The Mid-South Coliseum Group (“TBF”)


The Mid-South Coliseum Group (“TBF”)
The Mid-South Coliseum Group
The Rebirth of the
Mid-South Coliseum & Fairgrounds
(Southwest Section I)
Prepared By: The DSG Commercial Group,
A Subsidiary of The DSG Group, A Series LLC Co.
1661 International Drive, Suite 400
Memphis, TN 38120
T.: (901) 818 – 3149 / W.:
The Rebirth of Mid-South Coliseum
The History of Mid-South Coliseum
The Mid-South Coliseum located at 996 Maxwell Blvd. Memphis, TN
38104, was built in 1963 and designed by architects Merrill G. Ehrman
of Furbringer & Ehrman and Robert Lee Hall of Robert Lee Hall &
The history of the Mid-South Coliseum is rich and certainly legendary.
It is said to be one of the first integrated entertainment facility in the
United States with the opening of The Soul Man, James Brown on
August 24th, 1968. Additionally, the venue has hosted acts from the
great Elvis Presley, from Celine Dion to the late great soulful, Whitney
Houston, to the legendary Beatles and many more.
Placed on the National Register of Historic Places in Memphis, TN on
December 6, 2000, this Landmark continues to draw visitors and fans
even unto this day, -even while closed. Therefore, using the facility for
its’ intended purpose and legacy is essential to maintaining its’ epic
landmark status and its’ memorial appeal.
The Revitalized Entrance
The Mid-South Coliseum Group
Management Team (TBF)
Debbie Hylander,
Independent CPA
Bob Turner, COO &
Licensed TN Commercial Real Estate
To Be Hired,
Chief Marketing
Brian L. Saulsberry
CEO & Chairman
Terry Hughes, CIO
& Code Specialist
Mid-South Coliseum Group
Executive Team Bio
Brian L. Saulsberry, Chief Executive Officer & Chairman. Mr. Saulsberry is the CEO & Chairman of DSG Commercial Group &
Chairman of DSG Capital Group, a private equity group based in NY, NY. Mr. Saulsberry is responsible for the redevelopment of
National Properties, in Memphis, TN & The Old Getwell Gardens, both were a 100 Unit Apartment Home community. In 2003,
the State of TN awarded Mr. Saulsberry, DSG & Harmony Woods, Low Income Tax Credits. Lastly, Mr. Saulsberry was a lead
financier in the M Street redevelopment in Washington, DC; thereby, helping to arrange $600 Million for the development of the
Washington Nationals Baseball stadium. Mr. Saulsberry is a Finance graduate from Howard University & Harvard University
Business School “Summer Venture Management” program.
Bob Turner, Chief Operating Officer & Commercial Real Estate Broker. Mr. Turner is the real estate broker for Southern
Properties, LLC in Cordova, TN. Mr. Turner has right at 40 years of commercial real estate experience and investing. Mr. was
awarded the Pinnacle Award in 2011 for Land Broker of the Year by MAAR Commercial Council. Mr. Turner was the President of
MAAR in 2003 & 2004 & National Board of Governors from 1999 – 2002 & Chairman of RLI National Land Conference in 2013.
Terry Hughes, CBO & CBCO, Chief Investment Officer & Code Specialist. Mr. Hughes served as Code Specialist with Hnedak Bobo
Group, Inc. from 2001 – 2009 and retired from Memphis & Shelby County Building Official in 2001 as Deputy Administrator in
Memphis, TN. Mr. Hughes has over 40 years of building code and design experience. Furthermore, from 2000 – 2002, he served
on the Seismic Project Engineering Panel for the Applied Technology Council &1992 Appointed to serve on the Earthquake Loads
Ad Hoc Committee. Mr. Hughes is an honorary lifetime Member for the Tennessee Building Official Association.
Chief Marketing Officer, To Be Announced. Currently Taking Applications from Firms/Individuals…
Debbie Hylander, Independent CPA. Ms. Hylander has over 25 years of accounting experience with the last 16 years in the public
accounting arena, providing traditional accounting, tax and business consulting services to privately held companies. The scope of
her experience also includes expertise with high net-worth individuals, rental real estate professionals, 754 basis calculations, likekind exchanges, and multi-state taxation. Debbie received her Bachelor's of Business Administration from Christian Brothers
University in Memphis, Tennessee and is a licensed Certified Public Accountant.
The Actual Viewing of Subject Site
Repurposing The Site with Family
Entertainment Facilities & Daily Activities
The Financing Plan
DSG Commercial Group will form The Mid-South Coliseum Group. DSG Private
Equity Group, will fund the renovation costs injunction with selected banking
and/or mezzanine financing source. We have estimated construction costs
from $25 Million USD to $33.5 Million, respectively.
We have identified the project as a prime candidate for New Market Tax Credits
& Historic Tax Credits. We have learned via our legal advisor, Michael
Bradshaw with ButlerSnow, LLP, “that a total of $7 Billion of NMTC will be
coming available this fall”.
Our team has the necessary funding without the credits; however, with the
credits we envision roughly $5 Million in the form of credit participation, -given
we are estimating off of the lower construction value of $25 Million USD.
Projected Budget Cost Breakdown
Construction Cost:
Soft Cost:
Total Costs:
$ 25,000,000.00
$ 2,500,000.00
$ 27,500,000.00
NMTC Incentive:
Historic Credit:
DSG Capital Mezz Loan:
$ 3,750,000.00
$ 1,500,000.00
$ 22,250,000.00
Total Capital Fund:
$ 27,500,000.00
The Conservative Economic Benefit to
The City of Memphis Annualized
Projected Revenues
Coliseum Gross Annual Ticket Sales Only
Excludes Food & Beverages ("CGATS")
(Projected @ 2 Events 3,500 Attendants
$65.00 Median Ticket Price)
Museum Entrance Sales & Souvenir Purchases
(500 Proj. Mthly Participants @ $25 Entrance
Fee & Gift)
Bowling Alley Sales Only
@ $20.00 Couple Rate
(Excluding Food,
Beverage, & Venue
Rental Sales) Proj. 1k
Museum Entrance Sales
& Souvenir Purchases
(500 Proj. Mthly
Participants @ $25
Entrance Fee & Gift)
Gross Spending Sales
Outside of Venue (2.5 X
Total Revenue Gross
Gross Spending Sales Outside of Venue (2.5 X $ 13,650,000.00
TN Sales Tax 9.75%
TN Sales Tax 9.75%
$ 1,901,250.00
Total Sum of Proj. 5 Yr Sales Tax Revenues
$ 15,697,500.00
$ 19,500,000.00
$ 24,174,150.00
$ 22,398,000.00 $ 31,544,700.00
$ 15,697,500.00
$ 24,174,150.00
313,950.00$ 31,544,700.00
$ 2,183,805.00 $ 3,075,608.25
$ 26,591,565.00
$ 8,357,349.00
$ 29,250,721.50
$ 26,591,565.00
$ 34,699,170.00 $ 38,169,087.00
$ 29,250,721.50
$ 34,699,170.00
$ 38,169,087.00
$ 3,383,169.08 $ 3,721,485.98
Total Sum of Proj. 5
$ 1,730,041.95
Yr Rent Payments
Total Sum of Proj. 5 Yr
$ 14,265,318.31
Sales Tax Revenues
$ 14,265,318.31
$ 13,650,000.00
$ 2,183,805.00
$ 7,597,590.00 $ 8,357,349.00
$ 7,597,590.00
$ 1,901,250.00
$ 313,950.00
$ 6,279,000.00 $ 6,906,900.00
$ 6,906,900.00
Rent Payment to City of
$ 19,500,000.00
$ 22,398,000.00
Memphis Coffers &
Community Trusts
Rent Payment to City of Memphis Coffers &
Community Trusts
Coliseum Gross Annual
Ticket Sales Only
$ 5,460,000.00
Excludes Food &
$ 5,460,000.00
$ 6,279,000.00
Beverages ("CGATS")
(Projected @ 2 Events
3,500 Attendants $65.00
Median Ticket Price)
Bowling Alley Sales Only @ $20.00 Couple
Rate (Excluding Food, Beverage, & Venue
Rental Sales) Proj. 1k Attendees
Total Revenue Gross Contribution
$ 3,383,169.08
Total Sum of Proj. 5 Yr Rent
$ 1,730,041.95
$ 3,721,485.98
Independent Example of Concert Revenue Loss
to the Landers Center By Jeff Droke, CPA
DSG Family/Sports Venue Vs. Wiseacre
Brewery Comparison Coliseum Plan
DSG Family & Sports Entertainment Venue
Purpose: Family & Youth Sports Venue
Maintains Landmark Historic Registry Status
(Max Seating 5k; therefore, No Conflict of Interest
with Grizzlies/FedEx Forum
Job Projection: Creates 40 – 60
Internships: 20 High School Summer Internships
College Internship & Jobs: 20 – 40
Rent Credits Paid By City: $0.00
Rent Payments Begin Day One with Ticket Sales
Successfully secured Letter of Commitment
Wiseacre Brewery
Becomes A Beer Manufacturing Facility
The Plant would be roughly 2 yards from
school. Alcohol production is volatile &
Job Projection: Creates 60 – 80 Jobs
Rent Credits Paid By City: $12+ Million
No Proof of Funding Provided
Projected New Sales Tax Revenue over 5 yrs.
$15 Million USD
Projected New Sales Tax Revenue over 5 yrs.
Brings back roughly $30 Million in Concert Ticket
Sales and restores venue back to a mid-size
concert facility for Youth & Family Entertainment
Becomes A Beer Plant Facility
DSG Gross Receipts Percentage Sales Payment
Public/Private Sharing & Public Service Fund Contribution
Fund Category Contribution
Rent Payment Back to City of
Memphis Coffers
Rent Percentage Contributions
1.25 % of Gross Receipts of Coliseum Ticket Sales
City of Memphis Retiree Health Care
Benefit Plan Trust Fund Contribution
2% of Gross Receipts of Coliseum Tickets Sales
City of Memphis Community Trust Fund
1 % of Gross Receipts of Coliseum Ticket Sales
(Community Center & After School Program Fund)
City of Memphis Feed the Hungry
Trust Fund
.50 % of Gross Receipts of Coliseum Ticket Sales
City of Memphis Mental Health
Initiative & Homeless Trust Fund
.25 % of Gross Receipts of Coliseum Ticket Sales
Minority Business Enterprise,
Local Participation & Job Creation
 20 – 40 percent Minority Participation
 20 percent Local Participation
Construction & Soft Costs (Min. 20%)
Memphis Shelby County STEM Project Case Study
Local Restaurateurs & Entrepreneurs Opportunities
Reposition Youth Activities to the Mid-South Fairgrounds Area &
Youth Leadership Initiatives
 Job Creation (10-plus Internships, Part-time & Permanent Jobs)
 Partner with University of Memphis & Local Colleges for a Case
Study analysis project regard marketing and rebranding the
Venue focusing on maintaining its’ historic legacy and purpose
The Youth Social Benefit to
The City of Memphis
Controlled Entrance Access &
Positive Sport Related Entertainment Activities
 Wrestling Activities
 Live Entertainment Venue
 AAU Basketball Conferences
 High School Tournament Playoffs
 High School Graduations & Various Programs
 College Basketball Tournament Opportunities
 Horse Related Tournaments (Western & Equestrian) & More…
The Family & Adult Social Benefit to
The City of Memphis
Employing Green Space with a Purpose…
Liberty Land Entrance Building
Now Museum dedicated to the Coliseum
Pipken Building
Now First-Class Bowling & Family Entertainment Facility
The Mid-South Coliseum Resurrection
“Bring Me Back to Life”
DSG Summary of Benefits for the
Mid-South Coliseum
 Family & Youth Sports for The City of Memphis
 Maintains the Coliseum on the National Historic Registry
 Conservatively adds roughly $15 Million in New Sales Tax Revenue over 5
 Offers The Community a Mid-Size In-door Sporting & Entertainment Venue
for The Greater Mid-South
 Establishes a Trust Fund:
Public Servant Retirees Health Care,
Memphis Community Centers,
City of Memphis Feed the Hungry &
City of Memphis Homeless Trust Fund
The Home of Blues & Rock ‘N’ Roll