Monday, December 11, 2006

Real Salt Lake release their financials

Real Salt Lake released financial documents today in a hope of finally proving that they deserve public money to support their new stadium in Sandy.

The public money adds up to $45 million of the total $110 million cost.

Some interesting details are:

- Ownership of the team will be split between Dave Checketts' Sports Capital Partners and Whitehall, an arm of global financier Goldman Sachs, with SCP controlling the team's daily operations

- In 2008, Real expects 15,400 fans per game paying $22.78 a ticket

- In 2013, Real expects 19,360 fans per game paying $30.72 a ticket

- Stadium revenue should reach $28 million by 2013

- Real will not make a profit till 2010, but should make $5.48 million in 2013

Perhaps the most interesting thing about this report is not the above information, but that it consists mainly of spreadsheets without any sort of summary documents. This means it will take time for people to go through it all and come to a conclusion. It will also open the door to different possible takes at the financial state of the club.

Add this to the Adu announcement and one must wonder if Real's plan is to bury this story.

Please don't take that to mean that I think the club is in a bad financial state because I really don't know. I think that ticket sales mentioned are a little high, but I don't think it is an insane guess.

I'll I'm trying to say is that Real didn't want to release this information (as is the case with most private businesses), but now that they have, they want to change the subject. What better way to do that then the future of American soccer showing up at your doorstep? What story grabs you more "Wonder Boy Coming to Town" or "Spreadsheet Analysis Enters Fifth Day"?

Labels: ,


Post a Comment

<< Home