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lakersken80
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Joined: 12 Aug 2009
Posts: 36324
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 Posted: Fri Nov 19, 2021 10:05 am Post subject: |
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| JUST-MING wrote: | | Staples Center cost $375 million to build in 1999. |
I think the property values of that area has just risen a bit....funny enough it was the Staples Center that led to a revitalization of the area. |
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venturalakersfan
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Joined: 14 Apr 2001
Posts: 141065
Location: The Gold Coast
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| Posted: Fri Nov 19, 2021 10:10 am Post subject: |
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| Aeneas Hunter wrote: | | venturalakersfan wrote: | | LakersRGolden wrote: | | Wow, the name on the building would pay for 1/2 a new Stadium. Something to remember the next time the Lakers are house shopping. |
New stadiums run $4-5 billion, the naming rights are a drop in the bucket. |
What? No NBA arena has cost anywhere close to that. Even the recent football stadiums haven't cost that much. |
SoFi stadium in LA cost over $5 billion. A 2-bedroom condo now goes for $700,000 in parts of LA. Real estate is at a premium, as are building materials. The Clippers arena is expected to cost more than $2 billion.
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mad55557777
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Joined: 29 Jun 2005
Posts: 14235
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| Posted: Fri Nov 19, 2021 10:18 am Post subject: |
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| venturalakersfan wrote: | | Aeneas Hunter wrote: | | venturalakersfan wrote: | | LakersRGolden wrote: | | Wow, the name on the building would pay for 1/2 a new Stadium. Something to remember the next time the Lakers are house shopping. |
New stadiums run $4-5 billion, the naming rights are a drop in the bucket. |
What? No NBA arena has cost anywhere close to that. Even the recent football stadiums haven't cost that much. |
SoFi stadium in LA cost over $5 billion. A 2-bedroom condo now goes for $700,000 in parts of LA. Real estate is at a premium, as are building materials. The Clippers arena is expected to cost more than $2 billion. |
so you are saying if Jeanie chose to built an Arena, the value goes up? what a surprise.
are you seriously using NFL stadium as cost estimate for an NBA arena? even if it costs 2 B, the naming rights and the corporate deals would more than cover that, just see how much money Warriors got. also the concerts, events .etc.
yes, 700 mil for 20 years is the sponsor, but when you finance, you are paying it on yearly basis as well. |
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Halflife
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Joined: 15 Aug 2015
Posts: 11309
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| Posted: Fri Nov 19, 2021 10:25 am Post subject: |
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| just pay to have a retractable basketball floor at so-fi and call it a day. |
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lakersken80
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Posts: 36324
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| Posted: Fri Nov 19, 2021 11:49 am Post subject: |
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| Halflife wrote: | | just pay to have a retractable basketball floor at so-fi and call it a day. |
Theres a lot of reasons why NBA teams stopped playing at football stadiums. |
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pjiddy
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Posts: 27412
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| Posted: Fri Nov 19, 2021 11:50 am Post subject: |
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| mad55557777 wrote: | | venturalakersfan wrote: | | Aeneas Hunter wrote: | | venturalakersfan wrote: | | LakersRGolden wrote: | | Wow, the name on the building would pay for 1/2 a new Stadium. Something to remember the next time the Lakers are house shopping. |
New stadiums run $4-5 billion, the naming rights are a drop in the bucket. |
What? No NBA arena has cost anywhere close to that. Even the recent football stadiums haven't cost that much. |
SoFi stadium in LA cost over $5 billion. A 2-bedroom condo now goes for $700,000 in parts of LA. Real estate is at a premium, as are building materials. The Clippers arena is expected to cost more than $2 billion. |
so you are saying if Jeanie chose to built an Arena, the value goes up? what a surprise.
are you seriously using NFL stadium as cost estimate for an NBA arena? even if it costs 2 B, the naming rights and the corporate deals would more than cover that, just see how much money Warriors got. also the concerts, events .etc.
yes, 700 mil for 20 years is the sponsor, but when you finance, you are paying it on yearly basis as well. |
Depending on where they're built, yes. SoFi and the next Clipper arena were/will be built in Inglewood, where property values are below what building in downtown would be. And if naming rights/corporate deals easily covered construction fees, then couldn't anyone could build an arena? And never have to ask for money from the city?
There's reason the Busses don't own Staples already. Arena property is next level wealth. |
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LakerSD
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Joined: 10 Nov 2016
Posts: 19597
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| Posted: Fri Nov 19, 2021 11:59 am Post subject: |
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Tales from the crypt team playing at home in the crypto center.
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mad55557777
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Joined: 29 Jun 2005
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| Posted: Fri Nov 19, 2021 12:37 pm Post subject: |
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| pjiddy wrote: | | mad55557777 wrote: | | venturalakersfan wrote: | | Aeneas Hunter wrote: | | venturalakersfan wrote: | | LakersRGolden wrote: | | Wow, the name on the building would pay for 1/2 a new Stadium. Something to remember the next time the Lakers are house shopping. |
New stadiums run $4-5 billion, the naming rights are a drop in the bucket. |
What? No NBA arena has cost anywhere close to that. Even the recent football stadiums haven't cost that much. |
SoFi stadium in LA cost over $5 billion. A 2-bedroom condo now goes for $700,000 in parts of LA. Real estate is at a premium, as are building materials. The Clippers arena is expected to cost more than $2 billion. |
so you are saying if Jeanie chose to built an Arena, the value goes up? what a surprise.
are you seriously using NFL stadium as cost estimate for an NBA arena? even if it costs 2 B, the naming rights and the corporate deals would more than cover that, just see how much money Warriors got. also the concerts, events .etc.
yes, 700 mil for 20 years is the sponsor, but when you finance, you are paying it on yearly basis as well. |
Depending on where they're built, yes. SoFi and the next Clipper arena were/will be built in Inglewood, where property values are below what building in downtown would be. And if naming rights/corporate deals easily covered construction fees, then couldn't anyone could build an arena? And never have to ask for money from the city?
There's reason the Busses don't own Staples already. Arena property is next level wealth. |
building an arena isn't for every team, and that much is clear. the lakers arena doesn't have to be in downtown to draw people there, remember the Forum? she wouldn't be the first NBA team doing it, and i was hoping by watching how Chase Center was successful, she would've chose to go that route. this is the Lakers we are talking about here. building own arena in 1999 was very risky and Jerry couldn't afforded it, but the landscape is totally different today.
having more revenue increases team valuation,
makes is much easier to pay the ridiculous repeater tax (see warriors),
gives you higher chance of winning
which will brand more value |
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Hammett
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Joined: 20 Dec 2008
Posts: 8134
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| Posted: Fri Nov 19, 2021 6:40 pm Post subject: |
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| Kobetan wrote: | Going from one of the cooler names for an arena to one of the worst...
Some worse ones I can think of lol:
Ball arena (Denver)
Footprint arena (Phoenix)
Smoothie King center (NO) |
I remember when the Sacramento Kings renamed Arco Arena to Sleep Train Arena. LOL
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lakersken80
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Joined: 12 Aug 2009
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| Posted: Sat Nov 20, 2021 9:39 am Post subject: |
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| They just had the president of the Staples Center on KTLA. Basically the arena bought the naming rights back from Staples back in 2018. It was part of the process in which they needed to begin a renovation of the arena which will cost 9 figures. The Crypto.com naming rights will help them pay for the renovations. |
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Hammett
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| Posted: Sat Nov 20, 2021 10:53 am Post subject: |
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The Crypt may be appropriate in relation to where the Lakers will be residing in the standings in the future after Lebron retires.
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pio2u
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jonnybravo
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| Posted: Mon Dec 06, 2021 11:00 pm Post subject: |
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| lakersken80 wrote: | | Halflife wrote: | | just pay to have a retractable basketball floor at so-fi and call it a day. |
Theres a lot of reasons why NBA teams stopped playing at football stadiums. |
Spurs were the last right?
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ViolaMB
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Joined: 16 Mar 2009
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| Posted: Tue Dec 07, 2021 4:16 am Post subject: |
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| Hammett wrote: | | Kobetan wrote: | Going from one of the cooler names for an arena to one of the worst...
Some worse ones I can think of lol:
Ball arena (Denver)
Footprint arena (Phoenix)
Smoothie King center (NO) |
I remember when the Sacramento Kings renamed Arco Arena to Sleep Train Arena. LOL |
Or the iconic(and our nemesis which we couldn't win in for years) Rose Garden in Portland to (bleep) Moda Center 
or the great Quicken Loans Arena in Cleveland to Rocket Mortgage FieldHouse
also Utah Jazz' once great Delta Center to Vivint Arena, or Miami from the highly recognisable AmericanAirlines Arena to FTX Arena 
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XTC
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Joined: 22 Jun 2002
Posts: 6075
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| Posted: Thu May 12, 2022 1:45 pm Post subject: |
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Sorry for the bump, we're NOT THERE YET -- however given the current volatility in the cryptocurrency market, one has to wonder if Crypto.Com can't fulfill its $700million agreement and the signage has to be taken down, the venue would probably temporarily revert back to its original non-sponsored name. Was there ever an original *non-sponsored* name for the downtown arena?
We're only a few months removed from those Crypto.Com "Fortune Favors The Brave" commercials, how quickly the sentiment has taken a turn for the worse. For ol' times sake, I wouldn't mind if Staples Corp got a deal to resume naming rights in case things don't work out. |
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lakersken80
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| Posted: Thu May 12, 2022 1:50 pm Post subject: |
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| XTC wrote: | Sorry for the bump, we're NOT THERE YET -- however given the current volatility in the cryptocurrency market, one has to wonder if Crypto.Com can't fulfill its $700million agreement and the signage has to be taken down, the venue would probably temporarily revert back to its original non-sponsored name. Was there ever an original *non-sponsored* name for the downtown arena?
We're only a few months removed from those Crypto.Com "Fortune Favors The Brave" commercials, how quickly the sentiment has taken a turn for the worse. For ol' times sake, I wouldn't mind if Staples Corp got a deal to resume naming rights in case things don't work out. |
Staples isn't in a financial position to resume any type of sponsorship deal.
And it reminds me of Enron Field, they too couldn't fulfill their financial sponsorship obligations. |
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XTC
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Joined: 22 Jun 2002
Posts: 6075
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| Posted: Thu May 12, 2022 2:32 pm Post subject: |
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^Forgot all about Enron debacle, the cheating *stros couldn’t get that name off the stadium fast enough. Looks like they paid bankrupt Enron $2.1million for the name removal in 2002.
Staples had a 20-year deal at $116 million which looks like a bargain now compared to what Crypto has agreed to pay. You’re right, it does not seem likely for Staples to come close to ponying up the current $35million/year fee to resume. Btw, maybe Larry David will be right after all. |
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