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Cost Comparisons of NFL Stadiums & How They Were Funded

NanceUSMC

By NanceUSMC,
in Carolina Panthers

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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

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