Trail Blazers Select AEG Facilities To Manage Rose Quarter
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| Blazers Select AEG Facilities To Run Rose Quarter |
The Trail Blazers have selected AEG Facilities to operate the Rose Quarter, which includes the 20,000-seat Rose Garden and 12,000-seat Memorial Coliseum, for the next five years starting July 1, confirmed Trail Blazers COO Mike Golub. Global Spectrum has been operating the arena since January '05. At that time, the facility was in the hands of the bondholders responsible for paying construction debt after Trail Blazers Owner Paul Allen gave up ownership rights to the building during bankruptcy proceedings in '04. Allen bought back the Rose Garden in '07 (Don Muret, SportsBusiness Journal). In Portland, Brent Hunsberger writes the Trail Blazers' selection of AEG is a "signal the team is serious about redeveloping the area and growing revenue streams for the ballclub." The move "suggests team management is pressing harder to find a corporate naming partner for the Rose Quarter and to redevelop the area to include housing, offices and other entertainment." Golub: "Our intent is to keep all the staff, part time and full time, and to make this seamless to the visitor." Industry observers said that Global Spectrum has "performed well ... boosting the number of events staged at both venues." Global Spectrum "electrified aging Memorial Coliseum late last year by landing" the Davis Cup finals. Golub said, "I think it was a very successful 3 1/2 years." Hunsberger writes the Blazers operate the city-owned coliseum and "have lost money on it for years." However, city and team officials said that the arena in the FY ending June 30, 2007 "turned a small profit." Golub said that the team chose AEG "not because of its financial offer but because of its track record booking concerts, and managing and developing arenas." Golub also said that the team is "'midstream' in its efforts to land a naming rights partner" (Portland OREGONIAN, 6/10).
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