Venue Detail
Memphis Redbirds
Revenues From Sports Venues Pro Facilities Report
January, 2010
Memphis Redbirds
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8 S Third St Memphis, TN 38103 Phone: 901-721-6050 Fax: 901-527-1642 URL: www.memphisredbirds.com Owner: Blues City Baseball, Inc. League: Pacific Coast League American Conference, North
Venue
Autozone Park, 8 S Third St, Memphis, TN 38103 Owner: Memphis Redbirds Baseball Foundation Managed by: Global Spectrum Built: 2000 Capacity: 14,320 Permanent concession stands: 8 Concessionaire: Ovations Food Services Suite caterer: Ovations Food Services Soft drink: Coca Cola Beer: Multiple
Naming rights
Sold to: AutoZone Price: $4, 300,000 Term: 25 years Expires: 2024
Ticket prices
Season tickets range from $550 to $800 Single tickets range from $7.00 to $17.00 2007 average attendance: 8,793 2008 average attendance: 8,248 2009 average attendance: 6,981
Luxury Suites
Quantity: 47 Term: 15 to 15 years Price: $40,000 to $45,000 Seats: 25 to 50 Includes: Tickets, parking.
Club seats
Quantity: 1,500 Term: 1 to 1 years Price: $950 to $950
Financing
The ballpark was privately financed, but the city paid for site preparation work. Pct. public: 0
The Redbirds are the only team in the U.S. owned by a non-profit entity, although several other minor league baseball teams are owned by municipalities or local governments.
The team survived an IRS investigation after it created a not-for-profit charitable foundation to own the team and the $72 million ballpark. Setting up the structure took many months and delayed start of construction on the 14,320-seat venue.
Team consultants argued that the foundation controls the ballpark and not the Cardinals, the team's major league affiliate. The foundation has hired former owners, Dean and Kristi Jernigan, to manage the team for one dollar a year under a 15 year contract. They will also receive $10.7 million from the foundation for the team and costs related to the stadium.
Revenue includes $4.3 million from AutoZone for naming rights. The deal includes 100 season box seats and 100 additional season tickets in a 25-year deal. The Memphis Toyota Dealers Association and Toyota Motor Sales USA will pay the foundation $250,000 annually for five years to have its name on adjoining buildings and public areas. Pouring rights were sold to Coca-Cola for $3.08 million for five years.
Federal Express will spend up to $590,000 to guarantee that 60 percent of 1,250 seats are sold in the first five years and 68 percent for the next 10 years. FedEx families will get certain benefits because of the company's investment.
Documents involved with the IRS case show that Leisure and Recreation Consultants of Tampa will pay the foundation $750,000 annually for 15 years to operate the concessions and handle the catering. The company will be paid 9.5 percent of gross receipts as a management fee. (Baseball. Facilities, Financial, MinorTeam, Professional Sports, Venue)