Finley Stadium is gearing up for the upcoming year after landing a new contract with CFC and prospects for two more years with the Blue Cross Bowl. Plans are being made and procedures being put in place to continue the success seen in 2022. Prioritizing maintenance for the 25-year-old building is also being discussed. The calendar is already filling up with events for all the different spaces in the facility complex and the staff is preparing to accommodate all the various activities that will be taking place. This includes updating spaces and making improvements in operations to attract events and people for activating as many spaces as possible every day. In addition to the Stadium itself, the complex includes the pavilion, the parking lots, some property surrounding the facility and the Stadium Club.
The stadium has partners that use the facility on a regular basis - UTC, CFC, the Chattanooga Market and Chattanooga Sports, which is a division of Chattanooga Tourism Co. relating to sports. Chattanooga Sports reported that only glowing remarks were made after the Blue Cross Bowl was held at Finley Stadium, which encouraged the TSSAA to possibly continue the relationship for two more years.
The Chattanooga Market is not only recovering from COVID but is seeing a significant increase in activity according to the events that have been booked.
Chattanooga Football Club will hold the first event at the stadium in the new season when CFC plays Atlanta United on Jan. 28 for a pre-season match. This is a time of the year that the facility is traditionally closed down for the winter. A very good crowd of out-of-town fans are expected to come to Chattanooga, driving revenue for the city during the off-season, said CFC Managing Director Jeremy Alumbaugh. Brian Wright, executive director of Finley Stadium Corp. since last June, and his staff are credited for creating a great guest experience, one of the contributing factors for CFC moving forward with a three-year extension of their contract as a partner with Finley.
The financial statement from July 2022 through Dec. 31, 2022 showed revenue up across the board, said Mr. Wright. Parking revenue was up 14 percent, food and beverage up 13.9 percent, pavilion, with the kitchen rented out for the year, was up seven percent and rental income increased in 2022. Mr. Wright said he had staffed up, which allows the stadium to handle an overall increase in events of about 10 percent.
Expenses also increased during the same time. Accounting and legal fees were up during the transition of leadership as well as software costs. Utility expenses prompted an energy audit and repairs and maintenance were more than anticipated. The biggest increase over the previous year’s budget was for security. But Mr. Wright said that the stadium is sitting in a really good spot now having made a net profit of $273,000.
Now the executive director is looking at making upgrades as the result of analyzing data that was received from surveys and focus groups. For food and beverage, measures will be taken such as branding concession stands, identifying several food trucks to be at all events and creating grab and go stations that proved to be successful at some events last year by reducing the lines at concession stands. He plans for food and beverages to be largely local and reliable so guests will know what they will be getting.
“Kudos to Facilities Manager Peter Turk,” said Mr. Wright. He spent the holidays successfully protecting the stadium from the freezing weather. Plans not to winterize the complex changed with the drop in temperatures, and water was turned off and lines were drained. Only two minor problems occurred with pipes breaking that were in inaccessible locations.
The EPB energy audit justifies extensive capital investments, said Mr. Wright. The return on investment provides the incentive and warrants switching to LED lighting. One estimate has been done and another is due.
As for maintenance of the 25-year-old facility, wants and needs will be prioritized by a facilities committee. In addition to changing the lighting, cable will be replaced by fiber for the press boxes. And the face-lift to the Stadium Club is being designed. To help pay for the renovation, there is discussion about naming rights for the room and fundraising.
Recapping events held at Finley Stadium last year showed the many events held by partners, as well as many individual and some recurring events. There were also what was considered to be four major events - The Kane Brown concert, the Mary Ellen Locher “Pink” gala, The First Responders Day and an event held by FreightWaves, a logistics company, to showcase the future in freight. They all contributed to making 2021-2022 a great year for Finley, Mr. Wright said.
The complex as a whole has already scheduled 147 events for the coming year, some lasting multiple days. And previously unused property outside the stadium will soon become an electric vehicle charging station built by Electrify America. But there is still space left vacant. To encourage use of the Stadium Club space, plans are in the works to redesign the room. Many people are not aware this space exists, but it is suitable for gatherings not typically held at Finley. Architectural drawings have been done as the first step of the make-over. After the initial plans are approved, new furniture and fixtures will be chosen. Approval was given by the board to begin that project. The Stadium Club has been used recently for birthday parties and baby showers as well as meetings.
The executive director has developed a new event booking policy that is being recommended, so people can be clear about when and how to book events at Finley Stadium. The new policy includes the procedures for booking and specifies what is in the contract. It provides a structured way to reserve space, he said. Mr. Wright also is recommending a way to prioritize bookings and to fill the calendar with the type of events the board would like to see. Another tool that will be used is a venue guide aimed at attracting concerts. It is a blueprint of how to do different kinds of concerts, using all or part of the stadium. Mr. Wright said it is a document that can be handed to a promoter.