Let us preface this by saying, we hope that this is a huge success.
At the same time somebody has to look at the agreement and ask questions? Here is our first question. BTW here is the Link to the agreement .
According to the Boston Globe, the annual rent paid by Larry L will be approximately $1,000,000 per year.
According to the WooSox agreement, Larry L get 100% of the naming rights annually for 17 years
According to the WooSox agreement, Larry L get 100% of the ballpark advertising
According to the WooSox agreement, Larry L will get 100% of the Left Field Building advertising
According to the WooSox agreement, Larry L will get 50% of the ballpark district adverting
According to the WooSox agreement, Larry L. will get 50% of the “other”city advertising
Ballpark (Larry L) also retains all revenues froom the
operation of the ballpark including , but not limited to tickets,
concesssions, liquor and pouring revenues, branding rights, premium
seating, broadcast rights, merchandise and naming rights.
Does anyone have any idea what Polar is paying for the naming rights? Between these naming rights and these revenue streams, what
will the actual net expense be to rent this stadium from the City of
Worcester??
*** Answers:: The team makes a $6,000,000 investment and pays rent to covers the payments on the $25,900,000 “Series B Bonds”.
Editorial note:
Please note in the Zimbalist pro-forma Here are the PawSox Lease payemnts: 2022 1,315,225 2023 1,342,750 2024 1,373,925 2025 1,403,525 2026 1,436,550
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