The sale of the Reading Royals (ECHL) is final, as the Berks County Convention Center Authority (BCCCA) has completed its purchase of the club’s assets.
In January, it was announced that the BCCCA had struck an agreement with local entrepreneur Jack Gulati to purchase the Royals’ assets, contingent upon final approval from the ECHL Board of Governors. At the time of the announcement, it was expected that the acquisition would be finalized on or about June 30. Ultimately, the ECHL Board of Governors signed off on the sale last month, paving the way for Tuesday’s announcement from the Royals.
“We’re happy with the team’s progress since the asset-purchase announcement,” Royals general manager David Farrar said in a press statement. “Our team was honored at the ECHL League Meetings with the greatest increase in revenue from season memberships and mini-plans compared to this time last year. We’re excited to highlight more additions for our fans over the next few weeks that will enhance the family-friendly experience at Santander Arena.”
According to Tuesday’s press release from the team, ticket sales numbers are up 30% from this time last season. Operationally, the Royals are rolling out some new initiatives, including reduced pricing for walk-up tickets, special pricing for children and veterans, a new kids club, and more.
Previously the BCCCA and SMG co-owned the Royals from 2011-2014, before selling the club to Gulati. Locally, Gulati is being credited with helping to prevent the relocation of the Royals to another market.
RELATED STORIES: Reading Royals Assets Purchased by BCCCA