Arturo Moreno, baseball's newest owner (right), is a living saint. In one of his first moves since purchasing the Angels for $180 million, he ordered the price of beer to be slashed. "Beer in the bleachers is $8.50," he said, speaking of the premium 18-ouncer. "I can go around the corner and get one for a buck and a half."
Ever wonder how a ballpark arrives at its avant-garde beer prices? We asked the Angels and their concessionaire, Aramark, and this is what they told us: Go away. So we spoke to industry experts to estimate how a 24-ounce serving of domestic brew could wind up costing $7 at Edison Field.
COST TO CONCESSIONAIRE: 80 cents
COST OF PLASTIC CUP: 10 cents
STATE TAX (7.25%): 50 cents
OVERHEAD AND PROFIT: $5.60, split about 60-40 between the concessionaire and the team
But now Moreno has spoken, and that $8.50 beer is $6.75 and the $7 brew is $6.25. Will this hurt the Angels' profits, or will the billionaire owner sell more and do better this way? "It's a gamble," said Dan Migala of Team Marketing Report. "Everybody wants lower prices, but no one wants to take a hit in the wallet."