The Belleville Senators will enjoy three years of rent free access to the Yardmen Arena, according to the lease agreement with the city, details of which were released late Wednesday.
According to the summary of the deal released by the city, the Senators will pay $150,000 per year plus HST and utilities, in years four through eight of the deal, which as previously announced is an eight year deal with a five year renewal option.
The city could receive an additional $50,000 if the Senators were to sell out the arena every game. The city will make 20 per cent of every ticket sold over 133,000 for the season, which is 3,500 per game for 38 games.
The deal gives the Senators use of the Yardmen for 50 dates throughout the year, including the 38 regular season games, and other special events. That only pertains to the Yardmen Arena.
The team will also have 80 practice times available, which can be scheduled in other QSWC rinks. The practices will be limited to three hours and not extend past 4 p.m. (two hours on weekends).
The Senators will be entitled to all revenues from advertising in the arena, including naming rights for the arena.
Revenues from alcohol will go to the city but the Senators will have exclusive use of the concession areas.
The summary suggests there will be an additional $2.6 million in additional income from city rentals, which will include $200,000 per year from its own rentals of the facility, aside from the Senators.
The summary also notes there will be “a greatly enhanced number of opportunities” to rent the Yardmen for “better” events.
Read More: Today's News, News, Quinte