Hampton Roads Partnership

Norfolk,

Ballpark Market Study

In 2001 the Hampton Roads Partnership commissioned B&D to conduct a corporate market analysis for the potential relocation of a Major league Baseball (MLB) franchise to the Hampton Roads area of Virginia. The purpose of this study was to assist the MLB in evaluating the area market and provide an estimate of the local corporate financial support that a MLB franchise could expect. Our tasks included: statistical research on the Hampton Roads region; interviews with local business interests; and a review and analysis of existing MLB franchises, ballparks, revenue sources, and media markets. Our studies concluded that the area compared very favorably to other MLB markets and was especially attractive since it did not serve any other major league franchises. We estimated that a franchise in the region would generate nearly $55.6 million per year from premium seating, advertising, naming rights, and media rights, while comparable MLB metropolitan areas would generate an average of $47.4 million.