Venue Detail
Nashville Predators
RSV Pro Facilities Report
March, 2015
Nashville Predators
501 Broadway Nashville, TN 37203 Phone: 615-770-2300 Fax: 615-770-2309 URL: ww.nashvillepredators.com Owner: Predators Holdings LLC League: National Hockey League, Western Conference, Central
Venue
Bridgestone Arena, 501 Broadway, Nashville, TN 37203 Owner: Metro Government of Nashville Managed by: Team Built: 1996 Capacity: 11,000 Permanent concession stands: 23 Concessionaire: The Levy Restaurants Suite caterer: The Levy Restaurants Soft drink: Pepsi Cola Beer: Multiple
Naming rights
Sold to: Bridgestone Americas Inc. Term: 5 years Expires: 2015
Ticket prices
Season tickets range from $660 to $5,632 Single tickets range from $28.00 to $300.00
Attendance
2012 average attendance: 16,690 2013 average attendance: 16,974
Suites
Quantity: 72 Term: 3 to 7 years Price: $90,000 to $160,000 Seats: 14 to 16 Includes: Tickets, parking, concierge.
Club seats
Quantity: 1,800 Term: 3 to 5 years Price: $2,173 to $2,952 Includes: Tickets, private restaurant, wait staff.
Financing
The arena cost $130 million, paid with public funds.
Bridgestone Arena, formerly the Sommet Center, is the home of the NHL expansion Predators. The venue opened as the Gaylord Entertainment Center, but the company bought its way out of the agreement and the name reverted to Nashville Arena in 2007. Sommet Group purchased rights in 2007, but terms of that deal were not disclosed, except that it would last fewer than 10 years with rights of renewal.
Suites are leased by the venue.
The Predators' mostly local new owners say they want to do everything possible to keep the team in Nashville and they signed a lease in 2010. They bought the Predators in 2008 for $193 million from Craig Leipold, who estimated his losses since 1998 at $70 million.
The Predators' owners agreed to major lease terms with Mayor Karl Dean's agreeing to give the Predators $3 million a year for five years to manage the city-owned Sommet Center, $3.8 million a year in annual operating support and additional incentives to bring more events there. In exchange, the Predators agreed to stay in Nashville for five years.
The Predators began sales of the 90 seats in Bridgestone Arena’s new 501 Club in 2012. Members must buy at least two tickets.
The club’s three-year deal costs from $15,000 to $18,000 per seat, while one-year prices are set at $18,000. Membership includes unlimited food, wine, beer and other beverages for all arena events. Parking is included for each seat.
Six-seat price boxes are also on sale at a cost of $100,000 on a three-year contract. A four-seat box is $70,000. Both include a road trip with the team.
For the 2000-2001 season the arena saw a $2 million remodeling that included a restaurant and bar for club seat holders and improvements in concession areas for other fans.
The venue and the NHL team must compete with much larger markets, but because of its market size, the Predators cannot charge as much for premium seating and other items as teams do in larger cities. That makes the building important in providing additional revenue. Both high touch, combined with high tech are keys to the building. Wide concourses allow the team to sell destinations to building sponsors. Fox television has a slap shot center for kids.
Initial projections on the building called for profits up to $1 million to be generated after a few break-even years, but the building has struggled to make a profit. (Facilities, Ice Hockey, NHL, Professional Sports, Venue)