Thursday, November 08, 2012

Biscuits' rent reveals low revenue for FY 2012

The Biscuits, despite a playoff product on the field, had their worst season at the pocketbook in 2012.
The Biscuits totaled $4.6 million in operating revenue for the fiscal year, according to figures filed with the city for the quarterly rent payment due last week.

The full $4,634,717 is just $6,500 less than 2011, the previous low. Both still are more than $1 million over pro forma projections used by the city council when it approved stadium construction in 2002.

The Biscuits paid $150,984 at the end of October to end the fiscal year. In FY 2012, they paid $363,088 in rent, about $2,000 less than in 2011.

Since Riverwalk Stadium opened in 2004, the team has forked over more than $5 million in rent, which is based on varying percentages of sales and revenue at the stadium. The team has had almost $48 million in operating revenue.

The Biscuits drew an official attendance of 244,976 this season, which was the lowest in team history.

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