Venue Detail
Cleveland Indians
Revenues From Sports Venues Pro Facilities Report
February, 2011
Cleveland Indians
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2401 Ontario St Cleveland, OH 44115-4003 Phone: 216-420-4200 Fax: 216-420-4481 URL: www.indians.com
Owner
Larry Dolan
League
Major League Baseball American League, Central
Venue
Progressive Field, 2401 Ontario St, Cleveland, OH 44115-4003 Owner: Gateway Economic Development Corp Managed by: Ballpark Management Co. Built: 1994 Capacity: 42,800 Permanent concession stands: 26 Concessionaire: Sportservice Suite caterer: Well Bread Catering Soft drink: Pepsi Cola
Building sponsors
Seating: Yes
Naming rights
Sold to: Progressive Insurance Price: $57, 600,000 Term: 16 years Expires: 2023
Ticket prices
Season tickets range from $567 to $4,455 Single tickets range from $8.00 to $75.00
Attendance
2007 average attendance: 28,448 2008 average attendance: 27,122 2009 average attendance: 22,357
Luxury Suites
Quantity: 122 Term: 4 to 10 years Price: $54,313 to $190,000 Seats: 12 to 16 Includes: Parking but not tickets, concierge access.
Club seats
Quantity: 2,064 Term: 4 to 10 years Price: $4,941 to $4,941 Includes: In-seat wait service, private lounge.
Financing
A 15 percent tax on alcohol and cigarettes will generate $117 million and bonds totaling $31 million were issued against stadium revenue. The team contributed the balance to fund the $180 million stadium. Pct. public: 82
Progressive Field, built at a cost of $180 million and opened in 1994 as Jacobs Field, was named for team owner Richard Jacobs.
Rental of luxury suites and seats puts the Indians' stadium revenues among the highest in MLB, since the team gets luxury seating revenue. PSLs were not used in the stadium, but club seat holders must maintain their tickets in order to buy them the following year.
Richard Jacobs paid $6.3 million toward the $320 million sale of the Cleveland Indians to Larry Dolan to keep the family name on the ballpark through the 2006 season. Jacobs also got 11 club seats, 12 field boxes and parking spaces. Loges went to other Jacobs family members. Jacobs bought the team for $40 million in 1986.
The team sells its signage as part of sponsorship and media packages. (Baseball, Facilities, Financial, MLBVenueReport, Professional Sports)