Atlanta Braves Morning Chop and Box: Norris Unable to Hold Lead
Atlanta Braves training site could cost Collier nearly $135M over 30 years, generate $20M annually
LAURA LAYDEN / NAPLES DAILY NEWS
Collier County could spend nearly $135 million in tourist tax dollars to build, finance, operate and maintain a spring training stadium for the Atlanta Braves over 30 years, according to a proposal from Fifth Avenue Advisors being considered Tuesday by commissioners.
While the private group doesn’t plan to tell commissioners how to pay for the project, its proposal shows funding from a combination of tourist tax dollars, state money and income from team leases and private naming rights. Under its model, annual revenues would match annual expenses, including debt payments.
The county would pay a little over $3 million a year to start, and increase annually until more than doubling in 30 years to $6.4 million.
“For those payments, they could get $20 million a year in direct spending in the community at hotels, restaurants and other businesses. And you have a facility you can use outside the six weeks. So we think it’s a good investment,” said Gary Price, a partner in Fifth Avenue Advisors in Naples, referring to the six weeks of spring training.
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The group’s funding model also shows $20 million coming from the state — $1 million a year for 20 years. Team leases would generate $1.1 million a year, and naming rights would add another $300,000 in revenues annually.
A spring training home for the Atlanta Braves in Collier County would look much like JetBlue Park built for the Boston Red Sox in Fort Myers. The Braves’ home would be a bit smaller, with an estimated construction cost of $53 million, according to Fifth Avenue Advisors.
The cost of the land is estimated at $25 million, bringing the total budget to $78 million. An appraisal of the 160-acre property, off Collier Boulevard near Interstate 75, still needs to be done if the county moves forward, Price said.
The new stadium’s dimensions would mirror SunTrust Park, the future home of the Atlanta Braves in Cobb County, Georgia, with 7,500 permanent seats and another 2,500 on a berm, which could include spots on the lawn. The project would also have: a 360-degree concourse; six to eight ticket windows; six premium suites for sale; two suites for Braves’ employees; an outfield bar and picnic area; seven training fields; and 12 covered batting cages with lighting.
… [more to see at the link above]…
Ed. notes – this is one of the first attempts to put estimated numbers on the economic impact of bringing the Braves to one of Florida’s coasts for Spring Training… in this case, the West Coast near Naples, FL. It certainly paints a rosy picture for the county – one of actual profit for them. At this time, team representatives and political leaders are holding meetings, exchanging figures, and having hearings.
Meanwhile in Palm Beach, the newspaper’s Food Editor wrote a piece somewhat critical of proposals to bring the Braves to her community. A PB Post letter-writer was much more blunt.
We’re still not close on either site making a commitment… but that should happen within the next 2-3 months.