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For a little info on the reason Benson is pushing the stadium issue .......

NFL's owners seek local revenue for financial edge

Chad Heiges

H. Wayne Huizenga's plans to renovate Dolphins Stadium - and to establish a sports and entertainment firm to oversee the sweeping changes - is further testament to the changing economics of professional sports in America.

As player salaries continue to rise, revenue derived from sports facilities now represents a critical portion of income streams for franchises in every U.S. professional league. Venue amenities that enhance the fan experience and attract other events are the bellwether of franchise success.

New or modernized stadiums have exploded across the American sports landscape in the last 15 years. Nearly 70 facilities used by franchises in the National Football League, National Basketball Association, National Hockey League and Major League Baseball have been erected or upgraded since 1990, and several other projects are in the planning or approval process.

Half of teams in new stadiums
Since 1995, half of all NFL franchises have moved to new confines, from Qwest Field in Seattle to Gillette Stadium in Foxborough, Mass.

Huizenga and his fellow NFL owners each receive nearly $100 million a year from national television and radio contracts, sponsorships and ticket sales, placing them several Peyton Manning touchdown passes ahead of other leagues in terms of both overall revenue and franchise equality. Yet sizeable valuation and revenue gaps - attributable to facility economics - have formed within the league.

"Revenue sharing in the NFL certainly levels the playing field, but monies from local arenas now represent the competitive difference among teams," said Jay Lenhardt, senior project manager in the Dallas office of CSL International, a sports consultancy.

Consider this: the Washington Redskins have progressed to the playoffs just once since 1991, yet the team, according to Forbes, remains the most valuable NFL franchise, at $1.1 billion. The team's owner, Daniel Snyder, has effectively boosted local revenue while continually improving amenities and capacity at FedEx Field, the Redskins' home since 1997.

The San Francisco 49ers, by contrast, a team that until the past few seasons had achieved two decades of success, are valued at $636 million, 25th in the league. Their home field, Monster Park, was constructed in 1971.

Widely considered to have the worst stadium deal in the league, the Arizona Cardinals are ranked last and, worse yet, was the only team to lose money during the 2003-2004 season, Forbes contends. Seeking to fly closer to the top, the franchise now has plans for a new $340 million stadium in Glendale, Ariz., expected to be completed in 2006.

Highly valued team in older stadium
The Miami Dolphins have harnessed tradition and the resulting brand recognition to rank continually in the top third of the league. But while the franchise achieved a 20 percent value increase from 2003 to 2004 - from $638 million to $765 million - in Forbes' rankings, only one of the 10 teams more highly valued play in a facility older than Dolphins Stadium.

http://www.bizjournals.com/southflor...17/story3.html