Isles to Brooklyn 2015 Part III **Preseason Game v Devils 9-21-13
View Single Post
12-12-2012, 01:58 PM
Bert Marshall days
Join Date: Oct 2006
Originally Posted by
There's no way that's true.. I believe what you read was forbes projection on franchise value going up $35mil with the move. Revenue will go up but is not going to skyrocket certainly not $35mil.
From the NY Times -
Q. Why would the Islanders move from the Coliseum, where they are tenants, to Barclays, where they will still be tenants?
A. The short answer: $35 million in extra revenue per year. That goes a long way toward wiping out the club’s current operating deficit, estimated at $8 million per year.
The main benefit in this move “is not in the increased revenue the Isles will get from the average fan; it’s in the huge increase they’ll get from selling luxury suites and premium club seats,” said Tony Knopp, chief executive officer of Spotlight TMS, a company that manages corporate tickets at Barclays Center and other sites around the country.
The Coliseum, built in 1972 and barely renovated since, has 31 luxury suites and a relatively small number of high-priced premium seats. Knopp estimates that the suites generate about $3 million a year and the premium seats about $16 million.
Barclays Center, which is far more geographically convenient to corporate customers than the Coliseum, has 104 luxury suites. Knopp estimated that those suites would generate about $21 million for the Islanders, while premium seating would generate an additional $33 million. That comes to $54 million from suites and premium seats — $35 million more per year than what the Islanders generate at the Coliseum.
“I’d happily ride the train for another 25 minutes to watch $35 million more in talent on the ice,” Knopp said.
Bert Marshall days
View Public Profile
Bert Marshall days's albums
Find More Posts by Bert Marshall days