Legends Hospitality Management
The name definitely encapsulates the partners’ reputations in their given leagues and by no stretch the status of their owners as well. By the fall of 2008 the New York Yankees, Dallas Cowboys and Goldman Sachs had formed a food and retail company in Legends Hospitality Management LLC. George Steinbrenner’s Yankees and Jerry Jones’ Cowboys will each own 34%, with the rest being owned by Goldman Sachs and CIC Partners LP. Goldman Sachs and CIC will provide financing for the company.
The move was a change for both teams as Centerplate Inc. operated the Yanks Park for 40 years and the Cowboys had operated their concessions at Texas Stadium for the past 20 years. Their entry into the industry was well timed. With the Yankees unveiling their $1.3 billion coliseum and the Cowboys unveiling their $1.1 billion dollar playground in 2009, pair with the fact Legends identified a dozen professional sports venues with food service contracts expiring in 2009. Former Pizza Hut President and managing partner at CIC Mike Rawlings was named the CEO.
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Tyler Johnson is an innovative thinker inspired by the likes of Bill Veeck, Jon Spoelstra, Pat Williams & Brooks Boyer. Currently working for Kroenke Sports & Entertainment as a Group Sales Account Executive for the Denver Nuggets. Prior he worked as the New Business Development Executive with the Chicago White Sox. Tyler has also worked directly with the inventor and creator of Arena football and also for Mike Ditka’s former Chicago AFL franchise. As a former collegiate athlete and business sensed individual Tyler ventured to combine his passions to get into the business side of sports.
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Economical shifts in baseball have been in motion since 1997 when MLB officially granted the commissioner the power to unequally distribute the revenues from the Central Fund. Previously they were distributed equally. It was the fall of 2006 when the players association and MLB reached the current five-year agreement in which each team contributes 34% of their local revenues*. These local revenues are consisted of local television & cable rights fees, gate receipts, concessions, parking, suite rentals, postseason revenues, advertising & public relations, and spring training. Estimated that local revenues are 70% to 80% of teams’ total revenues, economic factors such as attendance, per capita income and other standard statistical census figures are largely responsible for the level of total revenue each team collects. In 2007, over $300 million was transferred from high to low revenue teams.
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Tyler Johnson is an innovative thinker inspired by the likes of Bill Veeck, Jon Spoelstra, Pat Williams & Brooks Boyer. Currently working for Kroenke Sports & Entertainment as a Group Sales Account Executive for the Denver Nuggets. Prior he worked as the New Business Development Executive with the Chicago White Sox. Tyler has also worked directly with the inventor and creator of Arena football and also for Mike Ditka’s former Chicago AFL franchise. As a former collegiate athlete and business sensed individual Tyler ventured to combine his passions to get into the business side of sports.
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Imagine this for a second: You head out in the morning to shoot some hoops at your local basketball courts and you decide to “check in” using either Gowalla or Foursquare or any of the new geolocation platforms. Boom! You’re rewarded with free tickets to an NBA game. Later in the day, you head to Foot Locker, and when you check in, you get a special discount on any pair of Nike running sneakers. That night, when you head to your favorite sports bar and check in to let your friends know where you are, you’re gifted with an invitation to an exclusive VIP Playoffs party. The possibilities are endless.
Pretty soon, you won’t have to “imagine” any of this. In fact, as of last week, the first scenario (free tickets to an NBA game) is now a reality. On April 12th, VaynerMedia (the company I work for) helped facilitate a social campaign between the NBA’s New Jersey Nets and geolocation platform Gowalla. The campaign utilized Gowalla’s virtual item platform to distribute 250 pairs of virtual tickets in targeted locations (sports bars, outdoor parks, gyms) for April 12th’s New Jersey Nets v. Charlotte Bobcats basketball game. Users that found these virtual tickets were able to redeem the item for real tickets.
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Sam is a Creative Strategist for VaynerMedia, a social media agency based in New York City. Sam previously worked as an Account Executive for the New York Jets as well as the New Jersey Nets and spent time working with former NBA player Jalen Rose as well as NFL safety Kerry Rhodes. He now focuses on creative strategy across VaynerMedia's portfolio. You can follow Sam at http://twitter.com/gosam & visit VaynerMedia at http://www.vaynermedia.com.
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Legends Hospitality Management
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