Admirals moving to Arena in 2016-17

[MayorBeluga]

According to today's paper (http://www.jsonline.com/business/admirals-move-to-panther-arena-expected-for-2016-17-season-b99687512z1-372029931.html), this is the final season of the Admirals at the Bradley Center, and they will move to the Arena for the 2016-17 season. No surprise, but I guess it's good to see it confirmed.

[MUfan12]

Helps open up some BC dates for MU a year early. I ain't mad about it.

[MU/Panther]

http://www.bizjournals.com/milwaukee/news/2016/03/15/admirals-reach-deal-on-move-to-uw-milwaukee.html


I could not be more happy for something so bad for them will end up so great. The Admirals for a very long 38 home game season does average close to 7,000 fans per game and 240,000 hockey fans to downtown Milwaukee. The dates will be way better for the Admirals and I look forward to even more upgrade to UWM Panther Arena.

[DCwarrior]

Helps open up some BC dates for MU a year early. I ain't mad about it.

2 years earlier

[ziggysfryboy]

I thought MU had 2nd priority on dates after the bucks?

[Alan Bykowski, "brewcity77"]

I thought MU had 2nd priority on dates after the bucks?

In the new arena they will, in the BC we're third in the pecking order behind the Bucks and Admirals.

[MUfan12]

2 years earlier

Ads lease at the BC was supposed to end after the 16-17 season, but they're working on a deal to end it after this year.

[Nukem2]

In the new arena they will, in the BC we're third in the pecking order behind the Bucks and Admirals.

The Petits donated the money for the BC in the hopes of getting an NHL franchise. The Admirals were a beneficiary of those hopes. Obviously, the BC was designed first and foremost for hockey.

[MU/Panther]

I'm not sure the Admirals were #2 at the Bradley Center. They were giving the choice to pick about 5 dates ahead of Marquette. Problem is the Bucks block of tons of dates and then release those dates back. Gets to be too late in the process as Marquette has filled the date on a Monday versus a" buy game".

[MU/Panther]

Admirals sign 10-year lease at Panther Arena; $6.3 million in upgrades in works http://www.bizjournals.com/milwaukee/news

[IWB]

Great news for the Admirals - happy for Jon Greenberg & Co!

[DCwarrior]

It doesn't say how much the Admirals have to pay each year/game on that lease. It only mentions the $2M renovation contribution.

How much have they been paying at the Bradley Center? If it's less per game than Marquette has been paying (assuming concession revenue is the same for both), it would be nice if that was made public so all the anti-MU people in the state could shut up and vent their anger at them instead.

[MU/Panther]

The Admirals will generate an estimated $500,000 to $750,000 in annual net income for the Panther Arena, according to the Wisconsin Center District, the state-created agency that operates the arena, Wisconsin Center convention facility and Milwaukee Theatre. The district also will own the new Bucks facility.

The Admirals will pay $1,500 to $3,000 for each regular season game, depending on whether it's a weeknight or weekend. There also will be a $2 ticket surcharge during the lease's first five years, which rises to $2.50 for the next five years.

www.jsonline.com/business/admirals-move-to-panther-arena-brings-63-million-in-upgrades-b99688723z1-372238441.html

[Gato78]

The Admirals will generate an estimated $500,000 to $750,000 in annual net income for the Panther Arena, according to the Wisconsin Center District, the state-created agency that operates the arena, Wisconsin Center convention facility and Milwaukee Theatre. The district also will own the new Bucks facility.

The Admirals will pay $1,500 to $3,000 for each regular season game, depending on whether it's a weeknight or weekend. There also will be a $2 ticket surcharge during the lease's first five years, which rises to $2.50 for the next five years.

www.jsonline.com/business/admirals-move-to-panther-arena-brings-63-million-in-upgrades-b99688723z1-372238441.html

How can that possibly be profitable for the Wisconsin Center District?

[TheSultan]

How can that possibly be profitable for the Wisconsin Center District?


I can see how you get to the $500,000 annual net income number, but only if you don't amortize the $4 million renovation over the course of the lease. And I'm not including the $250,000 annual "investments" the second five years either.

[IWB]

Well - 38 home games (as opposed to an empty building) will be about $84k. Average of 7,000 fans per game is $532k. So, you are looking at $600k for the year, plus 100% of concessions. With a hockey crowd, I imagine concessions aren't bad.

Maybe the biggest thing for the WCD is the millions the Ads are giving towards renovations. In the end, even if the WCD breaks even, it is better to have the facility used than not.

[Gato78]

What does it cost to staff, heat and light the building for those 38 games?

[TheSultan]

Well - 38 home games (as opposed to an empty building) will be about $84k. Average of 7,000 fans per game is $532k. So, you are looking at $600k for the year, plus 100% of concessions. With a hockey crowd, I imagine concessions aren't bad.

Maybe the biggest thing for the WCD is the millions the Ads are giving towards renovations. In the end, even if the WCD breaks even, it is better to have the facility used than not.


I generally agree with you. (Although the article says they don't get 100% of concessions and 5,700 - 6,000 is their attendance figures.) I just think the idea that they are selling a "net income," that doesn't include the costs of the renovations, is not accurate.

If I do some back of the envelope calculations, I think if you amortize the $4 million over 15 years, and you include the $250,000 "investments," you come pretty close to a break even proposition if you estimate $5,000 in marginal costs, and $20,000 in net concession revenue for each game.

[MU/Panther]

Why the Admirals are better off at UWM Panther arena than the Bradley Center
http://www.bizjournals.com/milwaukee/news/2016/03/16/why-the-admirals-are-better-off-at-panther-arena.html

[DCwarrior]

Why the Admirals are better off at UWM Panther arena than the Bradley Center
http://www.bizjournals.com/milwaukee/news/2016/03/16/why-the-admirals-are-better-off-at-panther-arena.html

Based on this, where was the public outrage toward the Admirals lease at the Bradley Center? Why did only Marquette receive the negative publicity toward their "sweetheart" lease at the Bradley Center where their per game payment was much higher (close to $25K-$30K I thought I remember seeing)?

[IWB]

Based on this, where was the public outrage toward the Admirals lease at the Bradley Center? Why did only Marquette receive the negative publicity toward their "sweetheart" lease at the Bradley Center where their per game payment was much higher (close to $25K-$30K I thought I remember seeing)?

It wasn't "public outcry", it was "Badgers outcry". The only people complaining were those that follow the Badger message boards...But you are exactly right.

[IWB]

Anybody else find it odd that the Admirals are pumping in more that UWM is for the naming rights?

[MU/Panther]

Anybody else find it odd that the Admirals are pumping in more that UWM is for the naming rights? No, not at all. Rent is way more for UWM. The Admirals are putting in 2 million, which is acting like a gift for their team and other events to improve the fan experience.

The naming rights took place in 2014, if you started doing the naming rights today, the price tag might be a bit higher.

[MU/Panther]

Based on this, where was the public outrage toward the Admirals lease at the Bradley Center? Why did only Marquette receive the negative publicity toward their "sweetheart" lease at the Bradley Center where their per game payment was much higher (close to $25K-$30K I thought I remember seeing)?

Cause their are folks out their that just don't like Marquette.

[Goose85]

Anybody else find it odd that the Admirals are pumping in more that UWM is for the naming rights?

I think because the WCD needs to upgrade the facility to again have ice, which I'd bet will cost a few bucks.

[MU/Panther]

I think because the WCD needs to upgrade the facility to again have ice, which I'd bet will cost a few bucks. They have had ice. They just had Skate America (figure skating) this past October that NBC was in town for.
https://www.youtube.com/watch?v=CGKsSACadio

[Goose85]

So despite not having a hockey team they maintained all the ability to have or make ice under the basketball court? I thought for some reason the ice making and maintaining functionality was no longer at the Arena. Well that is one cost they won't have to worry about.

[MayorBeluga]

I thought for some reason the ice making and maintaining functionality was no longer at the Arena.

Well Goose, just cause you lost the recipe for making ice...

[ziggysfryboy]

Well Goose, just cause you lost the recipe for making ice...

Arena, neat.

[Goose85]

Ziggy wins the thread