SUBJECT
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Approve a ten-year Sponsorship and Host Agreement with RussMatt LLC beginning in FY 23/24 through FY 32/33. ($2,093,000.00 estimated expense over ten years)
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DESCRIPTION
Polk County Tourism and Sports Marketing (PCTSM) recruits, partners, and manages special events to enhance the economic climate of Polk County. The attached agreement is PCTSM partnering with RussMatt LLC to act as a “Host” for ten (10) annual baseball events, each lasting 9 weeks taking place in Polk County during FY 23/24 through FY 32/33. PCTSM will pay for all facility costs and for national marketing expenses which are based on each out of county team per competition day with the annual maximums as estimated below.
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|
FY 23/24 |
FY 24/25 |
FY 25/26 |
FY 26/27 |
FY 27/28 |
|
Facility Cost (Estimated) |
$136,000 |
$136,000 |
$139,000 |
$142,000 |
$145,000 |
|
Not to Exceed Marketing Expenses |
$40,000 |
$45,000 |
$50,000 |
$55,000 |
$60,000 |
|
Total Estimated Expense |
$176,000 |
$181,000 |
$189,000 |
$197,000 |
$205,000 |
|
|
FY 28/29 |
FY 29/30 |
FY 30/31 |
FY 31/32 |
FY 32/33 |
|
Facility Cost (Estimated) |
$148,000 |
$151,000 |
$154,000 |
$157,000 |
$160,000 |
|
Not to Exceed Marketing Expenses |
$65,000 |
$70,000 |
$75,000 |
$80,000 |
$85,000 |
|
Total Estimated Expense |
$213,000 |
$221,000 |
$229,000 |
$237,000 |
$245,000 |
10-year total facility cost (estimated) $1,468,000
10-year not to exceed promotional expenses $625,000
Total 10-year investment (estimated) $2,093,000
An estimated economic impact of over $435 million will be generated by hosting these events in Polk County. RussMatt is “The World’s Largest Collegieate Baseball Event” and is larger than all other events of its kind, combined! RussMatt’s annual spring training has brought hundreds of thousands of visitors to Polk County throughout its 15 years here. The initial economic impact for this event does not include the added repeat visitation by the participants and fans that continue to travel here, making this event even more impactful.
RECOMMENDATION
Request Board approve the ten-year Sponsorship and Host Agreement with RussMatt LLC.
FISCAL IMPACT
Funds are available in the Tourism Tax Fund for FY 23/24 and will be included as part of the budget process for each additional Fiscal Year.
CONTACT INFORMATION
Neal Duncan
Senior Sales & Events Manager
Tourism & Sports Marketing
863-344-2313
Neal@vcfsports.com