ASM Global has been the longtime manager of Desert Diamond Arena. Glendale says the lease deal will save the city about $80 million over 20 years.
The Glendale City Council has agreed to lease Desert Diamond Arena to ASM Global, the longtime manager of the facility, in a deal that aims to bring in millions of dollars to the city and transfer more responsibility to ASM.
The move, Phelps said, will relieve the city from paying upkeep costs to the arena, which generally range from about $3.5 million to $4 million per year. The arena has about 20 years left for bond payments, so over that time the lease will save the city about $80 million. Both the city and ASM will contribute money toward planned renovations at the arena. ASM will provide $15 million over the course of two years and the city will provide $25 million, according to the agreement.
Ron Bension, president and CEO of ASM, said the company will spend this year finalizing the design and getting permits for renovations, which are geared at improving both the guest and artist experience at the venue.The renovations also will transition the arena from a venue that was primarily focused on hockey.
“I would be more concerned for the people in Tempe than in Glendale,” he said. “We are very confident in the quality of that arena and its location.” Phelps said the city had previously been in conversations with the owners of the Coyotes for a similar deal, but there was not the appetite for the deal.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Black Desert Mobile Posts Two New Hashashin “Awakening” Class TrailersPearl Abyss dropped two new trailers today for Black Desert Mobile, highlighting the Hashashin “Awakening” Class ahead of some updates.
Leer más »
New southern Dallas grocery store fills urgent need in food desertJosh Southers has been busy restocking products on the shelves of the new southern Dallas grocery store, Food Basket. Patrons are buying groceries almost as...
Leer más »
Dog famed for living with coyotes in Nevada desert has emotional reunion with familyHades escaped home and lived with a pack of coyotes before he was rescued and thrust into a custody battle. But that saga came to an emotional end this week when he was reunited with his humans.
Leer más »
UAE oil power farms the desert in quest for food securityAgainst the desert sands of Sharjah, eight green circles stand out as the United Arab Emirates cultivates wheat to improve food security in an arid country that imports some 90% of its food.
Leer más »
Queen Camilla avoids diamond controversy with coronation crown choiceBuckingham Palace has announced that Camilla will wear Queen Mary's crown at her coronation which avoids the use of the Koh-i-Noor diamond.
Leer más »