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Tom

Mandalay:
From the MOU which we are(have) voted on:

http://www.wilmingtonnc.gov/Portals/0/documents/City%20Manager/Baseball/...

pg 4-5:

"Except as provided in Section 4(e) below, during the Term (as defined below) the
Operator shall receive all revenues from the management, operation, and use of the Ballpark including, but not limited to, revenues generated by:
(1) ticket sales for events held by the Operator;
(2) the sale of “club seats” and “box seats,” seat licenses to home games, private club
memberships, and suites;
(3) the sale of food, beverages, and merchandise;
(4) the sale of pouring rights;
(5) the sale of broadcasting rights for home games played and for other events at the Ballpark;
(6) the sale of naming rights for the Ballpark (subject to Section 6 below) ; and
(7) the sale of advertising, signage, and sponsorships.

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Naming right are 100% Mandalay's UNLESS they go over a certain amount
pg 6:
"the Operator shall share with the City fifty percent (50%) of the annual net revenue from naming rights for the Ballpark to the extent they exceed three hundred and twenty-five thousand dollars ($325,000)."
So if the naming rights go for $325,001 the city gets 50 cents. How much can we expect?
Naming rights for comparable ballparks is NSS Chap 8 pg 99

http://www.wilmingtonnc.gov/Portals/0/documents/City%20Manager/Baseball/...

"Overall, the average comparable ballpark naming rights agreement was for an average of 13 years with an annual value of $252,857.    Several of the most recent naming rights deals at comparable venues have an annual value of $300,000."  
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A big fat ZERO - ZILCH - NADA
the deal is written so that not only does Mandalay keep ANY profits inside the park they also won't GIVE the city anything because the deal is structured so they don't have to. !!!!!  

This is, far and away the WORST deal in MiLB ball field development

Vog

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