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re: New Atlanta football stadium passes funding test
Posted on 12/10/12 at 9:28 pm to Tmacelroy12
Posted on 12/10/12 at 9:28 pm to Tmacelroy12
This is the NFL strong arming a city to help increase the franchise's value at taxpayer's expense.
My favorite part is the state/city will own the dome, but the football team will receive all revenues.
Imagine if that deal was in place for the GA Dome? (maybe it is). What is the dome worth to the city other than to be demolished? Basically the Falcons are making the city put it on their balance sheet and they reap all of the rewards.
It's pretty disgusting.
My favorite part is the state/city will own the dome, but the football team will receive all revenues.
Imagine if that deal was in place for the GA Dome? (maybe it is). What is the dome worth to the city other than to be demolished? Basically the Falcons are making the city put it on their balance sheet and they reap all of the rewards.
It's pretty disgusting.
2
Posted on 12/10/12 at 9:32 pm to Swoopin
quote:
Swoopin
That is a very very good point. There has to be some clause in there that protects the city, because that is highway robbery at its finest.
ETA: The only way I see the city getting any revenue is from advertising inside the dome. I'm assuming if the city owns the property, the Falcons would have to lease it? Is that possible?
This post was edited on 12/10/12 at 9:34 pm
Posted on 12/10/12 at 9:35 pm to Tmacelroy12
Yes, and that's very good for their financials. Leasing yields a higher ROA because you don't have the stadium/depreciation on your books.
It is highway robbery. It's just that we have a hip hop mayor and people can't say no to these kinds of things.
It is highway robbery. It's just that we have a hip hop mayor and people can't say no to these kinds of things.
Posted on 12/10/12 at 9:37 pm to Swoopin
quote:
It's pretty disgusting.
Its retarded. There is nothing wrong with the GA Dome.
Posted on 12/10/12 at 9:38 pm to Swoopin
They also completed a ~$300M renovation less than five years ago. Atlanta won't be losing the SECCG, Chick-Fil-A games, or any of the other special events held at the Dome anytime soon, so I don't know how they can justify this.
Posted on 12/10/12 at 9:40 pm to NOTORlOUSD
Just wondering what their actual attendance is, do teams keep track of that?
Posted on 12/10/12 at 9:40 pm to NOTORlOUSD
I'd be curious, from an independent source, how much a Super Bowl actually brings in for the city (compared to other sporting events).
No way it's incremental enough to justify this. There is absolutely no financial justification for this from the point of view of the city.
It's like the city leaders are star struck and willing to trip over themselves to please the NFL franchise. Real lack of leadership.
No way it's incremental enough to justify this. There is absolutely no financial justification for this from the point of view of the city.
It's like the city leaders are star struck and willing to trip over themselves to please the NFL franchise. Real lack of leadership.
Posted on 12/10/12 at 9:42 pm to Swoopin
quote:I think it's usually a few hundred million BUT those numbers are never incremental.
I'd be curious, from an independent source, how much a Super Bowl actually brings in for the city (compared to other sporting events).
No way it's incremental enough to justify this. There is absolutely no financial justification for this from the point of view of the city.
It's like the city leaders are star struck and willing to trip over themselves to please the NFL franchise. Real lack of leadership.
Posted on 12/10/12 at 9:44 pm to TiGeRTeRRoR
Is that tax revenue or total economic activity? Because you need to multiply whatever the economic activity is by (1/taxrate) to break even.
Posted on 12/10/12 at 9:45 pm to TiGeRTeRRoR
Couple years ago when it looked like the Saints would be playing their in the divisional round of the playoffs I bought tickets in advance off of Stubhub, then when they flopped against Seattle had to sell them at a loss for the game against Green Bay.
Atlanta fans
Atlanta fans
Posted on 12/10/12 at 9:48 pm to Swoopin
quote:
Leasing yields a higher ROA because you don't have the stadium/depreciation on your books
Yeah, I guess asking if they could lease the stadium was kinda an obvious question on my end.
Graduated finance so I'm always interested in these types of deals.
Posted on 12/10/12 at 9:49 pm to Swoopin
Usually they just say "(city) brought in $300 million..."
This post was edited on 12/10/12 at 9:49 pm
Posted on 12/10/12 at 9:53 pm to saintsfan22
Noway Carolina fills their stadium by that much. I've been to a Saints game in Charlotte and it was around 75-80% capacity.
Posted on 12/10/12 at 9:58 pm to LSUbase13
I wonder what Jacksonville's stadium attendance is. 
Posted on 12/10/12 at 10:33 pm to Tmacelroy12
Any word on where they plan to put the new stadium? I hope they don't do like Jerryworld and place it out in the suburbs. Stadiums work best when they draw people downtown.
Posted on 12/10/12 at 10:34 pm to telawrence
quote:Last I heard, it was supposed to be near where the current stadium is AKA the ghetto.
Any word on where they plan to put the new stadium? I hope they don't do like Jerryworld and place it out in the suburbs. Stadiums work best when they draw people downtown.
Posted on 12/10/12 at 10:35 pm to Tmacelroy12
quote:
I wonder what Jacksonville's stadium attendance is.
ESPn says 95% full
Posted on 12/10/12 at 10:39 pm to Swoopin
quote:
I'd be curious, from an independent source, how much a Super Bowl actually brings in for the city (compared to other sporting events).
Atlanta is not losing out on Super Bowls because of the Georgia Dome.
The last Super Bowl in Atlanta was a disaster with the ice storm and the Ray Lewis incident.
Posted on 12/10/12 at 10:42 pm to TiGeRTeRRoR
quote:
Last I heard, it was supposed to be near where the current stadium is AKA the ghetto.
???
The Georgia Dome is not in too bad of an area with Phillips, the Omni, the Convention Center, and plenty of other things around. Of course, only like a couple miles away is a little rough once you get away from the big buildings.
Turner Field is in a shite location though.
Posted on 12/10/12 at 11:03 pm to Vicks Kennel Club
Louisiana sports fans like to act like they know shite about Atlanta sports but they really have no idea...it's cool though
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