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Gloomy future for the Rose Bowl?
RaceBannon
Member, Moderator, Swaye's Wigwam Posts: 109,035 
https://pasadenanow.com/main/rose-bowl-operating-company-presents-gloomy-financial-outlook-for-the-stadium/
During the pandemic, the city was forced to carry $11 million in the stadium’s debt service. The city was also forced to take on the Pasadena Center Operating Company debt service which is also over $10 million.
Gordo said that the city may have to consider a Sports and Entertainment or Hospitality Operating Company.
“The reality is that the RBOC has a fragile business model, and one or two significant events can cause short and long-term damage, including exposure to the City’s General Fund. Most recently, the unexpected pandemic has caused major damage to the organization that must be immediately addressed,” according to a city staff report.
The major threats are listed as, but not limited to:
Significant debt service.
The stadium now is in the most competitive stadium market in the United States. A new stadium was recently built for the Rams and the Coliseum was renovated after USC took charge of the stadium. According to the report, in order to remain competitive, substantial additional capital is needed for both the stadium and clubhouse, as well as for the golf course.
Water expenses at the golf courses continue to significantly increase and reliance on potable water as the only golf course supply cannot be relied upon in the long term.
Security expenses continue to rapidly increase with the need to constantly change with regard to public safety.
The College Football Playoff continues to evolve and could have a significant impact on the Rose Bowl Game, which is, by far, the most lucrative event of the year for the year.
Attendance at college football games throughout the country has been declining, and the presence of two NFL teams in Los Angeles means increased competition for ticket sales for UCLA, which impacts concession and parking revenue as well. UCLA performance/attendance will have a very significant impact on RBOC net revenues.
Limited development rights for ancillary types of revenue opportunities, that are viable at similar venues.
In 2015, the RBOC opted not to hold negotiations with the NFL that could have allowed a team to play in the stadium while a new stadium is being built, largely due to opposition by neighbors living near the stadium.
In 2006 voters shot down a ballot measure that could have brought a team to the Rose Bowl permanently.
During the pandemic, the city was forced to carry $11 million in the stadium’s debt service. The city was also forced to take on the Pasadena Center Operating Company debt service which is also over $10 million.
Gordo said that the city may have to consider a Sports and Entertainment or Hospitality Operating Company.
“The reality is that the RBOC has a fragile business model, and one or two significant events can cause short and long-term damage, including exposure to the City’s General Fund. Most recently, the unexpected pandemic has caused major damage to the organization that must be immediately addressed,” according to a city staff report.
The major threats are listed as, but not limited to:
Significant debt service.
The stadium now is in the most competitive stadium market in the United States. A new stadium was recently built for the Rams and the Coliseum was renovated after USC took charge of the stadium. According to the report, in order to remain competitive, substantial additional capital is needed for both the stadium and clubhouse, as well as for the golf course.
Water expenses at the golf courses continue to significantly increase and reliance on potable water as the only golf course supply cannot be relied upon in the long term.
Security expenses continue to rapidly increase with the need to constantly change with regard to public safety.
The College Football Playoff continues to evolve and could have a significant impact on the Rose Bowl Game, which is, by far, the most lucrative event of the year for the year.
Attendance at college football games throughout the country has been declining, and the presence of two NFL teams in Los Angeles means increased competition for ticket sales for UCLA, which impacts concession and parking revenue as well. UCLA performance/attendance will have a very significant impact on RBOC net revenues.
Limited development rights for ancillary types of revenue opportunities, that are viable at similar venues.
In 2015, the RBOC opted not to hold negotiations with the NFL that could have allowed a team to play in the stadium while a new stadium is being built, largely due to opposition by neighbors living near the stadium.
In 2006 voters shot down a ballot measure that could have brought a team to the Rose Bowl permanently.
Comments
Airports
Race tracks
A neighbor who's backyard MX track can be seen from space
Right next door to an obvious college party house
The neighbor says "you guys do this every fucking week". To which I responded, No, we have never done this before.
And, you're the fucking idiot that acquired the property near the trail head. I am sure the mountain/hill is older than your title to the property.
The group hasn't invited me to a run on that trail since. That doesn't mean that I haven't spearheaded a half dozens runs there, myself.
NFL loving douche canoes ruin everything.
@CFetters_Nacho_Lover and other less able poasters HATE you right now.
But I’m giving up the points and taking the Bear in this one