Mining magnate Michael Kiernan is one of the Perth corporate identities signing up for courtside seats at Perth Wildcats basketball games.
Mining magnate Michael Kiernan is one of the Perth corporate identities signing up for courtside seats at Perth Wildcats basketball games.
With about four months to go before the start of the NBL season, the Wildcats claim that an improved profile for the sport and the buoyant economy are creating demand for its corporate packages.
The franchise claims to have sold all eight of its $30,000 super boxes and 20 out of 24 corporate boxes, priced from $11,500 to $22,900 a season, at Challenge Stadium.
It is positive news for the Wildcats, which has struggled financially, surviving in recent times thanks to businessman Jack Bendat’s arrival as the major shareholder.
The club’s fortunes were further revived last month by a key three-year sponsorship deal.
It competes in a fierce sports sponsorship market, and is a minnow against the major drawcards of The Western Force, The West Coast Eagles and the Fremantle Football Club, which claimed earlier this year to all have businesses on waiting lists ready to pounce should a box become available.
Football and rugby boxes cost businesses anywhere from $8,000 for a basic four-seat box to up to $88,000 for a 28-seat suite box for the season. That figure does not include food and beverages.
WA Business News has previously reported that the West Coast Eagles has 234 corporate boxes, Fremantle Football Club has 59 corporate suites and 186 VIP boxes, and RugbyWA marketing had 270 box, suite and function room packages.
Wildcats CEO Nick Marvin said the club had increased its prices by up to 15 per cent on some packages and had to start a waiting list for the popular super boxes.
Mr Marvin puts the current demand for corporate seating at the basketball down to a combination of the sport’s rising profile and the affluence of WA business punters, who are seeking ways to entertain clients and boost their company profile through branding.
The club has also tapped in to the growing business networking market with the launch of its corporate circle membership.
Recent signings to the network include former Consolidated Minerals chief Michael Kiernan and executives from Westrac, Australian Air Express and Jardine Lloyd Thompson.
As a sign of how far the Wildcats’ stocks have recovered, Perth-based property developer Saville Australia signed a three-year, $1 million deal last month, with a two-year option, for naming rights to the club.
The Wildcats went without a naming rights sponsor in the 2006-07 season and still made the NBL finals for its 21st successive year.
Mr Marvin said securing the sponsorship deal was the club’s main aim this year, and the successful result was reward for Mr Bendat’s decision to back the club.
Mr Bendat took a 70 per cent share of the club’s parent company in 2006 and recently bought out managing director Andrew Vlahov.
This sponsorship deal, coupled with corporate box sales, could put the four-time NBL champs on track to reach a turnover of $3.5 million this year, and hopefully its first profit in recent years.
Mr Marvin said he expected the club to exceed Challenge Stadium’s 4,220-seat capacity in memberships next year.
