Venue Detail
Cincinnati Reds
Revenues From Sports Venues Pro Facilities Report
February, 2012
Cincinnati Reds
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100 Main St Cincinnati, OH 45202 Phone: 513-765-7000 Fax: 513-421-7342 URL: www.cincinnatireds.com Owner: Carl Lindner, George Strike, Bill Reik, Cincinnati Enquirer League: Major League Baseball, National League, Central
Venue
Great American Ballpark, 100 Main St, Cincinnati, OH 45202 Owner: Hamilton County Managed by: Team Built: 2003 Capacity: 45,000 Concessionaire: Sportservice Suite caterer: Well Bread Catering Soft drink: Pepsi Cola
Naming rights
Sold to: Great American Insurance Price: $75,000,000 Term: 30 years Expires: 2031
Ticket prices
Season tickets range from $592 to $4,257 Single tickets range from $7.00 to $77.00
Attendance
2009 average attendance: 21,579 2010 average attendance: 25,439 2011 average attendance: 27,327
Suites
Quantity: 57 Term: 5 to 10 years Price: $92,000 to $195,000 Seats: 12 to 12 Includes: Tickets not included.
Club seats
Quantity: 3,000 Term: 1 to 3 years Price: $4,110 to $5,730
Financing
The agreement calls for the Reds to contribute $30 million to the $289 million project, including money from an existing 25-cent ticket surcharge. The payment schedule calls for $10 million when ground is broken, $10 million one year later and $10 million before the stadium is substantially completed.
The Reds opened a new 45,000-seat ballpark in 2003. The $289 million cost does not include land acquisition, parking, demolition, bond financing costs or costs associated for doing the work in phases to allow continued operation of Cinergy Field during construction.
The county is responsible for a parking structure to serve the new ballpark and nearby NFL Paul Brown Stadium, but the team will get parking revenues. The team will also get baseball-related parking revenues at county facilities near the ballpark.
The Reds get revenue from concessions, luxury suites, naming rights and signage.
The Reds have agreed to a lease of $2.5 million a year for the first nine years, then one dollar a year until year 30. Observers say the team's contribution is higher than most, but it also gets more ballpark revenue than most teams. Overall, the new stadium is expected to mean $20 million to $25 million a year in additional revenue to the team.
The ballpark also features 300 Diamond Club seats selling for $14,580 per season. Food, beverages and parking are included.
In 2000, Great American Insurance Co. bought naming rights to the Reds' ballpark for $75 million over 30 years.
The Reds turned the "Batter's Eye" in the outfield into a party suite holding up to 200 fans. The suite has tinted glass tilted to prevent glare and is heated and cooled for fan comfort.
The eye is typically made a dark color to allow batters to see the ball leave the pitcher's hand and travel toward home plate. Rather than leave the space unused, the Reds have found a way to make it profitable and not affect the batter's vision.
The suite has its own rest rooms and 126 seats on three tiers. Other seats are located further inside near the bar and buffet. (Baseball, Facilities, Financial, MLBMLB, Professional Sports)