Cranston Top Golf

Lease: Facility Fee

 

Remember you have heard it.    $1 per ticket sold goes to a Capital Fund to be used for Capital Repairs.  Actually that amount may have changed.


Did you know that it is limited to $200,000


Anything above that goes to the WooSox (the tenant).


Page 58 of this link



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Editor's note:   $200,000 is nothing for a $160,000,000 stadium.  Just look at how much capital improvements have cost at the DCU.    There should not be a cap on this!!!  







Comments

Anonymous said…
Missed this one but I went back and read it. For ball park ticketed events $2 is assessed on the ticket. The first $200k does go into a Capital Fund. Any revenue above $200k goes to the WooSox and WooSox can use these funds for the lease payments and can keep funds over that. For City events the facility fee is $1 and goes to the Capital Fund.
On a ballpark which cost $160 million $200,000 is not a lot of money and it hopefully will be enough to maintain the building but one never knows.
Anonymous said…
$200,000 is .013 percent of the cost. Not a whole hell of a lot especially when you have to maintain the facilities to some standards. On this line, didn't Pawtucket sue the PawSox for not maintaining the facility? What ever happened with that suit?
Financially the WooSox continue to rake in the cash, without paying taxes. Simple math from last season, attendance 362,555 times $2 equals $725,110, less $200,000 leaves 525,110 in revenues on top of everything else. They died and went to heaven when they met the City,and they don't pay taxes.
Anonymous said…
You guys may be forgetting that there are warranties on new construction.
Anonymous said…
Good point on the warranties. One thing that just came to mind is the changes that occured between the first and second season. A new scoreboard and seating was added in right field. This is probably a normal occurrence on any new facility. I can say that the scoreboard was probably added because of the obstructed view down the 3rd base line seating. These types of improvements will probably occur for the next few years and $200,000 is not a lot of money.
A question, who decides on these type of expenses, the Baseball commission who has not met in months?
Anonymous said…
It just hit me. The amount that the WooSox get from the surcharge after the $200,000 is paid out is more than their lease payment!