Author Topic: Potomac Nationals New Stadium Watch  (Read 12700 times)

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Offline Natsinpwc

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Re: Potomac Nationals New Stadium Watch
« Reply #125: June 27, 2017, 06:50:19 PM »
according to financial docs, the P-Nats have made about $45,000 in total profit over the last five years.  This is why they can't get private funding for a stadium.

https://sheriffofnottinghampwc.blogspot.com/2017/06/shocking-financial-statements-show-p.html
I'm confused. They said county employees were not allowed to make copies.  But then he obtained copies? For whatever reason the income was way up the last two years.  What happened to cause it to go up?

What would be more interesting would be projected revenues and expenses with the new stadium.  I assume that tickets will cost more and that they are counting on selling more tickets.  Also, aren't they planing on having a restaurant/club that will also be in use on non baseball days? 

I have lived in Prince William County for 30 years.  We have almost always had a poor tax base and poor leadership.  That probably won;t change

Offline HalfSmokes

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Re: Potomac Nationals New Stadium Watch
« Reply #126: June 27, 2017, 06:51:22 PM »
Good luck charging premium prices for single a baseball 45 minutes away from a major league team

Offline dcpatti

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Re: Potomac Nationals New Stadium Watch
« Reply #127: June 27, 2017, 07:15:34 PM »
according to financial docs, the P-Nats have made about $45,000 in total profit over the last five years.  This is why they can't get private funding for a stadium.

https://sheriffofnottinghampwc.blogspot.com/2017/06/shocking-financial-statements-show-p.html

There are so many ways to make profit come off of the books or shift it around and save it for later in hopes that your tax rate goes down. I'd love to hear an accountant's take on whatever is in these documents.

Offline Natsinpwc

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Re: Potomac Nationals New Stadium Watch
« Reply #128: June 27, 2017, 07:21:30 PM »
There are so many ways to make profit come off of the books or shift it around and save it for later in hopes that your tax rate goes down. I'd love to hear an accountant's take on whatever is in these documents.
As an accountant/auditor I would say it doesn't mean much if they are unaudited.

The Lerners can pitch in a couple million each year to make the payments.  It benefits them to have a team nearby.


Offline varoadking

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Re: Potomac Nationals New Stadium Watch
« Reply #129: June 27, 2017, 07:42:20 PM »
As an accountant/auditor I would say it doesn't mean much if they are unaudited.

The Lerners can pitch in a couple million each year to make the payments.  It benefits them to have a team nearby.

Only if they can defer the payments...

Offline Natsinpwc

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Re: Potomac Nationals New Stadium Watch
« Reply #130: June 27, 2017, 07:47:51 PM »
Only if they can defer the payments...
Scherzer can pay it for them.

Offline tomterp

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Re: Potomac Nationals New Stadium Watch
« Reply #131: June 27, 2017, 09:25:32 PM »
As an accountant/auditor I would say it doesn't mean much if they are unaudited.



Yep, what was presented are far from being "audited financial statements".  We don't even have any way of knowing if they were excerpts from audited financials.

Let's assume for a minute they are however, note the revenue isn't enough without any expense to cover the debt payments. 

Some observations:

1- the current expenses will be restructured, they are paying rent now and that payment would presumably go away
2- They would need to dramatically increase revenue to cover debt payments of the type described, but we don't know how much without the statements.

I would expect them to be able to raise prices modestly, attendance would increase, concession sales would improve but can't see more than a doubling of revenue and I don't think that would do the job.

Offline dcpatti

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Re: Potomac Nationals New Stadium Watch
« Reply #132: June 27, 2017, 10:03:36 PM »
What are their arrangements with the Nats? Do they get paid when players rehab? I know the players tend to go elsewhere due to the general conditions at the Pfitz but with modern facilities, i'd expect that to change. They really pack the place when there's a rehab start. Combined with whatever the Nats pay them (if at all) that should add up to a nice chunk of change. Obviously not millions, but a nice bump.

Offline tomterp

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Re: Potomac Nationals New Stadium Watch
« Reply #133: June 27, 2017, 10:18:53 PM »
What are their arrangements with the Nats? Do they get paid when players rehab? I know the players tend to go elsewhere due to the general conditions at the Pfitz but with modern facilities, i'd expect that to change. They really pack the place when there's a rehab start. Combined with whatever the Nats pay them (if at all) that should add up to a nice chunk of change. Obviously not millions, but a nice bump.

I'm not privy to their arrangements.  But I agree that for sure their revenue would take a jump, though more than double seems quite a reach.  They would also have a venue that they could potentially host other events like concerts.  But that's peanuts as compared to P-Nats.    8)

Offline imref

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Re: Potomac Nationals New Stadium Watch
« Reply #134: June 27, 2017, 11:11:32 PM »
there seems to be so much shadyness around this stadium.  Stewart, a trump-style conservative is backing the stadium while the rest of the Republicans oppose it.  The consultant's report I don't believe has ever been publicly released.  I just don't see how they make enough money, in that location, with traffic being a nightmare, to justify the stadium cost.

Offline tomterp

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Re: Potomac Nationals New Stadium Watch
« Reply #135: June 28, 2017, 08:38:36 AM »
there seems to be so much shadyness around this stadium.  Stewart, a trump-style conservative is backing the stadium while the rest of the Republicans oppose it.  The consultant's report I don't believe has ever been publicly released.  I just don't see how they make enough money, in that location, with traffic being a nightmare, to justify the stadium cost.

If a bank was making a big loan to build a stadium, they would be immersed in the entity's financials, looking at cash flow projections and testing the assumptions on how they get from "here" to "there".

A government entity considering financing is in the same boat - they need to have a reasonable level of assurance that the financing they provide will be repaid.  And I don't know why there wouldn't be transparency around the whole transaction. 

Offline NJ Ave

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Re: Potomac Nationals New Stadium Watch
« Reply #136: June 28, 2017, 08:51:56 AM »
And I don't know why there wouldn't be transparency around the whole transaction. 

I believe you can generally assume that if people are insistent on the opacity of a transaction, the transaction is bogus in some way. That's what was always so fraudulent about no-doc mortgages.

Offline Natsinpwc

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Re: Potomac Nationals New Stadium Watch
« Reply #137: June 28, 2017, 09:39:08 AM »
I believe you can generally assume that if people are insistent on the opacity of a transaction, the transaction is bogus in some way. That's what was always so fraudulent about no-doc mortgages.
Silber has contributed 95K to Stewart's campaigns over the years. Money talks, BS walks.

http://www.fauquier.com/prince_william_times/news/potomac-nationals-support-of-corey-stewart-prompts-opening-day-protest/article_94830eb4-2143-11e7-8800-f32db8277638.html


Offline Natsinpwc

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Re: Potomac Nationals New Stadium Watch
« Reply #138: June 28, 2017, 09:49:30 AM »
The new stadium would be right off of 95 so I could see a boost in attendance from those in Alexandria, Springfield and even Stafford. However those in western Fairfax and Loudon would have a longer commute.
I would assume ticket prices would be a little higher. Currently I believe it is $14 or $16 to sit near the field in the home plate area. So maybe 20-25 for that. Still much cheaper than a Nats game. Will be interesting to see what happens. I wish someone with more secure finances had bought the team.



Offline HalfSmokes

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Re: Potomac Nationals New Stadium Watch
« Reply #139: June 28, 2017, 11:44:32 AM »
If a bank was making a big loan to build a stadium, they would be immersed in the entity's financials, looking at cash flow projections and testing the assumptions on how they get from "here" to "there".

A government entity considering financing is in the same boat - they need to have a reasonable level of assurance that the financing they provide will be repaid.  And I don't know why there wouldn't be transparency around the whole transaction. 

There are tons of marginally qualified consultants willing to sign off on stadium proposals; there's a reason that they all have economists and accountants signing off on deals that get ridiculed by everyone else

Offline Natsinpwc

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Re: Potomac Nationals New Stadium Watch
« Reply #140: June 28, 2017, 12:28:32 PM »
There are tons of marginally qualified consultants willing to sign off on stadium proposals; there's a reason that they all have economists and accountants signing off on deals that get ridiculed by everyone else
Show me the money.

Offline nats2playoffs

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Re: Potomac Nationals New Stadium Watch
« Reply #141: June 28, 2017, 01:29:43 PM »
The new stadium would be right off of 95 so I could see a boost in attendance from those in Alexandria, Springfield and even Stafford. However those in western Fairfax and Loudon would have a longer commute.
I would assume ticket prices would be a little higher. Currently I believe it is $14 or $16 to sit near the field in the home plate area. So maybe 20-25 for that. Still much cheaper than a Nats game. Will be interesting to see what happens. I wish someone with more secure finances had bought the team.

This is why that won't happen...



Elected officials in Prince William County don't want any businesses there (where people can work, other than low-paying retailers.) They expect the Commonwealth of Virginia to keep addressing the traffic problems that they create for everyone else... constantly building residences, with no place to work.
 :horse:

Offline tomterp

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Re: Potomac Nationals New Stadium Watch
« Reply #142: June 28, 2017, 03:27:25 PM »

Elected officials in Prince William County don't want any businesses there (where people can work, other than low-paying retailers.) They expect the Commonwealth of Virginia to keep addressing the traffic problems that they create for everyone else... constantly building residences, with no place to work.
 :horse:

There's smart growth, and there isn't.

Offline Natsinpwc

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Re: Potomac Nationals New Stadium Watch
« Reply #143: June 28, 2017, 03:49:10 PM »
This is why that won't happen...
(Image removed from quote.)

(Image removed from quote.)
Elected officials in Prince William County don't want any businesses there (where people can work, other than low-paying retailers.) They expect the Commonwealth of Virginia to keep addressing the traffic problems that they create for everyone else... constantly building residences, with no place to work.
 :horse:

Don't worry about the traffic. The geniuses in VA have those express lanes. So you can zoom down while just paying a few bucks.

On a serious note, if you are coming from points north along 95 such as Arlington, Alexandria and Springfield, you already are dealing with this traffic to get to the current stadium. And then another 10-15 minute drive after you exit the highway. So you knock that part of the trip off.

Everyone nages here about what a dump the current stadium is but then think a new stadium would have no positive impact on attendance? 

Offline mitlen

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Re: Potomac Nationals New Stadium Watch
« Reply #144: June 28, 2017, 03:53:11 PM »
Don't worry about the traffic. The geniuses in VA have those express lanes. So you can zoom down while just paying a few bucks.

On a serious note, if you are coming from points north along 95 such as Arlington, Alexandria and Springfield, you already are dealing with this traffic to get to the current stadium. And then another 10-15 minute drive after you exit the highway. So you knock that part of the trip off.

Everyone nages here about what a dump the current stadium is but then think a new stadium would have no positive impact on attendance? 

No one I know in Loudoun goes anywhere near 95 to get to Woodbridge.     We go the "back roads".     :)

Offline HalfSmokes

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Re: Potomac Nationals New Stadium Watch
« Reply #145: June 28, 2017, 03:53:42 PM »
I like the current setup - easy dedicated parking, fields for kids to run or picnic or play catch, decent beer without long lines and decent sight lines (or the ability to move since it's pretty empty). Mostly I like it because it's cheap and easy to take the whole family- increase prices by much and I wonder how many people from points north just go to nats park

Offline Natsinpwc

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Re: Potomac Nationals New Stadium Watch
« Reply #146: June 28, 2017, 03:56:43 PM »
No one I know in Loudoun goes anywhere near 95 to get to Woodbridge.     We go the "back roads".     :)
Yea. My original post noted that it would be longer for folks in Loudon and western Fairfax. Not sure what the net effect might be.

Offline Natsinpwc

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Re: Potomac Nationals New Stadium Watch
« Reply #147: June 28, 2017, 03:58:00 PM »
I like the current setu- easy dedicated parting, fields for kids to run or picnic or play catch, decent beer without long lines and decent sight lines (or the ability to move since it's pretty empty). Mostly I like it because it's cheap and easy to take the whole family- increase prices by much and I wonder how many people from points north just go to nats park
I don't mind the current dump at all. It's baseball and like you said it's cheap. But it looks like a new stadium or hasta la vista PNats.

Offline HalfSmokes

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Re: Potomac Nationals New Stadium Watch
« Reply #148: June 28, 2017, 03:59:31 PM »
That's fine, I'm just saying if they get too fancy, they have to realize a lot of their customers are equidistant to a better product and the only advantage they have is price

Offline imref

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Re: Potomac Nationals New Stadium Watch
« Reply #149: July 12, 2017, 03:47:52 PM »
The PWC Board of Supervisors will vote on the Stadium deal on July 18.  Marty Nohe, a Democrat, appears to be siding with the GOP members of the board against the deal.  While Republican Chairman Corey Stewart supports the deal, aligning himself with most of the Democrats.

http://www.insidenova.com/news/prince_william/state-approves-million-for-parking-garage-board-s-stadium-vote/article_6ecd0d30-634e-11e7-adbd-bb6322d53b7c.html

Note cites a recent report by AG Herring questioning the constitutionally of using public funds to build the stadium.