The cost estimated for the
construction of the stadium will be $12.7 Million US
Corozal Pride Foundation
Non-Profit
501 c3 Entity # C3834667
EIN ID #
47-5249589
JPMorgan Chase Bank
Rounting # 322271627
Acount #
777903779
1725 Ocean
Ave Suite 226
#3, 7th Avenue
Santa
Monica CA 90401
Corozal Town
Frederick
Flowers
Belize Central America
323-304-2861
fred@corozalpridefoundation.org
Executive
summary
Building
With Your Help A
FIFA
Standard International Soccer Stadium In Belize Central America
Corozal Pride Foundation, is a new
non-profit corporation located in USA and Belize Central America. The company,
mission is to sponsor charitable activities in the country of Belize. To
accomplish this task, we solicit funds from counties throughout the world from
governments to corporations and even the private sector. We are the liaison
with the respective governments in Belize to initiate this charitable project.
The strength of our organization is measured by its contribution to society.
Corozal Prides Foundation goal is to improve the welfare of citizens in the
country of Belize, most of who live in abject poverty. The primary source of
the company’s funds is contributions made by governments, corporations and
individuals throughout the world. Grants collected from these services are core
in enabling the organization to meet its obligations.
Today
we come to you asking your help financially. We are not asking for money
upfront but a commitment letter stating the amount you are willing to grant us,
this will allow us to work on this project in a timely manner. By knowing who
is committed and the amount we can focus on setting up office, start the hiring
process, set up accounts with the different raw material companies, and
coordinate with locals and international supplies.
Like most third world countries,
Belize is faced with the challenge of poorly equipped and inadequate stadiums a scenario which has had several
social and economic drawbacks to the country. Our goal is to build a small but International FIFA Soccer Stadium in
Corozal Town Belize. The plan is to
build a FIFA standard Stadium, 10,000 seat capacity. Despite, the fact that most of the youths in
the country are highly talented in sports such as soccer; the available
stadiums are not enough for them to exploit their talents fully. Consequently,
most of the talents have been wasted or inadequately exploited. Instead, due to
idleness and high unemployment levels, most of the youths have resulted to
immoral behaviors such a drug abuse. Therefore, by enabling Corozal Pride
Foundation to raise funds to construct a modern stadium in Belize, most of this
social and economic challenges mentioned above will be controlled to a large
extent. Further, the stadium will
provide shelter to the citizens during calamities such as hurricanes which the
country is prone to due to its geographical position.
Company Description
Corozal Pride Foundation Company is
a new corporation located in USA and Belize. Despite the company being a
non-profit making organization, it has been able to sponsor several small
sporting activities in the US and Belize. This has lead the company to win the
trust of more sponsors both locally and internationally. For the past year, the
company in collaboration with the government of Belize in finding land to
construct the new stadium on, we now have a site to build on. Indeed, this has
been aligned the mission of Corozal Pride Foundation of improving the welfare
of citizens in country of Belize. One
thing we do ask, and that is to please sponsor Corozal Pride Foundation, leave
all funds and affairs in the hands of the private sector, “Corozal Pride
Foundation”, for we have seen and heard of so many sponsorships from
international to locals trying to help the country going through the
government, yet nothing has been seen or done with the funds. Our goal is
to build and manage the daily operation of the stadium. The foundation for the
success of Corozal Pride Foundation, will be to take one project from start to
finish.
Market
Analysis
The
market for Corozal Pride Foundation has been significantly good. Our goal is to employ over 1500 part time workers
during the construction of the stadium and to keep as many part time workers on
during the day to day operations. Another goal behind building the stadium
is that we can use the stadium to generate funds to support its employees
during operation by having concerts and other sporting events. At this time we
are in touch with locals and
international music artists as well as marketing the stadium to off season
America football training camps, something the country has never seen live.
This will help us to generate more funds to build other fun family activities
like a water park, golf course, shopping center, bowling alley, skating rink
and even a movie theater. The town of Corozal can use all these family fun
activities. Can you believe that in this modern world we live today we do not
have any of these facilities in Corozal Town, Belize. By constructing a modern
and well equipped stadium most of the youths will have a chance to expose their
talents. Sports in modern days are being used as a source of employment which
attracts good pay. Therefore, by having youths and an international male and female soccer organizations identify their talents and use them
effectively, the problem of unemployment which is prevalent in Belize will be
reduced significantly. Finally, sports especially soccer has been used by
authorities as a means of enhancing unity and cohesion among various ethnic groups in the country.
Competitive
Analysis
At this time we have no competitive
analysis, what we could love to have is a modern FIFA stadium, this way we can
compete and host local and international soccer games. This will help our
economy, lower unemployment and give many the opportunity to have a source of income.
We will be able to host other events like North America, Central America and
the Caribbean track and field and list goes on.
Design and
Development Plan
The proposed stadium to be
constructed in Corozal Town Belize will have a sitting capacity of 10000 seats.
Notably, seats close to the field will be many and will contain luxury boxes.
This is aimed to increase revenues collected from the stadium as majority of
the fans prefer seats close to the field. Besides, the stadium will have the
conspicuous and attractive concession area which will be targeted to increase
the revenue collected from the stadium by catering for the affluent fans.
Further, club cafeteria will be constructed to serve various meals to players
and attending fans. Changing rooms will be constructed and fully equipped. For
the fans and players owning cars spacious parking areas will be constructed to
cater for their parking space needs. Finally, CCTV cameras will be installed in
various points of the stadium to enhance security.
The table below shows the activity
and estimated time of completion of tasks of the project.
|
Activity
|
Projected Completion Time
|
|
Clearing
land
|
2
months
|
|
Construction
of parking space
|
6
months
|
|
Construction and equipping it
|
13
months
|
|
Installation
of seats
|
2
months
|
|
Installation
of CCTV
|
2
months
|
|
Construction
and equipping of changing rooms
|
6
months
|
|
Total
estimated time
|
2
Year and 7 Months
|
Operations
and Management
(Porterfield, 2012) hold that, proper management and
coordination of any project is a recipe for success of any capital intensive
project. Based on Porterfield argument, the following will be the key officers
during the construction of the stadium. First, the project manager will be
mandated to coordinate and control all activities during the construction of
the stadium. He will be conducting routine appraisal of the project to
determine how well it is aligned to the predetermined objectives. He will be
able to accomplish this task by liaising with other officers during the design
and actual construction of the stadium. Secondly, the financial manager will be
mandated to coordinate with other officers and ensure that funds for the
project are prudently used. The financial officer will be in charge of
accounting for all expenditures of the company. On the other hand, the chief
civil engineer and the projects architecture will be responsible in ensuring
that the stadium is constructed in accordance to the required standards of FIFA
and world Cup Stadiums. The I.T specialist will be responsible for installing
and troubleshooting all I.T equipment in the stadium such as CCTV cameras.
Finally, the legal officer will be mandated to ensure the required local laws
are complied with during the construction and running of the stadium after its
completion. This will help avoid any legal suites which may derail the
completion and delivery of the project as per the set time.
Financial Factors Cash outflow
The cost estimated for the
construction of the stadium will be $12.7 Million US. This cost
will include the total cost and bounding cost. The cost of acquiring a site for
constructing the stadium is $500,000. The
organization Corozal Pride Foundation is not going to contract out the
construction work, but the entire
work will be done by locals and international experts hired as employees.
This is based on the fact that labor cost in Belize is cheap and available. The
estimated labor cost will be $3,000,000. Construction of the stadium will be
$7,600,000. In order to reduce the cost
of equipping the stadium, seats and other amenities will be imported from the
neighboring country of Mexico since their cost is significantly low in Mexico.
To enhance security in the stadium, CCTV cameras will be installed at a cost of
$200,000, cost for constructing a parking site will be$1,300,000,
architectural, blue prints $100,000, leaving a balance of $500,000 for
miscellaneous, travel, government fees, marketing and advertising.
Expected
cash inflow
Revenue
stream is estimated to be $300,000 per year. This will be achieved from naming
rights, advertising and concession. The luxury suits constructed in the stadium
will be attracting some income for the locals estimated to be to around
$200,000. Further, ticketing revenues estimated to be $520,000.Finally,
revenues from parking is $150,000. This is not the total estimated income for
the years, we are estimating an addition $600,000 for concerts and other
events.
The
table summarizes estimated costs of constructing the stadium and the annual
cash inflow after its completion.
|
Activity
|
Capital Outlay
|
|
Estimated Cash Inflow
per year
|
|
|
Cash outlay
|
$12.7M
|
Cash in stream
|
$ 300,000
|
|
|
Site for construction
of the stadium
|
$7,600,000
|
Luxury suites
|
$ 200,000
|
|
|
Labor
|
$3,000,000
|
Ticketing Revenues
|
$520,000
|
|
|
CCTV Cameras
|
$200,000
|
Concession
|
$190,000
|
|
|
Parking
Architectural
Concerts / Events
|
$1,3000,000
$100,000
|
|
$150,000
$600,000
|
|
|
Miscel
|
$500,000
|
|
|
|
|
TOTAL
|
$12.7M US
|
|
$1,960,000 BZE
|
|
References
Culley, P.,
& Pascoe, J. Stadium engineering.
Gotham, K.
(2011). Public Dollars, Private Stadiums: The Battle over Building Sports
Stadiums by Kevin J. Delaney and Rick Eckstein:Public Dollars, Private
Stadiums: The Battle over Building Sports Stadiums. American Journal Of Sociology, 111(3),
958-959. doi:10.1086/500781
Llorella, A.
(2006). Stadium design. Köln: Daab.
Porterfield,
J. (2012). Investment decisions and
capital costs. Engelwood Cliffs, N.J.: Prentice-Hall.
Riahi-Belkaoui,
A. (2012). Evaluating capital projects.
Westport, Conn.: Quorum Books.
Veeraraghavan,
S., & Vaidyanathan, R. (2011). Measuring Seat Value in Stadiums and
Theaters. Production And Operations
Management, 21(1), 49-68.
doi:10.1111/j.1937-5956.2011.01249.x
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