout. But the major difference between old and new is the price of a seat. An even more outrageous price is how much it cost to build this monstrosity of a stadium. The average cost to build a stadium is about eight hundred million dollars; the new Yankee Stadium cost 1.5 million dollars to erect. The field has essentially the same look, but the dimensions were changed just...
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...Roger Noll often speaks out against sport stadium construction and the negative impact these projects have on local economies. Sport organizations usually threaten relocation as a means to get public funding for their new stadiums. However, according to Noll, “NFL stadiums do not generate significant local economic growth, and the incremental tax revenue is not sufficient to cover any significant financial contribution by the city” (Parker). Noll argues that football stadiums do not necessarily bring in that much revenue, because of the short ten game season and maybe a playoff game or two per season. The rest of the year that space is empty or utilized in a different way. Noll believes that sport arenas are more beneficial to local economy...
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...As we arrived at Lucas Oil Stadium I could hear all of the fans shouting “Let's go hawks, let’s go hawks, let’s go hawks.” It was bonkers how many fans there were, which caused a big commotion since you could barely budge your way by anybody. But there was no time to look around I didn't want to get misplaced in this crowd. In order to get to the stadium we had to go through a hotel. While we were in the hotel I could definitely tell some people had had a little too much fun, one guy we saw was passed out on a couch in the lobby, people were messing with his hat but he didn't even budge, sadly he was an Iowa fan. Also when we were traveling through the hotel we heard one of the staff refer to having “junk” in the lobby, this made me laugh because he had his mad face on. I knew that this was going to be an entertaining night with the awesome stadium, crazy fans, and the fun surroundings....
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...Professional Sports Stadiums Kayla Thompson MBA 578 SB FT Managerial Economics April 13, 2013 ABSTRACT The purpose of this paper is to address the issue of the public (taxpayers) funding the construction and/or renovation of privately owned sports stadiums. The use of public funds has skyrocketed since the early 1980s. Why has there been an increase in the trend and what is really going on behind the scenes? Through my research, I have found six articles that deal with many questions surrounding this hot topic issue. First, I will examine how the sports teams and the local governments deal with the public when proposing the funding of the sports teams’ stadiums. After the public agrees to back the construction of a stadium, the next step is to find out where those funds are coming from. I will take a look at how the increase in taxes are being implemented and just exactly how much debt these taxes are trying to pay off. Once all of this information is determined, it is easy to get to the real question of this research paper: Is funding the construction of a new sports stadium worth it for the taxpayers of that city? Does the revenue outweigh the debts, or will it never pay off? The answer to this might just change the readers’ minds next time they are sitting at their home stadium watching their favorite team play. INTRODUCTION Taxpayers funding sports stadiums has become more and more prominent since the 1980s. Now, most professional sports stadiums in this country...
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...Braves SunTrust Park in Marietta The Atlanta Braves recently signed a deal to move its stadium to Cobb County (Marietta). “Reports claim the new stadium will cost $672 million, with $300 million coming Cobb County” (Connolly), which is under construction and will be open to its fans in 2017. The Ballpark will be built near highway I-75 and I-285 which is close to the center of the Braves’ fans. “Braves officials anticipate a capacity of about 41,500; its parking space will number about 6000 and they unveiled plans to build a $400 million entertainment district that will surround the ballpark. The Braves plan to utilize thousands of additional parking spaces surrounding the stadium including the Cobb Galleria area” (Johnson). The Braves Ballpark...
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...Extra Credit Assignment by Betty Alvarez Submitted in Partial Fulfillment of the Requirements of PJM 6005.CRN71512 To Mr. Mark Willis. Northeastern University – College of Professional Studies December 20, 15 Projects that Failed The Wembley Stadium is one of the biggest rebuilding project failures in history. When the project was schedule to begin in 2000 to replace its original structure, but the project took 5 years longer than expected to be completed due to the complexity of the new structure but also because the lack of proper design when the stakeholders decided that integrating an arch would make the looks cleaner and the support more stable and neat. But what they didn’t realize is that even when the design is innovative enough for the millennial era, the views were going to be obstructed for those who wanted to live the real time soccer experience. Nonetheless, the project failed due to many reasons but in my opinion, they all relate to poor knowledge of the stakeholders’ requirements and the simple fact that there was no historical precedent that could support the new design: there was no soccer stadium in the world with these features and therefore it was a hard job to come to the grounds of accuracy when planning for cost and possibly for schedule too. The actions that could have taken place to avoid the issue are mainly interconnected to the design of the structure. When building new or innovative forms of edification, there is always a risk of undermining what...
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...A/ The Stadium Velodrome of the Parc des Princes is inaugurated on July 18th, 1897. On the occasion of this inauguration, the access to stands is forbidden made hastily, these stands worry the authorities which will grant their approval only after works of intensification. These prefabricated stands were brought on the spot Installed in a dozen days, in the style of a huge construction set. Stands were 32 meters long weigh each 4 tons. This stadium counted 3200 places and is encircled by a cycle track of 666,66 meters in length with no lanes. The realization of this track was made according to the rate of clay in the ground. If there is an average rate of clay, the ground is moistened until become a thick mud which is spread. If there is a strong rate of clay, the ground is used such as removed from the ground and compacted with feet. If there is a low rate of clay, we add straw and droppings. For the lawn, they used the lawn of the ancient park. Before the construction of the stadium, this space was a place of hunting for the bourgeoisie, where the name of Park des Princes. Then they just added cage metallic. B/ On this picture, the first knocks of excavators. They needed to dig 8 meters in the ground, an immense pit of more than 120 meters in length for 80 meters wide to welcome the lawn. The walls of this hole are sloping of 8 meters to put the lower ring of the stadium there. After that, the phase of construction now could begin. The installation...
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