Filed under: Arizona, Arizona State University, Arts and Entertainment, ASU, City of Phoenix, City of Phoenix News, City of Scottsdale, City of Tempe, City of Tempe News, Community and Economic Development, Economic Development, Entertainment, Events, Maricopa County, Maricopa County News, Museum, Phoenix, Phoenix Arizona, Scottsdale, State of Arizona, Tempe, US - AZ (Phoenix) | Tags: Chase Field, Fiesta Bowl, Football, Fun, Hotels, Insight Bowl, Phoenix Hotels, Sun Devil Stadium
SCOTTSDALE RESORTS WILL CONTINUE HOSTING COLLEGE BOWL TEAMS
A long-term agreement to host college national championship, Fiesta Bowl and Insight Bowl teams at Scottsdale area resorts – and continue drawing their fans to Scottsdale – was approved by the Scottsdale City Council this week.
The agreement also paves the way for a new Fiesta Bowl Museum at the Scottsdale Waterfront, where the Fiesta Bowl will soon open its new headquarters.
The 20-year agreement aims to preserve a long-standing relationship between Scottsdale and the Fiesta Bowl while the organization makes significant changes beginning in 2007. Next year, the Fiesta Bowl moves from Sun Devil Stadium in Tempe to the new Cardinals Stadium in Glendale. Next year also marks the first time the Fiesta Bowl hosts a new Bowl Championship Series National Championship Game, which will be played at the Glendale stadium every four years. Meanwhile, the Insight Bowl will move from Chase Field in Phoenix to Sun Devil Stadium.
Fiesta Bowl teams have stayed in Scottsdale resorts and practiced in the area for more than two decades.
The agreement relies on hotel room tax revenue to fund yearly payments to the Fiesta Bowl. The agreement calls for a one-time payment of $500,000 to the organization in 2007. Annual payments begin at $210,000, and include a second, identical payment when a BCS college championship comes to the Valley.
Altogether, the Fiesta Bowl would receive more than $8.2 million over 20 years.
In return, Scottsdale will continue to receive a substantial portion of the regional economic impact associated with the bowl games. Between 2001 and 2006, the estimated regional impact ranged from $165 million to $228 million annually. The city’s Economic Vitality Department estimates the direct return in taxes to the city over the 20-year period will range from $12 million to $15 million.
For more information on Scottsdale visit:
http://www.scottsdaleaz.gov/news/2006/August/08-28-06.asp
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