Venue Detail
Boston Celtics
Revenues From Sports Venues Pro Facilities Report
January, 2010
Boston Celtics
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226 Causeway St. Boston, MA 02114 Phone: 617-523-6050 Fax: 617-523-5949 URL: www.nba.com/celtics Owner: Stephen Pagliuca, Wyc Grousbeck and other investors League: National Basketball Association Eastern Conference, Atlantic
Venue
TD Garden, 100 Legends Way, Boston, MA 02114 Owner: Delaware North Companies Inc. Managed by: New Boston Garden Corp Built: 1995 Capacity: 17,565 Permanent concession stands: 42 Concessionaire: Sportservice Suite caterer: Well Bread Catering Soft drink: Coca Cola Beer: Multiple
Naming rights
Sold to: TD Banknorth Inc. Price: $120, 000,000 Term: 20 years Expires: 2025
Ticket prices
Season tickets range from $774 to $11,825 Single tickets range from $10.00 to $191.00 2007 average attendance: 16,843 2008 average attendance: 18,624 2009 average attendance: 18,975
Luxury Suites
Quantity: 89 Term: 5 to 10 years Price: $241,000 to $420,000 Seats: 12 to 20 Includes: Tickets for Celtics and Bruins games, 2 parking spaces, private restaurant and lounge membership. Suite rental is $2,500-$3,000.
Club seats
Quantity: 1,100 Price: $15,300 to $18,200 Includes: Tickets.
Financing
The $160 million arena was privately funded. Pct. public: 0
TD Banknorth Garden, home of the NHL Bruins and the NBA Celtics, seats almost 5,000 more than Boston Garden, which had a capacity of 14,890 and was the teams' previous home. Delaware North, the Boston Bruins and Boston Celtics each have a private owner's box; the arena reserves another four for rental on a game-by-game basis.
TD Banknorth Inc. signed a naming rights deal with Delaware North in 2005 to rename Boston's FleetCenter as the TD Banknorth Garden. The 20-year deal will cost the firm $6 million a year and is part of the financial firm's plans to expand in the region.
The deal includes an additional $8 million for Venue improvements over 20 years, $5 million for community improvements and blocks of tickets for underprivileged children. The total value of the deal could reach $138 million.
Bank of America, which acquired FleetBoston Financial Corp., has given up its naming rights to the Boston arena that bears Fleet's name. Building owner, Delaware North, will reportedly receive a fee of up to $3 million from Bank of America to end the 15-year deal.
The Celtics rent 10 boxes from Delaware North to use as hospitality suites for sponsors and to sublease to other companies. Premium and season ticket holders have access to three private restaurants and clubs -- Premium Club, Banners and Legends. Courtside seats are $200 per game.
The Sports Authority purchased naming rights to the Boston Celtics' new practice facility for more than $8 million in a 12-year deal. The exact price was not released and it could be as high as $12 million. The facility will be known as the Sports Authority Training Center at Healthpoint. The company will share a marketing program with the Celtics that includes signage at the Garden along with advertising and personal appearances by the players.
The Celtics extended their lease at the TD Banknorth Garden in 2006 through the 2020-2021 season. In addition to the extension, the team will see improvements to the building and a chance to bring the NBA All-Star game to the Venue in 2009 or 2010. The current lease expires in 2011.
Team and building officials did not detail the upgrades, but indicated it would include new lighting, sound and scoreboard equipment. The Celtics will create a new Courtside Club for season ticket holders.
In 2004, the Celtics sought changes in their lease to get more revenue from the building in which they play rent-free.
Delaware North officials, which own the venue, began exploring other venues to see how they might upgrade the arena. The Celtics also hired Tim Romani to help them review sites and plans for a new building.
The Celtics said they wanted money from building concession and premium seating operations. Club seats are sold by the building, which has struggled for years to create demand for the product. (Facilities, Financial, Professional Sports, Venue)