Stadium adds income to CMP

All profits from the Pensacola Pelicans will go to the operations and maintenance of the Community Maritime Park. There is no such agreement anywhere in minor or major league baseball. The closest thing may be in the NFL with the Green Bay Packers, which is publicly owned by individual residents of that city.

I talked with the Quint about what are his projections on the profitability of the team in the new park.

In looking at American Association attendance (nearly all the teams have larger and newer ballparks), Studer estimates the Pelicans will average between 3,000 to 4,000 per game.

“As you know a team needs those very large nights to achieve this for some week day nights will not be as strong,” says Studer. “Currently we will cap out at around 3,300. However, the boardwalk and second deck are added to the stadium, those 1,300 seats will bring capacity up to over 4,000.”

If the boardwalk and berm are added, they would increase seating by 850. Second deck with club seating and party deck another 450.

“The naysayers will look at current attendance and say that the Pelicans can’t average 3,000-4,000,” says Studer.” but that is like comparing an hotel on the beach with one by UWF. There is no comparison-downtown minor league ballparks do very well around the country.”

Studer offers this analysis:
“When the Pelicans move into the new park, if we ultra conservatively figure no increase in ticket prices, no increase in concessions, no increase in sponsor dollars, no scoreboard sales and no dollars from naming rights-in essence the worst case scenario, the bottom lines are as follows: 2,400 average attendance would create a $87,000 net profit, 2,700=$195,000, 3,000=$303,000, 3,500=$483,000 BL and 4,000=$663,000.

As you can see if you add revenue from any ticket increase, concessions, sponsorship, naming rights it is very doable to have a bottom line well beyond $663,000. All of which goes to CMPA.”

In addition, the Pelicans will pay a rental fee for use of the stadium.

“I feel the boardwalk and upper deck will increase average attendance by 750 easily,” says Studer. “The upper deck club/party area will be very popular for non-baseball events. Conservatively if we multiply 750 times $10 per ticket that is $7,500 per game times 48 games=$354,000 more in revenue.”

He adds that his revenue figures are Pelicans only. He thinks the extra seating may have even a bigger impact with other events.