Venue Detail
Baltimore Ravens
Revenues From Sports Venues Pro Facilities Report
January, 2010
Baltimore Ravens
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11001 Owings Mills Blvd Owings Mills, MD 21117-2857 Phone: 410-547-8100 Fax: 410-654-6212 URL: www.baltimoreravens.com Owner: Steve Bisciotti League: National Football League AFC North
Venue
M&T Bank Stadium, Camden Yards, Baltimore, MD 21230 Owner: Maryland Stadium Authority Managed by: Owner Built: 1998 Capacity: 70,107 Permanent concession stands: 44 Concessionaire: Aramark Suite caterer: Aramark Soft drink: Pepsi Cola Beer: Multiple
Naming rights
Sold to: M&T Bank Price: $75, 000,000 Term: 15 years Expires: 2018
Ticket prices
Season tickets range from $450 to $1,100 Single tickets range from $36.00 to $480.00 2007 average attendance: 71,153 2008 average attendance: 71,269 2009 average attendance: 71,082
Luxury Suites
Quantity: 108 Term: 5 to 7 years Price: $60,000 to $250,000 Seats: 20 to 24 Includes: Tickets, parking.
Club seats
Quantity: 7,900 Term: 5 to 5 years Price: $1,550 to $3,335 Includes: Tickets, access to three club level lounges.
Financing
The $223 million Venue included $12 million in revenue from the team plus another $10 million it paid for naming rights. The rest of the money came from $90 million in revenue bonds and $110 million in sports lottery money. Some stadium revenues will also be used to retire the bonds. Pct. public: 95
Seat licenses
The Ravens' PSL program is a straight-forward one. The cost is $250 to $3,000 for a lifetime seat license with club seats selling for $1,075, $1,675, $2,375 and $2,975. There are 61,000 seats for sale and the program is considered sold out. The seats are transferrable.
The Baltimore Ravens moved into their new facility in 1998 without a naming rights sponsor. After the first season ended, the team set a new high water mark for naming rights deals with a 20-year agreement valued at more than $105 million with PSINet, an Internet service provider.
In 2001, PSINet went into bankruptcy and the team reacquired the rights. In 2003, M&T Bank agreed to buy naming rights to the Raven's stadium in a 15-year deal valued at $75 million. The company, formerly known as Manufacturers and Traders Trust Co., named the Venue M&T Bank Stadium.
In addition to the naming rights, PSINet got two luxury suites, tickets and exposure in other team media efforts. The company got two commercial positions in team pre-game shows and "Ravens Report" television program. PSINet had two spots in each of the team's pre-season games. Those benefits accrued to M&T.
As the PSINet deal set a new record, it also drew fire from those who felt taxpayers should have gotten a bigger bite.
The Ravens paid the Maryland Stadium Authority $10 million for the right to sell the name. The team also contributed $12 million toward the cost of the new $223 million venue. The rest of the cost was borne by the state.
In 2005, M&T Bank Stadium got $11 million in upgrades over the off season. Among the changes were 1,000 additional seats, 80 new flat screen televisions on the club level and a new concession payment system that is intended to speed transactions.
The work was funded by the Ravens and concessionaire Aramark.
The payment system allows fans to use credit cards or a new product from Mastercard that only requires that the card be waved in front of a reader. The cards have been tested at several McDonald's restaurants and at Qwest Field in Seattle and the Eagles' Heinz Field in Philadelphia. The cards work on purchases of $25 or less that don't require a signature.
Fans using the cards will be rewarded with their own concession lines which should allow faster transactions and reduce the load on stands staffed by humans. Studies also suggest that fans using credit cards spend more than those using cash. Purchases made with the cards also give the users points that can be redeemed for discounts on team merchandise and other amenities.
In 2007, the team began four major upgrades to their stadium, including a series of digital upgrades to the SmartVision video screens at either end of the stadium. The changes will create a “crisp picture,” according to Ravens senior vice president of business ventures Dennis Mannion, and will remain in place for the next three to five years, before a complete overhaul to the video system.
The team also made roughly $1 million in upgrades to the club level, creating a “new look that celebrates the history of football in Baltimore.” The new theme will serve as a real-life timeline, starting at the stadium's south side, showing high school, college, Colts and Ravens history in chronological order around the club level.
The club level also will get five more suites in the corners of the stadium.
The fourth change came on the walkway – known as "Ravens Walk" – leading into M&T Bank Stadium. Mannion said the club will work with pubs and restaurants around town to create a “tailgate-friendly” marketplace for fans to buy products outside the stadium.
In lieu of rent, the Ravens pay for all capital improvements at the stadium.
The stadium is a natural grass facility adjacent to the Orioles Camden Yard ballpark. The team has limited the number of signage buyers and allows 10 "moments" advertisers who get one minute a quarter of exclusivity. There are also five non-moments advertisers. Prices overall range from $90,000 to more than $1 million. (Facilities, Financial, Professional Sports, Venue)