Venue Detail
Charlotte Bobcats
RSV Pro Facilities Report
March, 2015
Charlotte Bobcats
129 West Trade St Ste 700 Charlotte, NC 28202 Phone: 704-424-4120 Fax: 704-333-2340 URL: www.bobcatsbasketball.com Owner: Michael Jordan and other investors League: National Basketball Association, Eastern Conference, Southeast
Venue
Time Warner Cable Arena, 333 E. Trade St, Charlotte, NC 28202 Owner: City of Charlotte Managed by: Team Built: 2005 Capacity: 19,023 Concessionaire: The Levy Restaurants Suite caterer: The Levy Restaurants Soft drink:
Naming rights
Sold to: Time Warner Cable
Ticket prices
Season tickets range from $328 to $3,649 Single tickets range from $75.00 to $750.00
Attendance
2012 average attendance: 14,757 2013 average attendance: 15,324
Suites
Quantity: 60 Term: 5 to 9 years Price: $95,000 to $170,000 Seats: 16 to 22
Club seats
Quantity: 2,600 Term: 1 to 3 years Price: $3,740 to $12,100
Financing
The $200 million arena is publicly funded with help from private loans. A hotel-motel tax is helping fund the new arena by supporting bond-like certificates of participation.
The new franchise pays no rent, but contributes $23.2 million over 10 years to repay Bank of America and Wachovia, which are helping fund the new arena with a $100 million loan.
The Bobcats opened their new arena in 2005. In 2014, the team's reverted to the original moniker -- the Hornets.
One of its luxury suite offerings is a $350,000 platinum level suite. Wachovia Corp. has purchased one. Eight Gold Level Boxes lease for $250,000 per year.
Marketers hope the all-inclusive nature of the suites will help them sell the space in an already crowded market. Where suites at Ericsson Stadium and Lowe's Motor Speedway just include NFL games or NASCAR events, the arena suites have everything from basketball to concerts.
The team offered a new twist on the personal seat license idea by giving any fan who buys five years worth of season tickets control over their individual seat. With that control, fans can sell the rights to the seat to others. The Bobcats charge $250 for regular seats and $500 for club seats to make the transfer.
Team officials said the plan was created after listening to fans' ideas. They also hope it will build loyalty.
In 2013, the team expanded what it calls its Hardwood Club section increasing the courtside seats to 54, up from 46 previously. Each courtside seat costs $43,000 per season, based on a rate of $1,000 for each game. Buyers must commit to a three-year contract.
Perks include parking beneath the arena where players park their cars and access to a private lounge area with unlimited food and drink. Hardwood Club members also receive a private storage locker at the arena.
The venue’s 37 royal boxes and 22 terrace tables are sold in increments of four to eight seats and carry a range of service options, from an all-inclusive food and drink tab to tickets for concerts and other arena events, in addition to the Bobcats’ season. Prices range from $23,000 to $86,000.
The arena offers the Crown Club. Membership is $200 and three additional guests are allowed. (Basketball, Facilities, NBA, Professional Sports, Venue)