V. Wizards Case Study

Mark Lauber, a Wharton School of Business graduate, founded Branchburg Sports Complex (BSC) in 2008 after selling his and his father’s previous venture to another company. As a lover of sports and family entertainment destinations such as Disney Land, Mark envisioned bringing the “wow-factor” that these world renowned destinations possess to the realm of sports centers. BSC is a 78,000 square foot facility consisting of four indoor turf fields, basketball courts, training center, multi-level PlayMaze, arcade with redemption center, batting cages, and a three-floor 9,000 square foot interactive fantasy-themed laser tag arena. Advertising “fun and excitement for the whole family,” Mark truly provides activities for all demographics. He

When fans of a sport team attend a local professional sporting event they are more likely to spend a lot of money on concessions and entertainment either in the stadium or at local restaurants or stores around the stadium (Coates and Humphreys, 2001). Owners lose money a lot of money when there are lockouts in their sport because owners make revenue off a variety of items such as luxury box sales, concessions, and parking (Woods, 2011). During the course of a season owners, restaurants, and local businesses can lose significant amounts of business and revenue because of lockouts. If there are less lockouts in the future of professional sports, they will greatly impact owners, the economy, and local

In 2010 there was a study conducted by Greater Memphis Chamber of Commerce to determine what the economic impact of the Memphis Grizzlies and the FedEx Forum was on the economy of the greater Memphis area. A professional sports team such as the Memphis Grizzlies is going to aid the community in increasing the revenue of the local economy. Games or concerts at the arena will draw in individuals from outside of the area who will buy such things as food, luxuries, or hotel rooms, which directly impact the local economy. This is why it can be beneficial for a large community such as Memphis to be able to host a professional sports team. In order to determine the benefits and economic impact, the community and organization need to be able to determine

Before the 1500s, prosecution of witches was rare. Trials were conducted against those who were seen as suspects of “practicing harmful magic and occasional mass trials" (Bever, 2009, p. 263). These accusations were often made by children and that of their imagination. The decline; however, occurred not through the prosecutions but through its “suppressing roles” and the overall “decline in witch beliefs” (Bever, 2009, p. 285). The title of the article is “Witchcraft Prosecutions and the Decline of Magic” and it is written by Edward Bever. Bever is the Associate Professor of History, SUNY College at Old Westbury.

The past 20 years have witnessed a massive transformation of professional sports stadiums in North America and the rest of the world. In the United States and Canada alone, by 2012, 125 of the 140 teams in the five largest professional sports leagues, the National Football League (NFL), Major League Baseball (MLB), National Basketball Association (NBA), Major League Soccer (MLS), and National Hockey League (NHL), will play in stadiums constructed or significantly renovated since 1990. This new construction has come at a significant cost, the majority of which has been covered by taxpayers. Construction costs alone for major league professional sports facilities have totaled in excess of $30 billion over the past two

The United Center took the place of the old Chicago Stadium on August 18, 1994 and became home of two remarkable teams. The United Center was built by William Wirtz (owner of the Blackhawks), and Jerry Reinsdorf (majority owner of the Blackhawks and team chairman of the Bulls). The Blackhawks and Bulls each own 50 percent of the Center in a joint venture. It is the largest arena in the United Stated and the NBA. The United Center has hosted over 200 events each year and 40 million guests since its grand opening in 1994. It has a seating capacity of 20,917 seats and has kept the old nickname of Chicago Stadium. For the fans, the United Center has places called the Fandemonium, the Locker Room, and the Windy City Grill. The United Center's acoustics were designed to make the noise level loud to recreate "The Roar" like it was at Chicago Stadium. Also the United Center was renovated in 2009 and 2010 to make 169 executive suites on the third level. It also has 144 flat screen televisions, new food and beverage stations, and two new bars that open to panoramic views, new signs, new menu items, new concession stand and seating in 326 called "Backstage", two new novelty areas, and new video systems. The United Center is portrayed very well on its website and on NBA website. The website talks about the history and what it has to offer to its fans.

I am going to discuss the topic of National Football League stadiums and their public funding. The purpose of the study is to find out if funding of NFL stadiums is “bad business,” The research I will look at the impacts that a stadium has on the economy in the city. Cities’ like to have attractions that they can draw from and be proud of. Most cities have some form of sport arena, and more are being built or are planned to be built. As with any business there are positives and negatives when hosting a sports team. Cities pay multimillions to help fund and build sport stadiums for teams. I hadn’t researched or looked into this topic before, so I was very intrigued by this. At the end of this paper I will give my own personal opinion.

Then came the concern that the universities built stadiums that were too big. Many feared that there would not be enough people to fill the seats on game day. A majority of the stadiums were built too large for the time period. The teams had to grow their fan basis by winning important games in order to get more people through the gates. Also, many stadiums were built to hold one big game and crowd a year. But, would this one game bring enough money in to pay off the millions of dollars that were spent to build the stadium? The large stadiums eventually paid off when the fan base became larger, but it took years for that to happen. Now, there are so many people that want to come to the games that there is simply not enough room for everyone.

During the 1960s, while the United States was going through a civil infrastructure revolution, Texas lead the way in innovative ways; creating modern marvels that would go onto to become “Wonders of the World.” Once such building in particular lead a technical revolution, here in the city of Houston. Home to several professional sports team, and later a registered as a national land mark, the Texas created Houston Astrodome was the first in what would become multi-purposed indoor sports arenas.

For the second writing assignment I chose Chapter 39: “If We Build It, Will They Come?” because I’m a huge sports fan and one thing the state of Kentucky doesn’t have is a professional sports team. Citizens all across the state have hope that one day an NBA team will move to the city of Louisville. This chapter focuses on the cost to get a professional sports team and the impact it will leave on the economy.

As a result of the effect that it has on the Canadian economy, hockey should be named Canada’s true national sport. Accounting for roughly one-third of the National Hockey Leagues ticket sale revenue, the seven Canadian hockey teams have a much larger market than the 23 American teams. Not including the newly added Winnipeg Jets, the six Canadian teams account for 31% of the $1.2 billion (U.S) sales ticket revenue of the NHL. This means that $341,000,000.00 (U.S) is contributing to the Canadian economy annually. The Toronto Maple Leafs has the largest franchise revenue at an estimated $119,000,000.00. The ticket revenue of the Toronto Maple Leafs is the highest in the NHL at $1.5 million per game. This is an astonishing amount in comparison to the Dallas Stars at $660,000. The construction of sport facilities could cost upwards to over $1 billion (U.S). With this in mind, Canadian hockey facilities (e.g.: the Air Canada Centre in Toronto, Ontario) revenue millions of dollars annually and creates thousands of jobs. Costing $265 million to build, the Air Canada Centre generates revenue of nearly $23 million annually. Additionally, large Canadian sponsors such as Air Canada, Molson Canadian, and Tim Hortons

In the United States, new sports stadiums are commonly seen as a vital part of the redevelopment of a city having a great economic growth with the production of jobs and a positive income builder. After this, the owners of the pro sports teams with millions and millions of dollars of subsidies for the construction of new stadiums and arenas and expect these facilities to generate economic benefits exceeding these subsidies by large margins. However, a growing body of fact indicates that professional sports facilities, and the franchises they are home to, may not be engines of economic benefit anywhere claims Sachse, “. In reality, sports franchises typically account for a very small proportion of the total economic output of the cities in which they reside.” Some economical studies on the amount of income and employment in US cities find no evidence of positive economic benefits associated with past sports facility construction and some studies find that professional sports facilities and teams have a net negative economic impact on income and employment. It just shows that these results suggest that at best, professional sports teams and facilities provide non-pecuniary benefits like civic pride, and a greater sense of community, along with consumption benefits to those attending games and following the local team in the media; at worst, residents

The Hartford civic centre was firstly planned in 1970 as a part central maintenance plan, the stadium was constructed during a period from 1972 to 1973, and contained a basketball court and seating for over 5000 audience, when it opened the stadium held large events and sporting events like the like the Hartford Whalers hockey team, and the University of Connecticut basketball and hockey games.

The new Seattle arena will play host to many visitors, but the major tenants will be with a professional NHL and NBA team. The NBA team, presumably which will be named the Super Sonics, will be primary tenant. The leasehold agreement with the Super Sonic will be include be comprehensive and extensive. However, the key provisions of the lease will likely include: term, rent, ticket revenue, concession revenue, parking revenue, naming rights, merchandising revenue, staffing, insurance, maintenance costs and responsibilities, and non-relocation.

Monumental Sports and Entertainment is an enterprise that showcases both sports organizations, the Verizon Center venue along with multiple other ones. Monumental has also started a broadcasting network which is relatively new. The Network utilizes the internet to distribute its content and provides fans with all news in DC sports. It currently does not broadcast Wizards or Capitals games.