Global Spectrum on Thursday received "final approval" for a contract to manage XL Center and Rentschler Field in the Hartford market, and "will be paid annual base and incentive fees for each venue under a 10-year agreement," according to Kenneth Gosselin of the HARTFORD COURANT. The firm will be "paid a base management fee of $360,000 the first year" of management at XL Center. Increases in the following years "will be based on increases in a leading measure of inflation." At Rentschler Field, the firm will be paid a "base management fee of $100,000 in the first year, followed by increases in the following years based on the inflation index." Global Spectrum is scheduled to "take over management" of XL Center from AEG on Sept. 1, "but negotiations are under way to move that up to July 1." Global Spectrum is "taking over Rentschler on July 1." The Capital Region Development Authority "hopes Global will boost the variety of events at both venues, increasing income, part of which could be used for capital improvements, particularly at the nearly 40-year-old XL" (HARTFORD COURANT, 4/27). As part of the facility management agreements, Ovations Food Services -- Global Spectrum’s sister company -- signed 10-year deals to take over the food service at XL Center and Rentschler Field. Ovations replaces Delaware North Sportservice at the arena and Sodexo at the stadium (Don Muret, Staff Writer).
