Phoenix LXIV: Will You Still Need Me, Will You Still Read Me, on Thread LXIV?
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11-11-2012, 06:03 PM
Join Date: Dec 2010
Originally Posted by
well yeah usually playoff teams don't need to market themselves. We'll see what COG does,
this is an unprecedented situation as far as I know for a city to actively subsidize the operating budget of a major league sports team
. I have seen incentives to lure a team, payments to cover moving expenses, the obviously building the venue, etc but never a 20 year commitment to cut a check every year.
See Predators, Nashville,
Consider Nashville something like Glendale Lite.
As discussed somewhere else before.
And the city of Nashville has indicated it is willing to continue its public funding. Since 1997, Metro and the state have given the hockey team
through a contract that has been renegotiated once with more generous incentives.
It is common for cities to provide financial assistance to sports teams with the idea that it will boost the local economy. Many cities, including Nashville, pay to build hockey arenas. But most limit their funding to paying debt on the buildings and capital improvements.
Nashville’s contract goes beyond that, paying the Predators to operate the arena, providing financial incentives to book non-hockey events and covering most of any losses associated with running the building. And the state kicks in some tax dollars, too.
The Predators received
$11.62 million last year in state and city money
When awarded a franchise,
the city of Nashville paid 31.50% of the $80-million fee to join the league
. The city has engaged an affiliate of the team to operate the arena and that agreement protects the city against annual arena operating losses over approximately $3.8 million.[13
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