Executive Director of Finley Stadium Paul Smith on Tuesday, told the Stadium Board that the numbers look comparable to last year. He said that Hayley Bates, events and hospitality manager, is always diligent in booking the facility and that two new, large events are scheduled this year. Corky Coker’s Cruise- In will be held at the stadium and is planned to be bigger than it was last year. A large marathon will also use the facility as a new venue. With the help of Erika Tierce, Mr. Smith has put in place, a monthly accounting review done by an external accounting firm to make certain finances are in line.
A change since the last board meeting is that a real-time point of sales reporting system has been put in place. This will collect data about what concessions are selling, such as size and flavor. It pertains just to booths that are operated by the stadium. Other vendors are required to give a post sales report. This was implemented to give accountability and to provide dependable sales reports. Mr. Smith said that now all stations accept credit cards and Wi-Fi is in all locations in and around the stadium. Board member Gordon Davenport told the board that Mr. Smith and Ms. Tierce had also put in a number of other controls to ensure integrity of operations. The numbers will continue to grow as the community does, said the executive director.
The stadium is now being used for many things other than Mocs football. One of the biggest is soccer with the stadium’s partner The Chattanooga Football Club. That relationship continues to be a good one for both the club and the stadium and in the coming months a new contract for next year will be developed. There will be changes because of issues that cropped up on both sides, said Mr. Smith.
The Chattanooga Kitchen, which will be available for use by the community, should be opened by Oct. 1. This new business was made possible by a grant from the Benwood Foundation which provided $175,000 for the construction of the facility. Once it is open, the foundation will subsidize the business for the next three years, paying the stadium $2,000 a month. By the fourth and fifth year the kitchen will have to stand on its own. It will be managed by the group that manages the Chattanooga Market. For more information, the website is www.chattanooga.kitchen.
Signs that are placed in and around the stadium also provide revenue. UTC contracts out the business of finding advertisers to the company Mocs Sports Properties, who are constantly marketing the school’s events. This year there are already some new signs in place. Mr. Smith asked for the board’s input about finding a balance between selling spaces for signs that bring in money without lessening the facility. Mr. Davenport said there are some locations that created clutter, but in his opinion, the stadium has not yet gotten to that point. The stadium is guaranteed to receive $25,000 and gets a split of sales above a certain amount. Last year the stadium was paid $37,000 and the amount is now approaching $48,000 for next year. It was decided to put together a committee to review and determine what is acceptable for advertising in the complex.
Discussions continue about use of the stadium for a concert venue. An anonymous donation of $200,000 has been given for utilizing the field for outdoor concerts.
Skybox windows that open have been discussed previously, and approval was given at the last meeting to install sliding windows in one skybox as a test. Board member Mike Davis reported that two box owners would like to have them, and are willing to pay for them. A system called “Game-To-Life” will be used which has all the elements that are required by Finley Stadium. Installation is expected to be completed by Nov. 11, one day before the last UTC football game of the season. The cost is $27,000 each. Mr. Davenport said this option would have to be paid by the skybox owner.
Discussions are taking place with TVA this week about the solar panels above the south parking lot, said Mr. Davis. This, too, provides income for the stadium.
Before the first home football game this year, UTC organized a block party named Mocs Block, in cooperation with the surrounding businesses and the stadium. A stage was erected underneath the scoreboard on Chestnut Street for a band. The area was opened early during the day for tailgating, and music started at 1 p.m. Discounts were given by the participating restaurants and bars for customers wearing blue and gold. Mr. Davenport said this had added energy to that Thursday night game and that the student section was filled more than it usually is. More Mocs Blocks are being planned.
The next Stadium Board meeting will be Nov. 15, when leadership of the board will be passed from Chairman of the Board Bryan Patten to Gordon Davenport.