Budget deal pledges up to $80M for XL Center renovations (Hartford Business Journal)

[huskymedic]

-> A planned $107 million XL Center rehab would redesign the stage, create premium seating areas at ground level, renovate seating, upgrade vending stations and other functions on the concourse and more. <-

->Among the multitude of provisions in the budget compromise is the outline of a deal that would see Los Angeles-based entertainment and events company Oak View Group bear at least $20 million in XL Center renovation costs in return for a long-term agreement to manage the roughly 15,500-seat sports and entertainment venue.

Under the enabling language in the budget bill, OVG will cover any annual operating losses, but get to keep the first $4 million in yearly profits. OVG and the Capital Region Development Authority would split any additional profit evenly. <-

 

[HuskyHawk]

Ooh, a new coat of paint. Excellent.

 

[August_West]

does that cover the smell of fryer grease? I’m in

 

[Tfoyle]

so we joined the AAC again?

 

[huskymedic]

so we joined the AAC again?

Been talking about it so long surprised it’s not an ECAC logo.

 

[HooperScooper]

I would imagine that $107 million doesn't go very far these days.

 

[Stew Crew]

Lipstick on a pig

 

[August_West]

so we joined the AAC again?

1/2 this board wants us to

 

[CTFAN4LIFE]

With this 107m and the previous renovation phases already done/approved, it gets it up to around 200m. Close to the full-blown 250m project that was originally floated.

I think what is most important is that OVG becomes a true partner in the building and can profit from increasing the events it can place at XL. The building finally has a chance to make some dough.

 

[XLCenterFan]

Are we playing BE basketball there? That’s all I care about. Forget how nice and shiny the place is.

 

[willie99]

If they're improving premium seats, I'm in

JK

 

[CTBasketball]

Just build a new arena if you want to attract an NHL team, everything else is pointless. I’m a big fan of playing in Hartford but this is a waste of money.

 

[XLCenterFan]

Just build a new arena if you want to attract an NHL team, everything else is pointless. I’m a big fan of playing in Hartford but this is a waste of money.

There are multiple cities that will get the NHL before we do. This is not for that. I’m with you…save the money. XL is fine. Let’s get some more room in the 4 corners of Gampel where the bathrooms/concessions are.

 

[KeyWestUC]

so we joined the AAC again?

LOL

 

[businesslawyer]

Just build a new arena if you want to attract an NHL team, everything else is pointless. I’m a big fan of playing in Hartford but this is a waste of money.

Everyone knows that a NHL team will need a new arena. But the odds of getting one don't justify building an arena on the hope that you'll get one. The Civic Center would work fine to host a NHL team for the few years it would take to build a new arena.

But unless UConn and the State are abandoning downtown Hartford, you have to do what you have to do to keep the existing one operational

 

[huskymedic]

Back door <<

 

[alphasigko]

Just build a new arena if you want to attract an NHL team, everything else is pointless. I’m a big fan of playing in Hartford but this is a waste of money.

T-mobile Stadium in LV cost $285M in 2016...a new Civic Center would probably cost $500M today, not to mention cost of Land and demolition of existing facility. Or, demo the existing stadium and rebuild on the same site, but there would be loss of revenue for at least 3+ years.... Cost: still probably $500M...my conclusion: a bandaid is better than major surgery

 

[Ha Who]

Never happen but interesting

 

[JohnFSilver]

just a really hard market. There is Bridgeport, the casinos and Xfinity in Hartford is a 30K music venue, that has very few shows this summer.

Hartford is struggling to compete with Mohegan in the winter and Bridgeport this summer. I am hopeful that XL can actually rebuild and attract concerts in the fall, winter and spring.

 

[XLCenterFan]

I saw gampel got $10M too. Build out those 4 corner concession areas.

 

[huskyjawz]

just a really hard market. There is Bridgeport, the casinos and Xfinity in Hartford is a 30K music venue, that has very few shows this summer.

Hartford is struggling to compete with Mohegan in the winter and Bridgeport this summer. I am hopeful that XL can actually rebuild and attract concerts in the fall, winter and spring.

The Bridgeport Amphitheater only holds 5K, they aren't getting the same bands that would play the XL, so how are they in competition?

 

[Ha Who]

The Bridgeport Amphitheater only holds 5K, they aren't getting the same bands that would play the XL, so how are they in competition?

How about we stand up to the East Hartford neighborhood by the stadium so we can get bigger summer concerts

 

[Chief00]

-> A planned $107 million XL Center rehab would redesign the stage, create premium seating areas at ground level, renovate seating, upgrade vending stations and other functions on the concourse and more. <-

->Among the multitude of provisions in the budget compromise is the outline of a deal that would see Los Angeles-based entertainment and events company Oak View Group bear at least $20 million in XL Center renovation costs in return for a long-term agreement to manage the roughly 15,500-seat sports and entertainment venue.

Under the enabling language in the budget bill, OVG will cover any annual operating losses, but get to keep the first $4 million in yearly profits. OVG and the Capital Region Development Authority would split any additional profit evenly. <-

These words above demonstrates how far down the food chain UConn is from collecting money from an XL game. The “ex”politicians at CRDA always get an earlier cut of the profit pie than UConn yet the need to hire OVG to manage things shows how little or negative value added CRDA supplies.
The focus on premium sitting though pretends the customers for its biggest draw (UConn) are not already paying seat donations for the entire lower level.
The best way to generate quick revenue is add restrooms so the people will buy concessions rather than wait in bathroom lines at key peak times.

 

[Waquoit]

How about we stand up to the East Hartford neighborhood by the stadium so we can get bigger summer concerts

Why do you blame East Hartford? I never read anything that said East Hartford is blocking concerts. I think it's more the concerts that will go into the Rent are now going to Fenway. That didn't happen back in the day.

 

[Ha Who]

Why do you blame East Hartford? I never read anything that said East Hartford is blocking concerts. I think it's more the concerts that will go into the Rent are now going to Fenway. That didn't happen back in the day.

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