SMGT 3421 Lecture Notes - Lecture 2: Facility Management, Naproxen, Naming Rights

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31 Jan 2019
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Chapter 17
Thursday, January 31, 2019
4:20 PM
Sports Facilities
Largest facilities include motor racing tracks with over 150,000 capacity and
football/soccer stadiums that can hold in excess of 100,000 spectators
Venues often will be hosting both sports events and other entertainment
shows, such as concerts, conventions, religious meetings, and more
Key Business Concepts in Venue Management
In proposals for new venues, it is vital to achieve the support of the local
community
In the proposal stage for new venues, one must anticipate that at least one
group will contest the building of a new venue
Grounds for opposing a new venue proposal are multi-faceted including:
o Opposition to any public funding
o Opposition due to potential traffic congestion
o Potential disruption of existing community
o High levels of noise and lights
Motivations for New Venues/Renovations
Increase revenues from existing streams
Increase revenues from news streams
Enhance the spectator experience
Expanded ability to attract new events
Pursue related real estate opportunities
Seek to revitalize a specific geographic area or community
Bring a current venue up to current industry standards
Aleve safety concerns in current venue
Arguments FOR New Venue
Job creation or multiplication
o Employment is increased since new elaborate stadiums tend to require
more staff
Marketing the city
o Through television broadcasts of sporting events, cities become
marketed to potential tourists and investors
Spin-off development and expanding tax base
o New retail establishments, restaurants, and parking structures
Intangibles
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