Calls for the city to build it with the city accepting all costs for construction. The city maintains it and Mandalay kicks in $25K per year for capital improvements. Mandalay gets ALL ticket revenue but the city is allowed NO MORE than a $0.50 per ticket tax. Mandalay pays $400,000 lease with no codicils addressing lease termination. In other words - if it doesn't work out Atlanta pulls a Baltimore Colts - and leaves in the middle of the night. No warning, no nothing.
And get this - if the stadium is not finished by march 20, 2012 the city pays THEM all costs associated with playing at another field AND a $50,000 per day fine.
Thats right folks - $50,000 per day!
Give them the stadium, give them the tickets revenue, give the the ad revenues, give them the concession revenues, do not force them into a 5 year guarantee AND we pay them if its late being built!!!
Where are all you supporters of this? Weren't you there when the lease was released?
I dislike Ben McCoy and Mr. Fulton. I don't like their brand of politics. But in THIS case if all of the above are true (and it appears as though they are) then I tip my hat to those two for stopping the city from rushing head long into this travesty of an agreement. I also thank Council woman Padgett for voting against this.
Shame on the rest of them !!! This is so one sided it's nauseating, and to think that O'Grady et al wanted to rush into this makes me think that the inmates are running the asylum here.
More information about formatting options