Venue Detail
Midlands RockHounds
RSV Pro Facilities Report
March, 2013
Midland RockHounds
|
5514 Champions Dr Midland, TX 79706 Phone: 915-683-4251 Fax: 915-683-0994 URL: www.midlandrockhounds.org Owner: E. Miles Prentice and Bob Richmond League: Texas League, South
Venue
Citibank Ballpark, 5514 Champions Dr, Midland, TX 79706 Owner: City of Midland Managed by: Owner Built: 2002 Capacity: 5,000 Concessionaire: Team Suite caterer: Team Soft drink:
Naming rights
Sold to: First American Bank Price: $2,100,000 Term: 25 years Expires: 2027
Ticket prices
Season tickets range from $465 to $510 Single tickets range from $9.00 to $16.00
Attendance
2010 average attendance: 4,193 2011 average attendance: 4,541 2012 average attendance: 4,562
Suites
Quantity: 22 Term: 1 to 3 years Price: $19,000 to $19,000 Seats: 16 to 16
Club seats
Quantity: 300 Price: $640 to $640
Financing
A sales tax will generate $35 million as part of the plan to pay off the venue in 15 years. The venue was originally expected to cost $35 million, but the final cost was more than $46 million. The Rockhounds invested $3.5 million.
Nearly 60 percent of the voters in Midland signed on to a proposal in 1999 to build a new sports complex that includes a new ballpark for the Double-A RockHounds.
The complex is actually two structures. One is a ballpark that is the home of the RockHounds and will also be used for Little League and other activities. The other field is for football and will be used by high school and other teams. It can also be used for exhibition games and soccer matches. The local school district will pay $50,000 in lease payments and $30,000 annually toward maintenance. The city will get all the advertising revenue while the school district and the city divide concession earnings. The school district has signed a 20-year lease.
The team invested $3.5 million into the ballpark project and splits revenues with the city. The team pays $50,000 a year in lease fees plus another $50,000 toward maintenance and expenses. The team agreed to a 15-year lease with two five-year extensions. The team bought $1.2 million in concession equipment for the new ballpark and manages concessions even at non-RockHounds events. The team gets 100 percent of the concession revenue during baseball games and gives the city 15 percent of revenues on other events. The city gets $10,000 of scoreboard advertising revenue.
The city formed a separate corporation to manage the complex and sell naming rights. It gets all naming rights revenues. Rights were purchased by First American Bank which was later acquired by Citibank.
Press box signage is selling for $5,000 while section signs are $950.
Cup holders in the stadium club and seats sell for $2,500 and cup holders in the box and reserved seats cost $4,000 for sponsorship. (Baseball, Facilities, Financial, Professional Sports)