Dolcefino and the Sports Authority - Part 2
The second part of Wayne Dolcefino's look at the Houston Sports Authority aired last night.
Last night's topic was the Rockets' expensive, money-losing parking garage. Here's an excerpt:
Toyota Center in the heart of downtown is home to a chunk of the huge debt we have because we have built sports stadiums across our city. But we didn't just build a stadium for Les Alexander and his teams.
You built the Toyota Center parking garage next door. And if you want to see your tax dollars going down the drain, just enter there. You know how much money the Toyota garage has lost since it opened in 2003? We found it lost $1.2 million.
"We have a situation where the sports authority collects very little of the revenue, yet pays the lion's share of expenses," said CPA Bob Martin.
The Rockets pay the expenses and keep all the money made on game days, but you pay expenses to operate the garage the rest of the time -- a virtually empty garage.
"We've been unable during the day to get anybody to park there," said Billy Burge with the Houston Sports Authority.
Look at the receipts on one day, they totaled just $14.00. But under the lease, the sports authority inked with the Rockets, the garage has to stay open and staffed, even for a handful of Rockets executives to park there.
Dolcefino promises he'll have more on the Sports Authority tonight.
Why does this entity still exist?
BLOGVERSATION: Lose an Eye, It's a Sport.
Posted by Kevin Whited @ 08/29/07 08:39 AM | Print |
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