LOCATION
Miami, Florida
PROJECT HIGHLIGHTS
Market and Financial Analysis for the Proposed Expansion of the Football Stadium
Analyzed the Merits of Adding an MLS Franchise as a Potential Tenant
Strategic Planning Workshop
Demand and Market Support Patterns within the Area
Investigated the Potential for Additional Premium Seating as Part of the Stadium Expansion
PROJECT DESCRIPTION
Johnson Consulting was retained by the University to serve as its independent advisor on the proposed expansion of the on campus football stadium at Florida International University (FIU). We completed a strategic planning exercise for the stadium expansion, which included recommendations regarding size of stadium, date of opening, and opining on internal estimates of market potential, demand and projected financial performance. As the project advanced, our report was used by design and finance team members and University administration as a basis of information. Ultimately, our report was used for underwriting purposes for their 2008 stadium expansion.
The main goal of the study was to obtain answers to two primary strategic questions:
Should the University push to open the stadium in 2007, or would to wait an extra year to be prudent?
How big should FIU’s stadium be in terms of seating capacity in its first phase and ultimately overall?
Johnson Consulting provided FIU with the demand and market support patterns within the competitive area for the proposed regional stadium in the South Florida marketplace. We also estimated achievable demand potential for the football stadium’s elements, and presented a ten year projection of revenue, expenses, debt service and funds available for other purposes and coverage ratios.
