Venue Detail
Texas Rangers
Revenues From Sports Venues Pro Facilities Report
February, 2011
Texas Rangers
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1000 Ballpark Way Arlington, TX 76011-1345 Phone: 817-273-5222 Fax: 817-273-5206 URL: www.texasrangers.com
Owner
Chuck Greenberg, Nolan Ryan and other investors
League
Major League Baseball American League, Western
Venue
Rangers Ballpark in Arlington, 1000 Ballpark Way, Arlington, TX 76011-1345 Owner: City of Arlington Managed by: Team Built: 1994 Capacity: 49,178 Permanent concession stands: 75 Concessionaire: Sportservice Suite caterer: Sportservice Soft drink: Coca Cola Beer: Multiple
Building sponsors
Clubs/Restaurants: Yes Parking: Yes
Naming rights
Sold to: Ameriquest Mortgage Co. Price: $75, 000,000 Term: 30 years Expires: 2034
Ticket prices
Season tickets range from $405 to $8,100 Single tickets range from $15.00 to $109.00
Attendance
2007 average attendance: 29,795 2008 average attendance: 24,321 2009 average attendance: 27,641
Luxury Suites
Quantity: 129 Term: 1 to 5 years Price: $60,000 to $225,000 Seats: 10 to 22 Includes: Tickets, parking. Party suites lease for $1,750 to $9,500 per game. The suites hold up to 200 fans.
Club seats
Quantity: 5,699 Term: 1 to 1 years Price: $3,888 to $8,100 Includes: Tickets, in-seat wait staff.
Financing
The $191 million ballpark included $135 million in revenue bonds financed through a 0.5 cent sales tax. The rest of the cost came from the team. Pct. public: 71
Seat licenses
The original sale, before the ballpark opened in 1994, was for seat option bonds, not PSLs per se. The bonds were securities created through the City of Arlington. The bonds matured in 2008 and buyers got their full investment back. The cost was $500 to $5,000 and some 8,400 were sold, raising $17 million. The money provided cash for constructing the venue. After the ballpark opened, the seats were sold as seat options, good for 15 years at the same price.
The $191 million ballpark was financed by private investors and through a half-cent city sales tax increase which is responsible for $135 million of its cost. The Rangers have a ballpark lease which allows them to keep all ticket revenue, including $7 million annually from luxury suites. The Rangers pay the City of Arlington, which owns the ballpark, up to $5.5 million annually in rent and ticket surcharges.
In 2004, the team reached a deal with Ameriquest for a naming rights, but in 2007, the team ended the agreement saying it wanted to put its brand on the ballpark.
Signs are sold as part of packages that range in price from $250,000 to $1.4 million. The stadium also features a Diamond Club restaurant that seats 500.
A TGIFridays once offered a restaurant at the ballpark, but in 2004 that space was taken by Sports Destination Entertainment for a Rawlings All American Grille.
Game-day luxury suites lease for $4,500 to $11,700, depending upon the size. (Baseball, Facilities, Financial, MLBMLB, Professional Sports)