Hartford Business Journal Editorial: XL Center

[CL82]

The main reason the Huskies play at the XL is profit.

The Celtics used to play at the HCC because they made more money than at the old Boston Garden.

Of course, if any of you want to donate the difference to the university to move games on campus. I'm sure the AD would listen to your proposal.

Pretty sure the school loses money for all but sold out games at the XL center. Even for sold out games when you consider loss concessions and loss parking revenue you’re probably looking at a profit of about than $20,000.

Auriemma once proposed having the XL Center just split the profits from games there with Connecticut. That would definitely make that venue more attractive financially.

 

[Waquoit]

Pretty sure the school loses money for all but sold out games at the XL center. Even for sold out games when you consider loss concessions and loss parking revenue you’re probably looking at a profit of about than $20,000.

Auriemma once proposed having the XL Center just split the profits from games there with Connecticut. That would definitely make that venue more attractive financially.

How did we go from "UConn loses money unless they sell 10,000 tickets" to "pretty sure the school loses money for all but sold out games"?

 

[CL82]

How did we go from "UConn loses money unless they sell 10,000 tickets" to "pretty sure the school loses money for all but sold out games"?

Did I say UConn loses money unless they sell 10,000 tickets? Link it, please.

I did a quick and dirty computation in another thread, but in essence, the rental for the XL center is $40,000 +3 dollars per seat. So it cost us about 88,000 for a full house. Assuming a cost of $25 per ticket the gross revenue we would make would be about $390,000 (15,600 x 25) in the net profit of $302,000.

At Gampel Arena we, essentially, keep our profit so 10,000 seats at $25 per seat comes out to $263,500, but at Gampel we also get parking in concessions revenue. Figure north and south garages park roughly 3000 each and add an event cost of five dollars per car that’s an additional $30,000. So revenue before concessions would be equal to $292,500 before concessions.

Thus, if we make $9,500 per game in concessions, and I have no figures whatsoever on what we do in concessions, then a sold out game at Gampel makes the school as much money as a sold out game at the XL Center, notwithstanding the differences in capacity.

Said differently a sold out game at the XL Center makes us less than $10,000 more than a sold out game at home, before any profit we make on concessions.

Now let me pick a few knits before you do, this does not include seat license fees. I don’t have that information readily available. It also doesn’t include the relatively nominal costs to open up and staff Gampel. On the other hand, it also doesn’t include the costs of transportation to Hartford, accommodations in Hartford, if we’re still doing that, and meals in Hartford. But the big take away from all of this is that playing at the XL center is not a windfall for us in any way shape or form. In the analysis above was under the best possible circumstances, a complete sell out of the facility. If we’re not selling it out, we’re losing money.

Helpful?

 

[Kemba Time]

Did I say UConn loses money unless they sell 10,000 tickets? Link it, please.

I did a quick and dirty computation in another thread, but in essence, the rental for the XL center is $40,000 +3 dollars per seat. So it cost us about 88,000 for a full house. Assuming a cost of $25 per ticket the gross revenue we would make would be about $390,000 (15,600 x 25) in the net profit of $302,000.

At Gampel Arena we, essentially, keep our profit so 10,000 seats at $25 per seat comes out to $263,500, but at Gampel we also get parking in concessions revenue. Figure north and south garages park roughly 3000 each and add an event cost of five dollars per car that’s an additional $30,000. So revenue before concessions would be equal to $292,500 before concessions.

Thus, if we make $9,500 per game in concessions, and I have no figures whatsoever on what we do in concessions, then a sold out game at Gampel makes the school as much money as a sold out game at the XL Center, notwithstanding the differences in capacity.

Said differently a sold out game at the XL Center makes us less than $10,000 more than a sold out game at home, before any profit we make on concessions.

Now let me pick a few knits before you do, this does not include seat license fees. I don’t have that information readily available. It also doesn’t include the relatively nominal costs to open up and staff Gampel. On the other hand, it also doesn’t include the costs of transportation to Hartford, accommodations in Hartford, if we’re still doing that, and meals in Hartford. But the big take away from all of this is that playing at the XL center is not a windfall for us in any way shape or form. In the analysis above was under the best possible circumstances, a complete sell out of the facility. If we’re not selling it out, we’re losing money.

Helpful?

UConn also "receives an incentive fee once an annual attendance threshold is met for each team" at the XL Center.

That quoted line is from a New London Day story this winter. I believe each team means men's basketball, women's basketball, men's hockey, but have never seen reported how much that amount is and that could certainly impact the math here.

 

[LIUCHusky]

Did I say UConn loses money unless they sell 10,000 tickets? Link it, please.

I did a quick and dirty computation in another thread, but in essence, the rental for the XL center is $40,000 +3 dollars per seat. So it cost us about 88,000 for a full house. Assuming a cost of $25 per ticket the gross revenue we would make would be about $390,000 (15,600 x 25) in the net profit of $302,000.

At Gampel Arena we, essentially, keep our profit so 10,000 seats at $25 per seat comes out to $263,500, but at Gampel we also get parking in concessions revenue. Figure north and south garages park roughly 3000 each and add an event cost of five dollars per car that’s an additional $30,000. So revenue before concessions would be equal to $292,500 before concessions.

Thus, if we make $9,500 per game in concessions, and I have no figures whatsoever on what we do in concessions, then a sold out game at Gampel makes the school as much money as a sold out game at the XL Center, notwithstanding the differences in capacity.

Said differently a sold out game at the XL Center makes us less than $10,000 more than a sold out game at home, before any profit we make on concessions.

Now let me pick a few knits before you do, this does not include seat license fees. I don’t have that information readily available. It also doesn’t include the relatively nominal costs to open up and staff Gampel. On the other hand, it also doesn’t include the costs of transportation to Hartford, accommodations in Hartford, if we’re still doing that, and meals in Hartford. But the big take away from all of this is that playing at the XL center is not a windfall for us in any way shape or form. In the analysis above was under the best possible circumstances, a complete sell out of the facility. If we’re not selling it out, we’re losing money.

Helpful?

Approximately 2600 tickets are reserved for students at Gampel. Students don’t pay for bball tickets. @ $25 per ticket that amounts to $65,000 in revenue you were counting.

 

[Palatine]

Did I say UConn loses money unless they sell 10,000 tickets? Link it, please.

I did a quick and dirty computation in another thread, but in essence, the rental for the XL center is $40,000 +3 dollars per seat. So it cost us about 88,000 for a full house. Assuming a cost of $25 per ticket the gross revenue we would make would be about $390,000 (15,600 x 25) in the net profit of $302,000.

At Gampel Arena we, essentially, keep our profit so 10,000 seats at $25 per seat comes out to $263,500, but at Gampel we also get parking in concessions revenue. Figure north and south garages park roughly 3000 each and add an event cost of five dollars per car that’s an additional $30,000. So revenue before concessions would be equal to $292,500 before concessions.

Thus, if we make $9,500 per game in concessions, and I have no figures whatsoever on what we do in concessions, then a sold out game at Gampel makes the school as much money as a sold out game at the XL Center, notwithstanding the differences in capacity.

Said differently a sold out game at the XL Center makes us less than $10,000 more than a sold out game at home, before any profit we make on concessions.

Now let me pick a few knits before you do, this does not include seat license fees. I don’t have that information readily available. It also doesn’t include the relatively nominal costs to open up and staff Gampel. On the other hand, it also doesn’t include the costs of transportation to Hartford, accommodations in Hartford, if we’re still doing that, and meals in Hartford. But the big take away from all of this is that playing at the XL center is not a windfall for us in any way shape or form. In the analysis above was under the best possible circumstances, a complete sell out of the facility. If we’re not selling it out, we’re losing money.

Helpful?

Doe seat include seat "donations?" How about merchandising?

 

[CL82]

Approximately 2600 tickets are reserved for students at Gampel. Students don’t pay for bball tickets. @ $25 per ticket that amounts to $65,000 in revenue you were counting.

Is there a similar number reserved at the XL center?

 

[CL82]

Doe seat include seat "donations?"

No, as expressly stated above it does not. I don’t have those numbers.

 

[Waquoit]

Did I say UConn loses money unless they sell 10,000 tickets? Link it, please.

I didn't say you, I said we. Are you going to deny that the 10,000 number is the number we've (meaning the Yard) been using as the break even number for awhile now? And I don't think you know what a "nit" is.

 

[CL82]

I didn't say you, I said we. Are you going to deny that the 10,000 number is the number we've (meaning the Yard) been using as the break even number for awhile now? And I don't think you know what a "nit" is.

Lol, Yeah kind of not my job to figure out how to give meaning to whatever you imagine you read on the Boneyard.

Anyway, did you actually read my analysis? Do you understand it? Because that something I can help you with, or at least take a shot at helping you with.

Thank you for your observation about nits. I’ve heard it said that you’re quite a wit about them.

 

[Waquoit]

Anyway, did you actually read my analysis?

Dismissing the XL seat donations as a nit and describing the costs to run a game at Gampel as nominal is just more of your vaunted bad faith. Your "analysis" is useless.

 

[CL82]

Dismissing the XL seat donations as a nit and describing the costs to run a game at Gampel as nominal is just more of your vaunted bad faith. Your "analysis" is useless.

Wow. You are not very bright are you? You just seem to lost get lost in the weeds, stuck on specific phrases, etc. I try to treat you seriously, but, man, you make it very hard.

In any event, the numbers above speak for themselves. It's not an audit, but it does show that the pricing of the lease at the XL seems to be targeted at making the XL at best a wash of Gampel's profitability. Don't blame me for that; blame the CRDA.

 

[ARIDE]

Hartford Business Journal editorial on why UConn sports should continue to be played in Hartford.

Bordonaro: UConn sports belong in downtown Hartford

Should UConn basketball and hockey games continue to be played in Hartford at the rundown XL Center? That question has been raised recently in a few articles and columns as well as on social media as UConn’s lease at the XL Center expires after this season. Some are arguing that playing all...

www.hartfordbusiness.com

Tear it down!!

 

[Palatine]

WWE plans May return to XL Center

WWE, the Stamford-based professional wrestling company, is returning to the XL Center after a three-year absence, company officials announced Friday. WWE plans to hold a “Monday Night Raw” event on May 9, starting at 7:30 p.m. Tickets will go on sale exclusively at XLCenter.com on March 18 at...

www.hartfordbusiness.com

 

[Fairfield_1st]

WWE plans May return to XL Center

WWE, the Stamford-based professional wrestling company, is returning to the XL Center after a three-year absence, company officials announced Friday. WWE plans to hold a “Monday Night Raw” event on May 9, starting at 7:30 p.m. Tickets will go on sale exclusively at XLCenter.com on March 18 at...

www.hartfordbusiness.com

[Said with the promo voice of The Rock] .... Finally the WWE has come back to Hartford!

 

[CL82]

[Said with the promo voice of The Rock] .... Finally the WWE has come back to Hartford!

[Randy macho Man Savage voice]: “ Yeah, it’s so great to be back here in Hartford and be in front of all you great Hartford fans… oh yeah”

 

[Ha Who]

I have a couple Hartford questions which perhaps an insider can answer. Hartford is a food desert and needs a grocery store downtown. Apparently there was a plan to build one near the Dunk which would serve north end residents also. It appears there was an uproar because it was too close to a school. Don’t understand what the issue is with that.

The other thing was Hard Rock had announced plans for a Hartford hotel seven years ago. Someone I work with who has a part time gig at the XL and Dunk said they were told the city council put a stop to both of these. Google usually allows you to find info but I can find anything on why these development projects failed.

Not trying to bash Hartford. Just wondering what happened

 

[huskymedic]

The other thing was Hard Rock had announced plans for a Hartford hotel seven years ago. Someone I work with who has a part time gig at the XL and Dunk said they were told the city council put a stop to both of these. Google usually allows you to find info but I can find anything on why these development projects failed.

Not trying to bash Hartford. Just wondering what happened

I believe Hard Rock plan bit the dust when the City tossed Centerplan out after the DDP debacle and replaced them with Randy Salvatore as the developer for the surrounding area redevelopment project.

 

[Ha Who]

I believe Hard Rock plan bit the dust when the City tossed Centerplan out after the DDP debacle and replaced them with Randy Salvatore as the developer for the surrounding area redevelopment project.

That makes sense

 

[HooperScooper]

I have a couple Hartford questions which perhaps an insider can answer. Hartford is a food desert and needs a grocery store downtown. Apparently there was a plan to build one near the Dunk which would serve north end residents also. It appears there was an uproar because it was too close to a school. Don’t understand what the issue is with that.

The other thing was Hard Rock had announced plans for a Hartford hotel seven years ago. Someone I work with who has a part time gig at the XL and Dunk said they were told the city council put a stop to both of these. Google usually allows you to find info but I can find anything on why these development projects failed.

Not trying to bash Hartford. Just wondering what happened

Remember that part of the Northland plan to build the Hartford 21 apartment tower next to the XL Center was to put in a grocery store. Northland said they tried but couldn't find anyone who could succeed there because there just aren't enough people who live around there. Bliss Supermarket was supposed to go in there but the deal fall apart (Downtown Hartford's Shopping for Grocery Stores). What is in the retail now on the ground floor there?