Coliseum, Arena Profitable Beyond Raiders Revenue

The Los Angeles Coliseum-Sports Arena complex would have shown a profit in the fiscal year just concluded, even if the Los Angeles Raiders had not played football there, according to figures released Wednesday by Coliseum officials.

The officials emphasized that they hope the Raiders will continue to play in the Coliseum indefinitely. But due to a sharp rise in the number of concerts booked for the Sports Arena and occasionally also for the Coliseum, the complex apparently is becoming viable without them.

Leaving aside a $19.6-million damage award received from the National Football League, the Coliseum and Sports Arena together still made an in-hand profit of about $1 million in the 1987-88 fiscal year ending June 30, according to chief accountant Theodore L. Bachman Jr. This represents a gain of about $1.4 million over the returns of the previous fiscal year, in which the complex recorded about a $400,000 loss.

Bachman said that in addition to the profits already realized, the Coliseum complex still hopes to receive another $670,000 from the Raiders for luxury boxes the team has not constructed and which are the subject of a lawsuit over breach of contract.

Prospect Clouded

Since the Raiders contributed only about $900,000 in net revenue last season, the Coliseum would have been approximately $100,000 in the black had the team already left for a new stadium in Irwindale, a prospect now clouded by financial difficulties and one that Coliseum officials hope never comes to pass.

The financial reports said advance indications are that the Coliseum may make $1.8 million this year. That will include the Raiders, which have 10 games scheduled in the stadium.

At its regular monthly meeting, meanwhile, the Coliseum Commission approved $2.5 million for refurbishing the Sports Arena. Approved last month was $1.9 million to refurbish toilet facilities at the Coliseum, as well as building some new ones.

Los Angeles County Supervisor Mike Antonovich, the commission chairman, hailed the fiscal turnabout at the facilities, declaring:

“For only the second time in the ‘80s, the Coliseum and Sports Arena are jointly making a solid profit. Reasons for the turnaround are many, but the staff is to be congratulated for bringing many new events to both facilities.”

Officials said the complex’s new general manager, Joel Ralph, was instrumental in acquiring the events, which included 17 rock concerts in the Sports Arena and three in the Coliseum. Among major names appearing were Bruce Springsteen, U2, Pink Floyd and David Bowie.

Altogether, there were 241 events last year at the facilities and total attendance was 2,667,197. Gross ticket sales totaled $8,554,007, an all-time high.

In addition to the concerts, the Coliseum played host to 11 international soccer matches, drawing nearly 150,000 fans, and it was the site for a Mass by Pope John Paul II that drew 103,854, the fifth largest gathering in the stadium’s 65-year history.

The Sports Arena, meanwhile, drew 325,813 people for the Ringling Bros., Barnum & Bailey Circus and Walt Disney’s “World on Ice,” and other crowds for boxing and basketball.