Venue Detail
Orlando Predators
Revenues From Sports Venues Pro Facilities Report
February, 2011
Orlando Predators
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302 S. Graham Ave Orlando, FL 32803 Phone: 407-447-3300 URL: www.orlandopredators.com
Owner
Monolith Limited Partnership
League
Arena Football One American Conference, South
Venue
Amway Arena, 600 W Amelia St, Orlando, FL 32801-1126 Owner: City of Orlando Managed by: Owner Built: 1989 Capacity: 17,248 Permanent concession stands: 11 Concessionaire: The Levy Restaurants Suite caterer: The Levy Restaurants Soft drink: Pepsi Cola Beer: Multiple
Naming rights
Sold to: Amway Corp. Price: $1, 500,000 Term: 4 years Expires: 2010
Ticket prices
Season tickets range from $72 to $855 Single tickets range from $10.00 to $120.00
Attendance
2007 average attendance: 13,626 2008 average attendance: 12,519
Luxury Suites
Quantity: 26 Term: 5 to 5 years Price: $70,000 to $100,000 Seats: 16 to 16 Includes: Tickets, 2 parking passes.
Financing
The $102 million venue was financed with city general fund money and $50 million generated by a four percent hotel/motel tax. The actual construction cost was $68 million. Pct. public: 100
The Orlando Centroplex (known to local fans as the Orena), became the TD Waterhouse Centre with the sale of naming rights in 2000. For a day, the building was known as The Arena, then the Orlando Magic resold naming rights to their venue to Amway Corp. The firm was founded by Magic owner Rich DeVos.
The venue will be called Amway Arena. Amway Corp. will pay the city $1.5 million for the four-year deal, or $375,000 a year. TD Waterhouse paid about $1.7 million a year, but the Magic kept most of the money. In 2005, the city's share was $303,000 after arena improvements.
The venue is home to the NBA Magic. The WNBA Miracle debuted in 2000 and headed for Connecticut in 2003.
The county joined the city in approving a $1.1 billion plan to build a new arena for the Magic, make upgrades to the Citrus Bowl and create a new performing arts center. Supporters are now anxious to get the construction underway.
The agreement will pay for the new venues from a mix of tourist taxes, downtown property taxes, private contributions and other sources.
The deal brings a new home court and a 25-year lease for the Magic, an arts center with three state-of-the-art performance halls and an extensive renovation for the aging Citrus Bowl stadium.
The $480 million arena is the most expensive project, and it will sit on land already purchased by the city on the West Church Street and Hughey Avenue block downtown.
The Magic will play home games there. Plus, proponents say, more big-name concerts and other premier events should arrive once the new facility opens in 2010.
It's projected to be more than twice the size of the current arena, with about 750,000 square feet, and will hold more than three times the number of luxury suites. The old Amway Arena will be sold and could be torn down.
In addition to a last-minute public gymnasium agreement, the team is pledging to pay $50 million plus interest upfront, lease payments with a present value of $12 million, plus other revenue, bond and insurance guarantee provisions. The team also promises to cover cost overruns.
Magic owner Rich DeVos also promised to contribute $10 million to help build the performing-arts center.
The projected $425 million arts center would play host to Orlando's philharmonic, ballet and opera groups, as well as attract a larger array of touring Broadway shows and musicals, boosters say.
The complex will include three halls, one as large as 2,800 seats. It will also be surrounded by condo, office and retail development.
The $175 million Citrus Bowl is the least expensive of the three venues, but it has no private backers. It would further update and expand the 1936 facility west of Orange Blossom Trail by replacing the lower bowl, adding 10 new suites, adding banquet space and increasing the number of bathrooms and concessions.
Of the three projects, this one could face the largest funding threat. An amendment approved by commissioners could force a construction delay of a year or more if tourist-tax revenues do not steadily increase in the coming years.
The Magic’s new arena will have 66 loge boxes. The four-seat units sell for $40,000 annually and six-seaters for $60,000.
Deposits have already been pledged for all 56 luxury suites. The suites cost $150,000 to $295,000 a year, and leases range from three to five years. (Facilities, Financial, Football, Professional Sports