Bridgeport, CT
Ballpark Feasibility Analysis and Lease Negotiations
In 1997, the City of Bridgeport was selected by the newly founded independent Atlantic League of Professional Baseball to be a home to one of the league's founding franchises on the basis of the City's downtown revitalization plan which included a minor league-level ballpark. The City engaged Brailsford & Dunlavey to complete a feasibility study for the proposed ballpark and baseball franchise and to negotiate lease terms with the prospective ownership group.
B&D completed a comprehensive market and
financial feasibility study, projecting
attendance for the facility and corresponding
revenues and operating expenses. This effort
was particularly challenging because of the
lack of operating history for the Atlantic
League and the City's concerns about the
long-term viability of an independent baseball
league. B&D's analysis provided the City
with enough confidence in the market's strength
and the positive prospects for the Atlantic
League that the City was able to enter into
negotiations with the league and the franchise
ownership group. B&D advised the City on
those negotiations, and the franchise began its
1998 season in Harbor Yard. In that inaugural
season and in every subsequent year, the
Bluefish have achieved attendance and revenue
levels precisely on par with B&D's
projections.
