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NFR to stay in Vegas until at least 2014

By JEFF WOLF
REVIEW-JOURNAL

Officials from Las Vegas Events and the Professional Rodeo Cowboys Association announced Friday they have reached an agreement on a five-year contract extension that will keep the National Finals Rodeo in Las Vegas at least through 2014.

The announcement came one week before the world's richest rodeo begins for the 21st year at the Thomas & Mack Center. Last year's 10-day event drew a total sold-out crowd of 176,575, only 50 spectators less than the record set the previous year.

The fifth extension of the contract since the rodeo moved from Oklahoma City to Las Vegas in 1985 provides elements that please the PRCA and LVE.

LVE will get a new starting date that many hotels have desired. Beginning in 2006, the NFR will begin on a Thursday night and end nine days later on a Saturday night, hence starting and closing a day earlier than before in Las Vegas.

The PRCA, the world's largest rodeo sanctioning organization, will see its stipend from the event, which is run through LVE, grow significantly.

Before the new agreement, the PRCA received about $400,000 from the proceeds of each NFR, but that will jump to a $1 million guarantee starting this year. Also, the Las Vegas Convention and Visitors Authority, which funds the private but not-for-profit LVE through a grant, is expected at a Dec. 13 board meeting to approve paying an additional $1 million annually to the rodeo group in sponsorship and promotional fees.

"We are very excited about the extension of the NFR contract to 2014," said Rossi Ralenkotter, chief executive and president of the LVCVA.

In the prepared statement, Ralenkotter added, "This tremendous partnership, which has become one of the greatest success stories in sports and destination marketing, will continue to grow and position Las Vegas as the event capital of the world."

LVE will continue to guarantee the event purse and all expenses for staging the NFR, and this year's purse of $5.25 million will escalate each year until reaching $6.375 million in 2014.

The prize fund for the 120 contestants in eight rodeo categories also got a big boost. And rodeo athletes who have qualified for this year's 120 spots in the NFR will get an early holiday present.

Beginning this year, the guarantee paid to each NFR contestant goes from $6,197 under the previous contract to $10,000, though that is counted against a contestant's NFR earnings. In 2014, the guarantee grows to $14,500.

"They came to the table and offered us what we're worth in my view, and they were very good about that," PRCA commissioner Troy Ellerman said.

"That's a $1.6 million raise, and that's not too bad."

Ellerman said Bill McBeath, chairman of the LVE board, and Michael Gaughan, a board member, "were instrumental in getting this done."

"You can talk about wanting to do the right thing, you can talk about trying to do the right thing, and what counts is doing the right thing," Ellerman said in a telephone interview Friday while driving to Las Vegas for the NFR.

"It's good for all of us. We're here for another 10 years."

LVE president Pat Christenson said the increase in fees to be paid to the PRCA and its athletes is a byproduct of the event's success, which last year produced a nongaming economic impact of about $39 million to Southern Nevada.

"What has been so gratifying for the NFR has been our ability to pass on a better deal to the PRCA as a direct result of our success of bringing people to town and selling tickets to the rodeo," Christenson said. "By virtue of the success of the event, we are passing on those benefits.

"(The PRCA's) ability to maintain top-level competitors is incumbent upon the continued success of this rodeo."

<blockquote data-quote="Anonymous" data-source="post: 58840">NFR to stay in Vegas until at least 2014 By JEFF WOLF REVIEW-JOURNAL &nbsp;Officials from Las Vegas Events and the Professional Rodeo Cowboys Association announced Friday they have reached an agreement on a five-year contract extension that will keep the National Finals Rodeo in Las Vegas at least through 2014. &nbsp;The announcement came one week before the world&#039;s richest rodeo begins for the 21st year at the Thomas &amp; Mack Center. Last year&#039;s 10-day event drew a total sold-out crowd of 176,575, only 50 spectators less than the record set the previous year. The fifth extension of the contract since the rodeo moved from Oklahoma City to Las Vegas in 1985 provides elements that please the PRCA and LVE.LVE will get a new starting date that many hotels have desired. Beginning in 2006, the NFR will begin on a Thursday night and end nine days later on a Saturday night, hence starting and closing a day earlier than before in Las Vegas.The PRCA, the world&#039;s largest rodeo sanctioning organization, will see its stipend from the event, which is run through LVE, grow significantly.Before the new agreement, the PRCA received about $400,000 from the proceeds of each NFR, but that will jump to a $1 million guarantee starting this year. Also, the Las Vegas Convention and Visitors Authority, which funds the private but not-for-profit LVE through a grant, is expected at a Dec. 13 board meeting to approve paying an additional $1 million annually to the rodeo group in sponsorship and promotional fees.&quot;We are very excited about the extension of the NFR contract to 2014,&quot; said Rossi Ralenkotter, chief executive and president of the LVCVA.In the prepared statement, Ralenkotter added, &quot;This tremendous partnership, which has become one of the greatest success stories in sports and destination marketing, will continue to grow and position Las Vegas as the event capital of the world.&quot;LVE will continue to guarantee the event purse and all expenses for staging the NFR, and this year&#039;s purse of $5.25 million will escalate each year until reaching $6.375 million in 2014.The prize fund for the 120 contestants in eight rodeo categories also got a big boost. And rodeo athletes who have qualified for this year&#039;s 120 spots in the NFR will get an early holiday present.Beginning this year, the guarantee paid to each NFR contestant goes from $6,197 under the previous contract to $10,000, though that is counted against a contestant&#039;s NFR earnings. In 2014, the guarantee grows to $14,500.&quot;They came to the table and offered us what we&#039;re worth in my view, and they were very good about that,&quot; PRCA commissioner Troy Ellerman said.&quot;That&#039;s a $1.6 million raise, and that&#039;s not too bad.&quot;Ellerman said Bill McBeath, chairman of the LVE board, and Michael Gaughan, a board member, &quot;were instrumental in getting this done.&quot;&quot;You can talk about wanting to do the right thing, you can talk about trying to do the right thing, and what counts is doing the right thing,&quot; Ellerman said in a telephone interview Friday while driving to Las Vegas for the NFR.&quot;It&#039;s good for all of us. We&#039;re here for another 10 years.&quot;LVE president Pat Christenson said the increase in fees to be paid to the PRCA and its athletes is a byproduct of the event&#039;s success, which last year produced a nongaming economic impact of about $39 million to Southern Nevada.&quot;What has been so gratifying for the NFR has been our ability to pass on a better deal to the PRCA as a direct result of our success of bringing people to town and selling tickets to the rodeo,&quot; Christenson said. &quot;By virtue of the success of the event, we are passing on those benefits.&quot;(The PRCA&#039;s) ability to maintain top-level competitors is incumbent upon the continued success of this rodeo.&quot;</blockquote>

[QUOTE="Anonymous, post: 58840"] NFR to stay in Vegas until at least 2014 By JEFF WOLF REVIEW-JOURNAL Officials from Las Vegas Events and the Professional Rodeo Cowboys Association announced Friday they have reached an agreement on a five-year contract extension that will keep the National Finals Rodeo in Las Vegas at least through 2014. The announcement came one week before the world's richest rodeo begins for the 21st year at the Thomas & Mack Center. Last year's 10-day event drew a total sold-out crowd of 176,575, only 50 spectators less than the record set the previous year. The fifth extension of the contract since the rodeo moved from Oklahoma City to Las Vegas in 1985 provides elements that please the PRCA and LVE. LVE will get a new starting date that many hotels have desired. Beginning in 2006, the NFR will begin on a Thursday night and end nine days later on a Saturday night, hence starting and closing a day earlier than before in Las Vegas. The PRCA, the world's largest rodeo sanctioning organization, will see its stipend from the event, which is run through LVE, grow significantly. Before the new agreement, the PRCA received about $400,000 from the proceeds of each NFR, but that will jump to a $1 million guarantee starting this year. Also, the Las Vegas Convention and Visitors Authority, which funds the private but not-for-profit LVE through a grant, is expected at a Dec. 13 board meeting to approve paying an additional $1 million annually to the rodeo group in sponsorship and promotional fees. "We are very excited about the extension of the NFR contract to 2014," said Rossi Ralenkotter, chief executive and president of the LVCVA. In the prepared statement, Ralenkotter added, "This tremendous partnership, which has become one of the greatest success stories in sports and destination marketing, will continue to grow and position Las Vegas as the event capital of the world." LVE will continue to guarantee the event purse and all expenses for staging the NFR, and this year's purse of $5.25 million will escalate each year until reaching $6.375 million in 2014. The prize fund for the 120 contestants in eight rodeo categories also got a big boost. And rodeo athletes who have qualified for this year's 120 spots in the NFR will get an early holiday present. Beginning this year, the guarantee paid to each NFR contestant goes from $6,197 under the previous contract to $10,000, though that is counted against a contestant's NFR earnings. In 2014, the guarantee grows to $14,500. "They came to the table and offered us what we're worth in my view, and they were very good about that," PRCA commissioner Troy Ellerman said. "That's a $1.6 million raise, and that's not too bad." Ellerman said Bill McBeath, chairman of the LVE board, and Michael Gaughan, a board member, "were instrumental in getting this done." "You can talk about wanting to do the right thing, you can talk about trying to do the right thing, and what counts is doing the right thing," Ellerman said in a telephone interview Friday while driving to Las Vegas for the NFR. "It's good for all of us. We're here for another 10 years." LVE president Pat Christenson said the increase in fees to be paid to the PRCA and its athletes is a byproduct of the event's success, which last year produced a nongaming economic impact of about $39 million to Southern Nevada. "What has been so gratifying for the NFR has been our ability to pass on a better deal to the PRCA as a direct result of our success of bringing people to town and selling tickets to the rodeo," Christenson said. "By virtue of the success of the event, we are passing on those benefits. "(The PRCA's) ability to maintain top-level competitors is incumbent upon the continued success of this rodeo." [/QUOTE]

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