Will Silverlakes Survive?

G

GLangevinito

SILVER
I was told by a buddy who is pretty well connected that Silverlakes is now $69M in debt and giant interest payments are coming due on the bond used to finance the facility. I'm alarmed by this, as we spend many weekends there and love the facility. Between Silverlakes and Great Park, we have come a long way from games at Apple Valley and Lancaster. Anyone have any info? That would be a bummer if they folded.
 
Yikes refinance or re negotiating must be going with the parties involved.

I don't remember but does the city own the land? Leasing out? Law types stand to make some fees no doubt.

Will survive but with some changes, what or who is going to be interesting
 
lafalafa said:
Yikes refinance or re negotiating must be going with the parties involved.

I don't remember but does the city own the land? Leasing out? Law types stand to make some fees no doubt.

Will survive but with some changes, what or who is going to be interesting
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I don't know anything about it. Just wondering if the rumors are true. I hope not!
 
lafalafa said:
Yikes refinance or re negotiating must be going with the parties involved.

I don't remember but does the city own the land? Leasing out? Law types stand to make some fees no doubt.

Will survive but with some changes, what or who is going to be interesting
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parking fees increase ;)
 
Technician72 said:
Yes, DD played there yesterday. As has been common to limit hand to hand transactions with cash, the payment for entrance has been limited to cards for the most part. Wait times to get in have increased, so plan ahead and get there earlier if possible.
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Wait times there for big tournaments was already a nightmare. If your coach wants you at the field an hour before game time, how soon do you need to arrive at the venue for entrance?

Why not offer a "season" pass option? $150 for the summer and another $100 for Fall doesn't sound too bad. Especially if you play discovery in the Fall and are part of Legends or Slammers for summer tournaments.

Great Park might charge more for field rental, but the parking charge and pain of silverlakes isn't worth it.
 
timbuck said:
Wait times there for big tournaments was already a nightmare. If your coach wants you at the field an hour before game time, how soon do you need to arrive at the venue for entrance?

Why not offer a "season" pass option? $150 for the summer and another $100 for Fall doesn't sound too bad. Especially if you play discovery in the Fall and are part of Legends or Slammers for summer tournaments.

Great Park might charge more for field rental, but the parking charge and pain of silverlakes isn't worth it.
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We live about 20 minutes away from Silverlakes, we normally add 10 minutes onto that to account for getting into the complex, 30 minutes total. But we've been playing it safe and added another 15 minutes into our arrival times with the delays in transaction at the gate to make sure we're there on time. It's been at it's peak as of late with all the construction happening on Hamner Ave., with both the street widening and construction of "Hamner Place" which will house the hotels and restaurant pads next to the complex.

In regards to a seasonal / annual pass, not gonna happen as that would be convenient only for the consumer and they're not about making it easier or cheaper for us. Only place I recall doing that was the Blast / Platinum / IE Surf / Legends IE Complex in San Bernardino, and that was only for members of that club. It covered all games played there: CSL, Tournaments, State / National Cup, Etc.
 
timbuck said:
Wait times there for big tournaments was already a nightmare. If your coach wants you at the field an hour before game time, how soon do you need to arrive at the venue for entrance?

Why not offer a "season" pass option? $150 for the summer and another $100 for Fall doesn't sound too bad. Especially if you play discovery in the Fall and are part of Legends or Slammers for summer tournaments.

Great Park might charge more for field rental, but the parking charge and pain of silverlakes isn't worth it.
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Insane times tim buck. Basically to play soccer game takes a day now to play the game. Prep before you leave = 1 hour. Drive time depends on where one lives so let's go for 1 hour each way on average, that's if your lucky. 3 hours so far. Get to field one hour early is now 4 hours. Sit in line to pay, another 30 minutes. Game is 1 and half hours so now time investment is 6 hours. Coach talk after game, another 30 minutes. Eat some food afterwards and let's just say 8 hour day. We need more local play big time.
 
crush said:
Insane times tim buck. Basically to play soccer game takes a day now to play the game. Prep before you leave = 1 hour. Drive time depends on where one lives so let's go for 1 hour each way on average, that's if your lucky. 3 hours so far. Get to field one hour early is now 4 hours. Sit in line to pay, another 30 minutes. Game is 1 and half hours so now time investment is 6 hours. Coach talk after game, another 30 minutes. Eat some food afterwards and let's just say 8 hour day. We need more local play big time.
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Don't forget that on busy weekends, it can take 15-20 minutes just to get out of Silverlakes.
Does anyone think that playing in the Discovery league with all games at Silverlakes is something to get excited about?
 
Perhaps our experience has been not representative or we have arrived at off times, but we have found entry to Silverlakes to be faster than it used to be except in one instance where there was an accident. The credit card system has been pretty quick and even quicker than the time it often took them to make change.
 
As prior disclosures have noted, the Borrower’s operations have been materially impacted by the COVID-19 pandemic. Specifically, the Borrower’s Facilities have been closed pursuant to state and local mandates. While the Borrower has benefitted from certain other sources of revenue, including government relief, revenues from the Facilities have been depressed by the pandemic and governmental restrictions. As a result, after making its scheduled monthly installment payment in January 2020, the Borrower has been unable to make subsequent monthly transfers, and will be unable to make the July 1, 2020 debt service payment on the Bonds. These failures constitute Events of Default under the Bond Documents. The Trustee and the Bondholder Representative have been in discussions with the Borrower regarding the impact of COVID-19, potential operational and financial improvements and a forbearance of Bondholder remedies under the Bond Documents.
 
Hopefully they can adjust the bond payments and structure. The site has to be a big money maker for that community on weekends, the tax revenue just from local restaurants has to be significant. US soccer should also hop in and provide bond backing if necessary, as this is an important regional site for US soccer development.
 
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