Background Information on Detroit's Tiger Stadium

I. The fundamentals

Jan. 1,1978	John Fetzer sells Tiger Stadium to City of Detroit for $1.00 and City agrees to lease back for 30 years. City gets $5,000,000 Federal Grant and issues $8,500,000 in revenue bonds to finance renovation of the stadium. Revenue bonds serviced by 50¢ surcharge per ticket which was increased to 90¢ to cover additional bonds in 1982.
Spring 1989	All bonds paid off, 90¢ per ticket still collected for "stadium maintenance"
Aug. 26, 1992	Michael Ilitch buys Tigers and continues to collect 90¢ surcharge per ticket
1993-1995	Total ticket surcharge revenue for three years: $3,908,463
Oct. 30, 1995	Memorandum of Understanding between City of Detroit, Downtown Development Authority, and Detroit Tigers, Inc. to terminate original 30 year lease at its expiration in 2007. Tigers agree to deposit sum of $2,000,000 with City when new stadium is occupied. This amount to be used for maintenance and/or demolition of Tiger Stadium.

1996-1998

Total ticket surcharge revenue for additional three years: $3,548,842

Sep. 27, 1999

Final game (6,783rd) played in Tiger Stadium.

Sep. 27, 1999 - ongoing

Detroit Tigers, Inc. serve as "caretakers" of Tiger Stadium, ongoing furnishing field maintenance and security for a stipend of $420,000 per year. In addition Tigers receive and retain all fees for use of the stadium. Including:

Revenue from five Tiger Fantasy Camps
Rental for filming of HBO Movie, *61 (the story of Roger Maris' pursuit of Babe Ruth's run record)
Rental during fielding of four separate baseball games sponsored by Michigan & Trumbull, LLC (Collegiate Wood Bat League, Women's Professional Baseball

II. Wasting Asset/Conflict of Interest

For two and a half years, Tiger Stadium has been a wasting asset of the City of Detroit. That is to say: instead of producing benefit in cash and kind for the city, it has been a continuous revenue drain. Part of the reason for this is that the Detroit Tigers, Inc. are not interested in the stadium being used for any activity which can conflict with their perceived entertainment monopoly. They view the stadium's future only in terms of demolition. Their influence is such that proposals that could cause the stadium to produce positive revenue flow are discouraged by the city.

III. Back to the Future

Michigan & Trumbull, LLC, along with many other Detroit area businesses and individuals, sees the stadium as a valuable city-owned asset with a viable future as a revenue generator — revenue that could be earmarked for the budget-starved Recreation Department, or, more specifically, for the Belle Isle Renaissance, or to supplement "Mayor's time" activities.

Where would the revenues come from? Sources are twofold. Initial savings will be realized by placing a stoppage on fees being paid to the Detroit Tigers, Inc. for the current caretaking. Once that "bleed" is resolved, net profit from activities promoted in the stadium reverts to the city.

In addition to being a source of revenue, Tiger Stadium can become a "place of interest" supporting the purposes of the Detroit Convention and Visitor's Bureau.

Along with Fenway Park, Wrigley Field, and Yankee Stadium, Tiger Stadium is one of just four (4) classic ballparks still standing. Of the four, it is the oldest and therefore closest to the origin of the game.

Think about it. The Baseball Hall of Fame in Cooperstown recently has inaugurated traveling exhibits, through which the Hall carries treasured artifacts to the fans and historians clamoring to see them. What better stop for displays such as "Baseball as America" than historic Tiger Stadium?