IceCaps Clarify Rental Agreement with Mile One Centre
Published on September 15, 2014 under American Hockey League (AHL)
St. John's IceCaps News Release
The St. John's IceCaps confirmed today that the City of St. John's has agreed to a reduced rate of rental for the use of Mile One Centre as the home of the American Hockey League (AHL) team.
Previously, the IceCaps were paying one of the highest rental fees of any franchise in the AHL; a reduction in that rate was critical to offset the significant increase in costs to keep the Winnipeg Jets (the IceCaps' parent club) in the city for an additional year. In fact, the reduced rental fee was essential in order to keep the Jets' AHL franchise in the province.
The reduced rate is not a "subsidy" as has been reported, since the IceCaps will still pay a very substantial rental fee for the use of Mile One.
A subsidy implies the organization will receive money from the City to operate the team, which is simply not the case.
St. John's Sports and Entertainment (SJSE) has a mandate to not receive a subsidy from the City of St. John's in order to operate Mile One Centre. And thanks largely in part to the revenue created by the St. John's IceCaps as the anchor tenant; Mile One now operates at a profit.
In addition, the St. John's IceCaps economic spin-off for downtown businesses and the surrounding area is estimated in the tens of millions of dollars each year.
American Hockey League Stories from September 15, 2014
- IceCaps Clarify Rental Agreement with Mile One Centre - St. John's IceCaps
- Worcester Sharks Announce 20 Years of AHL Hockey in Worcester Logo - Worcester Sharks
- Rangers Announce Training Camp Schedule - Hartford Wolf Pack
- Single Game Tickets for 2014-15 Syracuse Crunch Season on Sale - Syracuse Crunch
- Crunch Announce Front Office Promotion - Syracuse Crunch
- IceCaps Announce Sale of 18-Game Packages - St. John's IceCaps
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