City of Norfolk, VA

Norfolk, VA

NBA Franchise Financial Analysis and Relocation Program Management

In 2001 the NBA’s Charlotte Hornets began to entertain the possibility of relocating to another market. Their consultants’ review of B&D’s MLB market and arena studies led the team to consider the Hampton Roads region as a possible new home, and the city of Norfolk became the lead public entity in discussion with the Hornets.  B&D was engaged as the city’s sports facility consultant, responsible for updating the 1995-96 arena financing plan, analyzing and advising the city on the economics of the NBA, and negotiating development and lease terms with the Hornets.  We discovered that Norfolk could finance the new arena without assistance from other local public entities because their financing plan hinged on capturing new tax revenues created by the arena, enabling the state to fund a much higher percentage of the total cost. We also assisted in the engagement of IMG as marketer of the arena’s naming rights and major sponsors.  Within three months, the team we assembled developed a complete financing plan and project concept for the arena and obtained a naming rights commitment from a Fortune 500 company at a value 25% higher than the current market rate.

Presentations 

Avoiding ObsolescencePresented by Chris Dunlavey at the 2002 IEDC "If You Build It, Will They Come?" Conference.

In the News 

Suite DreamsArco Arena is economically obsolete or will be soon.

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Hornets List Top Concerns: Red Ink and Naming RightsThe Charlotte Hornets have given the city of Norfolk and Hampton Roads Partnership a list of issues they say must be addressed before the NBA team would move to Hampton Roads.

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Luxury Boxes Critical in Luring Major TeamsWelcome to the world of luxury boxes--the corporate playgrounds that are key pieces of any professional sports puzzle put together these days.

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D.C. Consultant Launches Last-Second Shot for HornetsNorfolk city officials are enlisting the help of Washington consulting firm Brailsford & Dunlavey to help lure the Charlotte Hornets, whose owner, George Shinn, is looking to move his team.

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Norfolk Retains Help for ArenaThe Washington, D.C., firm of Brailsford and Dunlavey is assembling a detailed report on the revenues and costs associated with a new arena.

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Economist Sees Region As a Hot Bet to Get a TeamMindful of the region's alleged shallow corporate depth, the Hampton Roads Partnership hired Brailsford & Dunlavey, a Washington consulting firm, to ask corporate heads if they would support major sports.

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