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, […]
