Calvin Falwell Field – MiLB Class High-A Lynchburg Hillcats

Lynchburg,

Ballpark Financial Review

In 2001, the City of Lynchburg engaged B&D to perform a financial review for the proposed renovation of the 4,000-seat Calvin Falwell Field (formerly Lynchburg City Stadium). At the time, this facility was the home to the Lynchburg Hillcats, a Single-A baseball franchise in the Carolina League. Lynchburg recognized the ballpark should be renovated to attract greater attendance and maximize the financial performance of the Hillcats. We interviewed city officials and Lynchburg Baseball Corporation (LBC) executives, toured the existing facility, reviewed financial projections for the proposed renovation, and conducted a comparative market analysis of Carolina League franchises. We concluded that the proposed renovations would create a ballpark environment that would produce success consistent with what minor league baseball enjoyed nationwide. Furthermore, we believed revenue and expense projections developed by the city and LBC were realistic, if not conservative, and were a reasonable basis upon which to proceed. The $6.5 million renovation of Calvin Falwell Field was completed in 2003. Improvements included a wider concourse, larger bathrooms, a larger concession area, new seats, handicap accessibility, picnic areas, skyboxes, and a new outfield fence and scoreboard.