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Baltimore Soccer Stadium Study

Baltimore Soccer Stadium Study

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Published by aaron4220

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Published by: aaron4220 on Dec 24, 2010
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4427 W. Kennedy Boulevard ∙ Suite 200 ∙ Tampa, Florida 33609 ∙ Phone 813.281.1222 ∙ Fax 813.315.6040
Market & Economic Study forTwo Proposed New Soccer Stadiums inDowntown Baltimore, Maryland
Final Report December 2010
4427 W. Kennedy Boulevard Suite 200 Tampa, Florida 33609 Phone 813.281.1222 Fax 813.315.6040
December 10, 2010Mr. Gary McGuiganProject ExecutiveMaryland Stadium Authority333 W. Camden Street, Suite 500Baltimore, Maryland 21201Dear Mr. McGuigan:In accordance with our agreement dated December 9, 2009, Crossroads Consulting Services LLC hascompleted its market and economic analysis related to two proposed new soccer stadiums in downtownBaltimore. The report presented herein includes the summary of findings and principal conclusions fromour research.This analysis was prepared for the Maryland Stadium Authority, City of Baltimore and BaltimoreDevelopment Corporation for their consideration of plans for two proposed new soccer stadiums indowntown Baltimore. The findings and assumptions contained in the report reflect analysis of primaryand secondary sources. We have utilized sources that are deemed to be reliable but cannot guarantee theiraccuracy. Moreover, estimates and analysis regarding the proposed new soccer stadiums are based ontrends and assumptions and, therefore, there will usually be differences between the projected and actualresults because events and circumstances frequently do not occur as expected, and those differences maybe material. We have no obligation, unless subsequently engaged, to update this report or revise thisanalysis as presented due to events or conditions occurring after the date of this report. In accordancewith the terms of our engagement letter, the accompanying report is restricted to internal use by theMaryland Stadium Authority and the Baltimore Development Corporation and may not be relied upon byany third party for any purpose including financing. Notwithstanding these limitations, it is understoodthat this document may be subject to public information laws and as such can be made available to thepublic upon request.This analysis was prepared under the Consulting Standards issued by the American Institute of CertifiedPublic Accountants (AICPA) and does not constitute an examination, compilation or agreed uponprocedures in accordance with the standards established by the AICPA. As such, we do not express anopinion or any other form of assurance on whether the prospective financial statements are presented inconformity with AICPA presentation guidelines or on whether the underlying assumptions provide areasonable basis for the presentation.Although you have authorized reports to be sent electronically for your convenience, only the final hardcopy report should be viewed as our work product.We have enjoyed working on this engagement and our on-going relationship with the Maryland StadiumAuthority and the Baltimore Development Corporation and look forward to the opportunity to provideyou with continued service. If you have any questions regarding this report, please contact Susan Siegerat 813.281.1222.Sincerely,
Crossroads Consulting Services LLC
 1. Introduction 1
Market & Economic Study for Two Proposed New Soccer Stadiumsin Downtown Baltimore, MarylandTable of Contents
1 Introduction12 Overview of U.S. Soccer63 Market Analysis264 Comparable Facilities Analysis725 Economic Analysis986 Summary of Findings114

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