Venue Detail
Reading Phillies
Revenues From Sports Venues Pro Facilities Report
January, 2010
Reading Phillies
|
PO Box 15050 Reading, PA 19612-5050 Phone: 610-375-8469 Fax: 610-373-5868 URL: www.readingphillies.com Owner: Craig Stein League: Eastern League Eastern League, Southern
Venue
FirstEnergy Stadium, 1900 Centre Ave, Reading, PA 19605 Owner: City of Reading Managed by: Owner Built: 1950 Capacity: 8,500 Permanent concession stands: 6 Concessionaire: Team Soft drink: Pepsi Cola Beer: Multiple
Naming rights
Sold to: GPU Energy Term: 15 years
Ticket prices
Season tickets range from $435 to $485 Single tickets range from $5.00 to $8.00 2007 average attendance: 6,662 2008 average attendance: 6,423 2009 average attendance: 6,678
Built in 1950, there are no luxury suites or club seats at the stadium. A boardwalk was added to the deck along the home run wall in 1998. In 2000 a picnic area was added that holds more than 2,000 people. A new swimming pool in right-center field was built in 2001 along with upgrades to locker rooms and other facilities. The state contributed $400,000 to the project.
Beginning in 2009, FirstEnergy Stadium began a $10 million improvement program to be made during the team’s off-season over two years.
Under the plan, the entrance moved to a huge new concession plaza along the right-field side, a parking lot was added and the much-maligned team locker rooms were improved. Although 450 new parking spaces will be added, the team does not plan to institute a parking fee.
Most of the previous upgrades have been designed to generate more revenue. The team has added decks, picnic areas and a swimming pool. Other changes include new sprinklers and drainage for the field to improve its appearance and a new facade on the building.
Of the $7 million put into the stadium, the team was responsible for $6 million.
The team is good at selling group packages and the decks have resulted in much of its profits. One deck hosted 13,500 people in 2001. The team charged $25 per person, including ticket and food, and earned $18 per person in profit. A $40,000 dining area for pre-game picnics has 40 to 50 sellouts a year. Another deck hosts 17,500 people. Each person pays $20 for the game and a buffet and it always sells out. The packages have not hurt the team's per cap concession sales which averaged $6.77.
The team has also improved its revenues through its lease. Originally the team and city split beer revenues evenly. As the team invested in the stadium, it took a greater share of the beer revenue. The larger crowds that came ensured that the city always made more money, even though its percentage decreased.
Eventually the city found itself with a large annual deficit, despite the extra earnings. It put a surcharge on game tickets to help recoup the costs. The team eventually offered to take over the operational expenses in exchange for all beer revenue. The city agreed and keeps the surcharge revenue. The team increased beer prices and has come out ahead. The city is also pleased because it does not have the expense.
Naming rights were sold to GPU Energy, but the firm's name later changed to FirstEnergy. (Baseball. Facilities, Financial, MinorTeam, Professional Sports, Venue)