City releases more details on Senators’ deal
BELLEVILLE – A summary of details about the agreement between Belleville and the Senators’ hockey club was released Wednesday afternoon.
The agreement guarantees that the Senators will stay in the city for a term of eight years. There is also a renewal option for another five years.
The city expects to get $150,000 per year from the Belleville Senators for rental of the Yardman starting in the fourth year of the agreement. The first three years rent is free for the Senators.
The city is also entitled to 20 per cent of all ticket sales made from the hockey games. After the Yardman Arena is redesigned there will be 133,000 potential seat sales each year.
The renovation of the arena is expected to cost $20.5 million.
The city also expects to hold other events at the Yardman outside of Sens’ hockey, but no estimate of income to the city was given for these potential rentals.
According to the agreement, the hockey club would be able to pocket revenue for naming rights for the Yardman for the length of the lease agreement. The hockey club would also be entitled to all advertising revenue generated throughout the Yardman Arena.
The agreement also mentioned loans from Belleville to the hockey club, but there is no mention of an amount. The conditions of the loan are that any sale, move or change of ownership for the hockey team over the eight year agreement would mean the full loan would be due back to the city.
The release also covered details of concession stands and alcohol sales within the arena.
Hockey players for the Belleville Senators are also expected to be made available for charity appearances and special events.
The hockey club’s involvement in Belleville youth hockey is also mentioned, along with the branding opportunity as Belleville “Junior Senators” which would come at no cost to the city.
More to come.
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