The XL Center is now People's Bank Arena. *nm* | Page 9 | The Boneyard

The XL Center is now People's Bank Arena. *nm*

It will always be the Hartford Civic Center to me

Prince HCC.jpg
 
I'm surprised more people are not happy with the name change "Bank Arena" or "The Bank" are good nicknames. Also XL Center name was terrible and had the worst logo ever made. Anything would have been an upgrade, IMO.
 
mjmoney23 said:
Unfortunately, the upper level looks untouched besides a new coat of paint and hopefully some new ceiling tiles.
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Correct - pretty much just new ceiling tiles, nothing else but this wasn't a surprise, they stated a while back what the improvements were. I am an upper bowl guy but they are doing it the correct way to generate more income. Just hopefully in some time not to far out there is another major update. It probably still needs another 200-300 million into it before it feels like something that was built this century.
 
That place needs to be replaced…. Better off playing at Gampel for year or so if its replacement would require the demolition etc.

XL cenfer sounds like a Fat Canp

I have fond memories of the civic center but its time passed 20 years ago
 
Does anyone know what the Wolfpack pays to use the Hartford Civic Center, uh the XL Center, um PeoplesBank Arena? It seems like the CDRA is always making some kind of accommodation for them, including giving them priority scheduling over UConn, but if I recall correctly, they pay much less to use the arena.
 
CL82 said:
Does anyone know what the Wolfpack pays to use the Hartford Civic Center, uh the XL Center, um PeoplesBank Arena? It seems like the CDRA is always making some kind of accommodation for them, including giving them priority scheduling over UConn, but if I recall correctly, they pay much less to use the arena.
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I don’t know the terms but they play 35+ games a year in Hartford vs UConn’s under 20 (for Men/Women/Hockey).
 
DSquiz said:
I don’t know the terms but they play 35+ games a year in Hartford vs UConn’s under 20 (for Men/Women/Hockey).
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I feel as if they may pay $.50 on the dollar of what we were paying. I took a quick look, but couldn't find it. I see that they typically do not make a profit and require an annual "subsidy", though it's not clear from whom that subsidy comes, I would guess that's from MSG. Last year, though, they actually had 650,000 in revenue. I think when they play, they only utilize the lower bowl, and a sellout crowd for them is 5500 people.
 
DSquiz said:
I don’t know the terms but they play 35+ games a year in Hartford vs UConn’s under 20 (for Men/Women/Hockey).
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The Wolfpack’s schedule has been out for months while UConn’s isn’t even out yet. Do people really think UConn should be able to make the Pack change their dates after tickets are on sale?
 
CL82 said:
It would be if UConn wasn't a captive tenant.
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Sort of agree but also don’t. They willingly sign the lease agreement every so odd years so captive is a strong word.

UConn’s ability to negotiate for matters like this is elementary level, and our political climate in the state is built to take advantage of those who have. So without going into more detail on that, UConn will lose every time.

Regardless, if the Wolfpack puts its schedule down 9 months ahead of time before UConn the arena won’t sit on its hands until UConn provides dates. They need to fill the arena and waiting last minute for prime UConn dates is a dumb business decision. They still sell 95% of UConn tickets whether it’s a Saturday afternoon or Tuesday evening.
 
CTBasketball said:
Sort of agree but also don’t. They willingly sign the lease agreement every so odd years so captive is a strong word.

UConn’s ability to negotiate for matters like this is elementary level, and our political climate in the state is built to take advantage of those who have. So without going into more detail on that, UConn will lose every time.

Regardless, if the Wolfpack puts its schedule down 9 months ahead of time before UConn the arena won’t sit on its hands until UConn provides dates. They need to fill the arena and waiting last minute for prime UConn dates is a dumb business decision. They still sell 95% of UConn tickets whether it’s a Saturday afternoon or Tuesday evening.
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If UConn had a choice whether or not to schedule games in Hartford the terms would be dramatically different. We would be paying far less for the use of the facility and we would have our pick of the dates. Connecticut frequently sells out the arena. The Wolfpack, at most, sells 5500 seats. Sure, they have more games, but if you look at the total number of people brought into Hartford, UConn brings in far more. Remember that the CDRA profits not only from the lease of the arena, but also from parking and concessions. In the real world, if UConn wanted it, they would hold open prime dates for it, because economically they are a far, far, far more valuable tenant. Because of the perception that UConn is a captive tenant, and will schedule the same number of games, no matter what the cost and no matter what the dates the CDRA feels under no obligation to make the accommodations it normally would if this were a free market situation.
 
CL82 said:
If UConn had a choice whether or not to schedule games in Hartford the terms would be dramatically different. We would be paying far less for the use of the facility and we would have our pick of the dates. Connecticut frequently sells out the arena. The Wolfpack, at most, sells 5500 seats. Sure, they have more games, but if you look at the total number of people brought into Hartford, UConn brings in far more. Remember that the CDRA profits not only from the lease of the arena, but also from parking and concessions. In the real world, if UConn wanted it, they would hold open prime dates for it, because economically they are a far, far, far more valuable tenant. Because of the perception that UConn is a captive tenant, and will schedule the same number of games, no matter what the cost and no matter what the dates the CDRA feels under no obligation to make the accommodations it normally would if this were a free market situation.
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I think you have to look at the UConn rent and revenue of the PBA and Rent in a broader context. To my knowledge UConn has never had to pay debt service on either building for the construction nor renovations of either building.
 
CTFAN4LIFE said:
I think you have to look at the UConn rent and revenue of the PBA and Rent in a broader context. To my knowledge UConn has never had to pay debt service on either building for the construction nor renovations of either building.
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Could that be because it doesn't own either of them?
 
CL82 said:
Could that be because it doesn't own either of them?
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Correct. My point being that if they'd own them, they'd have huge debt service like other universities do. That debt service would far outweigh the revenue that the stadia bring in. So, I'm not sure it's a bad thing for UConn. And overall, UConn has done a great job having no facilities debt on their books yet basically having all new or recently/soon to be finished facilities renovations.
 
CTFAN4LIFE said:
Correct. My point being that if they'd own them, they'd have huge debt service like other universities do. That debt service would far outweigh the revenue that the stadia bring in. So, I'm not sure it's a bad thing for UConn. And overall, UConn has done a great job having no facilities debt on their books yet basically having all new or recently/soon to be finished facilities renovations.
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Well, if you're making the argument for the university to own its own facilities, I would agree. Certainly, that's the most sensible way to avoid exorbitant rent and scheduling facilities. I wonder what the cash stream of 50 years of above market leasing and forgoing parking and concession revenue would look like versus payment of the debt service. I'm not at all confident we got the better end of that deal.

I have to say, no one is calling the Hartford Civic Center, a "new facility", but, I'm hopeful that the most recent renovations will be a net positive for us. They seem to be.

(I have to admit I wasn't expecting much from the same brain trust that made the decision to vent fryer smoke into the arena and narrow the hallways.)
 
CL82 said:
Well, if you're making the argument for the university to own its own facilities, I would agree. Certainly, that's the most sensible way to avoid exorbitant rent and scheduling facilities. I wonder what the cash stream of 50 years of above market leasing and forgoing parking and concession revenue would look like versus payment of the debt service. I'm not at all confident we got the better end of that deal.

I have to say, no one is calling the Hartford Civic Center, a "new facility", but, I'm hopeful that the most recent renovations will be a net positive for us. They seem to be.

(I have to admit I wasn't expecting much from the same brain trust that made the decision to vent fryer smoke into the arena and narrow the hallways.)
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I'm not making the arguement the University should or should not own the facilities. I'd want to see a 30-50 year financial analysis on it before coming to a conclusion... but my gut tells me it'd make sense to own facilities that are on campus and not to own off campus ones.
 
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