DENVER (CelebrityAccess MediaWire) — One of the inducements that AEG is offering to the city of Denver as they hash out the details of a 5-year deal to stage a music and arts festival in Denver's City Park is a promise of big money.
According to AEG, Denver could net up to $750,000 a year by imposing a 10% "seat tax" on every ticket sold to the event. The Rocky Mountain News is reporting that the promoter is looking at a $75 price point and expects to be able to shift 50,000 tickets a day for the two-day event.
AEG impresario Chuck Morris, point man on the deal cautions though, that the revenue might not be realized right away and and has suggested a more modest gate of 35k for the first year. Still, unsurprisingly, he's a fan of the idea. "I think this will be another jewel for the city," he said told the RMN.
According to the Rocky Mountain News, The conditions of the deal also include:
Half of the seat tax revenue would go towards improvements at the park.
AEG would donate a dollar per ticket/per day to a yet named local charity
The city's park & recs department would hold a 50,000 damage deposit. – CelebrityAccess Staff Writers