Baylor Waco Stadium Authority Established to Lease New Stadium Year Round

Nov. 19, 2013

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Contact: Lori Fogleman, 254-710-6275

Waco City Council votes in favor of city-appointed authority; University intends to retain SMG, ClubCorp for stadium services

WACO, Texas (Nov. 19, 2013) - Following favorable discussion, the Waco City Council tonight voted to establish the Baylor Waco Stadium Authority, a city-appointed board that will provide general oversight of non-Baylor events at the University's new $260 million stadium currently under construction on the banks of the Brazos River.

In advance of the work of the Baylor Waco Stadium Authority, Baylor also announced its intention to retain SMG, a worldwide leader in venue management, and Dallas-based ClubCorp, a leading owner-operator of private golf and country, business, sports and stadium clubs in North America, as the University prepares to open its new stadium and community events center in August 2014.

The Baylor Waco Stadium Authority will be governed by a board of distinguished local citizens, including appointees Harold Cunningham, who will serve as chairperson, and directors Virginia DuPuy, Glenn Robinson, Jim Sartain and Joseph Wade. The entity will assume authority when the stadium opens in fall 2014.

"There are so many exciting things happening in our community right now, and the stadium represents a powerful and highly visible symbol of remarkable forward progress in our city," Robinson said. "As a year-round resource and attraction, we think the new stadium provides a tremendous opportunity for us to showcase our city and serve our citizens. We look forward to helping to make the stadium a 'go-to' destination not only for those in our community but for those across our state."

"From the beginning, Baylor and Waco have worked together to ensure the stadium complex is a vital part of Waco and Central Texas, helping to enhance economic development in the riverfront area and contributing to quality of life for our community," said Reagan M. Ramsower, Ph.D., senior vice president for operations and chief financial officer at Baylor. "We are appreciative of the enthusiastic support of Waco council members, city and community leaders and local residents for the stadium, which will serve as a premier, year-round events center for the people of Waco."

"The Baylor Waco Stadium Authority represents another important step forward in the ongoing partnership between the City of Waco and Baylor University," said Waco Mayor Malcolm Duncan Jr. "Tonight's action by the Council helps ensure that the stadium will provide a valuable service for the citizens of our community. We continue to be excited about the positive impact it can have on riverfront development and the economic prosperity of the city. I am also familiar with the national reputation of ClubCorp and look forward to the fine dining option they will bring to Waco."

SMG will provide pre-opening services for the University's new stadium, manage the venue during non-game day events, and book and manage all non-Baylor events to be held at the facility. SMG currently works with several collegiate venues, including John Paul Jones Arena at the University of Virginia, Peterson Arena at the University of Pittsburgh, Yulman Stadium at Tulane University, Save Mart Center at Fresno State University and Iowa State Center at Iowa State University.

"We are very pleased to have the opportunity to represent the City of Waco and Baylor University in the management of their new stadium," said Doug Thornton, SMG Executive Vice President for Stadiums and Arenas. "You can feel the energy and excitement for the new facility growing each day. It will be a wonderful addition to the Waco community, and we look forward to working with both the University and the City to ensure its success."

ClubCorp's plans include operating a private member club restaurant at the stadium that will provide members a full-service, fine dining experience. ClubCorp operates several alumni clubs in stadiums across the country, including The Texas Tech Club in Lubbock, the University of Texas Club in Austin and the Boston College Club. ClubCorp also operates several well-known business clubs in major U.S. cities, such as the Tower Club in Dallas, the Houston Club, The Commerce Club in Atlanta, The University Club Atop Symphony Towers in San Diego and The Metropolitan Club in Chicago.

"We are excited about the opportunity for ClubCorp to become an integral part of the stadium as it serves the local community and its guests," said Eric Affeldt, ClubCorp's president and CEO. "ClubCorp's design for the Baylor Club will reflect the rich history of Baylor, central Texas and the Waco community. Amenities are designed to include areas for the preparation and service of premium food and beverage products for members to enjoy as well as serve private events such as business meetings, social and civic gatherings, private parties and weddings. The stadium provides a unique venue in a distinct setting on the banks of the Brazos River, and we look forward to bringing our unparalleled dining experience to the Waco community."

SMG, ClubCorp and Baylor are currently working on the final details of the contracts, which should be completed in the next few months.

ABOUT BAYLOR UNIVERSITY

Baylor University is a private Christian University and a nationally ranked research institution, characterized as having "high research activity" by the Carnegie Foundation for the Advancement of Teaching. The University provides a vibrant campus community for approximately 15,000 students by blending interdisciplinary research with an international reputation for educational excellence and a faculty commitment to teaching and scholarship. Chartered in 1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor is the oldest continually operating University in Texas. Located in Waco, Baylor welcomes students from all 50 states and more than 80 countries to study a broad range of degrees among its 11 nationally recognized academic divisions. Baylor sponsors 19 varsity athletic teams and is a founding member of the Big 12 Conference.

ABOUT SMG

Founded in 1977, SMG provides management services to more than 230 public assembly facilities including convention and exhibition centers, arenas, stadiums, theatres, performing arts centers, equestrian facilities, science centers and a variety of other venues. With facilities across the globe, SMG manages more than 14.4 million square feet of exhibition space and over 1.75 million sports and entertainment seats. As the recognized global industry leader, SMG provides venue management, sales, marketing, event booking and programming, construction and design consulting, and pre-opening services for such landmark facilities as McCormick Place & Soldier Field in Chicago, Moscone Convention Center in San Francisco, Houston's Reliant Park and the Mercedes-Benz Superdome. SMG also offers food and beverage operations through its concessions, catering and special events division, SAVOR, currently servicing more than 100 accounts worldwide. For more information, visit www.smgworld.com.

ABOUT CLUBCORP (NYSE: MYCC)

Since its founding in 1957, Dallas-based ClubCorp has operated with the central purpose of Building Relationships and Enriching Lives®. ClubCorp owns or operates a portfolio of more than 150 golf and country clubs, business clubs, sports clubs, and alumni clubs in 25 states, the District of Columbia and two foreign countries that serve over 370,000 members, with approximately 15,000 peak-season employees. ClubCorp Holdings, Inc. is a publicly traded company on the New York Stock Exchange (NYSE: MYCC). ClubCorp properties include: Firestone Country Club (Akron, Ohio); Mission Hills Country Club (Rancho Mirage, California); Capital Club Beijing; and Metropolitan Club Chicago. You can find ClubCorp on Facebook at facebook.com/clubcorp and on Twitter at @ClubCorp.

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