Business continues to be good at Finley Stadium and preparations are underway to continue the trend. Three new capital projects are in the works.
Renovations to the old Stadium Club will transform it into The Ultra Club, which will be an updated venue that is expected to be used for receptions, parties, meetings or other gatherings. The construction is almost 50 percent done and should be finished by the end of April. Beginning April 25, five events are planned in four days, for the purpose of introducing the space to the community, starting with a vendor open house to show it off to groups such as corporate planners. The official grand opening will be by invitation to skybox owners and the closest partners with Finley Stadium. An after-party will be held following a CFC match and a public open house will be held in conjunction with the Chattanooga Market. Two wedding receptions have been booked before it is open. Finley Stadium Executive Director Brian Wright said the rental price for the space is reasonable, there is plenty of parking and the operations will be flexible.
The stadium is also getting new elevators, with help from Hamilton County which is providing $600,000 toward the project. All the parts and needed equipment for the replacement have been ordered and installation is scheduled to begin May 1 and be complete by the end of August. Mr. Wright said that parts are no longer available for the existing elevators that are original to the stadium. One elevator will be kept operational throughout the work by having available parts, if needed, from the first elevator when it is taken out.
New equipment has already been received for removing paint from the field that is used when re-marking it from football season to soccer. The old equipment required three people to operate and two days of work, but with the new machine, a single person can do it.
In the transition time between football and soccer, there are plans for another capital improvement project, which is to replace the field lights. Mr. Wright said he is confident it can be done prior to the start of football.
Business operations show that parking revenue is improving with Electrify America leasing the space and opening an electric charging station on property owned by the Stadium. Mr. Wright said it has been interesting to see the large volume of cars that are automatically directed to the station. The technology there can fully charge a car in 15-20 minutes. He said this has increased daily traffic to the campus. And an agreement has been entered into with TDOT to transfer the use of state-owned property to Finley Stadium. It is a parking lot that will be used for event parking, which will add around 250 more parking spaces to sell.
Mr. Wright anticipates food and beverage sales to be an area of opportunity for added revenue. The category saw a 25 percent increase during the 2023-2024 year. Changes this year include the hiring of an in-house chef. And improvements are being made to the concessions. “Kick it Up,” a new, elevated concession stand will be available, offering items such as tacos, hot wings, and churros, said Food and Beverage Manager Crystal Lee. Draft beer and frozen margaritas will also be offered. And this year pizza will be made in-house. She said that the goal is to not only have good food, but also a good experience for customers. With the increased revenue from food and beverage sales has come increased expense, said Mr. Wright. He will be working to rein-in those costs.
Income from facilities rentals is also higher by 15 percent, year to date. And the calendar at the First Horizon Pavilion only has a few Saturdays left open. Unfortunately, business is being turned away, said Director Wright. New this year was Ice on the Landing that operated at First Horizon Pavilion on the stadium’s campus. That proved to be a bonus during its slowest time of the year for the facilities. With it, the cost of utilities saw a large spike, said Mr. Wright. A typical electric bill of $1,000 to $1,200 jumped to $7,000 because of the cost to run the chiller to keep the ice rink frozen. But he said that cost was built into the rental fee.