A year ago Town Toyota Center was used as an example of how arena spending could drag down the finances of a medium-sized city. Today, after some slight adjustments in the revenue formula, the arena receives a small city subsidy and is back on solid financial ground. (more…)
The city of Wenatchee is seeking $42 million from the state of Washington to avoid defaulting on bonds used to build Town Toyota Center. The 4,300-seat arena and events facility is home to the Wenatchee Wild (NAHL) and other events. It was built by Global Entertainment and sold to a city arena authority for $52.4 […]
Several cities have been led astray by financial projections made by Global Entertainment in the course of funding and building new arenas — and now the cities are stuck with the unprofitable facilities, according to a long report in The New York Times. This story lays out how Global Entertainment pitched cities like Rio Rancho, […]
It probably was a scenario too good to be true: the merger between the CHL and the IHL is hitting several obstacles and could end up being scrapped by the end of the month. The issues, predictably, revolve around money, beginning with a disagreement over the length of the season and ending with disputes over […]
