NFL Offseason Transactions Ending 03/07/09
Beautiful Stadiums, Wrong Time To Open!!
Total Pro Sports – The New York Yankees, New York Mets and the Dallas Cowboys all are set to open their new billion dollar luxury stadiums this upcoming season. Most of the time new Stadiums are a guaranteed sell out but not in this economy. The way the economy is right now it’s definitely the wrong time to open a stadium, as all 3 teams are finding it tough to sell their tickets.
“In a case of monumentally bad timing, this year three of the biggest names in pro sports — the Yankees, New York Mets and Dallas Cowboys — are opening three of the most expensive stadiums ever built, filled with premium-priced seats and luxury amenities. At a combined cost of more than $3.5 billion, the stadiums were conceived and financed in a vastly different environment, a time when corporations and municipalities were flush with cash. Now they’re opening just as corporate America is going through a massive belt-tightening — and trying to avoid the appearance of extravagance at all costs.”
Sure it’s gonna be a tough sell out as some of the highest face value tickets are selling for $2500 a seat.
Luxury suite-holders can access a separate deal-room for conducting business. In the sleek, exclusive “Legends Club,” the high-definition screens are so ubiquitous they’re even set into the lavatory mirrors. For spectators in the premium section’s teak-armed seats, waiters will bring brick-oven pizza to anyone able to shell out $2,500 a ticket to watch a ballgame in the midst of the worst recession in a generation.
Teams are now scrambling to find ways to fix this problem so they can attract more people to their stadiums so the teams can generate more revenue. Unfortunately nobody would have forecasted such a downturn in the economy, hopefully the Yanks, Mets and Cowboys can pull through it.
Luxury Strikes Out – [The Wall Street Journal]