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| Merrill Eckstein | |
The Stadium Corp. board adopted a budget Monday that projects $613,540 in revenue for the fiscal year starting July 1 and a surplus of $700.
Finley Stadium executive director Merrill Eckstein was praised for trimming expenses to counter losses from his May proposal that projected $654,000 in revenue and a $550 surplus. He also was commended for overseeing a busy schedule at the 20,668-seat facility, which has included the successful startup of the Chattanooga Football Club soccer team.
"We're a long way from planting a flag of victory, but there is momentum," board member Gordon Davenport Jr. said.
The mood at Monday's meeting was in sharp contrast to last month, when board chairman Bryan Patten worried that revenues were dwindling and expenses mounting. Trimming expenses improved Patten's view, as did the Chattanooga FC team, which drew more than 2,000 fans this past Saturday.
Other items from Monday's meeting included:
* Central and Sequatchie County have agreed to play Aug. 28 at Finley. It's the only prep football game scheduled at the stadium, but Eckstein said he will talk with East Hamilton High about playing games there.
* The board agreed to study a proposal brought up by UTC athletic director Rick Hart that would give Learfield Sports exclusive marketing rights to the stadium.
* Eckstein said the NCAA will send out bids to host future Football Championship Subdivision title games after this year's contest, which will be held Dec. 18. The NCAA opened up bids before, with Chattanooga retaining the game over bids from San Antonio and Cedar Falls, Iowa.
* Lawson Electric president Ryan Crimmins was lauded for having five electricians perform landscaping around the stadium.
A Chattanooga FC match generates about $700 to the Stadium Corp., according to Eckstein. The team is scheduled to hold its final home match July 4.
"Suddenly we have another avenue that has credibility," Patten said. "I feel better about it, I definitely do. Merrill is clearly competent to meet the administrative challenges, and he's got a board that's going to watch him like a hawk if we begin to get items out of balance with the budget."
A revenue reduction in skybox fees and parking income from Eckstein's original proposal will be combated by saving $25,0000 in insurance, cleaning services and upholstering. The Stadium Corp. will save $12,000 in insurance by reducing a $10 million excess liability to $5 million and will peel $8,000 off a $38,000 estimate to reupholster skybox seats.
Eckstein said Hixson Upholstering would be repairing the seats and Family Concessions & Catering will be the new concessionaire.
"I really think we can hit break-even, but our variables are so great that to say that at this point is being Merrill the optimist," Eckstein said. "I think we've been able to cut into expenses, and the revenue side does not have outrageous projections in relation to what was experienced previously. If anything, on the revenue side, I think we ought to do better.
"I think UTC (football) crowds will be larger, and we've got more events in here, with a perfect example being the soccer team."
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