Suite Economics?

xan · 10-26-2006, 12:57 PM

Benson's been complaining since the beginning of the season that only 107 of the 137 suites in the SuperDome have sold, leaving 30, probably less desirable viewing boxes available.

What are the economics of the Suite in the Dome? What amount is required upfront? How many tickets are the owner(s) forced to buy in a season? Is there a catering minimum? Taxes/security/cleanup?

I'm going to take a guess here:

$20K per remaining suite for the "timeshare" -- $600K
16 seats per game played in the dome
---times
10 Saints Games + 5 Tulane Games + 3 Bowl Games + 2 State Champs = 20 Games
---times
$100 per ticket--------------------------------------$960K
Catering (profit only) - $1K per game -- $30K
Other Expenses - $1K per game -- $30K

Net total -- $1,620K, assumed to be designated solely to Benson

Is it me, or is this a profoundly trivial number in the grand scheme of the Saints' viability in New Orleans? Don't get me wrong, but $1620 is a lot of money to me, (my net worth is just a bit smaller than half that). I'm going to go further in assuming assuming that the "sold out" concept currently includes those 480 seats, so Benson's already getting the $960K, so we're really talking only $660K. Is it really worth the hairpulling tableslamming neckvain bulging fingerpointing derision?

Is it me, or is this a smokescreen for his desire to leave no matter what?

TallySaint · 10-26-2006, 01:16 PM

You smoke alot of weed, don't you, xan.

8)

stockman311 · 10-26-2006, 01:32 PM

To answer your question: Yes it is a smokescreen. Even if all the suites were sold out he would be looking for any excuse to pull up and move. I.E. the state won't build him a new stadium or give him enough subsidies to stay. The public won't buy enough beer and hot dogs at the game to stay. He will find a way to leave because he is a greedy douche.
The crazy thing is that the T.V. money the Saints receive cover the players salaries. The ticket sales cover the costs associated with putting on the games plus the coaches and staffs salaries. Everything else goes including but not limited to, concession sales, merchandise sales, parking, training camp revenue, preseason games revenue and local deals with radio and TV stations, and state subsidies goes directly into Mr. Benson's pocket.
So the question becomes: How much is enough Mr. Benson? Don't you think at this phase in your old life you should be worried not as much about how fatly you can line your pockets but about what legacy you will leave behind on this earth and this city that has given you and your family so much? Or are you just a used car salesman at heart and looking to screw the city over to sell us the clear coat and extended warranty on the lemon you have given us for 40 years now?

TallySaint · 10-26-2006, 01:43 PM

Benson owns the suites?

8)

poydras · 10-26-2006, 01:43 PM

Why does everyone think Benson is supposed to be some kind of philanthropist? The Saints are a business! He complains because the big money seats in the Dome are still not filled. There are enough businesses and rich people in the area to easily have bought them up and be using them for a tax write off and he has every reason to complain. Look at LSU's Tiger Stadium. If you got on a waiting list for a suite right now your great grand children might have a shot at getting one. It should be like that in the SuperDome. Let's give Benson credit for staying in New Orleans as long has he has under adverse conditions and offer a little support.

TallySaint · 10-26-2006, 01:50 PM

I'm thinking many of you have the finances of the Superdome and the finances of Benson confused. Some revenue stated above has absolutely nothing to to with Benson or the Saints.
Wow.

8)

xan · 10-26-2006, 02:23 PM

Well, that's why I'm asking the question. From what I've read, Benson gets all the revenues from the Suites, except for some small portion. The Dome makes its money on the Lease arrangements with the various local businesses which include the Saints and the concessions and parking that are not Saints related.

Damnable Hemp.

TallySaint · 10-26-2006, 02:32 PM

It'd be interesting to see exactly how the various pies are sliced, if you will. Are things like that public record?

Just for giggles and grins.

Take another bong hit.

stockman311 · 10-27-2006, 10:10 AM

Originally Posted by poydras

Look at LSU's Tiger Stadium. If you got on a waiting list for a suite right now your great grand children might have a shot at getting one. It should be like that in the SuperDome. Let's give Benson credit for staying in New Orleans as long has he has under adverse conditions and offer a little support.

Poydras,
I'm not giving Benson credit for anything. All credit goes to Paul Tagliabue and the NFL for MAKING Benson keep this team in New Orleans last year. If it wasn't for the former commisioner Benson would be doing the Alamo boogie this year and that is a fact. Fine he is a business man, but again I will ask how much is enough. It's the same question that the public routinely asks of record profit taking oil companies and pharmacutical companies. When do your profits start hurting the overall pocketbooks and psyche of your customer base? Benson may be the owner but The Saints are a civic property if I have ever seen one. This conversation is not happining with the Green Bay Packers ever. It would be unheard of to move that small market team that is owned by the city, but it is perfectly reasonable for our team to move because Mr. Benson isn't hitting his proft margin percentage? That's B.S.!
Also, your L.S.U. Tiger analogy hold no ground due to the fact that the Tigers have put a WINNING product on the field for the better part of their existence, whereas Mr. Benson has put a LOSING product on the field for the better part of his ownership tenure. Give us a Championship Mr. Benson or at least a few deep drives into the playoffs and see how many of those suites are still empty.

hagan714 · 10-27-2006, 03:13 PM

question here. did they ever finish the remolding them? big money for a shell 65% complete

10-26-2006, 12:57 PM	#1
xan Professor Crab and Site Donor 2014 Join Date: Oct 2004 Location: Princeton Posts: 3,355 Blog Entries: 34	Suite Economics? Benson's been complaining since the beginning of the season that only 107 of the 137 suites in the SuperDome have sold, leaving 30, probably less desirable viewing boxes available. What are the economics of the Suite in the Dome? What amount is required upfront? How many tickets are the owner(s) forced to buy in a season? Is there a catering minimum? Taxes/security/cleanup? I'm going to take a guess here: $20K per remaining suite for the "timeshare" -- $600K 16 seats per game played in the dome ---times 10 Saints Games + 5 Tulane Games + 3 Bowl Games + 2 State Champs = 20 Games ---times $100 per ticket--------------------------------------$960K Catering (profit only) - $1K per game -- $30K Other Expenses - $1K per game -- $30K Net total -- $1,620K, assumed to be designated solely to Benson Is it me, or is this a profoundly trivial number in the grand scheme of the Saints' viability in New Orleans? Don't get me wrong, but $1620 is a lot of money to me, (my net worth is just a bit smaller than half that). I'm going to go further in assuming assuming that the "sold out" concept currently includes those 480 seats, so Benson's already getting the $960K, so we're really talking only $660K. Is it really worth the hairpulling tableslamming neckvain bulging fingerpointing derision? Is it me, or is this a smokescreen for his desire to leave no matter what?
	Calvin: "I wish I was a Tiger." Hobbes: "Common lament."

10-27-2006, 10:10 AM	#9
stockman311 1000 Posts + Join Date: Apr 2003 Location: San Diego, CA Posts: 1,137	Originally Posted by poydras Look at LSU's Tiger Stadium. If you got on a waiting list for a suite right now your great grand children might have a shot at getting one. It should be like that in the SuperDome. Let's give Benson credit for staying in New Orleans as long has he has under adverse conditions and offer a little support. Poydras, I'm not giving Benson credit for anything. All credit goes to Paul Tagliabue and the NFL for MAKING Benson keep this team in New Orleans last year. If it wasn't for the former commisioner Benson would be doing the Alamo boogie this year and that is a fact. Fine he is a business man, but again I will ask how much is enough. It's the same question that the public routinely asks of record profit taking oil companies and pharmacutical companies. When do your profits start hurting the overall pocketbooks and psyche of your customer base? Benson may be the owner but The Saints are a civic property if I have ever seen one. This conversation is not happining with the Green Bay Packers ever. It would be unheard of to move that small market team that is owned by the city, but it is perfectly reasonable for our team to move because Mr. Benson isn't hitting his proft margin percentage? That's B.S.! Also, your L.S.U. Tiger analogy hold no ground due to the fact that the Tigers have put a WINNING product on the field for the better part of their existence, whereas Mr. Benson has put a LOSING product on the field for the better part of his ownership tenure. Give us a Championship Mr. Benson or at least a few deep drives into the playoffs and see how many of those suites are still empty.

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10-26-2006, 01:16 PM	#2
TallySaint 1000 Posts + Join Date: Jul 2005 Location: Tallahassee Posts: 1,367	You smoke alot of weed, don't you, xan. 8)

10-26-2006, 01:32 PM	#3
stockman311 1000 Posts + Join Date: Apr 2003 Location: San Diego, CA Posts: 1,137	To answer your question: Yes it is a smokescreen. Even if all the suites were sold out he would be looking for any excuse to pull up and move. I.E. the state won't build him a new stadium or give him enough subsidies to stay. The public won't buy enough beer and hot dogs at the game to stay. He will find a way to leave because he is a greedy douche. The crazy thing is that the T.V. money the Saints receive cover the players salaries. The ticket sales cover the costs associated with putting on the games plus the coaches and staffs salaries. Everything else goes including but not limited to, concession sales, merchandise sales, parking, training camp revenue, preseason games revenue and local deals with radio and TV stations, and state subsidies goes directly into Mr. Benson's pocket. So the question becomes: How much is enough Mr. Benson? Don't you think at this phase in your old life you should be worried not as much about how fatly you can line your pockets but about what legacy you will leave behind on this earth and this city that has given you and your family so much? Or are you just a used car salesman at heart and looking to screw the city over to sell us the clear coat and extended warranty on the lemon you have given us for 40 years now?

10-26-2006, 01:43 PM	#4
TallySaint 1000 Posts + Join Date: Jul 2005 Location: Tallahassee Posts: 1,367	Benson owns the suites? 8)

10-26-2006, 01:43 PM	#5
poydras Team Doctor Join Date: Oct 2006 Location: Deep South Posts: 856	Why does everyone think Benson is supposed to be some kind of philanthropist? The Saints are a business! He complains because the big money seats in the Dome are still not filled. There are enough businesses and rich people in the area to easily have bought them up and be using them for a tax write off and he has every reason to complain. Look at LSU's Tiger Stadium. If you got on a waiting list for a suite right now your great grand children might have a shot at getting one. It should be like that in the SuperDome. Let's give Benson credit for staying in New Orleans as long has he has under adverse conditions and offer a little support.

10-26-2006, 01:50 PM	#6
TallySaint 1000 Posts + Join Date: Jul 2005 Location: Tallahassee Posts: 1,367	I'm thinking many of you have the finances of the Superdome and the finances of Benson confused. Some revenue stated above has absolutely nothing to to with Benson or the Saints. Wow. 8)

10-26-2006, 02:23 PM	#7
xan Professor Crab and Site Donor 2014 Join Date: Oct 2004 Location: Princeton Posts: 3,355 Blog Entries: 34	Well, that's why I'm asking the question. From what I've read, Benson gets all the revenues from the Suites, except for some small portion. The Dome makes its money on the Lease arrangements with the various local businesses which include the Saints and the concessions and parking that are not Saints related. Damnable Hemp.

10-26-2006, 02:32 PM	#8
TallySaint 1000 Posts + Join Date: Jul 2005 Location: Tallahassee Posts: 1,367	It'd be interesting to see exactly how the various pies are sliced, if you will. Are things like that public record? Just for giggles and grins. Take another bong hit.

10-27-2006, 03:13 PM	#10
hagan714 LB Mentallity Join Date: Dec 2005 Posts: 15,870 Blog Entries: 68	question here. did they ever finish the remolding them? big money for a shell 65% complete