Sports authority approves arena lease changes Print
Written by Admin   
Wednesday, 19 March 2008 13:31
NHL Headline News

 NASHVILLE, Tenn. (AP) -The new owners of the Nashville Predators are close to final approval on a revised lease agreement for their arena that has Nashville taxpayers helping subsidize the team.
The Metro Sports Authority approved the new lease by a vote of 7-1 Tuesday, and the Metro Council is expected to vote on the lease April 1 with only a simple majority needed for approval.
The agreement has Nashville paying the team $3.8 million each year, even when the Predators don't lose that much money. If the Sommet Center's losses are less than $3.8 million, the other money could be spent on the arena itself.
David Freeman, the lead owner, said the owners plan to spend at least that much to help bring in events like the NCAA women's Final Four. Freeman said the arena should host 150 days' of events in the fiscal year ending in June, up 30 days from the previous fiscal year.
``We're not worried about taking risks anymore,'' said Freeman, CEO of 36 Venture Capital. ``We're going to take some risks.''
Steve North, who voted against the agreement, said he thinks the new lease might leave Nashville paying more than expected.
``Anytime you have a complex agreement, there are always unintended consequences,'' North said.
Attorney Larry Thrailkill, who represented the city of Nashville in the negotiations, said Nashville likely will pay about $4.5 million this year to the team for incentive fees and other changes that include reducing rent and a bigger cut of advertising revenue for the Predators.
The new owners took over the team earlier this season.
 

NHL Team Pages

Top NHL Public Bets

View All: NFL |  NBA |  NCAAF |  NCAAB |  MLB |  NHL

NHL Futures

NHL TEAM CUP FINALS ODDS CURRENT
CHICAGO BLACKHAWKS 7/1
LOS ANGELES KINGS 10/1
BOSTON BRUINS 10/1
ST LOUIS BLUES 12/1
ANAHEIM DUCKS 12/1
PITTSBURGH PENGUINS 12/1
SAN JOSE SHARKS 14/1
NEW YORK RANGERS 16/1
TAMPA BAY LIGHTNING 16/1
MINNESOTA WILD 16/1
View All

Privacy Policy | Terms of Service | Contact Us | Advertising | 888-99-SPREAD

THIS IS NOT A GAMBLING SITE – If you think you have a gambling problem click here.

Disclaimer: This site is for informational and entertainment purposes only. Individual users are responsible for the laws regarding accessing gambling information from their jurisdictions. Many countries around the world prohibit gambling, please check the laws in your location. Any use of this information that may violate any federal, state, local or international law is strictly prohibited.

Copyright: The information contained on TheSpread.com website is protected by international copyright and may not be reproduced, or redistributed in any way without expressed written consent.

About: TheSpread.com is the largest sports betting news site in the United States. We provide point spread news, odds, statistics and information to over 199 countries around the world each year. Our coverage includes all North American College and Professional Sports as well as entertainment, political and proposition wagering news.

©1999-2013 TheSpread.com