Venue Detail
Iowa Barnstormers
Revenues From Sports Venues Pro Facilities Report
February, 2011
Iowa Barnstormers
|
730 Third St Des Moines, IA 50309 Phone: 515-633-2255 Fax: 515-564-8451 URL: www.theiowabarnstormers.com
Owner
Don Lamberti, Ben Silverstein and 24 others
League
Arena Football One National Conference, Central
Venue
Wells Fargo Arena, 730 Third St, Des Moines, IA Owner: Polk County Managed by: Global Spectrum Built: 2005 Capacity: 17,000 Concessionaire: Ovations Food Services Suite caterer: Ovations Food Services
Naming rights
Sold to: Wells Fargo Price: $11, 500,000 Term: 20 years Expires: 2024
Ticket prices
Season tickets range from $117 to $630 Single tickets range from $15.00 to $75.00
Attendance
2008 average attendance: 9,341 2009 average attendance: 10,281
Luxury Suites
Quantity: 36 Term: 3 to 7 years Price: $35,000 to $50,000 Seats: 12 to 12
Club seats
Quantity: 600 Term: 1 to 1 years Price: $1,400 to $1,800
Financing
The $217 million arena was financed by the county. Pct. public: 100
The Iowa Events Center complex includes the new Wells Fargo Arena and the Hy-Vee Hall convention center.
The venue is managed by Global Spectrum under an agreement that gives the firm the first $500,000 in revenue from the arena. Earnings above that are split with the county getting as much as 80 percent of the additional money. The county keeps the $11.5 million for arena naming rights and the $8 million for convention center naming rights. The company gets all other revenues and must cover operating expenses.
Global Spectrum will be paid $15,000 a month to manage the new Hy-Vee Hall convention center and the existing Veterans Memorial Auditorium and Polk County Convention Complex.
The firm was required to find an AHL hockey team for the building and is required to pay $4,000 in base rent if games are canceled because of a strike. Global Spectrum has promised not to manage any other facility within 100 miles of the arena. The county gets a free luxury suite and six parking spaces. (Facilities, Financial, Football, Professional Sports)