Venue Detail
Iowa Cubs
Revenues From Sports Venues Pro Facilities Report
February, 2012
Iowa Cubs
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350 SW First St Des Moines, IA 50309-4631 Phone: 515-243-6111 Fax: 515-243-5152 URL: www.iowacubs.com Owner: Michael Gartner League: Pacific Coast League, American Conference, North
Venue
Principal Park, 350 SW First St, Des Moines, IA 50309-4631 Owner: City of Des Moines Managed by: Team Built: 1992 Capacity: 10,500 Permanent concession stands: 10 Concessionaire: Centerplate Suite caterer: Centerplate Soft drink: Coca Cola Beer: Multiple
Naming rights
Sold to: Principal Financing Group Price: $2,500,000
Ticket prices
Season tickets range from $425 to $500 Single tickets range from $8.00 to $26.00
Attendance
2009 average attendance: 7,895 2010 average attendance: 7,671 2011 average attendance: 7,256
Suites
Quantity: 44 Term: 1 to 3 years Price: $18,000 to $20,000 Seats: 8 to 12 Includes: Tickets, parking.
Club seats
Quantity: 4,000 Term: 1 to 1 years Price: $400 to $400
The stadium was commissioned to replace the old Sec Taylor Stadium. The suites also have a view of the Iowa State Capitol. Future plans include recreational development around the ballpark, such as bicycle and jogging trails.
The stadium recently underwent an $11.7 million renovation. A $2 million donation from the Iowa Cubs helped fund the work along with a $750,000 contribution by suburban communities, and the issuance of a $9 million general obligation bond by the city. The bond is to be repaid through collection of 35 percent of a 7 percent hotel/motel tax.
Another upgrade came in 2004 when Principal Financing Group gave $2.5 million toward the $4.5 million project. The Cubs extended their lease through 2022 and invested $1 million of its own money.
The team pays $16,000 a year in rent, half of which goes into a capital improvement fund. (BaseballMinor, Facilities, Financial, Professional Sports)