ORLANDO (CelebrityAccess MediaWire) — The city of Orlando has pacted with AEG in a deal to manage two venues; the Amway Arena and Bob Carr Performing Arts Center.
According to the Orlando Business Journal, the two-year deal will see net revenue from the two venues split 60%/40% in favor of the city until a cumulative annual threshold of $425,000 is reached and then the revenue split becomes even.
Included under the rubric of revenue will be promoter profits, facility rents fees, box office revenues concessions and merch, equipment rentals and sponsorship deals and agreements with Ticketmaster.
The 18,000-capacity Amway Arena was completed in 1989 and currently serves as a home for the NBA franchise, Orlando Magic, along with the Orlando Predators (Arena football and Orlando Sharks (major league indoor soccer).
The 2,518 seat Bob Carr Performing Arts Center, part of the larger Orlando Centroplex, first opened in 1926 and saw major refurbs in 1977 and 1991 and currently hosts the Orlando Philharmonic Orchestra, Orlando Opera, Florida Symphony Youth Orchestra, as well as a variety of other shows, exhibits, and events. – CelebrityAccess Staff Writers