Revenue / 03.28.19
Padres, Live Nation Team Up
VenuesNow (03/25/19) Muret, Don
Major League Baseball's San Diego Padres have signed a three-year deal with Live Nation to book eight concerts annually at the Park at the Park, the three-acre green space behind center field at Petco Park. Under the agreement, the Padres have invested $700,000 to construct a permanent stage behind the batter's eye, and entered into a three-year deal with Sycuan Casino Resort as its presenting sponsor. Erik Greupner, the Padres' president of business operations, said the concert deal will have the team and Live Nation split revenue. Live Nation will assume the financial risk to buy the acts and promote the events, while the Padres can offer presale tickets to season-ticket holders and sponsors. The team is permitted to work with other promoters to book full ballpark concerts, and the partnership has sufficient flexibility to expand the venue to 10,000-attendee capacity in a festival setting by opening up J Street behind the Park at the Park. "We continue to push to come up with new ways to make [the Park at the Park] a better concert facility than in the past," Greupner noted. "We fill a big gap in this market with a full venue and can scale down to several thousand."
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Tags: Sports , Music , News , Venues