Local investors looking to buy the Nashville Predators brought the Metro Sports Authority a new study (today/yesterday). It shows that if the team left town the city would lose a million dollars more than it does now running the Sommet Center.
The last profitable year for the venue was 1997. Since then, the Predator’s home has operated at a loss of 3 to 4-million dollars a year. But a report from New Jersey-based MZ-Sports breaks down the city’s revenue from the team in such a way to show a net-gain of 1.1-million dollars if parking, concessions and advertising are thrown into the mix.
Sports Authority board member Lauren Briskey called the report clear but says it doesn’t account for a ‘best case scenario’ where the city fills the arena with money-making events.
“There’s a lot of other arms and legs to that question of what if we didn’t have a professional hockey team, one of which is what we then do with the facility. That’s a different question.”
The local investor group trying to buy the team paid for the report. They’re still locked in negotiations with Mayor Karl Dean on the details of a new lease agreement for the Sommet Center.
Lead investor David Freeman says talks nearly fell apart early this week.
“We had some real fears, but the mayor reached back out to us and he’s trying hard.”
Freeman didn’t mention any specific terms of the deal, but Dean has said he doesn’t want to add to the burden on Davidson County tax payers.
Once the two sides agree on terms, the deal will go to the Sports Authority then to the Metro Council for approval before going to the NHL board of governors. Predators owner Craig Leopold has put a hard deadline on the deal of October 31st.
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