Kings Get New Lease
By: Import User
Updated: January 7, 2009
7/31/06
The Lubbock Cotton Kings were given a new lease today by Lubbock City Counsil. The deal is a one-year lease agreement, and negates the final three years the Kings had on its original five-year contract the hockey frachise signed in 2004.
"This is the best lease agreement our organization has ever had with the Coliseum and the agreement is on par with other agreements CHL teams have with their venue," said Cotton Kings General Manager Todd Chisnell. "This new agreement excites us because it is a step in the right direction. I appreciate everyone that was involved within the negotiations, including Mayor David Miller and City Council members, which shows their dedication in the longevity of the Cotton Kings and the entertainment it provides the fans."
The Kings will be charged a reduced rate of $30,000 in rent for the Lubbock Municipal Coliseum. The deal also says the Kings must repay past-due rent of $46,900 that is due by October 1st.
The Kings will not be charged for Coliseum utility costs, and for the first time in franchise history, the team will receive a portion of concession sales. That amount from concessions is pending, the decision will be based on negotiation talks between Civic Lubbock and the Cotton Kings.
The City of Lubbock denied the Kings an economic development grant. The Kings are aware there may be more lease talks a year from now. But the hockey club feels future lease agreements will be similar to the deal struck today.
The Kings open the season in Octocber. For season tickets, call the Kings at 747-7825.
