FargoDome Profit

[RedRiver]

The FargoDome just announced a huge profit for the first four months of 2005. I believe that it was around $380,000, well above the projections of $165,000.

[Bison_Dan]

Edited by Admin.

There is a Smack board. Please use it.

[imported_admin]

I deleted two smacky posts and the inevitable scolding ones that came after it (three so far). *Heck, I should have deleted every post in the thread right up to the first one... oh well.

[MinotBison]

Tony:

If I re-phrased my question as follows, would it be okay?

Does anyone have any information on how much money the Alerus Center made or lost in 2004?

[tony]

Well, I still think you are just asking as a form of indirect smack. Anyway, the Alerus lost about $200k for 2004 and $150k in the first quarter of 2005, a bunch of the first quarter loss was because two major events didn't come through, something that could easily happen to the FargoDome in the future.

[MinotBison]

Thanks for the info.

I honestly wasn't trying to put out any smack, but nonetheless will not post on this topic any further.

[JBB]

What happens to that profit?

[Bisonguy]

What happens to that profit?


It goes into a fund for captial improvements or to offset a possible budget shortfall in future years.

[Gamehunter]

Well, I still think you are just asking as a form of indirect smack. Anyway, the Alerus lost about $200k for 2004 and $150k in the first quarter of 2005, a bunch of the first quarter loss was because two major events didn't come through, something that could easily happen to the FargoDome in the future.


So when something like that happens, who foots the bill to make ends meet? Taxpayers?

[JBB]

Yes. The taxpayers own the building.

[tony]

Since the FargoDome has never lost any money, they might have a cash reserve that would cover losses. If that gets exhausted, I'm not sure where it would come from. I think the Alerus Center covers its losses from GF's economic development fund.

On the flip side, NDSU's contract with the FargoDome originally said that if it made over a certain amount of money, NDSU would get 30% of the profits. Back in 2002, the FargoDome supposedly owed NDSU $450,000 (the FargoDome disputed this figure and I don't know how it was resolved). Regardless, we just have to hope that the Dome can keep making money - this year should be a real challenge. In addition, I think Sioux Falls is going to build a competing facility which may lure events away from both the Alerus and the FargoDome.

[Bison_Dan]

Since the FargoDome has never lost any money, they might have a cash reserve that would cover losses. If that gets exhausted, I'm not sure where it would come from. I think the Alerus Center covers its losses from GF's economic development fund.



I think that the deficits are covered by the additional money that the sales tax brings in. They also have a lodging tax that they count as revenue to help cover the deficit.

[JBB]

I hate to point out the obvious, but its all taxpayer money. Its interesting understanding how the budgets are constructed.

[Bisonguy]

......... Regardless, we just have to hope that the Dome can keep making money - this year should be a real challenge. ...........

Just heard this week on one of the TV newcasts that the Fargodome was over $150k ahead of budget this year. It was during one of the features announcing the Gate City Bank Theater at the Fargodome shows this season, which includes Cats (which my wife will drag me to) and the ever-popular David Copperfield.

[IowaBison]

Just heard this week on one of the TV newcasts that the Fargodome was over $150k ahead of budget this year. It was during one of the features announcing the Gate City Bank Theater at the Fargodome shows this season, which includes Cats (which my wife will drag me to) and the ever-popular David Copperfield.



that will be measuring stick for all 2005 Bison games:

Was it better than Cats?

(you'd have to be a fan of mid-80s SNL to get that one)

[MinotBison]

I wonder if the Stones will make a repeat appearance? ???

[JBB]

I dont know but I have my tickets for the Excell. *If they do pick up a Fargo Date, and I would be surprised. I could do the Minneapolis/Fargo leg of their tour, again! * 8)

[MinotBison]

Their schedule shows them playing:


Moncton, NB-9/3 (Saturday)

St. Paul, 9/6 (Tuesday)

Milwaukee 9/8 (Thursday)

Would be nice of them to stop by, but am guessing that IF it happens, it might be on a later leg of the tour.

[JBB]

Im sure they picked up a couple of million last time. *But hey, they always pick up a couple of million. *thats what it costs to get a great rock band on stage. *They were good at the Fargo Dome, but i think they were a little hotter at the Target Center. *Of course the Minnesota Governor was there ($1,000 seats). *

It was funny, all day downtown Minneapolis on the news ticker board was the time and the msg that the Rolling Stones had not yet arrived at the Governors mansion. *Apparently Jesse wanted them to come over because he had been hired as their body guard in the 70s. *they never did come over. *My guess: *his seats were free.

[MinotBison]

I wonder if the current Minnesota governor would go see them. I suspect not. :o :o :o

[met1990]

MinotBison, I don't think the current Minnesota Governor was ever a bodyguard for the Stones. Didn't Jesse do that?

I'm a huge Stones fan but couldn't afford to see their concert at the Dome. Even though I'm out of college now and have a job, I imagine I probably won't be able to afford them this time around either, regardless of where they are playing. How much are they charging anyway?

As an aside to that, has anyone heard any info on the Fargodome possibly getting rid of Ticketmaster? What other options are out there?

[JBB]

The way I understand it: *a national group of arenas would create a syndicate that would distribute tickets much like ticketmaster but for their own benefit. *This would be managed by a third party responsible for ticket distribution.

Tickets at the Excel were $75 up to who knows probably $1,000 or more. *The place was half sold out before tickets were even released. *A pre sale by the Rolling Stones got you your choice of seats for a $100 fee. *I think I paid $90 for the Fargo Dome ticket.

Its worth the money. The band is good.

[MinotBison]

Paul McCartney is also going to be in the area towards the end of October. I'm sure his ticket prices are going to be right up there as well.

[IowaBison]

MinotBison, I don't think the current Minnesota Governor was ever a bodyguard for the Stones. Didn't Jesse do that?

I'm a huge Stones fan but couldn't afford to see their concert at the Dome. Even though I'm out of college now and have a job, I imagine I probably won't be able to afford them this time around either, regardless of where they are playing. How much are they charging anyway?

As an aside to that, has anyone heard any info on the Fargodome possibly getting rid of Ticketmaster? What other options are out there?

the folks who manage the dome also have their own ticket management system.

there would still be a fee involved but it would be a fraction of that currently going to ticketmaster.

[sambini]

Nice job to rob sobolik and staff.

[Sioux_Yeah_Yeah]

Just for future notice JBB it's the "Xcel Center"

[Hammerhead]

We have tickets to see McCartney at the Rose Garden late this fall. Two nosebleed seats cost $127 with the ticketmaster fees.


Paul McCartney is also going to be in the area towards the end of October. *I'm sure his ticket prices are going to be right up there as well.

[sambini]

Will we ever see U2 at the Fargodome? They said they were going after more family shows in 2006?

[Bisonguy]

Will we ever see U2 at the Fargodome? They said they were going after more family shows * *in 2006?

Doubt it. The last report about the Fargodome scheduling acts stated that the bigger name acts were concentrating more on larger venues.

[sambini]

Thanks Bisonguy.