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White Sox Rental Agreement Wins Again
https://mail.chicagofanatics.com/viewtopic.php?f=33&t=101159
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Author:  Kirkwood [ Wed Jun 29, 2016 7:35 am ]
Post subject:  White Sox Rental Agreement Wins Again

Quote:
The Chicago White Sox are preparing for another slow second half of the season for ticket sales at U.S. Cellular Field.

In an annual memo to the Illinois Sports Facilities Authority projecting paid attendance for the remainder of the year, the team said it expects to sell 423,466 tickets between June 1 and the end of the season.

That's about 15,000 fewer tickets than it sold during the same period last season, when it finished with a paid attendance of 1.76 million, the fifth-lowest per-game average in Major League Baseball.

The Sox's stadium rental agreement requires that the team provide a projection every June of their final paid attendance and an estimate of what they'll pay in rent and ticket fees to the agency that owns and operates the stadium.

This year, they expect to finish with a final season ticket sales total of 1.8 million, according to the memo.

If the Sox can pull it off, that would mark the second straight year of higher paid attendance on the South Side. But the team came up well short of where it thought it would be last year, selling about 150,000 fewer tickets than it projectedfor June, July, August and September.

It has been a roller coaster first three months of the season for the Sox, which had their best start in a decade but stumbled back to a .500 record. The early promise during a month when the Sox typically struggle to draw fans didn't provide much of a jolt.

Paid attendance through the first 37 home games is down by 4 percent to 20,723 per game, good for fourth-lowest in baseball.

RENT CALCULATION

Under the rental agreement, the team pays a base rent that goes up incrementally each year at the same rate as the Consumer Price Index. Then it pays ISFA $3 for every ticket it sells between 1.95 million and 2,425,000, and on a graduated pay scale beyond that.

The last time it paid any of those fees was 2010, when the team drew nearly 2.2 million fans. Aside from U.S. Cellular Field's opening season in 1991, the most the Sox have paid in ticket fees is more than $3.5 million in 2006.

Removing the estimated 130,000 tickets that are given away to sponsors or sold for less than $3 apiece, the Sox project final paid attendance for ticket fee purposes will be less than 1.7 million.

That means no ticket fees for the sixth straight season for ISFA, which is due to receive rent of $1,580,784 from the team this season.

That's not ideal for the agency, which pays off the debt obligations associated with the construction and maintenance of U.S. Cellular Field and the 2002 renovation of Soldier Field.

Most of the agency's funding comes from hotel tax revenue, which is on track to be more than enough to cover its debt payments of $38.5 million for its 2017 fiscal year.

The vast majority of that—about $36 million—is tied to Soldier Field debt. But the agency's annual payment for the lakefront stadium is scheduled to gradually balloon in the years ahead, reaching nearly $87 million in 2032.

It has come up short of its debt payments only once since the Soldier Field renovation project was approved in 2001. The agency was forced to tap into the city's share of the state income tax in 2011 to cover a $185,000 shortfall in hotel tax revenue.

Author:  Terry's Peeps [ Wed Jun 29, 2016 7:41 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

IDIOT FRIEND.

Author:  Rod [ Wed Jun 29, 2016 7:41 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Jealous Cub fans.

Author:  Frank Coztansa [ Wed Jun 29, 2016 7:51 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Mods, please delete.

Author:  pittmike [ Wed Jun 29, 2016 7:52 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Unless this is a backhanded slap by a Cubbie boy against Sox fan attendance I don't get it. This deal has been in place going on a quarter century. No one will change that and no one can do anything about it. So why continually bemoan it?

Author:  Kirkwood [ Wed Jun 29, 2016 7:54 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Frank Coztansa wrote:
Mods, please delete.

You should be happy to read Jerry can allocate money to James Shields' salary instead of taxpayers.

pittmike wrote:
Unless this is a backhanded slap by a Cubbie boy against Sox fan attendance I don't get it. This deal has been in place going on a quarter century. No one will change that and no one can do anything about it. So why continually bemoan it?

No bemoaning. Just informing. Feel however you want about the information.

Author:  Brick [ Wed Jun 29, 2016 8:10 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

I don't really understand. Are you saying it is good for the White Sox that they don't sell a lot of tickets?

This is a lose-lose situation.

If anything, this is a reason that they should have tanked for years but they aren't even doing that.

Author:  leashyourkids [ Wed Jun 29, 2016 8:11 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Why are Sock fans so angry?

Author:  Terry's Peeps [ Wed Jun 29, 2016 8:12 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

leashyourkids wrote:
Why are Sock fans so angry?


Lost to the Twins.

Author:  Frank Coztansa [ Wed Jun 29, 2016 8:12 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Kirkwood wrote:
No bemoaning. Just informing. Feel however you want about the information.
Informing is not the reason you posted this. Feel however you want, but no need to lie about your intent with this thread.

Author:  leashyourkids [ Wed Jun 29, 2016 8:13 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Frank Coztansa wrote:
Kirkwood wrote:
No bemoaning. Just informing. Feel however you want about the information.
Informing is not the reason you posted this. Feel however you want, but no need to lie about your intent with this thread.


Mad or drunk?

Author:  Kirkwood [ Wed Jun 29, 2016 8:13 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Boilermaker Rick wrote:
I don't really understand. Are you saying it is good for the White Sox that they don't sell a lot of tickets?

This is a lose-lose situation.

If anything, this is a reason that they should have tanked for years but they aren't even doing that.

It's not a losing situation for Jerry. He's able to run his Friends & Family Program and still spin a profit. I honestly wish I had the means to not worry about myself and take care of people like that.

Author:  leashyourkids [ Wed Jun 29, 2016 8:14 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Terry's Peeps wrote:
leashyourkids wrote:
Why are Sock fans so angry?


Lost to the Twins.


Is Shields going tonight?

Author:  Frank Coztansa [ Wed Jun 29, 2016 8:15 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Kirkwood wrote:
It's not a losing situation for Jerry. He's able to run his Friends & Family Program and still spin a profit.
Nobody has ever mentioned this before! Certainly not here. You are so smrt!

Author:  Brick [ Wed Jun 29, 2016 8:21 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Kirkwood wrote:
Boilermaker Rick wrote:
I don't really understand. Are you saying it is good for the White Sox that they don't sell a lot of tickets?

This is a lose-lose situation.

If anything, this is a reason that they should have tanked for years but they aren't even doing that.

It's not a losing situation for Jerry. He's able to run his Friends & Family Program and still spin a profit. I honestly wish I had the means to not worry about myself and take care of people like that.
You do understand the Sox make significantly more money if they sell more tickets right?

Also, they pretty much try and win every year to the detriment of the future.

So, less money and less chance at big ticket sales going forward.

So what exactly is the point here? Jerry is acting stupidly and not leveraging this deal well?

Author:  Terry's Peeps [ Wed Jun 29, 2016 8:22 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Put a bag on kirkwood.

Author:  Frank Coztansa [ Wed Jun 29, 2016 8:23 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

A plastic one.

Author:  Kirkwood [ Wed Jun 29, 2016 8:24 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Boilermaker Rick wrote:
You do understand the Sox make significantly more money if they sell more tickets right?

Also, they pretty much try and win every year to the detriment of the future.

So, less money and less chance at big ticket sales going forward.

So what exactly is the point here? Jerry is acting stupidly and not leveraging this deal well?

It appears Jerry values friendships and helping needy people more than profits/winning. Truly a good guy.

Author:  Terry's Peeps [ Wed Jun 29, 2016 8:25 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Image

Author:  Peoria Matt [ Wed Jun 29, 2016 8:25 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Keep up the good work, KWood.

Author:  Terry's Peeps [ Wed Jun 29, 2016 8:26 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Peoria Matt wrote:
Keep up the good work, KWood.


Matt's status as "one of the good ones" in serious jeopardy...

Author:  leashyourkids [ Wed Jun 29, 2016 8:29 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Terry's Peeps wrote:
Peoria Matt wrote:
Keep up the good work, KWood.


Matt's status as "one of the good ones" in serious jeopardy...


Who are the good ones?

Author:  Brick [ Wed Jun 29, 2016 8:29 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Kirkwood wrote:
Boilermaker Rick wrote:
You do understand the Sox make significantly more money if they sell more tickets right?

Also, they pretty much try and win every year to the detriment of the future.

So, less money and less chance at big ticket sales going forward.

So what exactly is the point here? Jerry is acting stupidly and not leveraging this deal well?

It appears Jerry values friendships and helping needy people more than profits/winning. Truly a good guy.
So no point then...

Author:  Terry's Peeps [ Wed Jun 29, 2016 8:30 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

leashyourkids wrote:
Terry's Peeps wrote:
Peoria Matt wrote:
Keep up the good work, KWood.


Matt's status as "one of the good ones" in serious jeopardy...


Who are the good ones?


NOT U

Author:  Peoria Matt [ Wed Jun 29, 2016 8:30 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Terry's Peeps wrote:
Peoria Matt wrote:
Keep up the good work, KWood.


Matt's status as "one of the good ones" in serious jeopardy...


:lol:

I couldn't allow Kirkwood to flail his arms in the turbulent Sox sea.

Author:  Kirkwood [ Wed Jun 29, 2016 8:47 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Boilermaker Rick wrote:
Kirkwood wrote:
Boilermaker Rick wrote:
You do understand the Sox make significantly more money if they sell more tickets right?

Also, they pretty much try and win every year to the detriment of the future.

So, less money and less chance at big ticket sales going forward.

So what exactly is the point here? Jerry is acting stupidly and not leveraging this deal well?

It appears Jerry values friendships and helping needy people more than profits/winning. Truly a good guy.
So no point then...

Sure there is.

The excellent lease deal negotiated by Jerry allows him to run a patronage business where results are irrelevant. The nature of baseball's cable TV revenue model and taxpayer subsidized expenses allows him to realize a satisfactory minimum return. As a result he can hand jobs out as favors.

He appears to be at a point in life where maximizing monetary return isn't a priority. One day I'd like to be a place where he is.

Author:  walkrman5 [ Wed Jun 29, 2016 8:47 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Why does this have to be a Cubs - Sox thing? It's a DIRTY political deal that everyone knows about...but yet is just supposed to accepted like all the other DIRTY political deals throughout the state. Illinois is so fucked up! Just keep up the money grabs from the public to pay for whatever shenanigans / shemadigans the DIRTY politicians come up with next.

Author:  Brick [ Wed Jun 29, 2016 8:49 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Kirkwood wrote:
Sure there is.

The excellent lease deal negotiated by Jerry allows him to run a patronage business where results are irrelevant. The nature of baseball's cable TV revenue model and taxpayer subsidized expenses allows him to realize a satisfactory minimum return. As a result he can hand jobs out as favors.

He appears to be at a point in life where maximizing monetary return isn't a priority. One day I'd like to be a place where he is.
He would make a lot more money selling more tickets. Are you saying he does not want to?

Author:  Peoria Matt [ Wed Jun 29, 2016 8:50 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

This state is screwed but this is more enjoyable as a Cubs/Sox thing.

Author:  leashyourkids [ Wed Jun 29, 2016 8:51 am ]
Post subject:  Re: White Sox Rental Agreement Wins Again

Jerry follows the farmer business model.

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