Venue Detail
Tampa Bay Buccaneers
Revenues From Sports Venues Pro Facilities Report
February, 2011
Tampa Bay Buccaneers
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1 Buccaneer Place Tampa, FL 33607-5797 Phone: 813-870-2700 Fax: 813-870-1558 URL: www.tampabaybuccaneers.com
Owner
Malcolm Glazer
League
National Football League NFC South
Venue
Raymond James Stadium, 4201 N Dale Mabry Hwy, Tampa, FL 33607-6103 Owner: Tampa Sports Authority Managed by: Owner Built: 1998 Capacity: 65,000 Permanent concession stands: 48 Concessionaire: The Levy Restaurants Suite caterer: The Levy Restaurants Soft drink: Coca Cola Beer: Multiple
Naming rights
Sold to: Raymond James Financial Price: $32, 500,000 Term: 13 years Expires: 2011
Ticket prices
Season tickets range from $444 to $902
Attendance
2007 average attendance: 65,316 2008 average attendance: 64,511 2009 average attendance: 62,991
Luxury Suites
Quantity: 195 Term: 5 to 10 years Price: $45,000 to $150,000 Seats: 8 to 46 Includes: Tickets, parking, concierge service.
Club seats
Quantity: 12,000 Term: 1 to 1 years Price: $1,799 to $3,668 Includes: Tickets.
Financing
The cost of the stadium was $168.5 million. With interest and a $12 million practice venue, the total cost of the project was more than $400 million. The NFL Bucs got development rights adjacent to the stadium, advertising rights and naming rights and will pay $5.95 million yearly to the Tampa Sports Authority. There will be a $2.50 per ticket surcharge and a half-cent sales tax to pay for the venue. Pct. public: 100
Seat licenses
The plan in Tampa Bay to help raise money for construction of the stadium was not strictly a PSL plan, but we thought it worth mentioning. The Charter Seat Deposit program asked season ticket holders to pay a deposit for the right to buy tickets for the next 10 years. The deposit was refunded at a rate of five percent a year for nine years with the balance paid after the 10th season. The deposit price was equal to the price of a season ticket for one year.
Raymond James Stadium is the home of the NFL Tampa Bay Buccaneers. The team made the move from Houlihan's Stadium when this new venue opened in 1998. In June 1998, naming rights were sold to Raymond James, a financial services provider.
In 1999, the Authority was forced to pay $5.1 million in property taxes on the stadium. The lease protects the team from the costs, but Hillsborough County says the venue may be taxable. The issue landed in court where the NFL team was ordered to release its luxury suite leases and naming rights documents.
The Authority says having to pay a $5.1 million property tax bill on Raymond James Stadium could leave it short of funds and it may need county money to survive. The Authority has asked the county to exempt the stadium, but the county put that decision off.
The tax bill taps the Authority's savings which had been used to pay the higher costs of operating the new stadium as compared with Houlihan's Stadium.
It costs the Authority $5.4 million annually to operate and maintain the venue, compared with $3.7 million for Houlihan's Stadium. The phone bill has gone from $32,000 to $135,000 because of additional phones, primarily in the press box. Insurance costs have nearly doubled.
The Authority must also spend $150,000 a year to lease land for parking that it sold to raise cash for stadium construction. The parking revenue goes to the Buccaneers. The team also gets the first $2 million in after-expense earnings from other events at the stadium and half of all profits above $2 million.
Tickets for the games come with an additional surcharge that runs from $14.54 to $35.66.
Tents for group events before and during games are available for groups of 20 or more at $125 per person. Tickets are extra and the team does not guarantee tickets will be available for those attending a tent event.
The venue is sold out to season ticket holders. (Facilities, Financial, Football, NFL, Professional Sports)