When/If we ever expand, which side will go up first? I thought they may put on the home side and use the current press box as suites and build a new press box.
Iâd assume it would be the âawayâ side since that expansion would be cheaper due to the fact thereâs no need to build a âraisedâ upper deck over the current press box. There of course is still the option of having a matching âsuites boxâ on the âawayâ side but as of now thatâs never been in the renderings. A replacement press box has been shown built behind a âhomeâ side upper deck as well. It would be very nice if we needed a new press box PLUS suites on both sides.
After visiting a few FBS stadiums this past season suites boxes on both sides are a must in my opinion. We should strive to provide a greater value for our boosters and bad weather becomes a non-issue. I think the result would be more money for the AD.
I think we should do another set of suites on the other side too to match the box. Charge big $$ for the suites- thatâs the way to do it
I posted similar things on this board years ago (before the stadium was built and about Halton as well) and was told by many posters on here that we âdidnât needâ them and probably âcouldnât sell themâ anyway.
FWIW, I agree. We need to add suites.
I used to think our phase 2 looked okâŚthen I saw what Colorado State Rams are attempting
I posted similar things on this board years ago (before the stadium was built and about Halton as well) and was told by many posters on here that is we âdidnât needâ them and probably âcouldnât sell themâ anyway.[/quote]
I think we need them, but Iâm not sure this AD could sell them.
I posted similar things on this board years ago (before the stadium was built and about Halton as well) and was told by many posters on here that we âdidnât needâ them and probably âcouldnât sell themâ anyway.[/quote]
Damn straight we need some suites. They say our stadium is âniceâ. I think âquaintâ may be a better description. Adding some sweet suites will make it âniceâ.
I posted on the C-USA site a few months ago. Dowless disagreed, and thought that a business spending $60,000 [size=1em]was âch[font=verdana]ump changeâ, and he made some good points. I still believe that if a business was going to spend that kind of money to entertain clients they would be unlikely to spend it with us at this point with the other options available to them in our market.[/font][/size]
[size=1em]Tigermaniac Wrote: Thatâs solid, Charlotte is getting a lot of good support early.Which makes me think weâre being foolish by not making a big push to get corporate suites in the stadium as soon as possible. We have plenty of huge companies here to buy 5-10 suites.
[font=verdana]Niner National Wrote: [/font][font=verdana](08-28-2015 01:31 PM) [/font]Need to get those companies as involved as possible.
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[size=1em]ECU-DMB Fanatic Wrote: (08-28-2015 01:36 PM) Not so sure about thatâŚNC State can hardly give away the ones they built a few years ago. Many large companies have been scared âpoorâ by the last recession and how slow the economy has recovered. Most are still hoarding money and frown upon on expenditures of this nature.
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[size=1em]Nugget49er Wrote: [/size](08-30-2015 12:20 PM) [font=verdana]I am not an accountant, but I bet we have some here that can confirm this. If a company rents a luxury suite in a stadium for entertaining, and that suite comes with tickets, then they can deduct 1/2 the price of the highest price regular (not in a suite) tickets. So letâs look at Marshall for example. They have suites with 24 seats, and the most expensive season tickets are $306 each, so the business can deduct $3672 for the season. The rent on the suite is $60,000 for the season, and you have to sign a five year contract. I think our Pirate friend is correct, not too many businesses can sign up for a deal like this today unless the person putting their name on the contract can deliver additional profits that will offset the $56,000 out of pocket expense. Plus food and beverages. In a town like Huntington that might be doable. In Charlotte, business are far more likely to take clients to Hornets and Panthers games, even if they are just regular tickets.[/font]
Does anyone know what App charges for their suites? I heard it was about $25k per year. That is a big difference from $60k. I know we are in an area with larger companies, but you have to be smart about how much you charge to make sure you sell them out.
[quote=âNugget, post:590, topic:28757â]I posted on the C-USA site a few months ago. Dowless disagreed, and thought that a business spending $60,000 [size=1em]was âch[font=verdana]ump changeâ, and he made some good points. I still believe that if a business was going to spend that kind of money to entertain clients they would be unlikely to spend it with us at this point with the other options available to them in our market.[/font][/size]
[size=1em]Tigermaniac Wrote: Thatâs solid, Charlotte is getting a lot of good support early.Which makes me think weâre being foolish by not making a big push to get corporate suites in the stadium as soon as possible. We have plenty of huge companies here to buy 5-10 suites.
[font=verdana]Niner National Wrote: [/font][font=verdana](08-28-2015 01:31 PM) [/font]Need to get those companies as involved as possible.
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[size=1em]ECU-DMB Fanatic Wrote: (08-28-2015 01:36 PM) Not so sure about thatâŚNC State can hardly give away the ones they built a few years ago. Many large companies have been scared âpoorâ by the last recession and how slow the economy has recovered. Most are still hoarding money and frown upon on expenditures of this nature.
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[size=1em]Nugget49er Wrote: [/size](08-30-2015 12:20 PM) [font=verdana]I am not an accountant, but I bet we have some here that can confirm this. If a company rents a luxury suite in a stadium for entertaining, and that suite comes with tickets, then they can deduct 1/2 the price of the highest price regular (not in a suite) tickets. So letâs look at Marshall for example. They have suites with 24 seats, and the most expensive season tickets are $306 each, so the business can deduct $3672 for the season. The rent on the suite is $60,000 for the season, and you have to sign a five year contract. I think our Pirate friend is correct, not too many businesses can sign up for a deal like this today unless the person putting their name on the contract can deliver additional profits that will offset the $56,000 out of pocket expense. Plus food and beverages. In a town like Huntington that might be doable. In Charlotte, business are far more likely to take clients to Hornets and Panthers games, even if they are just regular tickets.[/font][/quote]
This is still chump-change for large corporations and many of them have enough need for suites in multiple venues also (BoA Stadium, TWC Arena and JRS for example). Also, it would seem easiest to tap into companies that we already have relationships with. For example, Duke Energy, Seimens, Hendrick Motorsports, TIAA-Cref, etc.). We donât need to build 20 suites, but starting out with 6-8 (about the size of our current âpressboxâ) would be fine for now. When those sell out, build more if we need to. Seriously, 90% of FBS programs have atleast a few suitesâŚsurely we can to.
[quote=âwoodniner, post:591, topic:28757â]Does anyone know what App charges for their suites? I heard it was about $25k per year. That is a big difference from $60k. I know we are in an area with larger companies, but you have to be smart about how much you charge to make sure you sell them out.[/quote]ODU would probably be the best comparison. Norfolk isnât Charlotte, but it is a closer comparison than Boone. Donât know if it is accurate, but I saw that they charge 20-25k per year for each of their 26 suites. Getting $60k for a suite is probably not realistic.
[quote=â919R, post:592, topic:28757â][quote=âNugget, post:590, topic:28757â]I posted on the C-USA site a few months ago. Dowless disagreed, and thought that a business spending $60,000 [size=1em]was âch[font=verdana]ump changeâ, and he made some good points. I still believe that if a business was going to spend that kind of money to entertain clients they would be unlikely to spend it with us at this point with the other options available to them in our market.[/font][/size]
[size=1em]Tigermaniac Wrote: Thatâs solid, Charlotte is getting a lot of good support early.Which makes me think weâre being foolish by not making a big push to get corporate suites in the stadium as soon as possible. We have plenty of huge companies here to buy 5-10 suites.
[font=verdana]Niner National Wrote: [/font][font=verdana](08-28-2015 01:31 PM) [/font]Need to get those companies as involved as possible.
[/size]
[size=1em]ECU-DMB Fanatic Wrote: (08-28-2015 01:36 PM) Not so sure about thatâŚNC State can hardly give away the ones they built a few years ago. Many large companies have been scared âpoorâ by the last recession and how slow the economy has recovered. Most are still hoarding money and frown upon on expenditures of this nature.
[/size]
[size=1em]Nugget49er Wrote: [/size](08-30-2015 12:20 PM) [font=verdana]I am not an accountant, but I bet we have some here that can confirm this. If a company rents a luxury suite in a stadium for entertaining, and that suite comes with tickets, then they can deduct 1/2 the price of the highest price regular (not in a suite) tickets. So letâs look at Marshall for example. They have suites with 24 seats, and the most expensive season tickets are $306 each, so the business can deduct $3672 for the season. The rent on the suite is $60,000 for the season, and you have to sign a five year contract. I think our Pirate friend is correct, not too many businesses can sign up for a deal like this today unless the person putting their name on the contract can deliver additional profits that will offset the $56,000 out of pocket expense. Plus food and beverages. In a town like Huntington that might be doable. In Charlotte, business are far more likely to take clients to Hornets and Panthers games, even if they are just regular tickets.[/font][/quote]
This is still chump-change for large corporations and many of them have enough need for suites in multiple venues also (BoA Stadium, TWC Arena and JRS for example). Also, it would seem easiest to tap into companies that we already have relationships with. For example, Duke Energy, Seimens, Hendrick Motorsports, TIAA-Cref, etc.). We donât need to build 20 suites, but starting out with 6-8 (about the size of our current âpressboxâ) would be fine for now. When those sell out, build more if we need to. Seriously, 90% of FBS programs have atleast a few suitesâŚsurely we can to.[/quote]
It might be chump change to large companies but it still needs to provide a benefit to justify the expenditure. Would taking corporate clients to a Niner football game really be an entertainment expense in demand for these corporations?? If they have suites and availability to take clients to Hornets games, Panther games and NASCAR eventsâŚtaking them to a CUSA football game where the Niners are facing MTSU doesnât seem like it would be worth any bang for any buck by comparison.
Iâm sure there would be a few companies that could/would do itâŚbut the other options for client entertainment in Charlotte dwarfs what we can offer. Being located in a large metropolitan city can have itâs drawbacks too.
Rarely agree with 919R but he is spot on, here, about reaching out to companies that have already invested in our school. Siemens, Westinghouse, Duke, CMC and Nascar teams have tens of millions in donations poured into the buildings immediately surrounding the football stadium itself at CRI. Tap that resource and let them know how great it would be to continue the partnerships and how they can continue to add value and receive long term ROI from the students and university at large. A stronger football team = a stronger university with more visibility = more quality students = the next generation of great employees. Dont sell a suite as just a place to swoon clients. Sell it as an investment, a place where Charlotte alums can go back and visit and reconnect with their alma mater on their employerâs dime as an incentive/morale booster, as a connection and branding opportunity with thousands of eyes 6 Saturdays a year, etc etc. Tie in some advertising opportunities for suite buyers. Exclusive events and meet and greets with players and staff. Make it a cool package and SELL it as such. Easy concept that would require creative storytelling and marketing. Stuff that shouldnt be hard in college sports but apparently is for us. Quit the defeatism and make a damn effort.
[quote=âTRLeader, post:594, topic:28757â][quote=â919R, post:592, topic:28757â][quote=âNugget, post:590, topic:28757â]I posted on the C-USA site a few months ago. Dowless disagreed, and thought that a business spending $60,000 [size=1em]was âch[font=verdana]ump changeâ, and he made some good points. I still believe that if a business was going to spend that kind of money to entertain clients they would be unlikely to spend it with us at this point with the other options available to them in our market.[/font][/size]
[size=1em]Tigermaniac Wrote: Thatâs solid, Charlotte is getting a lot of good support early.Which makes me think weâre being foolish by not making a big push to get corporate suites in the stadium as soon as possible. We have plenty of huge companies here to buy 5-10 suites.
[font=verdana]Niner National Wrote: [/font][font=verdana](08-28-2015 01:31 PM) [/font]Need to get those companies as involved as possible.
[/size]
[size=1em]ECU-DMB Fanatic Wrote: (08-28-2015 01:36 PM) Not so sure about thatâŚNC State can hardly give away the ones they built a few years ago. Many large companies have been scared âpoorâ by the last recession and how slow the economy has recovered. Most are still hoarding money and frown upon on expenditures of this nature.
[/size]
[size=1em]Nugget49er Wrote: [/size](08-30-2015 12:20 PM) [font=verdana]I am not an accountant, but I bet we have some here that can confirm this. If a company rents a luxury suite in a stadium for entertaining, and that suite comes with tickets, then they can deduct 1/2 the price of the highest price regular (not in a suite) tickets. So letâs look at Marshall for example. They have suites with 24 seats, and the most expensive season tickets are $306 each, so the business can deduct $3672 for the season. The rent on the suite is $60,000 for the season, and you have to sign a five year contract. I think our Pirate friend is correct, not too many businesses can sign up for a deal like this today unless the person putting their name on the contract can deliver additional profits that will offset the $56,000 out of pocket expense. Plus food and beverages. In a town like Huntington that might be doable. In Charlotte, business are far more likely to take clients to Hornets and Panthers games, even if they are just regular tickets.[/font][/quote]
This is still chump-change for large corporations and many of them have enough need for suites in multiple venues also (BoA Stadium, TWC Arena and JRS for example). Also, it would seem easiest to tap into companies that we already have relationships with. For example, Duke Energy, Seimens, Hendrick Motorsports, TIAA-Cref, etc.). We donât need to build 20 suites, but starting out with 6-8 (about the size of our current âpressboxâ) would be fine for now. When those sell out, build more if we need to. Seriously, 90% of FBS programs have atleast a few suitesâŚsurely we can to.[/quote]
It might be chump change to large companies but it still needs to provide a benefit to justify the expenditure. Would taking corporate clients to a Niner football game really be an entertainment expense in demand for these corporations?? If they have suites and availability to take clients to Hornets games, Panther games and NASCAR eventsâŚtaking them to a CUSA football game where the Niners are facing MTSU doesnât seem like it would be worth any bang for any buck by comparison.
Iâm sure there would be a few companies that could/would do itâŚbut the other options for client entertainment in Charlotte dwarfs what we can offer. Being located in a large metropolitan city can have itâs drawbacks too.[/quote]
It can be used as charitable expense. I worked at one of the companies listed above and they had a suite for a pro sports team. It was considered charitable in the accounting world.
suites in college arenât always corp. Many at USC are for elite club holders. âThe Zoneâ stretches the entire end zone and is one giant luxury suite. Has a locker room for your booze. Along the sidelines the suites/club for club members. There are $69,000 corp suites. So we would be at half that for our product.
Having worked in the biz I can tell you that that is pretty much spot on how suite sales are handled, however, like everything else, it requires effort, strong leadership and talented sales people who can draw out a plan and follow it through to its successful conclusion. In other words, the complete opposite of the UNC Charlotte Athletic Department.
Back at yaâ :
[quote=âsportsman1417, post:596, topic:28757â][quote=âTRLeader, post:594, topic:28757â][quote=â919R, post:592, topic:28757â][quote=âNugget, post:590, topic:28757â]I posted on the C-USA site a few months ago. Dowless disagreed, and thought that a business spending $60,000 [size=1em]was âch[font=verdana]ump changeâ, and he made some good points. I still believe that if a business was going to spend that kind of money to entertain clients they would be unlikely to spend it with us at this point with the other options available to them in our market.[/font][/size]
[size=1em]Tigermaniac Wrote: Thatâs solid, Charlotte is getting a lot of good support early.Which makes me think weâre being foolish by not making a big push to get corporate suites in the stadium as soon as possible. We have plenty of huge companies here to buy 5-10 suites.
[font=verdana]Niner National Wrote: [/font][font=verdana](08-28-2015 01:31 PM) [/font]Need to get those companies as involved as possible.
[/size]
[size=1em]ECU-DMB Fanatic Wrote: (08-28-2015 01:36 PM) Not so sure about thatâŚNC State can hardly give away the ones they built a few years ago. Many large companies have been scared âpoorâ by the last recession and how slow the economy has recovered. Most are still hoarding money and frown upon on expenditures of this nature.
[/size]
[size=1em]Nugget49er Wrote: [/size](08-30-2015 12:20 PM) [font=verdana]I am not an accountant, but I bet we have some here that can confirm this. If a company rents a luxury suite in a stadium for entertaining, and that suite comes with tickets, then they can deduct 1/2 the price of the highest price regular (not in a suite) tickets. So letâs look at Marshall for example. They have suites with 24 seats, and the most expensive season tickets are $306 each, so the business can deduct $3672 for the season. The rent on the suite is $60,000 for the season, and you have to sign a five year contract. I think our Pirate friend is correct, not too many businesses can sign up for a deal like this today unless the person putting their name on the contract can deliver additional profits that will offset the $56,000 out of pocket expense. Plus food and beverages. In a town like Huntington that might be doable. In Charlotte, business are far more likely to take clients to Hornets and Panthers games, even if they are just regular tickets.[/font][/quote]
This is still chump-change for large corporations and many of them have enough need for suites in multiple venues also (BoA Stadium, TWC Arena and JRS for example). Also, it would seem easiest to tap into companies that we already have relationships with. For example, Duke Energy, Seimens, Hendrick Motorsports, TIAA-Cref, etc.). We donât need to build 20 suites, but starting out with 6-8 (about the size of our current âpressboxâ) would be fine for now. When those sell out, build more if we need to. Seriously, 90% of FBS programs have atleast a few suitesâŚsurely we can to.[/quote]
It might be chump change to large companies but it still needs to provide a benefit to justify the expenditure. Would taking corporate clients to a Niner football game really be an entertainment expense in demand for these corporations?? If they have suites and availability to take clients to Hornets games, Panther games and NASCAR eventsâŚtaking them to a CUSA football game where the Niners are facing MTSU doesnât seem like it would be worth any bang for any buck by comparison.
Iâm sure there would be a few companies that could/would do itâŚbut the other options for client entertainment in Charlotte dwarfs what we can offer. Being located in a large metropolitan city can have itâs drawbacks too.[/quote]
It can be used as charitable expense. I worked at one of the companies listed above and they had a suite for a pro sports team. It was considered charitable in the accounting world.[/quote]
I actually looked up the tax regulations for deducting the suites, but I am not accountant so I defer to anyone that is. However, until I see otherwise I say these suites are barely deductible. In the Marshall example I gave, you spend $60,000 and deduct $3672. In other words, you either pay it because you want to sit there during games, or you find a way to turn the expense into sales, or you eat the loss as a goodwill gesture to the program. Coke has 8 White Gold FSLs behind me ($40,000 + ~$3500 year), and they fall squarely into the eat it category. They are usually empty, and if filled, it is with a Harris Teeter store manager and his family or something like that. Coke would surely be a target for a suite, but we have already sold them FSLs they do not use. In what world is that an easy sell?