SMG is in and International Facilities Group is out on the management side of Stockton Arena, as the city looks for more entertainment booked at the seven-year-old arena.
The deal calls for SMG to receive $270,000 annually for five years, as well as inventive payments tied to increased attendance and revenue at the waterfront facility. The City Council also bought out IFG’s contract for $2.2 million, with $1 million of that coming from SMG.
International Facilities Group had been criticized by city officials for not bringing in enough high-profile entertainment draws to the arena. SMG officials say they’ll work their best with promoters to attact more business to the arena.
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