Only 85 days are left until the umpire says, “Play ball.”
Until then, the Richmond Flying Squirrels are scurrying to complete $2 million in renovations and sell remaining sponsorships.
“We have an awful lot of work to do,” said Todd Parnell, chief operations officer.
Parnell, who goes by “Parney,” and Chief Executive Manager Chuck Domino spoke at Tuesday’s meeting of the Greater Richmond Association for Commercial Real Estate about the economic impact of baseball.
Domino said the baseball team would generate between $30 million and $40 million in annual economic impact. That figure is based on multiplying by five the money generated by the organization, including team salaries, operations spending and money spent in the community by the team, visiting teams, umpires, etc.
“It’s hard to measure the impact of Minor League Baseball,” said Domino. “They give a formula and it spouts out a number. You can believe it or not believe it.”
Domino said the team is spending more on renovations to the Diamond than the $1.5 million originally planned.
“We are putting in closer to $2 million,” he said. “Every day we uncover something else we want to make better.”
He added that about three-quarters of the budget was being spent on local goods and services. Some of the upgrades include renovated locker rooms, an air conditioned batting tunnel and new seats with cup holders.
Although the Squirrels are making significant renovations to the Diamond, Domino made it clear that the team hopes to have a new facility in the next three to five years.
“We want a new stadium,” said Domino, without naming a specific location.
“Financing is the main thing,” he said. Wherever “financing is best going to work, the team will stand shoulder to shoulder with local jurisdictions and pay our fair share.”
Domino said the team has sold more than 600 season tickets at $568 apiece. Domino also said he’s sold 12 of the 15 box suites.
Two of the remaining suites will be sold on a game-by-game basis, and the other suite is reserved for the RMA.
Parnell, the team COO, talked more about the effect that the team wants to have on the community.
“There is an economic impact, and then there is the community impact,” Parnell said. “Our goal is not to be here only from April to August but to be an active member of the community all year round.”
The team collected 600 coats during a drive for Coats for Kids and collected toys for Toys for Tots. In December, the team donated 10 percent of each day’s merchandise sales to a different charity; Parnell said the checks totaled $15,000.
“Our first year is setting a tone that we are making an impact and are here for the long haul,” Parnell said.
Al Harris is a BizSense reporter. Please send news tips to Al@richmondbizsense.com.
Gee, you haven’t even played your first game yet and you are already spouting off about how great you are for the local economy and that you want a new stadium. The Diamond is more than adequate as a squirrels nest, you will have to leave town to get a new stadium. That is of course, unless you pay for it all yourself, which should be the case.
They are not even started their first season and already demanding a new stadium
If they definitely need a new stadium, they definitely need to find some private investors who are willing to finance it. It is a disgrace that baseball players ‘earn what the free market will bear’, but we taxpayers have to fund the stadium as if it is a pity party.
What a shocker? …not really.
I spent time working on 3D animation and rendering proposals/plans with the a group of investors ready to shell out big bucks to bring major updates to the existing central city stadium site – not just a $2,000,000 face lift. However, after getting shunned by city officials with even a courtesy meeting, they pulled out of the project. Quite a shame since Opening Day Partners has a track record of 13+ complete successes around the country for such ventures. As a tax paying Richmond City home owner, I was discussed to hear that our elected officials didn’t even give the courtesy to a cash flush group to hear them out. So please forgive me, if this pre-first-game report falls on def ears. Not only did the city miss a major opportunity with Opening Day Partners, but the failed to do their civic duty to honor free enterprise and consideration to the best candidate for the job. Unlike all the other cities ODP courted – Richmond was the only one that did not roll out the red carpet for discussions. Go figure, our squirrel now lies injured on the side of the road crying out for assistance. Typical Richmond bureaucracy and old school mishap.
**Opinions & commentary above is of my own, and does not reflect OPD’s response or position on the situation. I do not work for them, and have not benefited from any relationship with them; but would have stood to earn financial compensation from OPD had they chosen us to complete their visualization 3D. Please note my disappointment is not in earning their business, but in the City of Richmond for ignoring their many requests to meet and discuss their proposed plans and investment proposal.
nevermind the stadium demand, did you catch that one of the box suites is reserved for the RMA? What the heck is this?
Chris
Richmond also let the Braves go in the first place so I really don’t see the suprise either. I think you could find plenty of other projects to be proud of but this one is way too soon. The Squirrels are assuming they will even have a fan base. You never negotiate without having proven worth of your cause or expect people to either ignore you if not laugh
Let them pay for it. This is 2010, not 1910, baseball is dead whether America wants to believe it or not. I wouldn’t donate $5 to fund that stadium and I love Richmond, live in the city and have lived here my whole life. How many sports teams have been here and gone in just the last ten years, 3 arena football teams, 3 hockey teams, 1 basketball team, 1 baseball team? The most successful events in town involve music, art and food, not sports, except NASCAR. Put the tax dollars towards the endless potholes, deteriorating parks and vacant City owned properties that have weeds growing up around them.
You are correct Brett… Richmond is not a sports town. They like their festivals though…
let me guess,you all have visions of sugarplums dancing in your heads,face facts the diamond and coliseum are dumps and have to eventually meet da wrecking ball…….lets get outta the stone ages folks……
Im going to be pissed if the flying squirrels get a new stadium because if we are going to get a new stadium than we never had to get rid of the braves.