The City Council approved a one-year purchase option agreement for the Magic, despite complaints from one commissioner who called it a "sweetheart deal" for the team. including naming rights, it's a buyer's market for the brands that are willing to pay to intertwine with an NBA, NFL or even college team. up of city staffers and Magic employees. The company is led by the family of Magic owner Rich DeVos but would ultimately include other investors. It helps us cover some of our operations losses and debt as opposed to Orlando, Fla. - The NBA lockout might threaten the Orlando Magic's next season in Amway The concession contract has always been competitive. Those sponsors are Amway, AirTran, Disney, Florida Hospital, Harris and Pepsi. money for its concessionaire. City officials have veto power over any advertising. Workers have finished driving concrete support pilings into the ground at the 9-acre site.

-Former Name(s): None. The final tally on the city's most expensive public building still isn't finished, but officials February 24, 2011Copyright 2011 MediaVentures. September 22, 2011Copyright 2011 MediaVentures. "No one ever said, 'If we don't raise these fees, we are going to pay it. Taxpayers routinely subsidized the city's old arena, too. The team's lease at RDV Sportsplex in Maitland expires in 2014, and the 145 Magic employees who work there would move downtown. The sidewalk will stay open, but the stretch of road will be closed to traffic for a week leading up to the Feb. 26 game. At the same time, an independent appraiser will determine a fair market price for the city to sell the property to the developer. "We're not trying to make money on the Amway Center. The Magic plan to offer screen time to seven key sponsors that team execs are calling "champions of the community." food and drink, concierge service and an autographed player jersey. Orlando Mayor Buddy Dyer addressed the public on an opening day. HIGH MARKS GIVEN ON AMWAY ARENA CONSTRUCTION September 15, 2011Copyright 2011 MediaVentures. So far 54 out of 60 premium suites and 65 of 68 loge boxes are under contract, said team Chief Under the terms of the agreement approved by the City Council, the Predators will earn more from concessions and advertising, pay less to use a practice field at the Citrus Bowl and receive 300 parking spaces per game, an increase of 200 spaces.

new arena, but the approval comes with conditions. The mid-rise building could also include a hotel and conference center, along with dining, retail and entertainment space. Over the next year, the company would pay for the feasibility study - estimated to cost $2 million or more to come up with a development plan.

Even so, a public parking garage connected to the arena via a raised walkway will likely have most of its spaces set aside for players and high-priced ticket holders. by Chris Knape | The Grand Rapids Press At the same time, if a game is canceled, the city doesn't have the expense of paying ushers, ticket-takers, security guards and others. The reason for the subsidy goes back to a decision the City Council made before the arena opened. arena under its agreement with the city. The agreement is the first step in what may eventually be a $100 million investment to build a sports-and-entertainment complex and corporate headquarters. Hotel taxes were pledged to make the debt payments over 30 years, but the dismal state of tourism has caused hotel-tax collections to plummet 15.5 percent in 2009 and an additional 5 percent so far this fiscal year. "I had maybe a month, month and a half and I would have had to close up shop." The Kia was covered entirely during a Bon Jovi concert in May. No matter how many suites are actually sold the Magic will owe the city of Orlando, owner of Hunt Construction Group, the prime contractor on the job, also has built Lucas Oil Stadium, home of football's Indianapolis Colts, and is finishing the New York Mets' new baseball park. October 15, 2009Copyright 2009 MediaVentures. Under an agreement with the city, the Magic keep the revenue from the sale of naming rights, luxury suites and advertising in lieu of an annual payment to the city of $1.75 million, an amount that increases 3 percent a year. December 11, 2007. including the St. Pete Times Forum in Tampa, Dodger Stadium in Los Angeles and Soldier Field in Leonhardt, a senior partner at the powerful Gray Robinson firm who has cultivated deep political Venues director Allen Johnson said the arrangement saves the city the cost of hiring its own sales staff. And Fitch's warning undermines confidence in the city's ability to patch together a financing "Plan B" for the two other venues approved at the same time as the arena. Harris will get a key spot in the Magic's marketing and Chicago. The fee - ranging from 25 cents for the cheapest Magic tickets to $2.50 for tickets costing more than $100 - helps pay for building maintenance. For nearly two decades the Orlando Magic played at Amway Arena. But financial records show that in addition to rent, concessions and other income directly tied to the building, the venue also received a taxpayer subsidy of $980,053. year, but just how much profit is up for debate, records show. CONCESSIONAIRES VIE FOR ORLANDO VENUE City officials point out that the rent for ticketed events such as concerts hasn't changed since 2001, and the rate for community events has been the same since 1991. But the project would be modeled after entertainment complexes that have sprung up around arenas in Charlotte, N.C., Memphis, Tenn., Nashville, Tenn., Columbus, Ohio, and, on a larger scale, Los Angeles. Mayor Buddy Dyer's administration agreed to impose a smaller increase for graduations: $7,500 plus expenses per day. amway center seating tickets charts capacity map gamestub stub ice stars crowns casting be used in the 18 displays incorporated into the centerhung scoreboard. As it turns out, that money was needed to pay the mortgage on the Amway Center's new parking garage. The company will also sponsor a new Fan Zone on the west side of the new arena. Jacksonville Municipal Stadium; and Delaware North Companies Sportservice, with clients He would not say what types of problems the fence is designed to prevent or why metal-detector screening couldn't take place close to the arena. December 3, 2009Copyright 2009 MediaVentures.

But the Amway Center's expenses are $1.3 million more than the old arena. The Orlando Magic have signed two more corporate sponsors for the new Amway Center, a multi-year renewal agreement with Anheuser-Busch Cos. and a five-year deal valued at more than $1 million annually with insurance provider Geico, according to the Orlando Sentinel. Property values are expected to fall 9 percent next year, an additional 4 percent in 2012, and remain flat for the following two years. That's on target with some other venues, such as the arenas in Memphis, Charlotte and St. Louis. $150,000 to $295,000 a year, and on the loge boxes, which cost $40,000 to $60,000 a year. Other sponsors may be beverage companies such as Pepsi or Budweiser, whose products would be sold during events. That hasn't happened before, but the some promoters have made special requests about the Kia vehicle on display inside the arena. That would have been a bigger problem a few blocks away in the old arena. February 25, 2010Copyright 2009 MediaVentures. The approval gives the team a year to address a slew of unanswered questions, including what type of retail and dining is feasible on the site. When it comes to revenue, the Magic already have control of six exclusive advertising categories, meaning other tenants such as the Orlando Predators can't sell ads to those sponsors' competitors. The firm is a joint venture led by Levy Restaurants. But the newspaper said it also differs from the old contract in a way that provides an important safety net for the city. Unless tourism picks up, the city could burn through the reserve account by late 2012, causing a default, Fitch warns. Parking rates at the Magic's new Amway Center arena in Orlando, Fla., will climb to $20 from the current $10 rate. Team President Bob Vander Weide is DeVos' son-in-law. Operating Officer Alex Martins. luxury suites took the place of eight to ten rows of lower-bowl seats. For ticketed events such as concerts, city officials start with a base rent that could include a percentage of receipts, but typically negotiate each deal separately with a promoter. Shop owners were given an option of being included within the cordoned-off section around the arena though only after they complained when they learned they were getting fenced off. The bonds are in trouble because tourism is weak. October 27, 2011Copyright 2011 MediaVentures.

"It's a bridge for us. centerhung scoreboard are 42 feet by 41 feet by 41 feet, making it the largest of any in NBA A spokeswoman for the Mayor says the Amway Center is three times larger than the old one, making it cost more to operate. Sentinel Staff Writers additional equity in the team," Martins said. 1998-1999 - Attendance for 25 games due to NBA lockout. The reports included comments from community groups that they may not be able to afford rent at the new arena and might have to look elsewhere. Just before the vote, city staffers introduced an eleventh-hour compromise meant to address those concerns. There will be 10 other specialty suites. "That's why we kept the contract the way it is: so we're covered.". ORLANDO ARENA DEBT COVERED IN EVENT OF LOCKOUT seats simply won't exist anymore because they've been displaced by premium seating. That's one reason it has a different look on each side.

February 4, 2010Copyright 2010 MediaVentures. It has a larger seating capacity than the Amway Arena with 18,500 seats. "My first reaction was I thought the city should be making a lot more money," Orlando Commissioner Phil Diamond, told the television station. Commissioners agreed, but balked at raising expenses for family shows, fund-raisers for nonprofit organizations and high school graduations. NBA spokesman Mike Bass called the security fence "one component of a large-scale safety and security plan" that includes ticket holders going through metal detectors as they arrive. The city owns the arena, but construction was controlled by the Magic. Construction on the first community gym at Curry Ford Community Park will begin in April. Since then, the city has twice had to dip into reserves set up for the bonds to make scheduled twice-annual payments; withdrawals total $231,419. The concessionaire would pay expenses and pay the city a percentage of sales, On the opposite side, the one facing the Parramore neighborhood, there's a public plaza and the team's indoor practice court, with the height dropping down to about four stories. That contribution came from Orlando's general budget, the fund that pays for police, parks and most services. City officials have not yet solicited bids. about the cookies we use, see our. Architects said they incorporated one prominent element because it's common in Florida architecture: balconies. A narrow spire will reach 188 feet above street level and be lit by spotlights. include four primary high definition LED video displays with 840 lines of resolution, approximately Magic officials point out that they've reduced the cost of the two lowest-cost ticket tiers; there January 14, 2010Copyright 2010 MediaVentures. Most fans will have to park in other nearby garage and lots or arrive via a nearby commuter-rail station. December 17, 2009Copyright 2009 MediaVentures. FACTS & FIGURES The payment is capped at $500,000 a year. -Capacity: 18,500 Amway "experiences" -- like the mobile units promoting its Nutrilite and Artistry brands that have followed Amway-sponsored events around the country -- will be part of the arena, allowing visitors to "interact with our brands," Matthews said. City officials say their survey of parking rates show that theirs was too low and the higher rate is more in keeping with the marketplace. tower will be clad in stainless-steel mesh and illuminated by about 200 LEDs that will change color based on events taking place inside. Levy

Orlando, Fla. - The Orlando Magic may invest as much as $100 million in a sports and And switching to a commission contract allows the city to avoid paying food-service expenses, and to assume less risk, Orlando Venues Director Allen Johnson said. An event with a large female audience, for example, could use the boards to promote Artistry cosmetics. "It gives both parties the ability to have one sales force out in the market rather than competing sales forces," Martins said. MAGIC LOOKS AT ARENA LEASE CHANGES Former San Antonio Spurs center David Robinson's investment The financial picture is far different than in 2007, when the venues plan was approved. full-color light emitting diode (LED) displays for the arena. The Magic are responsible for any unexpected construction costs, so taxpayers aren't on the hook for the extra expenses. City officials are more optimistic. On the operations side, the parties are expected to cement the practice of allowing team employees to handle many functions at the arena. The deal continues the re-emergence of the Amway brand in North America and the close relationship between the company and the team. Orlando, Fla. - Orlando's new Amway Center arena could cost as much as $10 million more STATE MAY LIMIT POTENTIAL OF MAGIC'S VIDEO SCREEN The city keeps the revenue for those ads and pays the Magic a sales commission. Magic employees also sell the advertising on those video screens during the team's home games, and for some time have been offering advertisers screen time during other events, too. Promoters typically pay a negotiated maximum amount for many concerts. venues. A Magic representative confirmed the building came in $7 million over its $480 million budget, but the financing agreement required the team to pay the overrun. And at 800,000 square feet, the new building will dwarf the Amway Arena. won't be allowed to lobby commissioners. Magic execs stressed that the project is bringing much-needed construction jobs in a tough economy. Records show that Lynum, The new arena is owned by the city, and Magic representatives said the screen will split time equally between Magic programming and promoting concerts and other events at city venues. "Here you were trying to create hospitality experience for corporations and groups and fans, and you're seating them in the worst seats in the building," Martins told the newspaper. "By the fall of 2010 the economy will have rebounded into a better place.". April 29, 2010Copyright 2010 MediaVentures. NEW MAGIC ARENA SHOWING FEWER PROFITS When Brad Paisley played at the arena in February, Chevrolet a tour sponsor displayed cars outside. Magic President Alex Martins told the Sentinel it's impossible to say with any certainty exactly what will be built until a year-long feasibility study is conducted.

dining options and bars than the Magic's current home court - and will presumably earn more -Tenants: Orlando Magic (NBA) Martins said the money will be used to help the club offset huge operating losses.

"Anything above zero is good," chief financial officer Rebecca Sutton said. But all three will also feature advertising for companies with sponsorship deals with the team. Amway decided to continue its partnership with the team and purchased the naming rights to the new arena in August 2009 for $40 million over 10 years. in Orlando. The Amway Center has three seating levels, the lower, club/suite and upper level. Other possible contenders are: Ovations, which serves the Ocean Center in Daytona Beach and "This could be a $100 million development when all is said and done," Martins said, adding that it could bring 300 permanent jobs. pixel technology on all of the centerhung digital displays. City officials expect to sell an additional $75.5 million in bonds shortly to enable the start of construction of the first phase of the performing-arts center. Putting Amway Brand on Orlando Magic's New Arena Goes Beyond Naming Rights than its original $480 million price tag, the Orlando Sentinel reported. Orlando, Fla. - February's NBA All-Star Game may pump up to $100 million into the local So taxpayer money was used to subsidize the arena's bottom line. That will still be the practice at the new building, but the minimum base rent will increase from $5,000 to $25,000. Fitch also gave a slight downgrade to those bonds, from "A+" to "A," though the rating remains strong. The centerhung scoreboard alone will Vicente Fernndez, a two-time Grammy winner, performed the first ticketed concert in the stadium on 8th October 2010. Most of the time, Martins said, the video screen would promote events, not commercial advertising. Discussions primarily focus on two areas: operations and revenue. As for college sporting events, only the men's Final Four basketball event would be too big to fit in the new arena, although the Orlando facility could host all other NCAA tournaments, officials said. connections over the years. pays the concessionaire a flat fee of $250,000 a year plus a small percentage of revenues. $25 and $50. Under the new deal, the city is guaranteed a payment from the Magic - on top of rent the team pays - even in situations when the Magic don't play or attendance plummets. and Orlando a largely glowing grade for the construction of the Amway Center arena, the Orlando Sentinel reported. The split is the result of an agreement between the city and the Magic that was approved when the venues were being debated in 2007. The project would be anchored by the Magic's own corporate headquarters. half-dozen years - and will lose at least another $15 million this season - and won't begin to break even until the club moves into its new arena in 2010. So far, only three are confirmed: Amway, the company co-founded by team owner Rich DeVos; Harris Corp. and AirTran Airways. At the same time, the parties will try to clarify their agreement to make sure the Magic's exclusive advertising rights aren't so restrictive they hobble other tenants and cause touring shows to bypass Orlando. Orlando, Fla. - WFTV in Orlando says the Magic's new Amway Center arena is generating less economy, but the Orlando Sentinel said shops and restaurants across the street from the Amway Center won't be in the midst of the action. Martins said the one-event suites are ideal for businesses that want to reward employees by leasing a suite on a particular game night - or for parents who want to treat a child to a birthday party during something like Disney on Ice. Mayor Buddy Dyer said he would support nonstop video clips but thought the new rules were a good compromise. time the new arena opens in the fall of 2010. The Magic have played only a single season in the $480 million arena, which opened just nine months ago. To find out more "It's not like last time, where if they didn't play they didn't pay. The city now charges $5,000 plus expenses such as utilities, ushers and security, and had planned to increase the rent to $15,000 plus expenses at the new Amway Center. The company's desire to make Orlando a hub showcasing its brand will not detract from the amount of business it brings to Grand Rapids, she said. The Orlando Sentinel said the changes mean additional revenue for the team estimated at $106,000 per nine-game season, for the next four years. will be 650 $5 seats and 1,850 $15 seats. emblem for downtown Orlando, Magic chief operating officer Alex Martins said. The city covers all expenses and building has been designed to ensure no seats infringe on that view. July 21, 2011Copyright 2011 MediaVentures. MAGIC GETS APPROVAL TO BUY PARKING GARAGE The city may have a financial stake in the video screen. But it could also displace 11 small businesses that rent retail space in the city garage that's there now. Chatmon said he understands the business owners' frustrations. Daktronics will design and manufacture more than 50 rights to be the concessionaire for the Orlando Magic's new arena that opens next year. "If we hit a default with that tax revenue, long-term that will make it more expensive to issue bonds," said Jim Gilkeson, a University of Central Florida finance professor. Those community events saw smaller increases. The insurer is also title sponsor of the halftime countdown clock, and it will receive exposure on two outdoor signs, the arena marquee and a digital billboard on the building's exterior facing Interstate 4. A final deal would require City Council approval.

That means slow to no They predict hotel-tax collections will begin to grow this year - buoyed in part by the much-anticipated opening of the Wizarding World of Harry Potter at Universal Studios in June. along with an even taller spire - will dominate the arena's main entryway and serve as an iconic Prices for those spaces range from $1,500 to $8,000 per event, the newspaper reported. There will be three bowl levels instead of two. at least three years.