US Airways Center Live Nation RFP Response - City of Glendale
US Airways Center Live Nation RFP Response - City of Glendale
US Airways Center Live Nation RFP Response - City of Glendale
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PROPOSED FINANCIAL TERMS<br />
TERM OF MANAGEMENT<br />
AGREEMENT<br />
Five (5) year term with the contracting entity’s option to renew for five (5)<br />
consecutive one (1) year periods.<br />
COMPENSATION/FEE<br />
• Base fixed management fee <strong>of</strong> $925,000 in year 1 with a four percent (4%)<br />
increase each year thereafter.<br />
• An equal 50/50 split <strong>of</strong> pr<strong>of</strong>its after all operating expenses are accounted for.<br />
<strong>City</strong> <strong>of</strong> <strong>Glendale</strong> shall be responsible for any operating shortfall.<br />
INVESTMENT<br />
The Arena Operator and <strong>Live</strong> <strong>Nation</strong> will use its best efforts to own a minor league<br />
hockey team or another suitable primary tenant if the NHL leaves the market. <strong>City</strong><br />
<strong>of</strong> <strong>Glendale</strong> shall be responsible for all capital improvements to the Arena.<br />
RESPONSE TO REQUEST FOR PROPOSAL<br />
17
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