BROOMFIELD, CO (CelebrityAccess MediaWire) — Broomfield Urban Renewal Authority has tapped Peak Entertainment to operate the Broomfield Events Center.
Peak, a new joint venture between AEG and Kroenke Sports Enterprises, has been given a 30-year contract to run the city-owned venue, commencing on September 1st. While the contract is 30 years long, it can be renewed or dropped every three years but both Peak and the Broomfield Urban Renewal Authority must agree to do so.
According to the Boulder County Business Report, the city expects to operate in the red for the first year, but anticipates being more than $300,000 in the black by the second year. Additionally, Peak has agreed to oversee more than $1 million in renovations and upgrades on the venue, half of which would be underwritten by the city.
The agreement also stipulates that Peak will be granted 10 annual "rent-free" days to stage community-oriented events. Overall, Peak expects to be producing more than 55 events a year at the venue.
Peak will be taking over from former operator Broomfield Sports & Entertainment, who notified the city that they wanted out of their management contract earlier this year, citing financial woes.
BS&E originally developed the $45 million dollar event center, which serves as home to the Rocky Mountain Rage hockey team. Since opening in 2006, the 6,000 seat arena has struggled to book live performance events and turn a profit. – CelebrityAccess Staff Writers
