Read more: 5 things the Vikings said about TCF Bank Stadium changes - KMSP-TV 5 things the Vikings said about TCF Bank Stadium changes - KMSP-TVQuote:
- The Vikings said the season ticket price increase at TCF Bank Stadium is because the "fan experience" will be better (like more bathrooms and better food).
That is wrong. We have been told all along that the prices of tickets isn't going to go up.They probably looked at the prices wrong.
NOBODY has EVER said that the price of tickets is not going to go up. I still have no idea where you keep pulling that out of. As the Vikings have said all along, and as I and everyone else has said all along, the price of tickets WILL increase as supply and demand change. Right now the supply is going down and demand is staying relatively the same. When the new stadium opens, the supply will go back up, but so will demand. Of course the price will go up. Add to that the fact that NFL ticket prices rise an average of 2.5% every year, and this is more than expected.
HOWEVER, you have in the past made ridiculous claims about ticket prices rising to levels in the hundreds, which would put the Vikings at the top of the average ticket price. Right now the Jets, Patriots, Giants, Bears, and Cowboys all top the list with prices in the $110-$120 range. There is no way that the Vikings tickets will ever get that high because the market simply wouldn't support it. We will continue to remain pretty much in the average range, even after the new stadium is built.
Fan experience? So the food is better and its more enjoyable to take a shit, so the prices are going up despite a mediocre team that we have to watch? Nice.
Is that a fact or do you dispute it?
If it is indeed a fact, and if indeed we have a smaller capacity while we are building a stadium that costs the same, then all I have ever asked you to do is to explain where the dollars are going to come from if the ticket prices are going to stay in the range of the teams with older, cheaper stadiums? Show me the money Jerry!
You have a great affinity for changing the subject or darting the questions when you get backed into a corner and this is no different. As I have said for years, if you can show me something, anything that shows that we can keep ticket prices the same other than your fantasy world notions and i will relent. Until then your assumptions don't pencil out.
And you keep missing the boat on the psl's that are going to impact a great number of ticket holders including at least 5 that I know personally who have stated they will not be getting season tickets any longer. Tell them ticket prices aren't going up when they just got the cost of buying the privilege of buying a season ticket.Quote:
There is no way that the Vikings tickets will ever get that high because the market simply wouldn't support it. We will continue to remain pretty much in the average range, even after the new stadium is built.
In the end it doesn't mean jack shit to me what the market will bear. What matters is what the stadium costs to build, what it costs to operate and how many butts it can hold. The rest is just simple math and your math does not pencil out.
I had to break this into two posts because my response was over the 10000 character limit. LOL.
AT&T Stadium (Cowboys) cost $1.3 billion, seats 82,500
Lucas Oil Stadium cost $720 million, seats 62,421
Soldier Field cost $13 million to build in 1924, and had a $632 million renovation, seats 61,500
Gillette Stadium cost $325 million, seats 68,756
The new Vikings stadium cill cost an estimated $975 million, and will seat 65,000 (expandable to 73,000)
So I guess I dispute those facts a little bit. The Cowboys and New Jersey stadium cost between $325 million and $625 million MORE that the new Vikings stadium, so I wouldn't call them equal at all. Lucas Oil and Gillette were cheaper, even when adjusted for inflation. If you adjust construction costs for Soldier Field for inflation (from their web site, not my numbers), the total construction and renovation is $979 million, so pretty comparable.
As for the seating capacity, the Vikings stadium is 3rd or 4th, depending on whether you want to count expandable or not. Btu either way, not the smallest seating capacity at all.
But I do understand the basic gist of the question. The answer is that the money is going to come from the combination of taxes for the public side and generated revenue for the private side.
As we have discussed before, the Vikings do not keep all of the proceeds from ticket sales. They retain 60% of the gate sales, and the rest goes into a fund that is divided pseudo-evenly among all 32 teams. For every dollar that the tickets are raised, the Vikings would recoup $0.63125 back. So let's say that the Vikings wanted to generate an extra $10 million in gate revenue per year. The Vikings would have to raise ticket prices by $24.40 per seat in order to accomplish that. That would put the average ticket price for the Vikings well over $100 per game, which would put them in the same range with the five teams I listed before. AND it would take the Vikings 50 years to recoup the construction cost, not including any interest.
So basically, raising ticket prices as a tool to recoup construction costs is a supremely bad idea because it just wouldn't be enough of a revenue mechanism to pay off the stadium costs. There are OTHER, much more effective ways to raise revenue, so it makes a hell of a lot more sense to use them. For instance, luxury seats are not included in the revenue sharing model, and neither are suites. The Vikings have been vocal about wanting to include much more non-revenue sharing seats in the new stadium, where they will get to keep 100% of the gate sales (minus taxes of course). The Metrodome had 60 suites and 2 'box' suites, and that was it. And the suites and box suites were pretty bad - no private bathroom, outdated amenities, etc. The new stadium could have as many as 3 times that number, as well as club level seating, similar to the loge boxes at TCF. This drastically increases the amount of revenue the Vikings will bring in each year. THAT is what is going to pay for the cost of a stadium. Why do you think that ownership has wanted a new stadium for the past 20 years? Because the revenue model in the Metrodome simply didn't work.