NEW YORK —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.
An executive of Stamford, Conn.-based Centerplate said a renewal of the contract, which provided the company with nearly 10 percent of its revenue last year, was still under discussion and that nothing had yet been decided. —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.
However, an industry insider, who requested anonymity because of business dealings with parties involved in the matter, said the Yankees plan to shift to self-op foodservice under a different corporate entity when the new stadium debuts at Macomb Dam Park in the Bronx. The site is adjacent to the current stadium, which was built in 1923. —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.
At least one other concessionaire that bid on the new ballpark’s foodservice contract gave the same indication about the Yankees’ plans, which reportedly include quick-service outlets of noted New York City foodservice landmarks. —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.
The new ballpark, which is expected to cost nearly $1 billion to build, will have fewer seats than the current Yankee Stadium, but will house 60 luxury suites, three outdoor suites, eight party suites, a variety of restaurants, larger concourses and entertainment areas. —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.
Yankee Stadium officials confirmed that a contract decision was still under discussion, but offered no further comment. —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.
Centerplate’s corporate vice president of marketing, Bob Pascal, would say only, “No formal announcement has been made in regards to the food-and-beverage service provider for the new Yankee Stadium.” —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.
He declined to discuss assertions that the Yankees intend to switch to self-op foodservice. —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.
According to the insider source: “My understanding is nothing is finalized, but that is the talk—that Centerplate will not continue once the new stadium opens.” —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.
However, the veteran contract executive said the Yankees were not displeased with Centerplate’s performance in any way. —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.
“It is not due to any unhappiness with Centerplate,” the source said. “In fact, you will probably see many of their employees staying on with the new company.” —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.
Centerplate’s 2006 annual report indicated the Yankees contract accounted for 9.6 percent of the concessionaire’s net sales last year, and the team was its largest client. —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.
The company last month posted a $2.2 million profit for the second quarter ended July 3, mainly on a tax benefit, versus a year-earlier loss of $100,000. However, for the first half of fiscal 2007 Centerplate still was in the red, with a six-month net loss of $5.8 million, compared with a loss of $5.7 million for the first half of 2006. —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.
The company blamed lower operating income, higher interest expense because of increased borrowing and higher interest rates. —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.
Revenues for the second quarter rose 5.3 percent from a year earlier to $200.8 million and were up 7.2 percent for the six months to $326.2 million. The company said sales at its Major League Baseball accounts generated an additional $4.5 million for the quarter as a result of higher attendance levels and per-capita spending at the ballparks. —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.
Upgraded food offerings in new facilities also are being planned for 2009 by New York’s other major-league team, the Mets. The Mets that year are scheduled to move to Citi Field, a 45,000-seat ballpark in Flushing, N.Y., near the team’s current Shea Stadium home park. Citi Field also will feature luxury suites, clubs and a specialty restaurant, to be operated by Philadelphia-based contractor Aramark Corp. under a 30-year pact signed in June. —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.
A spokeswoman for renowned New York restaurateur Danny Meyer’s Union Square Hospitality Group disputed reports that the company would license an outpost of its popular Shake Shack burger concept at Citi Field when it opens. —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.
“We think it’s a great idea and would love to do it,” she said, but noted there currently is no deal between Meyer, Aramark or the Mets to open a restaurant at the new ballpark. —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.
Aramark also denied a deal had been struck with Meyer’s company. —Sports and entertainment foodservice specialist Centerplate Inc., which posted a net loss of $5.8 million for the first half of the year, is said to also be at risk of losing its lucrative, 40-year-old contract for Yankee Stadium when the ballpark is relocated next door in 2009.