"If You Build It, They Might Not Come: The Risky Economics of Sports Stadiums"
A key factor in estimating the viability of a sport/entertainment venue is projected number of events that can be attracted and the attendance. Competition for events is fierce a the national and state level with an every growing number of venues. Local competition is also important.
What are the prospects of utilizing the arena to its fullest capacity?OU Athletic Director, Joe Castiglione has stated that OU is interested in being the anchor tenant. OU men's and women's basketball teams play 30-40 games per year in Norman already.
According to Superintendent Dr. Nick Migliorino, Norman Public Schools expects to use the facility (free of charge) for 2 graduations, choral, orchestra, and band concerts.
OU Foundation President, Guy Patton, commented that they projected 120 events would come to the new arena (10/16/2017, at panel discussion co-sponsored by OU Student Government Association and The OU Economics Club). Is this enough to make the project viable?
What can we learn from looking at the the experience of other arenas/entertainment venues?
"We've looked at tons of these things, and the one that we found that seemed to make sense is the Staples Center in Los Angeles," Matheson said. "But they use it 250 dates a year. They don't make sense when you're using it 41 times a year and competing with another venue down the street."
https://www.theatlantic.com/business/archive/2012/09/if-you-build-it-they-might-not-come-the-risky-economics-of-sports-stadiums/260900/
-Dr. C.L. Rogers
What are the prospects of utilizing the arena to its fullest capacity?OU Athletic Director, Joe Castiglione has stated that OU is interested in being the anchor tenant. OU men's and women's basketball teams play 30-40 games per year in Norman already.
According to Superintendent Dr. Nick Migliorino, Norman Public Schools expects to use the facility (free of charge) for 2 graduations, choral, orchestra, and band concerts.
OU Foundation President, Guy Patton, commented that they projected 120 events would come to the new arena (10/16/2017, at panel discussion co-sponsored by OU Student Government Association and The OU Economics Club). Is this enough to make the project viable?
What can we learn from looking at the the experience of other arenas/entertainment venues?
"We've looked at tons of these things, and the one that we found that seemed to make sense is the Staples Center in Los Angeles," Matheson said. "But they use it 250 dates a year. They don't make sense when you're using it 41 times a year and competing with another venue down the street."
-Dr. C.L. Rogers
No comments:
Post a Comment