Venue Detail
New Jersey Devils
RSV Pro Facilities Report
March, 2013
New Jersey Devils
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50 Route 120 E. Rutherford, NJ 07070 Phone: 201-935-6050 Fax: 201-935-2127 URL: www.newjerseydevils.com Owner: Jeff Vanderbeek League: National Hockey League, Conference A
Venue
Prudential Center, 165 Mulberry St, Newark, NJ 07102 Owner: City of Newark Managed by: AEG Facilities Built: 2007 Capacity: 17,625 Concessionaire: Centerplate Suite caterer: Centerplate Soft drink: Beer: Anheuser-Busch InBev
Naming rights
Sold to: Prudential Financial Price: $105,000,000 Term: 20 years Expires: 2027
Ticket prices
Season tickets range from $968 to $7,480 Single tickets range from $20.00 to $375.00
Attendance
2010 average attendance: 15,535 2011 average attendance: 14,775 2012 average attendance: 15,396
Suites
Quantity: 76 Price: $225,000 to $275,000 Seats: 12 to 18
Club seats
Quantity: 2,330 Price: $7,260 to $7,260
Financing
The arena cost $300 million. Newark will fund two-thirds of the arena cost with money earned from a new airport lease with the Port Authority of New York and New Jersey. The balance of the funding is expected to come from the team. The Devils are expected to get all arena revenue in the city-owned building. The team will also pay rent and cover any operating losses. City earnings from parking and taxes generated will be credited against the rent.
The $1 billion downtown Newark arena includes 4 million square feet of office space and 500,000 square feet of retail space.
In addition to the standard premium seat offerings, the venue has two lounges – one called Fire and the other Ice. Both have appropriate decor and will carry corporate sponsorship. The spaces are intended to be a destination for fans both before and after events.
The suites do not include refrigerators. The Devils say their research finds that guests are hesitant to simply reach in for a beverage, feeling they are intruding in their host’s private space. Instead, beverages will be provided in iced buckets, a move that has been proven to increase sales in other venues.
Prudential Financial has purchased naming rights to the new arena in a 20-year deal valued at $105 million. The facility was built just a few blocks from Prudential's headquarters.
Prudential will pay the Devils $4.5 million a year for the first five years of the agreement, and payments will increase 2.5 percent annually for the rest of the term, according to Jeff Vanderbeek, principal owner of the Devils. (Facilities, Financial, Ice Hockey, NHL, Professional Sports)