Adding one of the greatest quarterbacks of all time to the roster can have a very positive impact on the bottom line.
Apart from selling more tickets and hats and jerseys and other stuff that fans will buy in droves thanks to the excitement associated with the arrival of quarterback Peyton Manning in Denver, the Broncos are contemplating strategies for maximizing one of their high-end revenue streams.
According to Forbes.com, the Broncos may be converting a pair of 32-person party suites, which go for $15,000 per game, into a block of six-to-eight mini-suites that would sell for $60,000 for the entire season.
The team estimates that this move alone would generate more than $275,000 in extra revenue.
“You sign a Peyton Manning, the most popular man in football, that’s bound to help you,” Broncos’ senior director of premium seating Ryan Barefoot said. “The downfall with the signing of Manning is that expectations rise, and we need to sell out.”
No final decision has been made on the suite renovation, but it makes plenty of sense to seize on the buzz an sell more lower-priced suites for the full year before Peyton Manning enters harm’s way than to rely on Manning both staying healthy and performing at the kind of level that would prompt both 32-person suites to sell one a game-by-game basis.
While standing alone it won’t be nearly enough to offset Manning’s contract, it’s an example of the small ways that a team can profit from the presence of a really big name.
(Photo credit: Broncos.com)