Rochester, NY. Business. Politics. Sports.

Saturday, April 05, 2008

The Resurgence of the Rochester Rhinos and PAETEC Park?

The Rochester Sport Group's financial issues have been a popular story here in Rochester. Due to a $10 million loan that the ownership team took on for PAETEC Park, they've found themselves overleveraged. That issue caused the organization to fall behind on its obligations which ultimately put the 2008 soccer season in jeopardy. Thankfully, an individual tied to one of the banks that provided the loan, Rob Clark, had an interest in running a sports team and decided to purchase the team and stadium.

This is exciting for two reasons. First off, the team has been plagued by a lack of marketing thanks to a cash-poor organization. Suddenly, that burden has been removed. Within the first week, the new owner fired an unpopular coach, signed a popular former player to coach the team, signed an international player to also assistant coach, and began working to replace a food vendor that many complained about with a local vendor. Even further, $4 million in state funding to complete the stadium was being held up due to the team's financial issues. That's being released and the stadium will be "completed" for 2009.

This has led to a surge in season ticket sales. They're already above 3,000, so they should top last year's number despite the majority of the off-season being mired in controversy. And, perhaps more importantly, the stadium will be finished, which will give it the opportunity to live up to its full potential. There's a buzz about the Rochester Rhinos and soccer in general again, and that's certainly a breath of fresh air.

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