Extensive renovations are planned for the 20-year-old PNC Arena, including a rooftop bar and restaurantGETTY IMAGES
Raleigh's Centennial Authority has hired CAA Icon to "head up negotiations" with the Hurricanes and their parent company, Gale Force Sports & Entertainment, on the team's lease at PNC Arena, which expires in '24, according to Chip Alexander of the Raleigh NEWS & OBSERVER. The Centennial Authority, PNC Arena's landlord, "received a lengthy update Friday" on the ongoing lease negotiations with the Hurricanes. Authority Chair Tom McCormick said CAA Icon's presentation was "informative and positive." Alexander noted "none of the terms of a proposed lease extension are being made public." Authority Exec Dir Jeff Merritt said that CAA Icon is being paid $25,000 a month, and the "initial contract with the firm was for four months." He added that the contract has been "extended four months." Hurricanes Owner Tom Dundon has been "active in the negotiations" with CAA Icon Exec VP Dan Barrett. The Authority has "planned extensive renovations to update 20-year-old PNC Arena," including a "rooftop bar and restaurant, additional 'income-producing spaces' and other updates." The Authority "already has met some of the arena enhancement requests made by Dundon" and the team for a "new scoreboard/video board, 3D projection system and theatrical lighting." Merritt said that the scoreboard is being "installed and will be operational next month" (Raleigh NEWS & OBSERVER, 8/24).
