STADIUM RULES

General Rules

• A club may construct a new stadium only when its existing park is at least 30 years old and paid off.

• Minimum down payment for new stadium is 10% of the total cost.

• Remaining balance will be paid in annual installments, at an interest rate of 10%.

• Terms of repayment may be anything from 1-30 years.

• Clubs may refinance their remaining balances to cut costs. Refinancing charge of 5% of balance will be applied.

• As long as a loan balance exists, the club is obligated to remain in the park. Once paid off, the club may remain in the park or move at any time.

• Annual payments begin immediately. The new stadium will open on the first Opening Day at least 2 years after the down payment.

• Ballparks that are 30 years old will begin to age, with detrimental effects for attendance and revenue. (-3 FI and -200k revenue per year).

• For existing UL stadiums, aging effects will begin in 1960.
  

Stadium Construction Costs

See Example Below


Stadium Renovation

In general, stadium renovations cost half of what a new stadium would cost, and give you half the Fan Interest boost of a new ballpark. But renovating an old park provides you with a cheaper alternative to stave off the detrimental effects of an aging ballpark. In addition, over time, the older parks will grow in esteem and tearing them down will hurt your Fan Interest, to the point where fan displeasure over the razing of a 'green cathedral' will partially or completely offset the new ballpark boost. This 'green cathedral' rule will be fine tuned as we go along.  In 2003, Wrigley and Fenway and Yankee Stadium are considered hallowed baseball ground. But that has less to do with the stadiums themselves than the fact that they are rarities in the age of modern ballparks. In 1951, Fenway and Wrigley were just two of many old ballparks.  (If Forbes or Griffith or Sportsman's were still around today, for instance, they would be in this category.)
Thus, the stadiums that will benefit from the 'green cathedral' rule will be those two or three parks that are still around after most other teams have moved into new stadiums.

Stadium Expansion

A club may expand its stadium for $1.5 million per 1,000 seats added.  A maximum of 10,000 seats may be added to existing ballparks.  Clubs may only increase stadium capacity if their average attendance exceeds 80% of capacity for two consecutive seasons.  (For this reason, Louisville's Parkway Field was not increased in 1952 as originally planned, because its attendance in 1951 was only 11,345 per game (19,000 capacity).


Relocation
Clubs may relocate to greener pastures if they feel that they will be better supported, and thus generate more revenue, in a new location. In 1951, the League approved a list of cities capable of supporting UL clubs. This list was modified in 1953, and will be modified from time to time to reflect the geographic expansion of the major league in the '50s and '60s, and to reflect demographic trends. Some cities will build stadiums or offer cash incentives for clubs to relocate. We will use historical ballparks where possible.

Who Can Relocate?
In general, a club that is drawing less than 75% of the league average attendance for three consecutive years is eligible to relocate without penalty and without the approval of the owners. If a club does not meet this criterion, it will be assessed $1 million for every percentage point above 75, and the move will be subject to a majority vote of UL owners.

For instance, Washington suffers through a few bad seasons. Griffith Stadium is aging and attendance is down, but the club is not among the lowest drawing clubs.  In 1960, Washington decides to relocate to Denver. Its attendances in 1957-59 averaged 90% of the league average. For Washington to relocate, it will have to pay a relocation fee of $15m (90-75), and have its proposed move approved by a simple majority of UL owners. Furthermore, a club must completely pay off any stadium loans before it can relocate. If a new stadium is being built in the new city, the club must play one final season before it moves, and will suffer a Fan Interest penalty of -15 for that season.

Ballpark Effects

• Each stadium has a unique effect on various aspects of the game.  Stadium seating capacities, dimensions, wall heights, and park effects are listed in the table below.  Park effects are indexed to 100.  Values over 100 are above average, values under 100 are below average.

NOTES: Park Factors greater than 100 favor hitters, less than 100 favor pitchers. For instance, Fenway Park will have 15% more doubles than the league average. 
* Louisville added 4,000 seats in summer 1951.

Notes on Stadiums, Team Market, and Fan Loyalty

• Where appropriate, the league will use historical stadiums.  Clubs in cities with more than one stadium must choose one home stadium.

• I have analyzed attendance data up to 1951, and have used this data to devise market size, fan loyalty, and fan interest ratings for each of the 11 major league cities and large minor league cities.  To the extent possible, we will try to approximate 1950s attendance patterns, with a modest boost due to the expected greater fan interest created by the concentration of talent on fewer teams. (In 1951-1955, average attendance per game was 12,600).

• The biggest determinant of attendance is fan interest, which will vary for each team according to market size.

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NEW STADIUM EXAMPLE

Example
In fall 1952, Brooklyn decides to build a new 42,000-seat waterfront stadium in Brooklyn Heights with views of the Brooklyn Bridge to replace Ebbets Field (1913). The site is a premium location, and the club decides to add 20 luxury boxes to the new ballpark, and to add trolley/subway links. Total cost of the park is:

	O'Malley Park
	$62 million ($50m for basic + $12m for 12,000 extra seats)			+10 FI
	$10 million for the premium location			+10 FI
	$4 million for 20 luxury boxes			+200k per yr
	$5 million for trolley/subway links			+5 FI
	$81 million -- total cost			+25 FI, +200k per yr

Financing
Brooklyn pays the minimum down payment, $8.1 million (10%) in 1952, and chooses to finance the remaining $72.9 million over 30 years. Annual payments begin in 1953, the new park opens in April 1955 (assuming fall 1952 down payment).
Principal ($72.9 million) + interest ($7.29 million) = total ($80.19 million)
30 year loan
Annual payment = $80.19 / 30 years = $2.673 million

Refinancing
In 1967, after a series of dismal seasons and inflating payrolls, Brooklyn decides it needs to reduce its loan payments to free up funds for salaries. It has made 15 years of payments on O'Malley Park, and its remaining balance is $40.095 million.  Brooklyn decides to refinance the remaining balance (+%5 refinance penalty) over 30 years (1967-1996)
Total = $40.095 + $2.005 = $42.100
30 year loan
Annual payment = $42.100 / 30 years = $1.403 million per year

Paying off balance
In 1987, with O'Malley Park aging, Brooklyn decides to build a new ballpark across the river in Hoboken, New Jersey. The club is 20 years into its loan, so it still owes $14.03 million. The club uses $8 million cash and $6.03 million raised from the sale of Orel Hershiser and Jose Canseco to Dallas to pay off the balance in full. With no balance remaining on its loan, Brooklyn is free to 'break its lease' and may relocate to a new ballpark.