Venue Detail
Colorado Avalanche
Revenues From Sports Venues Pro Facilities Report
January, 2010
Colorado Avalanche
|
1635 Clay St Denver, CO 80204-1743 Phone: 303-405-1100 Fax: 303-575-1920 URL: www.coloradoavalanche.com Owner: Stan Kroenke League: National Hockey League Western, Northwest Division
Venue
Pepsi Center, 1000 Chopper Cir, Denver, CO 80204 Owner: Stan Kroenke Managed by: Owner Built: 1999 Capacity: 18,100 Permanent concession stands: 150 Concessionaire: The Levy Restaurants Suite caterer: The Levy Restaurants Soft drink: Pepsi Cola Beer: Multiple
Naming rights
Sold to: Pepsi Price: $68, 000,000 Term: 20 years Expires: 2019
Ticket prices
Season tickets range from $1,012 to $8,624 Single tickets range from $25.00 to $216.00 2007 average attendance: 17,612 2008 average attendance: 16,842 2009 average attendance: 17,205
Luxury Suites
Quantity: 95 Term: 5 to 10 years Price: $125,000 to $450,000 Seats: 12 to 16 Includes: Tickets to both the Avalanche and Nuggets and all other events at the arena.
Club seats
Quantity: 1,850 Term: 2 to 4 years Price: $3,268 to $11,310 Includes: In-seat wait staff, private club, first choice of tickets for other events.
Financing
The arena was privately financed. Pct. public: 0
The Pepsi Center is the home of the NBA Nuggets, NHL Avalanche and AFL Crush. The center, which opened in 1999, was started by Ascent Entertainment which owned the Nuggets and Avalanche. The deal with the City of Denver includes a $15 million investment by Tele-Communications Inc (TCI) to help build the new Pepsi Center Arena. The facility was to be built, owned and operated by Ascent.
Ascent Entertainment eventually struck a deal to sell the venue, the Nuggets and the Avalanche to Stan Kroenke after deals with Donald Sturm and Bill and Nancy Laurie fell apart.
The arena is on a 50-acre site next to the Elitch Gardens amusement park with 675,000 square feet of interior space. The center has 4,400 parking spaces, with an additional 2,200 spaces shared with Elitch's.
Under the agreement, Ascent raised all monies for the arena, but the owner will keep all revenues. The city will perform some infrastructure improvements around the site in exchange for a commitment to keep the teams in Denver until 2025. The city is also releasing the teams from leases at McNichols Arena and will rebate a portion of the property and sales taxes, including up to $2.25 million in sales taxes on construction materials. For 25 years, the owners will pay the city at least $1 million per year out of revenues generated by the facility. That figure could rise depending upon attendance. Sales taxes generated by the arena will count toward that payment. (Facilities, Financial, Ice Hockey, Professional Sports, Venue)