PDA

View Full Version : Attendence


34 Inch Stick
07-01-2002, 09:39 AM
138,000 for the three game series. From my observations the crowd was overwhelmingly pro Sox (unlike previous Sox/ north side franchise series).

Where are we at for total attendance this year? How many more people are needed until the people of Illinois do not have to compensate Chairman Jerry?

Jerry_Manuel
07-01-2002, 09:45 AM
Originally posted by 34 Inch Stick
Where are we at for total attendance this year? How many more people are needed until the people of Illinois do not have to compensate Chairman Jerry?

According to espn we are at 891,047.

I'm not sure what the number is, I want to say 1.5 million but I'm not positive.

PaleHoseGeorge
07-01-2002, 09:50 AM
Reinsdorf has the sweetest lease agreement in pro sports. IIRC, the state's attendance guarantee doesn't kick in unless the Sox draw beneath 1.2 million. It's never happened.

Reinsdorf pays a nominal amount for leasing the stadium for attendance above that level. The lease payments increase with Sox attendance. I remember somebody suggesting Reinsdorf maximizes his marginal revenue around 1.6 million season attendance. I might be wrong.

I believe the details behind the IFSA's Sox lease deal are in the public domain. You could probably find it published somewhere.

Paulwny
07-01-2002, 10:37 AM
Originally posted by PaleHoseGeorge

I believe the details behind the IFSA's Sox lease deal are in the public domain. You could probably find it published somewhere.

Here's part of it :

Illinois taxpayers also got the short end of the deal. While Reinsdorf innocently insists, "I didn't get into baseball to make money. Baseball is my religion. I'm happy to break even," the Comiskey deal gave him free rent for up to 1.2 million in attendance each year. The Sox pay the state $2.50 for every ticket from 1.2 to 2 million, yet the team also gets back $5 million a year for stadium repairs and maintenance. In addition, the state buys 300,000 tickets if attendance drops below 1.5 after the year 2001, so in actuality, Reinsdorf got public funds to build his stadium and subsidies to guarantee its profitability.

That deal, which is now a model for other so-called "public-private" sports ventures, spotlights Reinsdorf's talent for drawing on other people's money and his near-absolute insistence on protecting himself financially. It's a formula he employed again in the building of the United Center in Chicago (the new Bulls stadium that opened in 1994) as he schmoozed Japanese bankers into joining a $140 million consortium comprised mainly of foreign bankers. "The Japanese bankers came in not knowing the first thing about hockey or basketball," recalls a Chicago investment banker, referring to Reinsdorf's turning on the charm when it really counts. "But after an evening with Jerry they got a very fast, higher level of comfort."