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Old 05-30-2012, 03:29 PM
 
583 posts, read 759,973 times
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Colts struggling to sell remaining seats for upcoming season

Indianapolis Colts have sought the help of an outside marketing company to help sell roughly 3,000 remaining season tickets.

Colts struggling to sell remaining seats for upcoming season - fox59.com
It only took one year for the bandwagon to end. The financial projections for the debt service need every game to be sold out for the next 30 years. Even at those projections, the taxpayers are still making heavy directly payments to the Colts through the highest sales taxes in the country. At an average ticket price of $50, the Colts/Capital Improvement Board need to find $150,000, per game, plus all the concessions and ancillary expenses those 3,000 bring to each game. In absence of this revenue, look for Indy taxes to increase to offset the missing ticket revenue.

This stadium illustrates the problem of small markets engaging in a building spree in good times with the expectation of having enduring big-market success.
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Old 05-30-2012, 03:46 PM
 
32,497 posts, read 26,381,433 times
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i have always felt that government needs to not build stadiums for sports teams just to entice them to come to their city/state. tax breaks are one thing, but actually spending money to build the stadium is something completely different.
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Old 05-30-2012, 04:04 PM
 
Location: Old Bellevue, WA
18,794 posts, read 14,287,906 times
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Agree 100% with OP. In Seattle we have built 3 stadiums in the last 20 years, and now they are trying to build another one to get an NBA and possibly NHL team here. We're still paying off the Kingdome, which was torn down in 2000.

They claim the new arena will be built with private money, yet the city will own it after it's built. These people have more ways to lie and scam than a carnival worker. If it's such a great deal, build it privately, own it privately, run it privately and sit back and reap the profits, like any other business. Leave the gov't and taxpayer out of it.
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Old 05-30-2012, 04:07 PM
 
Location: in Mary Ann and Ginger's hut
639 posts, read 707,427 times
Reputation: 575
corporate welfare. Even though I personally am not into NASCAR, I respect how they build their own stadiums with their own money
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Old 05-30-2012, 04:13 PM
 
29,419 posts, read 18,747,301 times
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Quote:
Originally Posted by GregHenry View Post
Colts struggling to sell remaining seats for upcoming season

Indianapolis Colts have sought the help of an outside marketing company to help sell roughly 3,000 remaining season tickets.

Colts struggling to sell remaining seats for upcoming season - fox59.com
It only took one year for the bandwagon to end. The financial projections for the debt service need every game to be sold out for the next 30 years. Even at those projections, the taxpayers are still making heavy directly payments to the Colts through the highest sales taxes in the country. At an average ticket price of $50, the Colts/Capital Improvement Board need to find $150,000, per game, plus all the concessions and ancillary expenses those 3,000 bring to each game. In absence of this revenue, look for Indy taxes to increase to offset the missing ticket revenue.

This stadium illustrates the problem of small markets engaging in a building spree in good times with the expectation of having enduring big-market success.
I guess the question always is did the taxpayers get to vote on the financing. When KC updated their two stadiums for around 600 million or whatever the cost was it was put to a taxpayer vote and they said yes.

No shock the season ticket sales are down as Manning has left dodge, the team was horrible last year and with the rook starting at QB they will not be good for a few years and will be lucky if Luck pans out. First round QB's are a roll of the dice. Colts hit it the jackpot Manning can they do it again?
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Old 05-30-2012, 06:28 PM
 
Location: Long Island
33,089 posts, read 13,966,623 times
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The Meadowlands was built almost 30 years ago, Jets/Giants move out last year and they still have not paid off the construction. 5 stadiums were built in the NY/NJ metropolitan area in the last few years, gradually going towards teams and ticket holders paying for construction, but not there yet.

The new Florida Marlins Stadium was one of the largest travesties, imagine taxpayers funding a park that draws 20K per game, sweet deal for the owners.
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Old 05-31-2012, 11:53 AM
 
Location: Englewood, Near Eastside Indy
8,345 posts, read 14,113,036 times
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I am not making the connection between ticket sales being down and its relation to public financing of the stadium. There is a legitimate conversation to have here, and it has nothing to do with ticket sales. Building a stadium with city money is a mistake, whether tickets are selling or not.

Having said that, I am opposed to cities publically financing stadiums. Los Angeles not having an NFL team has been the best thing to ever happen to the new stadium business in the NFL. Colts want Indianapolis to build a stadium? Threaten to move to LA. Vikings want Minnesota to build a new stadium? Threaten to move to LA. Bengals want Cincinnati to build a new stadium? Threaten to move to LA. This cycle has repeated over and over the past 15 or so years across the country. Some teams, Oilers to Nashville for example, have pulled the trigger and left town. It should be illegal for owners of NFL franchises to hold cities hostage like they do.

But, it is what it is in some regards. There are only so many NFL franchises to go around, and there is always another city willing to pony up and steal a team. The competition between cities coupled with owners taking advantage fuels publically funded stadiums.
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Old 05-31-2012, 08:41 PM
 
Location: The canyon (with my pistols and knife)
13,223 posts, read 17,978,149 times
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Colts fans need to support Andrew Luck.
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Old 05-31-2012, 09:22 PM
 
3,723 posts, read 3,884,781 times
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Quote:
Originally Posted by Johnny Cash View Post
corporate welfare. Even though I personally am not into NASCAR, I respect how they build their own stadiums with their own money
There are NFL stadiums that were built with private money. Case in point Gillette Stadium.

Indy needed the new dome to remain competitive in the area of getting host big sporting events. The Final 4, The Super Bowl, The Big Ten football title game, NCAA Regional Final site, amongst others. That is a big part of their economy, hosting these types of events.
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Old 06-01-2012, 06:13 AM
 
Location: Englewood, Near Eastside Indy
8,345 posts, read 14,113,036 times
Reputation: 5964
Quote:
Originally Posted by TAM88 View Post
There are NFL stadiums that were built with private money. Case in point Gillette Stadium.
That's one.............can you name another built with only private money? The one in Charlotte was majority private, so was the one in Arlington. Both used some public money. The majority of stadiums are built using public money.

Quote:
Originally Posted by TAM88 View Post
Indy needed the new dome to remain competitive in the area of getting host big sporting events. The Final 4, The Super Bowl, The Big Ten football title game, NCAA Regional Final site, amongst others. That is a big part of their economy, hosting these types of events.
Hosting Final Fours and the like is never going to earn Indianapolis its $620 Million spent to build Lucas Oil Stadium.
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