First Year Stadium Revenues Exceed Expectations - Southern Maryland Headline News

First Year Stadium Revenues Exceed Expectations

LA PLATA, Md. (Feb. 25, 2009)—Maryland Baseball (Opening Day Partners) and the Charles County Commissioners reported today that revenue from events held at Regency Furniture Stadium in Waldorf have resulted in the payment of $241,515 in profits to the county for the 8 month period of May 2 through December 31, 2008.

The County's share of stadium revenue from naming rights, skyboxes, scoreboard advertising, events, and admission/amusement taxes, came in 45% over the original budgeted amount of $167,123 that was guaranteed by the team in the first year, according to the commissioners.

The commissioners say several key factors helped bring about this result:

-- 27 “for-profit” events were held at the stadium in the eight months following opening day (in addition to the regular season baseball games and not-for-profit events), which netted $66,990.

-- In the fourth quarter alone, there were 20 additional events that resulted in a profit of over $9,000, and welcomed about 1,200 visitors to the stadium.

In addition to the County's share of stadium profits, Maryland Baseball also made its scheduled payment of $894,000 in June to Charles County on bonds that were issued for the team's share of the construction cost of the stadium.

Opening day for the 2009 season of the Southern Maryland Blue Crabs is April 23rd.

Source: Charles County Commissioners

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