Rentschler Field facing its largest loss since opening as UConn football attendance plummets

[CTFIRERETIRED]

Rentschler Field facing its largest loss since opening as UConn football attendance plummets

Rentschler Field is facing its largest loss since opening in 2003, as attendance at UConn football games has plummeted, cutting into sales of food, drinks and parking critical to paying the bills a…

www.courant.com

How much longer do you allow the State to hemorrhage money. How much is too much? Time end this nonsense. I don't care how much you enjoy the program. This is throwing good money after bad. You want to continue to support football?
FINE.
YOU PAY FOR IT.

 

[huskymedic]

Rentschler Field facing its largest loss since opening as UConn football attendance plummets

>>Rentschler Field is facing its largest loss since opening in 2003, as attendance at UConn football games has plummeted, cutting into sales of food, drinks and parking critical to paying the bills at the East Hartford stadium. The 40,000-seat stadium is rushing toward $1 million in red ink for the fiscal year ending June 30, nearly double the loss the previous year. The projected deficit comes as annual attendance since 2014 at UConn football games has plunged by nearly 100,000, to 58,047, state records show.<<

>>UConn pays $172,000 in rent per game at Pratt & Whitney Stadium, plus a $3-a-ticket surcharge. The surcharge does not apply to tickets that are given out as complimentary. Since 2015, the university has been responsible for paying the first $250,000 of overall operating losses at the stadium. The stadium was intended to be self-funding and does not receive money from the state for operations unless there is a loss beyond the $250,000 UConn is required to cover. In the current fiscal year ending June 30, after UConn’s $250,000, the state will likely have to find $762,000 to cover the balance of the deficit.

>>For the upcoming football season, CRDA is proposing to UConn that the south gate again be closed, but also the large lots on the southern end of stadium site. CRDA also is suggesting that season ticket holders park in one lot instead of two because neither has been filled to capacity. “Elite” season ticket holders would be given the spaces closest to the stadium. Non-season ticket holders would then park in the lot formerly used by “second tier” season ticket holders.

Hart estimates the measures would save $184,000 a year in personnel, security and equipment rental costs for lights, portable toilets and dumpsters.

“Everyone gets to park closer to building and both the stadium, and UConn will save money,” Hart said. “UConn said they would consider the plan but needed to assess the impact on season ticket holders.”<<

Alternate access link here if needed

 

[noeynox]

Rentschler’s lease with UConn prohibits the stadium from taking a loss on a concert or athletic event because essentially that would mean asking UConn to pay for other events with its $250,000 operating subsidy.

Maybe reform this part of the deal. UConn should not have anything to do with events that don't involve them and you can have more use of the building.

 

[huskysupporter]

Get off my lawn!!!!

 

[Chin Diesel]

Rentschler’s lease with UConn prohibits the stadium from taking a loss on a concert or athletic event because essentially that would mean asking UConn to pay for other events with its $250,000 operating subsidy.

Maybe reform this part of the deal. UConn should not have anything to do with events that don't involve them and you can have more use of the building.

I don't think UConn should he subsidizing poorly booked shows.
The scenario is since UConn pays the first $250k of losses, UConn could break even with football games and then have to subsidize $250k of losses from other events.

I do agree consolidating parking and entrances would he a reasonable way to reduce some costs.

 

[TMB4405]

Honestly I know it is not good the building is losing money on an annual basis, but it’s a million dollars in a state that wastes that much 100 times over on nonsensical spending. In addition, as pointed out by others the “cost” of strong athletic programs does not measure the intangible value they bring.

Just ask yourself a question.... where would Uconn be be without the hoops success of the 90’s? What kind of trickle down value does that have on the state overall?

 

[uconnric]

Rentschler Field facing its largest loss since opening as UConn football attendance plummets

Rentschler Field is facing its largest loss since opening in 2003, as attendance at UConn football games has plummeted, cutting into sales of food, drinks and parking critical to paying the bills a…

www.courant.com

How much longer do you allow the State to hemorrhage money. How much is too much? Time end this nonsense. I don't care how much you enjoy the program. This is throwing good money after bad. You want to continue to support football?
FINE.
YOU PAY FOR IT.

You could just move to North Carolina

 

[dvegas]

They need to make blue lot parking passes available on a game-by-game basis (after the season ticket holders are taken care of) at whatever the market will bear. $50 a game? My crew dropped our season tickets last year and only kept them the two previous years b/c of access to a blue pass. You see enough groveling on this board for them, and I've seen them sell on Stubhub for big bucks (not including the fees and shipping). I can't think of any other valuable commodity there might be some $$ upside in for this disaster....

 

[Duncan Idaho]

And we are getting schedules moving forward that got this thing built in the first place. Signed an initial recruiting class(by one service) reflecting that. Need to show something against this years home schedule. The hiring of Edsall guaranteed this was not going to be a quick fix and asking for more patience from the fans was a huge gamble.

 

[Palatine]

At least Rentschler has the potential to be a money maker. You can't say that about most of the things the state throws money at.

We should immediately sell all state and municipal parks using the logic of the original poster.

 

[Waquoit]

The Rent has been a bargain for the state.

 

[Northbound]

Come to UConn to play football and you can avoid those pesky crowds that other schools have.

 

[ScottVib]

I mean you could say the same thing about the basketball teams which also lost money last year and who both have terrible deals with XL. Lets end all scholarship athletics and save money for the state!

Obviously that isn't serious (hell I'm one of the few suckers still buying season tickets the last few years).. athletics are the biggest marketing tool for these universities. UConn's enrollment and reputation all jumped with the athletics departments growth (courtesy of basketball first, and then even football contributed in the 2000s). Football and the exposure that can be gained, even through "buy games" with the major state schools from other states provides another opportunity to continue to push that message.

 

[huskysupporter]

They simply are not going to be able to turn around attendance with the product on the field and the horrendous coaching.

Winning will bring people back. An exciting offense would bring people back. A competent head coach will bring people back. A commitment to the program will bring people back.

None of this will happen.

 

[noeynox]

I don't think UConn should he subsidizing poorly booked shows.
The scenario is since UConn pays the first $250k of losses, UConn could break even with football games and then have to subsidize $250k of losses from other events.

I do agree consolidating parking and entrances would he a reasonable way to reduce some costs.

That's what i mean. Non uconn events should have no bearing on the school covering any losses. Said another way UConn is responsible for losses involving UConn events only. That is very messy language that could be cleaned up.

 

[CL82]

UConn pays $172,000 in rent per game at Pratt & Whitney Stadium, plus a $3-a-ticket surcharge. The surcharge does not apply to tickets that are given out as complimentary.
6 x 172,000 = ‭$1,032,000‬

UConn does not receive any parking revenue.
6 x 130,000 = ‭$‭780,000‬.

UConn pays additional $3 per paid ticket surcharge.
6 x $3 x 10,032 = $18,576

UConn guarantees first $250,000 of any operating loss.
$250,000

Cost of having CDRA own and operate the Rent last year*.
$‭2,080,576‬

*Sort of. UConn would have to carry costs that CDRA does now, but it already does for the first $250k. Keep mind that revenue from signage, cell towers and private events would be paid directly to UConn if we owned our own stadium.

Has the CDRA ever run anything for a profit? There really needs to be a change to how Connecticut thinks about the management of it's sports venues. UConn paying the CDRA is just the state taking money out one pocket and dropping it in the other. I agree with Auriemma's suggestion that no rents be charged and event profit be split between UConn and the venue (without allocation to fixed costs.) In that way the cost of the venue isn't masking by artificial revenue. I'd also close down the CDRA and pay for professional management.

 

[nadav]

A million bucks! With the way the State loses money, this is a success story.

 

[HartfordHank]

"Non-season ticket holders would then park in the lot formerly used by “second tier” season ticket holders."

So which members here on the Wesley Watt Lounge are "first tier" season ticket holders and which are "second tier" season ticket holders?

I am sure the marketing department is not happy with that choice of phrase.

 

[huskymedic]

"Non-season ticket holders would then park in the lot formerly used by “second tier” season ticket holders."

So which members here on the Wesley Watt Lounge are "first tier" season ticket holders and which are "second tier" season ticket holders?

I am sure the marketing department is not happy with that choice of phrase.

My guess is they are thinking of using gray lots for general admission/same day.

With the prices they pay (w/ required seat license)... I have no problem w/ Club and Chairback being referred to as “first tier”...

 

[UCMB88]

The entire "arrangement" between UCONN, CRDA, Rentschler and XL stinks!! The state university has to pay rent to a "quasi" state agency. The state university has to cover a portion of operating losses for a state owned venue. I mean seriously!

What other flagship state university do you know of where the football team plays off campus and has to pay rent to play there? And the men's and women's basketball teams and men's hockey team split games between two venues and have to pay rent to play at the off campus venue? Only in Connecticut!!

There has to be a better way to configure all of this so that there is not a sea of red ink. Obviously, outside events like concerts would bring in more revenue. I saw The Police at Rentschler in 2008 and it was a fantastic evening. From an article in the Courant last February: "In a twisted way, Rentschler’s overreliance on UConn actually hamstrings the building’s ability to book other events." So, why can't the lease be reworked to remove such impediments! They way things are done in this state is messed up in so many ways!

Don't get me wrong, a winning product on the field will go a long way toward putting fannies back in the seats, but a sports venue relying on the success of the teams it hosts is stupid.

I know it'a a pipe dream, but UCONN should just say enough is enough and play all home games on campus. Football is stuck at Rentschler but AD David Benedict and the BOT should say that all home basketball games will be at Gampel. Get the on-campus hockey arena up to 6,000 seats and play all home games there. I know it's way more complicated that that, but enough is enough!

 

[uconnfan68]

The Rent has been a bargain for the state.

Spend that $55million on a roof for the the Rent and be done with the XL Center.

 

[freescooter]

Rentschler Field facing its largest loss since opening as UConn football attendance plummets

Rentschler Field is facing its largest loss since opening in 2003, as attendance at UConn football games has plummeted, cutting into sales of food, drinks and parking critical to paying the bills a…

www.courant.com

How much longer do you allow the State to hemorrhage money. How much is too much? Time end this nonsense. I don't care how much you enjoy the program. This is throwing good money after bad. You want to continue to support football?
FINE.
YOU PAY FOR IT.

You like basketball games at the XL Center? Fine. You pay for it! You like driving on highways? Fine. You pay for it!

 

[BugsyCT]

I know it'a a pipe dream, but UCONN should just say enough is enough and play all home games on campus. Football is stuck at Rentschler but AD David Benedict and the BOT should say that all home basketball games will be at Gampel. Get the on-campus hockey arena up to 6,000 seats and play all home games there. I know it's way more complicated that that, but enough is enough!

They'd have to build a new stadium first (old Memorial Stadium is gone). How much would that cost? And if they did would it be big enough to get FBS schools to come to Storrs to play UConn?

I love the timing of this story. UConn's been in the process recently of filling out their indy schedule for the next few upcoming years with several P5 schools, but the Courant posts this today and now we should just pull the plug on everything. Great.

 

[Husky25]

I haven't read all the post so I apologize if it's been mentioned, but...

UConn has to remove the provision that they will cover $250,000 of loses unless any event at Rentschler, other than UConn football, makes money.

 

[Husky25]

Rentschler Field facing its largest loss since opening as UConn football attendance plummets

Rentschler Field is facing its largest loss since opening in 2003, as attendance at UConn football games has plummeted, cutting into sales of food, drinks and parking critical to paying the bills a…

www.courant.com

How much longer do you allow the State to hemorrhage money. How much is too much? Time end this nonsense. I don't care how much you enjoy the program. This is throwing good money after bad. You want to continue to support football?
FINE.
YOU PAY FOR IT.

I do... and I do.