The sprawling Arizona Athletic Grounds in Mesa, which has been bleeding cash to the tune of $1 million a month, might just see a financial turnaround under its new ownership. AZ Athletic Associates LLC, which scooped up the 320-acre property from bankruptcy in December, is a joint effort between Mike Burke — the site's new president — and Rocky Mountain Resources. To swiftly stamp out losses, the duo has taken a bullish approach to managing one of the largest sports venues in the nation.
With a diverse array of facilities including a 3,000-seat stadium and a 2,800-seat indoor arena among other athletic courts and fields, the site is a hub for both youth and amateur sports and even occasionally hosts professional events. Mike Burke is confident in the path to profitability, stating, "I think we'll accomplish that this year," according to an interview with the Phoenix Business Journal. With the inclusion of NBA heavyweight Russell Westbrook's influence in operations, Burke's optimism may just be well-founded.
Notably, Legacy Cares, the prior owner of the massive sports complex, found itself in hot water, saddled with a debt exceeding $366 million after failing to pay contractors and struggling to manage lofty loans. However, AZ Athletic Associates managed to purchase the venue for $25.8 million, a portion of which relieved the previous mechanics' liens. It's a new era, and the fresh management, in a statement obtained by ABC15, has emphasized their commitment to making calculated operational changes without the pressures of debt.
The new management has been making significant strides to address operational deficiencies, from rapidly ending contracts with less efficient firms to adding more value for their visitors. Burke mentioned striking hundreds of new deals for future events, bolstering the park's booked schedule for the coming months. This kind of organizational belly-up has to forge a more stable financial future for the complex, which has been frequented by over 40,000 individuals on major event weekends like President's Day, according to insights shared by Burke with the Phoenix Business Journal.
Still grappling with issues like parking and connectivity, the AZ Athletic Associates team has pledged to improve guest experiences with practical upgrades. A noteworthy move is the hiring of a third party to manage parking logistics and an initiative to enhance Wi-Fi reliability. Torrie Miraldi, AAG's director of social engagement, told the Phoenix Business Journal, that they are focusing on creating long-term solutions rather than quick fixes to the diverse range of known issues.
The Arizona Athletic Grounds isn't just setting its sights on sports, with plans to dip into music and special events to diversify its appeal. Miraldi hinted at prospects of programming and events that would cater to family-friendly outings, steering the venue toward a community-centric locale. While sponsorships remain secondary, with the management team seeking to first "button up" operations, there's anticipation for what's to come, with the park already generating substantial forward momentum in the sports and entertainment sectors.
