Cost Comparisons of NFL Stadiums & How They Were Funded

[NanceUSMC]

ARIZONA

• $395 million estimated cost for stadium project

• Public contribution -- $261.4 million- $236 million in sports authority revenue bonds; annual debt servicebacked primarily by a 1 % hotel-motel tax increase and a $3.50 car rentalsurcharge- $15.4 million from City- $10 million from Fiesta Bowl

• Private contribution -- $133.6 million- $133.6 million from team

• Cost overruns- Public authority most likely responsible for cost overruns

• 30-year lease term

• Referendum passed 11/7/00

ATLANTA

• $214 million estimated cost for stadium project; this includes stadiumconstruction, debt service, and land acquisition costs

• Public contribution -- $214 million- $214 million in revenue bonds backed by a 2.75% County hotel tax and bythe State

• Private contribution -- $0- No upfront contribution

• Cost overruns- Public authorities most likely responsible for cost overruns

• 20-year lease term

• No referendum

BALTIMORE

• $224 million estimated cost for stadium project

• Public contribution -- $200 million- $200 million in Maryland Stadium Authority bonds; annual debt servicebacked by lottery proceeds

• Private contribution -- $24 million- $24 million from team; $10 million upfront and the balance paid over 30years

• Cost overruns- State most likely responsible for cost overruns

• 30-year lease term

• No referendum

BUFFALO

• $63.25 million estimated cost for stadium project; this includes stadiumrenovation for luxury suites, club seats, concourses, etc.

• Public contribution -- $63.25 million- $63.25 million from State; annual debt service backed by State generalfunds

• Private contribution -- $0- Up upfront contribution

• Cost overruns- State most likely responsible for cost overruns

• 15-year lease term

• No referendum

CAROLINA

• $240 million estimated cost for stadium project; this includes $185 million forstadium and $55 million for land and infrastructure improvements

• Public contribution -- $55 million

- $55 million contribution for land and infrastructure improvements

• Private contribution -- $185 million- $185 million from team derived largely from the sale of PSLs and namingrights

• Cost overruns- Team responsible for cost overruns

• 31-year lease

• No referendum

CHICAGO

• $590 million estimated cost for stadium project; this includes $225 million forinfrastructure improvements and parking facilities

• Public contribution -- $390 million- $325 million in Illinois Sports Facility Authority revenue bonds; annual debt servicebacked by 2% hotel tax- $65 million from State

• Private contribution -- $200 million- $60 million from the sale of PSLs- $140 million from team

• Cost overruns- Stadium to be constructed based on a guaranteed maximum pricecontract; construction company responsible for costs beyond GMP

• 30-year lease

• No referendum

CINCINNATI

• $449.8 million estimated cost for stadium project

• Public contribution -- $424.8 million- $381.3 million in Hamilton County revenue bonds; annual debt servicebacked by a 0.5% sales tax increase to 6%- $30 million from State- $13.5 million from construction fund investment income

• Private contribution -- $25 million- $25 million from the sale of PSLs- Team also contributed naming rights at Cinergy Field, and pays annualrent and a 25-cent ticket surcharge

• Cost overruns- County responsible for cost overruns ($46 million in cost overruns isincluded in the estimated project cost)

• 26-year lease

• Referendum passed 3/19/96

CLEVELAND

• $300 million estimated cost for stadium project

• Public contribution -- $212 million- $138 million in certificates of participation (similar to bonds) issued by City ofCleveland; annual debt service backed by City 8% parking tax, 2%admission tax, hotel tax, and car rental tax, and County "sin tax" extensionon alcohol and cigarettes- $6 million from City utilities department- $3 million from Regional Transit Authority- $33 million from State appropriation- $32 million from unspecified City sources

• Private contribution -- $88 million- $10 million from Cleveland Tomorrow (business community)- $78 million from team derived partially from the sale of PSLs

• Cost overruns- City most likely responsible for cost overruns

• 30-year lease

• Referendum passed 11/7/95; referendum related to "sin tax" extension

DENVER

• $370 million estimated cost for stadium project

• Public contribution -- $230 million- $230 million from revenue bonds; annual debt service backed by six-county sales tax

• Private contribution -- $140 million- $140 million from team

• Cost overruns- Stadium district responsible for 75% and team responsible for 25% of costoverruns

• 30-year lease

• Referendum passed 11/3/98

DETROIT

• $471 million estimated cost for stadium project; this includes $312 million forstadium; $43 million for site acquisition, $39 million for parking, and $77million for contingency and other costs

• Public contribution -- $125 million- $40 million in Wayne County stadium bonds; annual debt service backed bya 1 % increase in hotel tax to 15% and a 2% increase in rental car tax to 8%- $20 million from Wayne County from the sale of surplus land- $50 million from Wayne County which includes $30 million from Detroit'sDowntown Development Authority and $20 million from a Tigers fund- $15 million from the City of Detroit- The above amounts represent some allocations between the stadiumprojects for the Lions and the Tigers

• Private contribution -- $346 million- $50 million from corporate investments for naming rights and otherbenefits- $261 million in stadium debt- $35 million in parking debt

• Cost overruns- Team most likely responsible for cost overruns

• 35-year lease

• Referendum passed 11/5/96

GREEN BAY

• $295.2 million estimated cost for stadium project; this includes stadiumrenovation and infrastructure improvements

• Public contribution -- $169.1 million- $160 million in bonds; annual debt service backed by a 0.5% sales taxincrease to 5.5% in Brown County- $9.1 million from State for infrastructure improvements

• Private contribution -- $126.1 million- $92.5 million from the sale of user fees- $20.6 million from Packers stock proceeds- $13.0 million in cash

• Cost overruns- Team responsible for cost overruns

• 30-year lease

• Referendum passed 9/12/00

HOUSTON

• $424 million estimated cost for stadium project; this includes $310 million forstadium construction, $88.4 million for land acquisition and parking, and $25.6million for financing and other costs

• Public contribution -- $309 million

- $252 million in Houston/Harris County Sports Authority bonds; annual debt servicebacked by hotel/motel tax, car rental tax, and mixed beverage tax

- $31 million from Houston/Harris County Sports Authority for financingcosts- $26 million from Harris County for chilled water plant

• Private contribution -- $115 million- $50 million from team derived mostly from the sale of PSLs- $65 million in taxable bonds; annual debt service backed by team andRodeo rent, parking surcharges, ticket surcharges, and sales tax rebates

• Cost overruns- Stadium to be constructed based on a guaranteed maximum pricecontract

• Referendum passed 11/5/96

JACKSONVILLE

• $161 million estimated cost for stadium project; this includes $135 million forstadium renovation and $26 million for infrastructure improvements

• Public contribution -- $146 million- $120 million in City bonds; annual debt service backed by City generalfunds, State sales tax rebate ($2 million per year), hotel/motel tax, ticketsurcharges, parking surcharges, naming rights, and rent- $26 million in City outlays for infrastructure improvements

• Private contribution -- $15 million- $15 million from team

• Cost overruns- Team most likely responsible for cost overruns

• 30-year lease

• No referendum

　

NEW ENGLAND

• $406 million estimated cost for stadium project; this includes $336 million forstadium construction and $70 million for infrastructure improvements

• Public contribution -- $70 million- $70 million in State outlays for infrastructure improvements

• Private contribution -- $336 million- $336 million in team debt and equity

• Cost overruns- Team responsible for cost overruns

• 25+-year lease

• No referendum, however, Town of Foxborough approved aspects of stadiumdeal in December 1999 vote

OAKLAND

• $100 million estimated cost for stadium project; this does not include loans to theRaiders, a training facility, and other relocation costs

• Public contribution- $100 million in Oakland-Alameda Coliseum bonds; annual debt servicebacked by the City of Oakland, Alameda County, and stadium-relatedrevenues such as PSLs- An additional $97 million in Oakland-Alameda Coliseum bonds wereissued to pay for loans to the Raiders, a training facility, and otherrelocation costs

• Private contribution -- $0- No upfront contribution

• Cost overruns- Public authorities most likely responsible for cost overruns

• 16-year lease

• No referendum

PHILADELPHIA

• $518.7 million estimated cost for stadium project; this includes $392 millionfor stadium construction, $103.7 million for land acquisition and sitedevelopment, and $23 million for contingency costs

• Public contribution -- $188.7 million- $103.7 million from City for land acquisition and site development- $85 million from the State

• Private contribution -- $330 million- $330 million from team

• Cost overruns- Team responsible for cost overruns

• 30-year lease

• No referendum

　

PITTSBURGH

• $234 million estimated cost for stadium project; this includes stadiumconstruction and infrastructure improvements

• Public contribution -- $138 million- $63 million in Regional Asset District bonds- $75 million from the State

• Private contribution -- $96 million- $42 million from the sale of PSLs- $17 million from visiting team share of club seat premiums; paid over 15years- $14 million from ticket surcharges- $9 million in cash- $14 million for estimated cost overruns from team debt

• Cost overruns- Team responsible for cost overruns related to stadium design andconstruction

• 30-year lease

• Referendum did not pass in November 1997; State legislation developedalternative funding through Plan B

ST. LOUIS

• $257 million estimated cost for stadium project

• Public contribution -- $257 million- $257 million in lease revenue bonds issued by the St. Louis RegionalConvention and Sports Complex Authority

• $57 million backed by the City of St. Louis; annual debt service backed byCity appropriations

• $66 million backed by St. Louis County; annual debt service backed by a2.5% County hotel tax

• $134 million backed by State of Missouri; annual debt service backedby State appropriations

• Private contribution -- $0- No upfront contribution

• Cost overruns- Public authorities responsible for cost overruns

• 30-year lease

• No referendum

　

SEATTLE

• $465 million estimated cost for stadium project; this includes $299 million forstadium construction, $45 million for land acquisition and site preparation, $57million for exhibition facility and parking, and $64 million for other costs

• Public contribution -- $296 million- $245 million in State general obligation bonds; annual debt service backed byextension until 2020 of 2% King County hotel-motel tax, 10% facilitiesadmission tax, 10% parking tax, State lottery revenues, and State salestax credits- $27 million in deferred State sales taxes relating to sales tax onconstruction costs- $24 million in State sales tax credits and State lottery revenuesaccumulated before needed to service debt on bonds

• Private contribution -- $169 million- $152 million from team- $17 million from the sale of PSLs

• Cost overruns- Team responsible for cost overruns

• 30-year lease

• Referendum passed 6/17/97

TAMPA BAY

• $168 million estimated cost for stadium project

• Public contribution -- $153 million- $180 million in Tampa Sports Authority bonds; annual debt service backed by 0.5%increase in Hillsborough County sales tax to 7%; State sales tax rebate ($2million per year); and team rent

• Private contribution -- $15 million- $15 million from team

• Cost overruns- Stadium constructed based on a guaranteed maximum price contract

• 30-year lease

• Referendum passed 9/3/96

TENNESSEE

• $292 million estimated cost for stadium project; this includes stadiumconstruction, site development, infrastructure, and relocation expenses

• Public contribution -- $220 million- $86 million in Davidson County bonds

• $60 million backed by Nashville water department's $4 million annualsurplus

• $26 million backed by one-fourth of Nashville's 4% hotel-motel tax andother revenues

• Private contribution -- $72 million- $72 million from team derived largely from the sale

of PSLs

• Cost overruns- Public authorities most likely responsible for cost overruns

• 30-year lease

• Referendum passed 5/7/96

WASHINGTON

• $259 million estimated cost for stadium project; this includes $185 million forstadium construction and $74 million for infrastructure improvements

• Public contribution -- $70 million- $58 million from State for infrastructure improvements- $12 million from County for infrastructure improvements

• Private contribution -- $189 million- $189 million in team debt and equity

• Cost overruns- Team responsible for cost overruns

• 30-year lease

• No referendum

[NanceUSMC]

Not sure about that 31 year lease thing, I've never heard that before...

[fieryprophet]

Not sure about that 31 year lease thing, I've never heard that before...

Probably meaning the lease starts while the stadium is built, but the team is supposed to play in the stadium for 30 seasons.

[charlotte49er]

Right now, most stadiums are outdated after 25 years. (Actually, most are outdated shorter time than that, due to the lengthly design phase.)

[the butch]

how about we just compare ourselves to jacksonville?