In a surprising move, Broomfield Sports and Entertainment wants out of management of the city-owned Broomfield Event Center.
In a surprising move, Broomfield Sports and Entertainment wants out of the management of the city-owned Broomfield Event Center.
It’s surprising because Broomfield Sports and Entertainment owns the two main tenants in the city-owned facility: the Rocky Mountain Rage (CHL) and the Colorado 14ers (D-League). One recipe for success in the arena-management business calls for revenue from your own teams augmented with revenue from traveling shows. And the Bloomfield arena was constructed primarily with that sort of financial structure in mind.
Then again, it may not be too surprising. Spending has slowed down in the sports world, and given the fact Bloomfield Sports and Entertainment just recently entered the business world, we’re guessing they had a lot of debt to address. By walking away from the management side of things, they can concentrate on building ticket and sponsorship revenue for their teams while playing under what we assume to be a pretty sweet lease if the management portion of the deal was torn away.
But leaving the city with the bills while keeping the cash generators may not go down well with the city, who will need to assume management of the facility immediately.
More from the Boulder County Business Report.
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