Venue Detail
Fort Wayne Tin Caps
Revenues From Sports Venues Pro Facilities Report
February, 2012
Fort Wayne Tin Caps
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1301 Ewing St Fort Wayne, IN 46802 Phone: 260-482-6400 Fax: 260-471-4678 URL: www.tincaps.com Owner: Hardball Capital League: Midwest League, Eastern
Venue
Parkview Field, , Fort Wayne, IN Owner: City of Fort Wayne Managed by: Team Built: 2009 Capacity: 8,000 Permanent concession stands: 4 Concessionaire: Team Suite caterer: Team Soft drink:
Naming rights
Sold to: Parkview Health Price: $3,000,000 Term: 10 years Expires: 2018
Ticket prices
Season tickets range from $350 to $525 Single tickets range from $5.00 to $36.00
Attendance
2009 average attendance: 5,407 2010 average attendance: 5,784 2011 average attendance: 5,612
Suites
Quantity: 16 Term: 5 to 10 years Price: $20,000 to $20,000 Seats: 10 to 20
Club seats
Quantity: 135 Term: 3 to 5 years Price: $800 to $900
Financing
The $30 million ballpark included $5 million from the team.
The total project is valued at $130 million. According to the city, $67 million of the project’s cost will come from private developers including the team and the hotel developers, Acquest Realty Advisors and White Lodging Services.
The remaining $63 million comes from public money, but the city contends general property taxes won’t be used and tax rates won’t rise because of the project. Of the public’s portion, 20 percent will come from economic development income tax revenues, which can be used anywhere in the city, while the remaining public money is either derived from the project itself or can be used only in specific parts of the city.
The $30 million ballpark is part of a larger $125 million project Fort Wayne.
The owners of the Tin Caps, formerly the Wizards, invested $18 million in the first phase which will include commercial and residential development. Another $5 million was put toward the ballpark.
The first phase includes a hotel, 8,000-seat ballpark, 1,000-space parking garage, park, 30,000 square feet of street-level shops and 60 condos. Agreements are already in place to acquire the necessary property.
Phases 2 and 3 would include shops and an additional 120 condominiums and would be built as needed.
Suite prices are based on a 10-year contract. Prices are higher for shorter terms. (BaseballMinor, Facilities, Financial, Professional Sports)