Sports
Utah Jazz and Utah Hockey Club to Remain in Salt Lake City for the Next Three Decades
Delta CenterChris Gardner/Getty Images
Jazz and Utah Hockey Club owner Ryan Smith is on the verge of reaching a deal with Salt Lake City that would require the teams to play all of their home games at the Delta Center “for the next 30 years or face significant fines,” according to a front-page story in the SALT LAKE TRIBUNE's Gehrke & Miller. In exchange for $900 million in public funding to “renovate the arena and develop a three-block sports and entertainment district,” Smith Entertainment Group would agree to pay up to $125 million “if either team leaves the arena in the first 15 years” or $250 million if both leave, with the fines decreasing “by approximately” $16 million per year thereafter. Additionally, if both teams leave, SEG “could be required to repay a portion” of the $900 million it has received to date. Gehrke & Miller noted that the participation agreement is a “critical step” in moving the downtown sports and entertainment district forward. It provides, “in broad terms,” the “vision for the district and the terms for the city to agree to a half-percentage point sales tax increase citywide.” The council discussed the proposed pact during its work session yesterday, but a “potential vote” on the agreement was postponed until July 9. Salt Lake City Mayor Erin Mendenhall acknowledged that the project's schedule “is rushed and does not provide as much opportunity for public scrutiny and input,” but the city “must meet the deadline” in state law passed during the legislative session (SALT LAKE TRIBUNE, 7/2).
SERVICE CHARGE: In Utah, Dennis Romboy noted that in exchange for $900 million in state funding, SEG “intends to levy a fee on tickets” for Jazz and Utah Hockey Club games “along with other arena events to create a city-administered public facilities fund.” The tax increase is expected to generate $1.2 billion over the 30-year life of the agreement, $900 million of which “would go to SEG.” The company estimates it will spend $525 million “on remodeling to accommodate hockey and basketball” and $375 million “on other district improvements.” SEG “plans to invest $3 billion of its own” in the project. As part of the agreement, SEG would “impose a $1 per ticket fee on tickets costing $25 or less; $2 per ticket for tickets costing at least $25 but less than $200; and $3 per ticket if the price is more than $200.” The money would be “spent on family and affordable housing and other initiatives determined by the city.” The homes “would not have to be in the neighborhood” (DESERET NEWS, 7/2).
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