The Madison Group, ltd.
MICHAEL S. THIESSEN
Mike Thiessen, a sports and entertainment, finance and facility specialist, formed The Madison Group, Ltd. to serve the sports, meeting and entertainment industries. Services include financial structuring and placement, strategic planning and oversight, transactional representation and project management. Thiessen has provided services for this market’s project development needs including feasibility studies, market research, financial analysis, alternative financing structures, naming rights agreements and strategic planning. The Madison Group represents both public and private sector clients at all levels.
Representative Experience
Thiessen’s professional business management experience includes convention, sports and entertainment project development, financing and management. His background also includes extensive work within the political system including campaign management and congressional staff experience. Thiessen was recently an investment banker at a well-known, Chicago-based financial firm where he specialized in the financing of public/private partnerships and economic development projects.
Currently, Thiessen is serving as a consultant to the owners of the Round Rock Express in their development of a Double A baseball stadium in Corpus Christi, Texas. This is Thiessen’s second engagement/project for this ownership group, the first being the development of the Dell Diamond in Round Rock, Texas. This new project is scheduled to open for the 2005 baseball season and will serve as an additional economic anchor in downtown Corpus Christi.
Thiessen is also working on behalf of the Village of Lisle, Illinois, who with Benedictine University, is jointly developing a community based sports facility. The proposed facility will include a lighted football stadium, track and baseball stadium which will serve as the home fields for Benedictine and local high schools.
The Kansas City T-Bones opened a new minor league baseball stadium in June 2003 due to the efforts of Thiessen on behalf of the team’s owner. Thiessen’s work included securing a record naming rights agreement and overseeing the design, construction and opening day staff selection in a nine (9) month period. The stadium will be located adjacent to Kansas Speedway, a NASCAR track, as well as a 500,000 sq. ft shopping mall. Funding for the project includes public committed land and bonds which are solely supported by the sales tax generated by the overall development in the area.
The 2002 baseball season welcomed two new stadiums, Brockton Massachusetts and Joliet, Illinois, in which Thiessen served as a key advisor to both projects. Thiessen served as the development advisor to the Brockton 21st Century Corporation, the economic development arm of the City of Brockton, Massachusetts. This $17 million project includes a 5,000-seat baseball stadium and 14,000 square-foot conference and meeting center. Thiessen’s responsibilities included negotiating the lease/operating agreement between the team and the facility’s owner; preparing all financial models related to operations, project finance and initial debt service projections; and coordinating the initial phases of design and construction.
In addition to Brockton, Thiessen acted as the development advisor to Joliet’s Professional Baseball Team, LLC on the development of a new $20.5 million multi-purpose facility to be the home of a Northern League baseball team. His responsibilities included securing a team to relocate to the facility, negotiating a lease, projecting cash flows to serve as the basis for a revenue-supported financing plan, and overseeing all aspects of the stadium’s development. Thiessen’s involvement included the solicitation and selection of a concession provider and key staff members including the General Manager.
As development advisor to the Iowa West Foundation, Thiessen provided services related to the development of an Arena/Convention Center Complex which will serve as the home of a minor league hockey franchise. This facility will serve as an economic development tool, as the area currently has limited meeting or family entertainment venues. The project is a complex public-private partnership which includes funding from the State of Iowa, City of Council Bluffs, Iowa West Foundation and owners of local riverboat casinos.
The 2001 baseball season marked the opening of Haymarket Park in Lincoln, Nebraska. This facility represents a joint venture between the City of Lincoln, the University of Nebraska and NEBCO, a leading privately-held company in Lincoln. Thiessen served as NEBCO’s consultant on the project, which included acquiring a Northern League franchise, developing a financing and development plan, and aiding in operational design. Thiessen also oversaw initial team operations, key staff recruitment, major sponsorship packages, solicitation, and negotiation of a concessionaire and corresponding agreement.
In 2000, Thiessen completed a financing and development plan for the Dell Diamond, home of the Round Rock Express, in Round Rock, Texas. During its inaugural season, the Round Rock Express and Dell Diamond broke all Double A and Texas League attendance records. Serving as a personal advisor to Hall of Fame pitcher Nolan Ryan and his ownership group, Thiessen provided oversight on all aspects of project development including design and construction, procuring a naming rights agreement with Dell Corporation, and developing a financing plan that utilized both existing hotel/motel tax collections and a long-term operational agreement with the team. In addition to the stadium, the project included a conference center complete with a full catering kitchen. This facility represents the single largest meeting facility in Williamson County.
In 1999, Alexian Field in Schaumburg, Illinois celebrated its inaugural season. As development advisor to the Schaumburg Flyers, a Northern League baseball team, Thiessen aided the team’s ownership in site selection and lease negotiation. Additionally, he recruited and secured several equity investors for the project. The Flyers qualified for post-season play during their inaugural season and have sold more than 5,000 tickets per game since Opening Day 1999.
Other sports consulting assignments include:
¨ market and competitive analysis related to a new performance/activity center for Foxwoods Casino and Resort, Mashantucket, Connecticut;
¨ development assessment for the County of Palm Beach, Florida on a $45 million, 10,000-seat arena;
¨ examination for possible purchase of an NBA franchise and corresponding arena which included researching the most recent franchise sales and projecting operational cash flows, taking into account media contracts and expansion fee growth;
¨ financial feasibility and luxury seat revenue projections for the $50 million, 15,000-seat Bi-Lo Center in Greenville, South Carolina;
¨ financial projections and negotiations support for the $160 million, 78,200-seat Washington Redskins Stadium, now FedEx Field;
¨ financial projections for a proposed $440 million, 72,000-seat multi-purpose domed facility that is under consideration as a possible home for the Chicago Bears; and
¨ expert review of the Houlihan’s Stadium’s Naming Rights Agreement with the Tampa Bay Buccaneers.
In addition to sports facility expertise, Thiessen has served clients in the meetings industry. This experience includes:
¨ providing analysis for a residential conference center at Southwest Texas State University;
¨ an expansion study for the Austin Convention Center including a renovated performing arts center;
¨ a mixed-used development including a convention center in Branson, Missouri;
¨ a convention center in Kuala Lumpur, Malaysia;
¨ strategic analysis of the meetings market for the Country of Thailand; and
¨ an operational review for the Tucson Convention Center that resulted in an annual savings of $750,000 for the City of Tucson.
Additional qualifications
Thiessen has spoken at such industry-related events as the U.S. Conference of Mayor’s Annual Meeting; Council on Urban and Economic Development; International Association of Auditorium Managers; Mayor’s Conference on Franchise Relocation; and International City and County Management Association. He also has been an information source and quoted in numerous publications including the Orange County Register, Crain’s, The Chicago Sun Times and Governing.
Education
Master of Management, finance and marketing, Atkinson Graduate School of Management, Willamette University, Salem, Oregon
Bachelor of Science, economics and political science, Willamette University, Salem, Oregon