BY GEOFF HOBSON
The Cincinnati Enquirer
The Bengals have met their sales goals for luxury suites and club seats in their new stadium, generating more than $11 million in revenue for the 2000 season. They now have sold at least 43,000 seats overall.
Bengals President Mike Brown and County Commission President Bob Bedinghaus are expected to announce this morning at Spinney Field that the club has sold at least 80 percent of 104 suites and 80 percent of 7,500 club seats in the projected 66,965-seat stadium. The successful five-month sales campaign moves the club closer to a lease agreement with Hamilton County.
County officials need a signed lease with the Bengals by June 1 to prevent a repeal of the half-cent sales tax increase passed to help pay for new Bengals and Reds stadiums.
The club originally was required to sell at least 83 suites and 6,000 club seats by April 30 to keep its memorandum of understanding (MOU) with the county viable. But the deadline was waived after the county met its goal of selling $20 million in seat licenses and the Bengals closed in on their goal for suites and club seats.
The Bengals now have sold:
- At least 83 suites (at 16 seats a suite) averaging $70,000 for about $5.8 million.
- At least 6,000 club seats at an average $1,000 each for about $6 million.
- Nearly 36,000 seat licenses - or charter ownership agreements - approaching $26 million.
Sales of suites and club seats go toward revenue; seat license sales are applied to the team's stadium contribution.
County and Bengals officials spent Friday in a negotiating session revolving around construction costs. The meeting was characterized as "informational" by Bengals director of stadium development Troy Blackburn.
"Both sides wanted to find out about some things, and now we'll meet over the weekend and make decisions," Mr. Blackburn said. "There are still some outstanding issues, but I don't see anything preventing a deal."
Mr. Blackburn declined to say whether a proposed state-of-the-art canopied roof over the stadium, which would cost about $5 million, survived the cut.
"We've reduced the size in a cost-cutting effort," Mr. Blackburn said. "The county knows the value of it and we're talking on many items."
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Previous stories
Brown, county race deadline May 21, 1997
NFL committee OK's lease May 20, 1997
Ticket tax increase gains steam May 20, 1997
Stadium team tries to trim $48M May 6, 1997
Bengals ask lease by May 20 April 30, 1997
Stadium redesign well received April 25, 1997
Bengals leery of Wedge April 9, 1997
Stadium price tag growing April 3,1997
Stadium gaining ground? April 2,1997
Bengals won't sign till tax dies March 25,1997
Mike Brown's 'Letter to the Editor' March 25, 1997
Bengals balk at tax plan March 24,1997
Bengals want county blitz on seat licenses March 21,1997
City balks at size of stadium March 15,1997
Seat sales on target for team to stay Feb. 19,1997
'The Jungle' moving to Central Ave. Feb. 14, 1997
Stadium site to be announced this week Published Feb. 9, 1997
Seat license sales pass $20M goal Published Feb. 7, 1997
Consultants favor Riverfront West Published Dec. 20, 1996
Seat licenses $300 to $1,500 Published Dec. 18, 1996
Rules, procedure for buying seat licenses Published Dec. 18, 1996
Designs draw oohs and ahhs Published Dec. 17, 1996
Architect's drawings revealed Published Dec. 8, 1996
Site selection is a decision of a lifetime Published Dec. 2, 1996