Sunday, June 18, 2006

Predators could break lease for $30M

If the Nashville Predators decide to break their lease at the Gaylord Entertainment Center, they will owe the city $28M.

Honestly, $28M doesn't seem like the much considering how much money professional sports franchises earn (and spend). If the Preds decide to leave Nashville and sign a 25-year lease somewhere else, they only need to make an extra $2.1M per year over the course of the lease (assuming 5% interest) to pay off the $28M.

Doesn't seem like much of a penalty.

However, according to the Tennessean, if the city is found at fault, for not properly upgrading the facility, the Preds could get out of the lease for a whopping $0M.
$28 million on line in Preds feud

One Councilwoman, Brenda Gilmore, fears the Predators may leave

"My fear is we will invest almost $8 million to make improvements, and they will pack up and leave Nashville," she said. "There doesn't seem to be a lot of loyalty there. And taxpayers again will be left holding the bag."


At 2:05 PM, Anonymous Anonymous said...

Good post! To Ms Gilmore of Nashville..."duh!"

At 3:45 PM, Anonymous Drew Murphy said...

So at this point, who has a better chance of moving here - Pittsburgh or Nashville? I'd say Pittsburgh, but who knows.


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