Venue Detail
Charlotte Bobcats
Revenues From Sports Venues Pro Facilities Report
February, 2012
Charlotte Bobcats
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129 West Trade St Ste 700 Charlotte, NC 28202 Phone: 704-424-4120 Fax: 704-333-2340 URL: www.bobcatsbasketball.com Owner: Michael Jordan and other investors League: National Basketball Association, Eastern Conference, Southeast
Venue
Time Warner Cable Arena, 333 E. Trade St, Charlotte, NC 28202 Owner: City of Charlotte Managed by: Team Built: 2005 Capacity: 19,023 Concessionaire: The Levy Restaurants Suite caterer: The Levy Restaurants Soft drink:
Naming rights
Sold to: Time Warner Cable
Ticket prices
Season tickets range from $440 to $2,795 Single tickets range from $10.00 to $300.00
Attendance
2009 average attendance: 17,310 2010 average attendance: 15,824 2011 average attendance: 15,846
Suites
Quantity: 60 Term: 5 to 9 years Price: $95,000 to $170,000 Seats: 16 to 22
Club seats
Quantity: 2,600 Term: 1 to 3 years Price: $3,740 to $12,100
Financing
The $200 million arena is publicly funded with help from private loans. A hotel-motel tax is helping fund the new arena by supporting bond-like certificates of participation.
The new franchise pays no rent, but contributes $23.2 million over 10 years to repay Bank of America and Wachovia, which are helping fund the new arena with a $100 million loan.
The Bobcats opened their new arena in 2005.
One of its luxury suite offerings is a $350,000 platinum level suite. Wachovia Corp. has purchased one. Eight Gold Level Boxes lease for $250,000 per year.
Marketers hope the all-inclusive nature of the suites will help them sell the space in an already crowded market. Where suites at Ericsson Stadium and Lowe's Motor Speedway just include NFL games or NASCAR events, the arena suites have everything from basketball to concerts.
The team offered a new twist on the personal seat license idea by giving any fan who buys five years worth of season tickets control over their individual seat. With that control, fans can sell the rights to the seat to others. The Bobcats charge $250 for regular seats and $500 for club seats to make the transfer.
Team officials said the plan was created after listening to fans' ideas. They also hope it will build loyalty while the franchise is being developed.
The venue’s 37 royal boxes and 22 terrace tables are sold in increments of four to eight seats and carry a range of service options, from an all-inclusive food and drink tab to tickets for concerts and other arena events, in addition to the Bobcats’ season. Prices range from $23,000 to $86,000.
The arena offers the Crown Club. Membership is $200 and three additional guests are allowed. (Basketball, Facilities, Financial, NBANBA, Professional Sports)