Of course, they don't include those figures but that key part they are leaving out, is where the owners are making their money. Again, I don't know why an existing owner would settle on less what a new owner would pay unless he was losing money. In Fisher's case, I don't think that is the case otherwise he would have wanted out.
I mean a $5 million operating loss last year vs a $55 million unrealized capital gain plus whatever the realization was on 66 acres of San Jose property.
Thats another issue but it doesn't tell the truth. I just spent $100.00 on some food for my friend and I at the KC game a few weeks ago and we had our own water. Therefore, Fisher is making a killing off of concessions, parking, well drinks at the bar and other events held at the stadium. He certainly isn't spending much on players so he is making money someplace and I doubt he is losing that much otherwise he will have wanted out a long time ago.
Who's the concessionaire? I used to work in the food service industry, and for one of the big Sports and Entertainment management vendors. The Quakes aren't making a killing off of the concessions. After you pay your labor, food costs, and direct costs (which includes the concessionaire paying a commission to the Quakes or a set management fee the Quakes pay to the concessionaire, insurance costs, licenses, etc.).... there's not a whole lot left over. Where Fisher likely makes some money is from all of the non-Quakes game day events. The fee that Bay FC pays him to use PayPal Park for instance.... Corporate events, concerts, etc... Also, he only paid $100M for that stadium. Which is LESS than the cost of Subaru Park (built in 2010), which is fairly bare bones when it comes to amenities.
Fisher paid $100 million just to buy the land and build that stadium 10 years ago. That doesn't include land appreciation, training fields and retail space he built next-door. I drive by there every day a that entire area where FMC was located on Coleman Ave was blighted but now it's completely built up and is very much upgraded. It is probably worth maybe more than double or even triple that amount now. If it's not worth that today, knowing how things go up out here, that figure will continue to climb. Maybe you have never been out here and don’t understand the land values in the Silicon Valley but it’s very expensive to buy property in the valley and land is scarce. Prices appreciate with each passing year. From what the sponsors told me personally, Fisher is making a killing off the team and the stadium. Many of us fans wish Fisher would sell the team because he won’t spend money on players and is too cheap but that is another entirely different issue.
That's great.... you do realize that all costs are proportional? Yes, I'm aware that property costs/values in California are insanely high. I'm also aware that the same job in Philly that pays $100K/yr, will pay upwards of $150K/yr or more in California. Why? It costs more to live and work in California than it does in Pennsylvania......
From Wikipedia, the city bought 75 acres near the airport in 2005 for $81 million. The land was rezoned doubling it's value. I'm April 2008 it was announced that the Earthquakes had agreed to purchase the land for $131 million. As a result of the economic downturn this was negotiated down to $89 million for 65 of the 77 acres. It looks like the other 12 acres was later added for $9 million??? Based on some dodgy internet charts the land alone is now probably worth $270 to $300m. That doesn't include the cost of the stadium which was privately financed. In 2008 the average MLS valuation was $37 million, in 2024 San Jose are valued at $505 million. I don't think the owner is hurting. Just the fans.
Exactly! Land and property values out here are ludicrous and yes, Quakes fans are hurting but Fisher most definitely is not.
FYI, concerts and fireworks are not allowed at PayPal Park. It was a stipulation that was put in place when the stadium was built initially. The Clasico game vs LAG is played at Stanford and that us where they have a fireworks show. It usually sells a lot of tickets but you can’t watch the fireworks from inside the stadium so everyone leaves , gathers and watches them outside the stadium in a small section on the Stanford campus. When I went a few years ago, maybe only about 15k-20k fans hung around to watch because you can’t watch or see them anywhere else. Most of the 50k+ fans left as I recall. Also , all concerts are held at the Niners , Levi’s Stadium in Santa Clara , 4-5 miles north east of PayPal Park or at the other end of the airport runway. Fisher doesn’t get any revenue from concerts and isn’t involved. He’s moving his Las Oakland A’s to Vegas because the SF Giants blocked him form moving the team to San Jose. Also because Oaklnd is a pit and trying to get anything built there is a joke. That is why the Raiders and Warriors moved.
https://fox40.com/sports/soccer/sac...ramento-republic-fc-stadium-rancheria-wilton/ Oh boy……. Sacramento tryina play games again…… would be first tribal nations ownership of any league in North America.
Fair, someone posted that to me in MLS flavors in USMNT N&A, so yeah, probably first majority offer then
I realize they gave Elk Grove $123 Million and have a $500 million casino, but are they willing to drop another $500 million on an expansion fee?
Maybe a slight misunderstanding related to this: The 700-member Wilton Rancheria has promised to pay the community $132 million over 20 years to offset the impacts of the tribe’s development near 99 and Grant Line Road, with continuing payments afterward along with adjustments for inflation. http://www.sacbee.com/news/local/article104832431.html
Yes, but MLS has always been the Republic's goal. I don't see this helping with that. It is a great addition to the Championship team. I'm wondering if this is a sign that the Republic have finally let go of the MLS goal.
Typo - $132, not $123 - but it is still money being paid out. A big deal if MLS is still a goal. Irrelevant if they have decided to just stay a Championship team.
A couple of things. 1. I've seen claims that while the stadium's capacity is only 12k, it is being built in a way that would allow expansion to meet MLS's capacity requirements. 2. Sacramento's owners and fan base have pretty much given up on MLS expansion at this point. HOWEVER, this could end up working out in their favor as the major hang up was that while MLS was able to find billionaires willing to invest in the team, Nagle wanted those investors to only send him checks and to not have any input in the running of the team. This obviously did not go over well with the billionaires that were lined up for the team and they kept backing out. With the tribe being the majority owner now, that could open up the possibility of another billionaire being able to come in and take the team over without the requirement that Nagle run the team.
That's $132 million payable over 20 years. So $6.6 million a year until the inevitable next economic crash or pandemic when they claim they can't pay any more.
Freely admit I am bewildered how absolutely nothing is being done on the Vegas front. We know the climate situation but that can be worked around.