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Field of Schemes article on Columbus arena deal

Link to Field of Schemes article on Columbus Blue Jackets arena deal. From March 31, 2014. This talks about this year's attendance, tv ratings, and casino revenue.

http://www.fieldofschemes.com/2014/03/31/7077/columbus-sports-fans-celebrate-bailed-out-hockey-teams-success-with-citywide-apathy

"It’s the two-and-a-halfth year anniversary, more or less, of the bailout plan for the Columbus Blue Jackets that has left county taxpayers covering annual losses on the team’s arena, enabling the team to stop losing money. And that’s apparently enough of an excuse for the Columbus Dispatch to check out how excited hockey fans are at having a money-making franchise to root for, and one that is finally poised to actually make the playoffs to boot:

The Blue Jackets are in fourth place in the eight-team Metropolitan Division, but they are 29th in a 30-team league in attendance, drawing 14,347 per game to Nationwide Arena, which has been filled to its 18,144-seat capacity only four times in 36 games this season.

Okay, not so hot. But things are at least improving slowly on the attendance front, right?

Although the Blue Jackets have seen a 23 percent bump in season-ticket sales over the past year — from fewer than 7,000 season-ticket equivalents early last season to 8,600 as of this week — attendance actually has dipped from last season’s 14,564 average.

Hmm. Maybe fans are starting slowly, getting their feet wet by watching more on TV?

Further, according to a recent report in Sports Business Journal, the Blue Jackets rank 29th in the NHL in TV viewership. According to sources, the Jackets attract an average of 6,000 households per broadcast on Fox Sports Ohio, down from 9,000 last season.

Okay, but once the team capitalizes on its newfound flushness and offers cheaper tickets, things will improve, right?

The Blue Jackets don’t appear overly concerned, either. Early this season, there were some thin crowds: eight games with fewer than 12,000 fans, including two with fewer than 10,000. Still, they’re raising season-ticket prices in almost every section of the building for next season.

Sigh.

The only silver lining is that sports attendance usually lags behind on-field (or on-ice) success by a year, since fans only wake up and decide to start buying tickets after they’ve seen a successful playoff run. Still, if the main thing Columbus bought with its bailout money is civic pride in its hockey team, residents aren’t exactly busting out with it.

But, hey, sunk costs and all, and at least local taxpayers can sit back and rest assured that they won’t have to spend anything more on the Blue Jackets from here on

The practical impact of low gambling and the resulting state tax revenue shortfall to Columbus and Franklin County residents is that a quarter of the $10.3 million received by Columbus that is dedicated to the arena lease is just $2.6 million — not enough money to cover the $3.3 million required to cover the bond payment schedule for 2013… According to [Columbus Coalition for Responsive Government] projections, if the current 23% shortfall happens in every year of the lease, the total added costs will be $97 million and a bond payment schedule that extends an additional 7 years – to 2046. The only thing that can prevent such a shortfall: we need more gamblers willing to belly up to the poker table and bet their retirement on a three-of-a-kind.

Yep, this is working out just great. Happy baseball season, everybody!"

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