Quote:
Originally Posted by khabibulin
So the City of Hamilton owns the stadium right? Any idea what they charge the ticats for use of the stadium? How keeps the revenue from concessions and parking and suites?
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http://www2.hamilton.ca/NR/rdonlyres/BF21F3C0-F0A6-417E-B8AB-5690E0C6EAD0/0/Feb1983PW14021.pdf
9) Financial Terms
The Tiger-Cats agree to pay the City annual payments subject to the following terms:
A guaranteed Naming Rights payment of $750,000 (non-indexed) per year for the
duration of the License Agreement to be used to offset capital construction costs.
A guaranteed payment of $450,000 (indexed annually beginning in 2016 and
continuing for each license year) per year for Football, as payment for football rent
for team practices, pre-season, regular season, post-season home games, 5
Incidental Events, year round change facilities and associated amenities and office
space.
A guaranteed payment of $150,000 (indexed annually beginning in 2017 and
continuing for each license year) per year for Soccer as a payment for the use of a
defined portion of the stadium for soccer pre-season, regular season, post-season
home games, office space in the Stadium and practice facilities outside of the
Stadium
The City will receive 50% of the net revenue for consumable concessions (e.g. food and
beverage) and a negotiated amount from non-consumable concessions (e.g. branded
merchandise) from City events and
15% net revenue from all consumable concessions
for all other events (including Tiger-Cats events and Incidental events but not including
football and soccer games).
Offsite Parking - should the off-site stadium parking plan be implemented, the
Tiger-Cats will pay 50% of the net earnings from all off-site parking (football games
and events). All costs for obtaining additional parking, including any legal fees and
permitting fees shall be initially borne by the Tiger-Cats, but will be an expense in
the calculation of additional net parking proceeds. Offsite Parking funds will be
paid to the Ivor Wynne Community Fund for the purpose of developing community
projects within the Stadium Precinct neighbourhood.
Additional Rent
(*Indexed)
* Club Seats - 50% of Club Seat Revenues
* Private Suites - $4,000 per rented Suite
* Community Fund- 10% Tiger Cats net
income for community fund
also the ticats bought the naming rights for $750,000 per year and sold them to tim hortons for well over $1 million per year.