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Nationals Park
Washington, DC
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Major League Baseball Team Relocation and Stadium Development
Components: Major League Baseball Ballpark (42,000 seats)
Project Value: $690 million
SAG managed a multi-faceted team that successfully assisted the District of Columbia with relocating the MLB-owned Montréal Expos to Washington DC and developing a new ballpark. Our team addressed every issue associated with developing the ballpark ranging from development budget creation, finance plan development, parking finance plan development, ballpark attendance projections, funding stream tax projections, ballpark tax impact projections, comparable ballpark finance structure data gathering, competitive market ballpark revenue due diligence, and assisted with lease and ballpark development agreement negotiations.
The project budget increased over time as off-site infrastructure was added to the project and the finance plan evolved through a number of iterations. Ultimately, the ballpark was funded by team lease payments, taxes generated by ballpark activities, a business gross receipts tax (previously used for the MCI Center), and a business utilities tax. Nationals Park opened in March 2008.
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Grayson Stadium
Savannah, GA
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Minor League Baseball Stadium
Components: 8,500-seat Ballpark
Project Value: $10 million
SAG prepared a market and financial feasibility study for historic Grayson Stadium in Savannah, GA. The study process included discussions with comparable ballpark management; analysis of historical attendance, revenues, and expenses; creation of a multivariable regression model to predict performance; and an analysis of potential team lease structures. The analysis concluded that the existing stadium was realizing comparable performance levels given the area's demographics. While a new stadium could realize higher attendance, the economic benefits of building the new stadium were materially less than the costs of construction.
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Connecticut NFL Stadium
Hartford, CT
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National League Football Team Relocation and Stadium Development
Components: National League Football Stadium (75,000 seats)
Project Value: $320 million
SAG professionals prepared a market and economic impact analysis of options for bringing the National Football League Patriots to Connecticut. The State of Connecticut was considering providing funding for a stadium to lure the team to Hartford as an economic development initiative. The study compared Hartford market data to other NFL markets, analyzed alternative uses for the stadium and developed sample event calendars, analyzed other NFL leases, analyzed construction costs associated with a retractable dome and open air stadium, estimated the economic impact for the State of Connecticut, and provided sample financing plans for site acquisition, preparation and construction of the stadium.
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Crown Coliseum
Fayetteville, NC
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Community Arena
Components: 8,500-seat Arena and Multi-Purpose Space
Project Value: $50 million
SAG professionals assisted with the development of the original Business Plan for the facility and the Forecast of Tax Projections including the premium seating study for the Cumberland County Civic Center Coliseum in Fayetteville, North Carolina. The Business Plan set forth the facility's Marketing Plan, the Services Plan (staffing, catering, etc.), the Financial Plan and Summary of Economic Benefits. The Forecast of Tax Projections presented the Statement of Revenues, Expenses and Changes in Retained Earnings and Statement of Cash Flows for the project, which entailed estimating the facility's operating revenues and expenses, including pricing sensitivity for luxury suites and premium club seating and future Prepared Food and Beverage Tax and Occupancy Tax collections in Cumberland County. Based on this study, the expanded Complex opened in the fall of 1997. In 1998, the County decided to refinance the bonds and engaged Strategic Advisory Group to provide the Forecast of Cash Flows for the fund that administers the Prepared Food and Beverage Tax and Occupancy Tax.
SAG also helped implement an enterprise information system solution for the newly developed Crown Coliseum in Fayetteville, NC. SAG began with a technology needs assessment addressing marketing and sales coordination, facility space booking, event scheduling, event revenue and expense tracking, management reporting and linkages to the county accounting system. Other needs included linking to the convention and visitors bureau, E-mail, point of sale tracking, food and beverage cost control, time and attendance management, contact management, floor plan layouts, personal productivity tools, and an internet presence. With the assessment completed, SAG assisted with vendor solicitation, evaluation and selection.
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College of Charleston Arena
Charleston, SC
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College Arena
Components: 5,100-seat Arena and Multi-Purpose Space
Project Value: $45 million
SAG professionals assisted the College of Charleston board with evaluating and planning for a new or renovated arena, primarily to accommodate the growth in popularity of its men's basketball program. The John Kresse Arena seated a relatively few 3,500 patrons, was an aging facility, and was situated on a landlocked site. The study helped the College board understand the market, financial, architectural and development opportunities and issues for the arena. The study drew upon extensive analysis of other mid-major programs and facilities, including interviews with a host of Athletic Directors both in and out of the conference. The board ultimately decided to build a new facility at the upper end of the recommended seating range, as can be seen in the new 5,100-seat Carolina First Arena.
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Asheville Civic Center
Asheville, NC
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Civic Center
Components: Arena, Exhibit Hall, Auditorium, Meeting Space
Project Value: $115 million
SAG prepared a business plan for a renovated/expanded Asheville Civic Center. The development of the plan included analyzing the existing facility's event calendar, interviewing promoters and meeting planners, and analyzing comparable and competitive facilities. It was recommended the exhibit space be renovated and expanded, the existing theater be converted into a state-of-the-art ballroom, a new 2,400-seat performing arts theater be developed, and the existing arena be renovated to include permanent ice, improved site lines, new locker rooms and new luxury suites. In addition, SAG worked closely with facility staff to evaluate staffing, rental rates, operating policies, marketing, etc. that were used in projecting future budget requirements and positioning the renovated facility in the market.
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Atlanta Sports Council
Atlanta, GA
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Sports Council
Components: Strategic Funding Plan
SAG prepared a strategic funding plan for the Atlanta Sports Council, the organization that promotes the value of sports growth in Atlanta and Georgia. To support its mission to drive major sports events and sport business to Atlanta, the funding plan analyzed the historical events and their impact on the broad community. It also educated board members on the universe of events that Atlanta could realistically pursue over the coming years. Given Atlanta's substantial ability to host such events, these potential events included some of the most sought-after major events in the world, such as mega events (Super Bowl, NCAA Final Four, All-Star games, etc.), Olympic/amateur events, college events, as well as events created by the ASC. The plan calculated the potential benefits from these events and laid out the funding required to market to and win a share of these events.
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Rio de Janeiro Bid for the 2004 Summer Olympic Games
Rio de Janeiro, Brazil
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Amateur Sports
Components: Facility Infrastructure Review
SAG team members assisted with the preliminary planning related to Rio de Janeiro's bid for the 2004 Summer Olympics. Our efforts helped the committee understand what it would take to successfully host the games from a facility, infrastructure, and financing perspective.
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Miami-Dade County Bid Plan for the 2007 Pan American Games
Miami-Dade County, FL
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Amateur Sports
Components: Pan Am Games Funding Plan
Project Value: $200 million
SAG assisted with preliminary planning for Miami-Dade County's bid for the 2007 Pan American Games. The games were anticipated to be funded by a combination of private sources including ticket sales, broadcast television rights and corporate sponsors with a public sector guarantee for shortfalls.
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