How much does Nashville still owe on its arena

[aqib]

I was reading about the Predators extending their lease to 2021, it was originally supposed to expire in 2014. That seemed odd that it would be that short. So I was curious when the bonds were supposed to expire? I found they were issued in 94, 95, and 96. Were they 15 or 20 year bonds? Does anyone know when they expire?

[Mightygoose]

I was always under the impression that their lease ran until 2028. Do you have a link on hand by any chance?

[Major4Boarding]

Not immediately sure, but I dug this out of my archives. May or may not be useful to you

It's the 2012 Economic Impact Report (PDF)

http://nashvillepost.com/sites/defau...redsReport.pdf

[aqib]

Originally Posted by Mightygoose

I was always under the impression that their lease ran until 2028. Do you have a link on hand by any chance?

http://nashvillepost.com/news/2012/6..._new_agreement

4th paragraph from the bottom it says:

The changes also alter the terms by which the team can terminate the lease. In addition to a $10 million fee, the team would be obligated to pay 50 percent of any outstanding capital debt. The lease is also extended through 2021, a seven-year extension. - See more at: http://nashvillepost.com/news/2012/6....28ML3L5c.dpuf

[Mightygoose]

Originally Posted by aqib

http://nashvillepost.com/news/2012/6..._new_agreement

4th paragraph from the bottom it says:

The changes also alter the terms by which the team can terminate the lease. In addition to a $10 million fee, the team would be obligated to pay 50 percent of any outstanding capital debt. The lease is also extended through 2021, a seven-year extension. - See more at: http://nashvillepost.com/news/2012/6....28ML3L5c.dpuf

Thanks for the link. Guess I got 2028 from the Basillie days and it's changed so many times since.

Overall, it's good that the Preds are on solid ground.

[aqib]

Originally Posted by Mightygoose

Thanks for the link. Guess I got 2028 from the Basillie days and it's changed so many times since.

Overall, it's good that the Preds are on solid ground.

30 years was pretty standard, I don't know if they redid it during Ballsillie days. As of last year the team was still losing money despite a big subsidy from the city, but they are selling out pretty regularly now.

I was just curious because the out clause requires $10 million + half the bonds. I was wondering how much that amounted to.