Venue Detail
Seattle Seahawks
Revenues From Sports Venues Pro Facilities Report
February, 2011
Seattle Seahawks
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11220 NE 53rd St Kirkland, WA 98033-7595 Phone: 425-827-9777 Fax: 425-828-8336 URL: www.seahawks.com
Owner
Paul Allen
League
National Football League NFC West
Venue
Qwest Field, 800 Occidental Ave, Seattle, WA 98134 Owner: Washington State Public Stadium Authority Managed by: Team Built: 2002 Capacity: 72,000 Permanent concession stands: 48 Concessionaire: The Levy Restaurants Suite caterer: The Levy Restaurants Soft drink: Jones Soda Co.
Naming rights
Sold to: Qwest Communications Int'l Price: $75, 000,000 Term: 15 years Expires: 2019
Ticket prices
Season tickets range from $370 to $3,400 Single tickets range from $47.00 to $375.00
Attendance
2007 average attendance: 68,194 2008 average attendance: 67,995 2009 average attendance: 67,395
Luxury Suites
Quantity: 82 Term: 5 to 9 years Price: $50,000 to $150,000 Seats: 12 to 34
Club seats
Quantity: 7,000 Term: 3 to 7 years Price: $1,600 to $2,800
Financing
Cost for the Stadium is $430 million, and cost for the adjoining Stadium Exhibition Center is $70 million. The entire project is funded by a public-private partnership, with at least $130 million coming from the Seahawks.The public's contribution is capped at $300 million. The public share is funded from a state lottery, sales tax revenue and the county hotel tax.
After maintenance and operation costs have been met, any profits generated by these facilities will be divided three ways each year. A portion will go to the Seahawks football team. Another portion will be placed in a reserve fund to cover any unanticipated revenue shortfalls. And the final portion will be used to build youth playfields across the state. Pct. public: 66
Seat licenses
The Seahawks sold 8,300 seat licenses to help fund the team's new $430 million stadium. The estimated $16 million to $17 million raised from the sale goes against the team's $130 million contribution.
The lifetime licenses cost $2,000, $2,500 or $3,000 each, plus the cost of season tickets.
Team officials said they wanted to keep licenses to a minimum in the 72,000-seat venue. Buyers can transfer the licenses and get discounts on team merchandise and the option to buy preferred parking.
The Kingdome was the home of the NFL Seahawks, but was razed to make room for a new venue.
The new stadium opened without a naming rights sponsor and with some premium seating unsold. That changed in 2004 when the team closed a 15-year deal with Qwest for naming rights to the stadium. The agreement is reported to be worth $4 million to $5 million a year. The stadium will be known as Qwest Field, but the company also has rights to the full complex with its exhibition center. That combination will be known as the Qwest Center.
The deal also requires First & Goal, the Seahawks' sibling firm that operates the stadium, to buy products and services each year that exceeds 35 percent of the annual fee.
The team pays $850,000 a year to lease the stadium. The Seahawks keep all money from renting it to other users and 80 percent of the revenues from an exhibition center next door.
The Seahawks reduced the price of club seats between the end zone and 20-yard lines before the 2002 season from $150 to $95. The change included about 3,300 seats. Fans that have already purchased seats in the section could move into higher-priced areas or receive a refund. The team hoped the lower prices will increase sales. They said the weak economy has prevented the seats from selling as well as they hoped.
Team officials say the suites are the largest in football and each has its own rest room. Suites have two television monitors, stereo sound systems and other standard food and beverage facilities. Electronic panels allow suite holders to order food and beverage items at the touch of a button or check on team or player statistics.
The Seahawks were joined in 2009 by the MLS Sounders. (Facilities, Financial, Football, NFL, Professional Sports)